View ValuationMRF 향후 성장Future 기준 점검 1/6MRF (는) 각각 연간 10.5% 및 8.4% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 10.5% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 12.1% 로 예상됩니다.핵심 정보10.5%이익 성장률10.48%EPS 성장률Auto Components 이익 성장18.8%매출 성장률8.4%향후 자기자본이익률12.15%애널리스트 커버리지Good마지막 업데이트11 May 2026최근 향후 성장 업데이트Price Target Changed • May 11Price target decreased by 7.4% to ₹138,804Down from ₹149,866, the current price target is an average from 10 analysts. New target price is 7.7% above last closing price of ₹128,910. Stock is down 7.9% over the past year. The company is forecast to post earnings per share of ₹5,568 for next year compared to ₹5,720 last year.분석 기사 • May 10Analysts Are Updating Their MRF Limited (NSE:MRF) Estimates After Its Full-Year ResultsAs you might know, MRF Limited ( NSE:MRF ) recently reported its annual numbers. MRF reported in line with analyst...분석 기사 • Feb 10Analyst Estimates: Here's What Brokers Think Of MRF Limited (NSE:MRF) After Its Third-Quarter ReportInvestors in MRF Limited ( NSE:MRF ) had a good week, as its shares rose 8.6% to close at ₹145,310 following the...분석 기사 • Nov 19Analysts Have Made A Financial Statement On MRF Limited's (NSE:MRF) Second-Quarter ReportAs you might know, MRF Limited ( NSE:MRF ) recently reported its second-quarter numbers. Revenues came in 4.1% below...Price Target Changed • May 12Price target increased by 13% to ₹131,744Up from ₹116,926, the current price target is an average from 10 analysts. New target price is 5.8% below last closing price of ₹139,925. Stock is up 8.6% over the past year. The company is forecast to post earnings per share of ₹5,581 for next year compared to ₹4,408 last year.Major Estimate Revision • Feb 13Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ₹4,671 to ₹4,156 per share. Revenue forecast steady at ₹281.9b. Net income forecast to grow 22% next year vs 24% growth forecast for Auto Components industry in India. Consensus price target broadly unchanged at ₹116,536. Share price fell 3.8% to ₹109,767 over the past week.모든 업데이트 보기Recent updatesPrice Target Changed • May 11Price target decreased by 7.4% to ₹138,804Down from ₹149,866, the current price target is an average from 10 analysts. New target price is 7.7% above last closing price of ₹128,910. Stock is down 7.9% over the past year. The company is forecast to post earnings per share of ₹5,568 for next year compared to ₹5,720 last year.분석 기사 • May 10Analysts Are Updating Their MRF Limited (NSE:MRF) Estimates After Its Full-Year ResultsAs you might know, MRF Limited ( NSE:MRF ) recently reported its annual numbers. MRF reported in line with analyst...Reported Earnings • May 08Full year 2026 earnings: EPS misses analyst expectationsFull year 2026 results: EPS: ₹5,720 (up from ₹4,407 in FY 2025). Revenue: ₹311.5b (up 11% from FY 2025). Net income: ₹24.3b (up 30% from FY 2025). Profit margin: 7.8% (up from 6.6% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.공시 • May 02MRF Limited to Report Fiscal Year 2026 Results on May 07, 2026MRF Limited announced that they will report fiscal year 2026 results at 12:08 PM, Indian Standard Time on May 07, 2026분석 기사 • Feb 10Analyst Estimates: Here's What Brokers Think Of MRF Limited (NSE:MRF) After Its Third-Quarter ReportInvestors in MRF Limited ( NSE:MRF ) had a good week, as its shares rose 8.6% to close at ₹145,310 following the...분석 기사 • Feb 09MRF (NSE:MRF) Is Paying Out A Dividend Of ₹3.00MRF Limited ( NSE:MRF ) will pay a dividend of ₹3.00 on the 8th of March. Including this payment, the dividend yield on...Declared Dividend • Feb 08Dividend of ₹3.00 announcedDividend of ₹3.00 is the same as last year. Ex-date: 13th February 2026 Payment date: 8th March 2026 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (4% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 07Third quarter 2026 earnings released: EPS: ₹1,631 (vs ₹744 in 3Q 2025)Third quarter 2026 results: EPS: ₹1,631 (up from ₹744 in 3Q 2025). Revenue: ₹80.5b (up 15% from 3Q 2025). Net income: ₹6.92b (up 119% from 3Q 2025). Profit margin: 8.6% (up from 4.5% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 18% per year.