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Fincash » Search » MRF Ltd

MRF Ltd

Updated on May 15, 2019

Stock/Share Code - MRF

MRF is the largest tyre manufacturer and ranked amongst the Top 20 Global Manufacturers, with 9 state-of-the-art factories across India. It is also Indias largest Original Equipment Manufacturer (OEM) tyre supplier with an expansive tyre range from two-wheelers to fighter aircrafts.

Below is the details of MRF MRF Ltd

Market Cap₹24,100 Cr.
Current Price ₹54,761.3 as on 20 May 19
52 Week High / Low Price₹81,423 / ₹53,901.45
Face Value₹10
Stock P/E20.99
Book Value₹23,856
Dividend Yield0.11 %
ROCE16.86 %
ROE12.01 %
Sales Growth (3yrs)3.94 %
SectorTyres
IndustryTyres
Listed onBSE  AND  NSE
Company WebsiteCompany Website
Pros:
Cons: The company has delivered a poor growth of 4.54% over past five years. Promoter holding is low: 27.64%

MRF Ltd Price Chart

MRF Ltd Price Chart

MRF Ltd Peer Comparison in Tyres

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Qtr Sales Var % Sales Qtr Rs.Cr. ROCE %
1. MRF 20.99 ₹24,099.97 Cr. 0.11 ₹279.26 Cr. -17.99 6.18 4033.76 16.86
2. Apollo Tyres ₹131.55 13.48 ₹12,439.23 Cr. 1.38 ₹197.95 Cr. 0.00 16.50 4718.28 9.45
3. Balkrishna Inds ₹34.65 21.65 ₹17,122.11 Cr. 0.90 ₹144.7 Cr. -23.64 8.97 1205.59 21.82
4. JK Tyre & Indust ₹80.95 5.73 ₹1,947.2 Cr. 1.75 ₹26.68 Cr. 146.62 28.61 2730.77 6.26
5. CEAT ₹1,008.25 15.53 ₹4,410.07 Cr. 1.05 ₹52.77 Cr. -36.63 8.88 1713.93 14.77
6. TVS Srichakra ₹2,060.65 14.88 ₹1,723.04 Cr. 1.78 ₹23.6 Cr. -23.85 18.19 582.30 21.61
7. Goodyear India ₹89.9 20.44 ₹1,986.45 Cr. 1.51 ₹21.69 Cr. -42.33 16.34 464.08 26.89

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MRF Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

Mar 2016Jun 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018
Sales3,3863,4823,2493,1763,3383,5673,5913,7993,8653,8563,9284,034
YOY Sales Growth %2.25%0.14%-0.73%-0.76%-1.42%2.43%10.51%19.61%15.78%8.1%9.39%6.18%
Expenses2,6602,6422,5932,6102,8163,2922,9853,0963,1793,2603,3473,482
Material Cost %55.26%54.44%55.23%57.04%59.83%67.5%59.99%58.42%59.17%60.15%60.26%61.32%
Employee Cost %6.56%6.46%7.84%7.89%7.57%7.19%7.5%7.29%7.03%7.05%7.33%7.39%
Operating Profit726840657566523275606703686595581552
OPM %21%24%20%18%16%8%17%19%18%15%15%14%
Other Income67741227465896945795277126
Interest586063616263605865636463
Depreciation140142151154162167174178187187200205
Profit before tax595711566425364135441513514397394409
Tax %29%31%32%32%21%21%32%34%33%34%33%32%
Net Profit423491385288287107300341345261263279
NotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

Sep 2006Sep 2007Sep 2008Sep 2009Sep 2010Sep 2011Sep 2012Sep 2013Sep 2014Mar 2016Mar 2017Mar 2018TTM
Sales3,7254,3935,0455,6647,4539,74311,87012,13113,19819,88713,25214,82215,683
Sales Growth %%17.94%14.84%12.27%31.59%30.73%21.83%2.2%8.8%50.68%-33.36%11.84%%
Expenses3,4933,9594,6384,9816,6238,93410,60910,36511,27015,51610,65212,54813,269
Material Cost %70.51%67.64%68.55%65.5%67.3%72.94%70.37%65.12%63.49%56.25%56.59%61.18%%
Manufacturing Cost %8.75%8.17%9.83%8.91%9.12%8.21%8.53%8.53%8.97%8.74%9.17%8.97%%
Employee Cost %5.27%5.36%5.36%5.48%4.98%4.59%4.33%4.97%5.55%6.33%7.42%7.25%%
Other Cost %9.27%8.95%8.21%8.06%7.47%5.95%6.15%6.82%7.38%6.7%7.2%7.26%%
Operating Profit2314344066828298091,2611,7671,9284,3712,6002,2742,414
OPM %6%10%8%12%11%8%11%15%15%22%20%15%15%
Other Income6329413429430322965321325282333
Interest494966696398159196232352250250255
Depreciation146153170249261248301373423735609705778
Profit before tax1002612113985358948331,2271,3393,6062,0661,6021,714
Tax %20%34%32%36%34%31%31%35%33%31%30%32%
Net Profit801721452533546195728028982,4741,4511,0921,148
EPS in Rs185.66401.75337.55592.52826.561,456.821,345.831,886.932,107.783,889.783,402.032,563.96
Dividend Payout %11%5%6%4%6%2%2%2%2%2%2%2%