공시 • Jan 27MRF Limited to Report Q3, 2026 Results on Feb 06, 2026MRF Limited announced that they will report Q3, 2026 results on Feb 06, 2026분석 기사 • Dec 27Slowing Rates Of Return At MRF (NSE:MRF) Leave Little Room For ExcitementWhat trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...분석 기사 • Dec 09MRF (NSE:MRF) Has A Pretty Healthy Balance SheetHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...분석 기사 • Nov 19Analysts Have Made A Financial Statement On MRF Limited's (NSE:MRF) Second-Quarter ReportAs you might know, MRF Limited ( NSE:MRF ) recently reported its second-quarter numbers. Revenues came in 4.1% below...Declared Dividend • Nov 16Dividend of ₹3.00 announcedShareholders will receive a dividend of ₹3.00. Ex-date: 21st November 2025 Payment date: 14th December 2025 Dividend yield will be 0.1%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (5% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 69% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 15Second quarter 2026 earnings released: EPS: ₹1,239 (vs ₹1,110 in 2Q 2025)Second quarter 2026 results: EPS: ₹1,239 (up from ₹1,110 in 2Q 2025). Revenue: ₹73.8b (up 7.2% from 2Q 2025). Net income: ₹5.26b (up 12% from 2Q 2025). Profit margin: 7.1% (up from 6.8% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.공시 • Nov 04MRF Limited to Report Q2, 2026 Results on Nov 14, 2025MRF Limited announced that they will report Q2, 2026 results on Nov 14, 2025분석 기사 • Oct 11Some Confidence Is Lacking In MRF Limited's (NSE:MRF) P/EWhen close to half the companies in India have price-to-earnings ratios (or "P/E's") below 27x, you may consider MRF...분석 기사 • Sep 20The Return Trends At MRF (NSE:MRF) Look PromisingWhat trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...Reported Earnings • Aug 13First quarter 2026 earnings: EPS and revenues miss analyst expectationsFirst quarter 2026 results: EPS: ₹1,180 (down from ₹1,346 in 1Q 2025). Revenue: ₹76.8b (up 6.7% from 1Q 2025). Net income: ₹5.00b (down 12% from 1Q 2025). Profit margin: 6.5% (down from 7.9% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.공시 • Aug 01MRF Limited to Report Q1, 2026 Results on Aug 12, 2025MRF Limited announced that they will report Q1, 2026 results on Aug 12, 2025분석 기사 • Aug 01It's Unlikely That MRF Limited's (NSE:MRF) CEO Will See A Huge Pay Rise This YearKey Insights MRF will host its Annual General Meeting on 7th of August Total pay for CEO K. M. Mammen includes ₹190.2m...분석 기사 • Jul 22MRF's (NSE:MRF) Sluggish Earnings Might Be Just The Beginning Of Its ProblemsA lackluster earnings announcement from MRF Limited ( NSE:MRF ) last week didn't sink the stock price. Our analysis...Reported Earnings • Jul 15Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: ₹4,407 (down from ₹4,907 in FY 2024). Revenue: ₹281.7b (up 12% from FY 2024). Net income: ₹18.7b (down 10% from FY 2024). Profit margin: 6.6% (down from 8.3% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.Declared Dividend • Jul 05Dividend increased to ₹229Dividend of ₹229 is 18% higher than last year. Ex-date: 18th July 2025 Payment date: 6th September 2025 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover.공시 • Jul 03MRF Limited, Annual General Meeting, Aug 07, 2025MRF Limited, Annual General Meeting, Aug 07, 2025.분석 기사 • Jun 15We Think MRF (NSE:MRF) Can Stay On Top Of Its DebtDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...분석 기사 • May 28Returns At MRF (NSE:MRF) Appear To Be Weighed DownIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Price Target Changed • May 12Price target increased by 13% to ₹131,744Up from ₹116,926, the current price target is an average from 10 analysts. New target price is 5.8% below last closing price of ₹139,925. Stock is up 8.6% over the past year. The company is forecast to post earnings per share of ₹5,581 for next year compared to ₹4,408 last year.Reported Earnings • May 09Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: ₹4,408 (down from ₹4,907 in FY 2024). Revenue: ₹285.6b (up 14% from FY 2024). Net income: ₹18.7b (down 10% from FY 2024). Profit margin: 6.5% (down from 8.3% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.공시 • May 01MRF Limited to Report Fiscal Year 2025 Results on May 07, 2025MRF Limited announced that they will report fiscal year 2025 results on May 07, 2025Major Estimate Revision • Feb 13Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ₹4,671 to ₹4,156 per share. Revenue forecast steady at ₹281.9b. Net income forecast to grow 22% next year vs 24% growth forecast for Auto Components industry in India. Consensus price target broadly unchanged at ₹116,536. Share price fell 3.8% to ₹109,767 over the past week.Declared Dividend • Feb 08Dividend of ₹3.00 announcedShareholders will receive a dividend of ₹3.00. Ex-date: 14th February 2025 Payment date: 8th March 2025 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (5% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 46% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 07Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2025 results: EPS: ₹744 (down from ₹1,202 in 3Q 2024). Revenue: ₹70.0b (up 14% from 3Q 2024). Net income: ₹3.15b (down 38% from 3Q 2024). Profit margin: 4.5% (down from 8.3% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 27%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.공시 • Feb 06MRF Limited Declares Second Interim Dividend for the Financial Year Ending March 31, 2025, Payable on or After February 25, 2025MRF Limited announced that at the Board of Directors meeting held 6 February, 2025, the Board of Directors has declared a Second Interim Dividend of INR 3 per equity share [30%] for the financial year ending 31 March, 2025. The Company has fixed 14th February, 2025 as the record date for the purpose of payment of Second Interim Dividend. The Second Interim Dividend declared will be paid on or after 25February, 2025.공시 • Jan 29MRF Limited to Report Q3, 2025 Results on Feb 06, 2025MRF Limited announced that they will report Q3, 2025 results on Feb 06, 2025Declared Dividend • Nov 11Dividend of ₹3.00 announcedDividend of ₹3.00 is the same as last year. Ex-date: 19th November 2024 Payment date: 8th December 2024 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (4% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 09Second quarter 2025 earnings released: EPS: ₹1,110 (vs ₹1,383 in 2Q 2024)Second quarter 2025 results: EPS: ₹1,110 (down from ₹1,383 in 2Q 2024). Revenue: ₹69.9b (up 13% from 2Q 2024). Net income: ₹4.71b (down 20% from 2Q 2024). Profit margin: 6.7% (down from 9.4% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.공시 • Nov 08MRF Limited Declares Interim Dividend, Payable on or After November 29, 2024MRF Limited announced that at the board meeting held on November 8, 2024, declared an Interim Dividend of INR 3/-per equity share [30%] for the financial year ending March 31, 2025. The company has fixed 19 November, 2024, as the record date for the purpose of payment of Interim Dividend. The Interim Dividend declared will be paid on or after November 29, 2024.공시 • Oct 23+ 1 more updateMRF Limited to Report Q2, 2025 Results on Nov 08, 2024MRF Limited announced that they will report Q2, 2025 results on Nov 08, 2024공시 • Sep 29MRF Limited Announces Cessation of DirectorsMRF Limited announced that consequent to the completion of their second term, Mr. Ashok Jacob (00018605), Mr. V Sridhar (DIN: 00020276), Mr. Vijay R Kirloskar (DIN: 00031253), Mr. Ranjit I. Jesudasen (DIN: 00020181), Dr. Salim Joseph Thomas (DIN: 00033022) and Mr. Jacob Kurian (DIN: 00860095) cease to be Independent Directors with effect from the close of business hours of September 28, 2024.Reported Earnings • Aug 09First quarter 2025 earnings released: EPS: ₹1,346 (vs ₹1,388 in 1Q 2024)First quarter 2025 results: EPS: ₹1,346 (down from ₹1,388 in 1Q 2024). Revenue: ₹72.0b (up 12% from 1Q 2024). Net income: ₹5.71b (down 3.0% from 1Q 2024). Profit margin: 7.9% (down from 9.1% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.공시 • Aug 02MRF Limited Declares Final Dividend for the Financial Year Ended 31St March, 2024MRF Limited Declaration of a final dividend of INR 194/- (1940%) per equity share of INR 10 each of the Company for the financial year ended 31st March, 2024.