Compounded Sales Growth

  • 10 Years:: 12.93%
  • 5 Years:: 4.54%
  • 3 Years:: 3.94%
  • TTM:: 9.71%

Compounded Profit Growth

  • 10 Years:: 20.41%
  • 5 Years:: 13.76%
  • 3 Years:: 6.96%
  • TTM:: 11.09%

Return on Equity

  • 10 Years:: 21.61%
  • 5 Years:: 22.14%
  • 3 Years:: 21.83%
  • TTM:: 12.01%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

Sep 2006Sep 2007Sep 2008Sep 2009Sep 2010Sep 2011Sep 2012Sep 2013Sep 2014Mar 2016Mar 2017Mar 2018Sep 2018
Share Capital4444444444444
Equity Capital4.244.244.244.244.244.244.244.244.244.244.244.24
Reserves8209821,1171,3571,6862,2942,8543,6414,5137,1578,5409,60010,111
Borrowings7298351,2496721,3541,6001,7081,5991,9032,0672,0721,7031,334
Other Liabilities5797141,0127349642,4512,6643,0393,4023,9824,4095,0916,141
Trade Payables372.02414.81629.41489.07663.33581.82614.53701.421139.621528.821677.081998.962542.3
Total Liabilities2,1322,5353,3822,7684,0096,3497,2298,2839,82313,21015,02516,39917,590
Fixed Assets6506578679341,3291,9712,9142,9703,4294,5945,4886,0756,593
Gross Block1889.732046.742422.562734.333367.93831.825062.515475.026327.765248.166713.137949.04
Accumulated Depreciation1240.061389.991556.011800.772038.991860.442148.712505.482899.07654.361225.551873.73
CWIP662434442854981,0424153596271,0588471,079874
Investments70726914973734259061,0883,1473,3944,1464,505
Other Assets1,3461,5632,0041,4012,1103,2623,4764,0484,6794,4105,2965,0995,617
Inventories565.63693.34984.28650.471110.681526.021645.591795.291799.71879.742392.922172.072548.76
Trade receivables539.36551.92610.05580.03811.491308.861454.091556.141708.471831.721959.952135.922166.74
Cash Equivalents53.3273.17102.3559.8945.1855.9861.1330.81707.6780.45274.42139.41119.88
Loans n Advances187.66244.5307.03110.34142.29201.3227.8192.96197.11370.17346.49280.7822.88
Total Assets2,1322,5353,3822,7684,0096,3497,2298,2839,82313,21015,02516,39917,590

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

Sep 2006Sep 2007Sep 2008Sep 2009Sep 2010Sep 2011Sep 2012Sep 2013Sep 2014Mar 2016Mar 2017Mar 2018
Cash from Operating Activity2753062698471586341,0231,4761,6873,4071,7902,541
Profit from operations256.21457.21450.08709.45845.68824.061280.151780.331943.474398.72616.892314.99
Working Capital Changes-23.23-70.85-87.54238.64-468.28-41.63-18.77-0.65151.32169.59-427.08691.91
Taxes paid-13-80.22-93.54-101.33-219.9-148.74-238.61-303.33-407.95-1161.06-399.62-465.41
Cash from Investing Activity-227-335-566-232-786-1,111-966-937-1,785-3,406-1,394-1,982
Fixed Assets Purchased-174.61-337.55-583.63-162.28-869.65-1126.04-616.19-429.4-1242.26-2303.15-1364.76-1529.8
Fixed Assets Sold2.210.443.570.592.7513.480.632.110.263.331.182.65
Investments purchased-50.8800-73.0700-352.01-472.16-654-2342.140-2997.46
Investments sold00.6312.34078.980.3700491.78727.2630.352476.56
Cash from Financing Activity-4049326-657614486-51-31367-179-295-639
Proceeds from Borrowings65.9776.97347.780630.67127.75118.6500000
Repayment of Borrowings-66.83-4.34-8.39-668.170-252.70-52.490000
Interest Paid-49.97-49.9-63.14-70.97-61.36-58.31-148.07-191.19-221.7-314.63-241.54-241.08
Dividends Paid-9.62-9.69-9.87-9.8-12.39-24.41-12.32-12.35-14.89-26.7-51.03-30.61
Net Cash Flow72029-42-1595226-31-178101-80

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Ratios

Sep 2006Sep 2007Sep 2008Sep 2009Sep 2010Sep 2011Sep 2012Sep 2013Sep 2014Mar 2016Mar 2017Mar 2018
ROCE %18%13%21%23%17%23%29%27%50%23%17%
Debtor Days534644374049454747345453
Inventory Turnover6.986.016.938.467.397.497.057.3410.816.206.49

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Disclaimer:
All efforts have been made to ensure the information provided here is accurate as per time to time filling by company to exchanges. However, no guarantees are made regarding correctness of data. Investors are advised to validate/check information with exchanges or companies website before making any investment decisions.