공시 • Jul 24MRF Limited to Report Q1, 2025 Results on Aug 08, 2024MRF Limited announced that they will report Q1, 2025 results on Aug 08, 2024Upcoming Dividend • Jul 18Upcoming dividend of ₹194 per shareEligible shareholders must have bought the stock before 25 July 2024. Payment date: 31 August 2024. Payout ratio is a comfortable 4.1% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.5%).Reported Earnings • Jul 07Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: ₹4,907 (up from ₹1,813 in FY 2023). Revenue: ₹251.7b (up 9.4% from FY 2023). Net income: ₹20.8b (up 171% from FY 2023). Profit margin: 8.3% (up from 3.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.5%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 17% per year.Declared Dividend • Jun 29Dividend increased to ₹194Dividend of ₹194 is 15% higher than last year. Ex-date: 25th July 2024 Payment date: 31st August 2024 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (4% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover.공시 • Jun 28MRF Limited, Annual General Meeting, Aug 01, 2024MRF Limited, Annual General Meeting, Aug 01, 2024.Price Target Changed • May 07Price target decreased by 7.1% to ₹108,034Down from ₹116,299, the current price target is an average from 9 analysts. New target price is 13% below last closing price of ₹124,515. Stock is up 28% over the past year. The company is forecast to post earnings per share of ₹4,698 for next year compared to ₹4,907 last year.Reported Earnings • May 04Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: ₹4,907 (up from ₹1,813 in FY 2023). Revenue: ₹254.9b (up 11% from FY 2023). Net income: ₹20.8b (up 171% from FY 2023). Profit margin: 8.2% (up from 3.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.5%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 18% per year.공시 • May 03MRF Limited Recommends Final Dividend for the Financial Year Ended 31 March, 2024MRF Limited announced that at the board meeting held on May 3, 2024 have recommended a final dividend of INR 194 - (1940%) per share of INR 10 each. The Company has already declared and paid two interim dividends of INR 3 (30%) each per share for the financial year ended 31 March, 2024. The total dividend for the financial year ended 31 March 2024 works out to INR 200 - (2000%) per share of INR 10 each.Upcoming Dividend • Feb 14Upcoming dividend of ₹3.00 per share at 0.1% yieldEligible shareholders must have bought the stock before 21 February 2024. Payment date: 11 March 2024. Payout ratio is a comfortable 3.7% but the company is paying out more than the cash it is generating. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.7%).Price Target Changed • Feb 12Price target increased by 8.4% to ₹112,217Up from ₹103,563, the current price target is an average from 9 analysts. New target price is 22% below last closing price of ₹143,803. Stock is up 62% over the past year. The company is forecast to post earnings per share of ₹5,182 for next year compared to ₹1,813 last year.Declared Dividend • Feb 11Dividend of ₹3.00 announcedDividend of ₹3.00 is the same as last year. Ex-date: 21st February 2024 Payment date: 11th March 2024 Dividend yield will be 0.1%, which is lower than the industry average of 0.6%. Payout Ratios Payout ratio: 4%. Cash payout ratio: 129%.Reported Earnings • Feb 10Third quarter 2024 earnings released: EPS: ₹1,202 (vs ₹412 in 3Q 2023)Third quarter 2024 results: EPS: ₹1,202 (up from ₹412 in 3Q 2023). Revenue: ₹62.4b (up 11% from 3Q 2023). Net income: ₹5.10b (up 192% from 3Q 2023). Profit margin: 8.2% (up from 3.1% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth.공시 • Feb 09MRF Limited Declares Second Interim Dividend for the Financial Year Ending 31st March, 2024, Payable on or After 4th March, 2024MRF Limited at its board meeting held on February 9, 2024, the Board of Directors declared a Second Interim Dividend of INR 3 per equity share (30%) for the financial year ending 31st March, 2024. The Company has fixed 21st February, 2024 as the Record Date for the purpose of payment of Second Interim Dividend. The Second Interim Dividend declared will be paid on or after 4th March, 2024.공시 • Jan 25MRF Limited to Report Q3, 2024 Results on Feb 09, 2024MRF Limited announced that they will report Q3, 2024 results on Feb 09, 2024Upcoming Dividend • Nov 10Upcoming dividend of ₹3.00 per share at 0.2% yieldEligible shareholders must have bought the stock before 17 November 2023. Payment date: 03 December 2023. Payout ratio is a comfortable 4.4% but the company is paying out more than the cash it is generating. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.8%).Reported Earnings • Nov 04Second quarter 2024 earnings released: EPS: ₹1,383 (vs ₹306 in 2Q 2023)Second quarter 2024 results: EPS: ₹1,383 (up from ₹306 in 2Q 2023). Revenue: ₹62.2b (up 6.7% from 2Q 2023). Net income: ₹5.87b (up 352% from 2Q 2023). Profit margin: 9.4% (up from 2.2% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.공시 • Nov 04MRF Limited Declares an Interim Dividend for the Financial Year Ending March 31, 2024, Payable on or After November 30, 2023The Board of Directors of MRF Limited has declared an Interim Dividend of INR 3/-per equity share [30%] for the financial year ending March 31, 2024. The company has fixed November 17,2023, as the record date for the purpose of payment of Interim Dividend. The Interim Dividend declared will be paid on or after November 30, 2023.공시 • Oct 22MRF Limited to Report Q2, 2024 Results on Nov 03, 2023MRF Limited announced that they will report Q2, 2024 results on Nov 03, 2023공시 • Sep 26MRF Limited Provides Update on Order Of Competition Commission Of India (CCI) And Subsequent Appeal Pending Before Supreme CourtMRF Limited announced that reference to letters dated 3 February 2022, 2 December 2022 and 14 August 2023. It may be recalled that the CCI had in February 2022 issued its order against MRF Limited, four other Indian tyre manufacturers and also the Automotive Tyre Manufacturers Association, for breach of the Competition Act, 2002 during the year 2011-12. The Commission had imposed a penalty of INR 622.09 Crores on MRF Limited (apart from penalties levied on others). An appeal was preferred against the above order before the National Company Law Appellate Tribunal (NCLAT) and NCLAT had in December 2022 disposed off the appeal by remanding the matter back to CCI for review after hearing the parties. Against this Order of the NCLAT, CCI had filed an appeal before the Supreme Court and the same is pending. In the meantime, MRF Limited had also filed an appeal before the Supreme Court against the Order of NCLAT since NCLAT has, after giving categorical findings in favor of the Appellants (i.e. Tyre Companies and its association), instead of allowing the appeals, erroneously remanded the same back to CCI for review. MRF's appeal came up for hearing and the Supreme Court has ordered notice and tagged the appeal along with the appeal filed by the CCI.New Risk • Sep 26New major risk - Revenue and earnings growthEarnings have declined by 11% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.Major Estimate Revision • Aug 10Consensus EPS estimates increase by 12%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₹4,376 to ₹4,909. Revenue forecast steady at ₹252.6b. Net income forecast to grow 61% next year vs 44% growth forecast for Auto Components industry in India. Consensus price target up from ₹82,563 to ₹91,865. Share price was steady at ₹106,356 over the past week.Price Target Changed • Aug 05Price target increased by 11% to ₹91,865Up from ₹82,563, the current price target is an average from 9 analysts. New target price is 17% below last closing price of ₹111,297. Stock is up 25% over the past year. The company is forecast to post earnings per share of ₹4,255 for next year compared to ₹1,813 last year.Reported Earnings • Aug 04First quarter 2024 earnings released: EPS: ₹1,388 (vs ₹291 in 1Q 2023)First quarter 2024 results: EPS: ₹1,388 (up from ₹291 in 1Q 2023). Revenue: ₹64.4b (up 13% from 1Q 2023). Net income: ₹5.89b (up 376% from 1Q 2023). Profit margin: 9.1% (up from 2.2% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings.공시 • Jul 29MRF Limited Approves Final Dividend on Equity Share of the Company for the Financial Year Ended March 31, 2023MRF Limited approved final dividend of INR 169 per equity share of INR 10 each of the company for the financial year ended March 31, 2023 at the Annual General Meeting held on July 27, 2023.Upcoming Dividend • Jul 13Upcoming dividend of ₹169 per share at 0.2% yieldEligible shareholders must have bought the stock before 20 July 2023. Payment date: 21 August 2023. Payout ratio is a comfortable 9.7% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.8%).Reported Earnings • Jul 06Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: ₹1,813 (up from ₹1,578 in FY 2022). Revenue: ₹230.2b (up 19% from FY 2022). Net income: ₹7.69b (up 15% from FY 2022). Profit margin: 3.3% (down from 3.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.3%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.공시 • Jun 22MRF Limited, Annual General Meeting, Jul 27, 2023MRF Limited, Annual General Meeting, Jul 27, 2023.Price Target Changed • May 10Price target increased by 7.4% to ₹79,982Up from ₹74,468, the current price target is an average from 9 analysts. New target price is 18% below last closing price of ₹97,229. Stock is up 43% over the past year. The company is forecast to post earnings per share of ₹3,840 for next year compared to ₹1,813 last year.Major Estimate Revision • May 10Consensus EPS estimates increase by 12%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₹3,436 to ₹3,840. Revenue forecast steady at ₹246.6b. Net income forecast to grow 112% next year vs 46% growth forecast for Auto Components industry in India. Consensus price target up from ₹74,468 to ₹78,990. Share price rose 3.9% to ₹97,229 over the past week.공시 • May 04MRF Limited Recommends Final Dividend for the Financial Year Ended March 31, 2023MRF Limited at its board meeting held on May 03,2023, recommended a final dividend of INR 169/- (1690%) per share of INR 10 each. The Company has already declared and paid two interim dividends of INR 3/- (30%) each per share for the financial year ended 31st March, 2023. The total dividend for the financial year ended 31 March 2023 works out to INR 175 (1750%) per share of INR 10 each.이익 및 매출 성장 예측NSEI:MRF - 애널리스트 향후 추정치 및 과거 재무 데이터 (INR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수3/31/2029401,90033,50725,84650,01833/31/2028372,57928,66022,77544,60093/31/2027344,70623,53520,52637,62073/31/2026311,49024,26131,56145,903N/A12/31/2025301,97522,300N/AN/AN/A9/30/2025291,47918,53714,17526,742N/A6/30/2025286,50317,987N/AN/AN/A3/31/2025281,71018,6935,59618,678N/A12/31/2024274,32117,533N/AN/AN/A9/30/2024265,93819,47511,76926,871N/A6/30/2024259,29820,635N/AN/AN/A3/31/2024251,73620,81211,39933,034N/A12/31/2023246,68120,258N/AN/AN/A9/30/2023241,50216,90957633,257N/A6/30/2023237,59412,341N/AN/AN/A3/31/2023230,1507,689-5,35827,555N/A12/31/2022224,8675,935N/AN/AN/A9/30/2022217,6235,681-11,10913,556N/A6/30/2022208,4386,273N/AN/AN/A3/31/2022193,3186,692-22,850-5,780N/A12/31/2021188,4988,362N/AN/AN/A9/30/2021185,71312,07335510,826N/A6/30/2021179,07914,292N/AN/AN/A3/31/2021161,84612,77134,71843,246N/A12/31/2020150,76016,239N/AN/AN/A9/30/2020145,10113,44719,99036,369N/A6/30/2020142,29211,628N/AN/AN/A3/31/2020162,83514,226-4,81122,712N/A12/31/2019167,69610,375N/AN/AN/A9/30/2019167,88910,870N/A14,477N/A6/30/2019167,28011,363N/AN/AN/A3/31/2019161,40211,306N/A12,529N/A3/31/2018149,82511,316N/A24,130N/A3/31/2017134,12214,862N/A19,557N/A3/31/2016134,53516,729N/A20,290N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: MRF 의 연간 예상 수익 증가율(10.5%)이 saving rate(6.9%)보다 높습니다.수익 vs 시장: MRF 의 연간 수익(10.5%)이 Indian 시장(16.3%)보다 느리게 성장할 것으로 예상됩니다.고성장 수익: MRF 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: MRF 의 수익(연간 8.4%)이 Indian 시장(연간 10.8%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: MRF 의 수익(연간 8.4%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: MRF의 자본 수익률은 3년 후 12.1%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YAutomobiles 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/22 23:39종가2026/05/22 00:00수익2026/03/31연간 수익2026/03/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스MRF Limited는 25명의 분석가가 다루고 있습니다. 이 중 9명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Annamalai Jayaraj360 ONE Capital Market Private Limitednull nullAnand Rathi Shares and Stock Brokers LimitedMumuksh MandleshaAnand Rathi Shares and Stock Brokers Limited22명의 분석가 더 보기
Price Target Changed • May 11Price target decreased by 7.4% to ₹138,804Down from ₹149,866, the current price target is an average from 10 analysts. New target price is 7.7% above last closing price of ₹128,910. Stock is down 7.9% over the past year. The company is forecast to post earnings per share of ₹5,568 for next year compared to ₹5,720 last year.
분석 기사 • May 10Analysts Are Updating Their MRF Limited (NSE:MRF) Estimates After Its Full-Year ResultsAs you might know, MRF Limited ( NSE:MRF ) recently reported its annual numbers. MRF reported in line with analyst...
분석 기사 • Feb 10Analyst Estimates: Here's What Brokers Think Of MRF Limited (NSE:MRF) After Its Third-Quarter ReportInvestors in MRF Limited ( NSE:MRF ) had a good week, as its shares rose 8.6% to close at ₹145,310 following the...
분석 기사 • Nov 19Analysts Have Made A Financial Statement On MRF Limited's (NSE:MRF) Second-Quarter ReportAs you might know, MRF Limited ( NSE:MRF ) recently reported its second-quarter numbers. Revenues came in 4.1% below...
Price Target Changed • May 12Price target increased by 13% to ₹131,744Up from ₹116,926, the current price target is an average from 10 analysts. New target price is 5.8% below last closing price of ₹139,925. Stock is up 8.6% over the past year. The company is forecast to post earnings per share of ₹5,581 for next year compared to ₹4,408 last year.
Major Estimate Revision • Feb 13Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ₹4,671 to ₹4,156 per share. Revenue forecast steady at ₹281.9b. Net income forecast to grow 22% next year vs 24% growth forecast for Auto Components industry in India. Consensus price target broadly unchanged at ₹116,536. Share price fell 3.8% to ₹109,767 over the past week.
Price Target Changed • May 11Price target decreased by 7.4% to ₹138,804Down from ₹149,866, the current price target is an average from 10 analysts. New target price is 7.7% above last closing price of ₹128,910. Stock is down 7.9% over the past year. The company is forecast to post earnings per share of ₹5,568 for next year compared to ₹5,720 last year.
분석 기사 • May 10Analysts Are Updating Their MRF Limited (NSE:MRF) Estimates After Its Full-Year ResultsAs you might know, MRF Limited ( NSE:MRF ) recently reported its annual numbers. MRF reported in line with analyst...
Reported Earnings • May 08Full year 2026 earnings: EPS misses analyst expectationsFull year 2026 results: EPS: ₹5,720 (up from ₹4,407 in FY 2025). Revenue: ₹311.5b (up 11% from FY 2025). Net income: ₹24.3b (up 30% from FY 2025). Profit margin: 7.8% (up from 6.6% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.
공시 • May 02MRF Limited to Report Fiscal Year 2026 Results on May 07, 2026MRF Limited announced that they will report fiscal year 2026 results at 12:08 PM, Indian Standard Time on May 07, 2026
분석 기사 • Feb 10Analyst Estimates: Here's What Brokers Think Of MRF Limited (NSE:MRF) After Its Third-Quarter ReportInvestors in MRF Limited ( NSE:MRF ) had a good week, as its shares rose 8.6% to close at ₹145,310 following the...
분석 기사 • Feb 09MRF (NSE:MRF) Is Paying Out A Dividend Of ₹3.00MRF Limited ( NSE:MRF ) will pay a dividend of ₹3.00 on the 8th of March. Including this payment, the dividend yield on...
Declared Dividend • Feb 08Dividend of ₹3.00 announcedDividend of ₹3.00 is the same as last year. Ex-date: 13th February 2026 Payment date: 8th March 2026 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (4% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 07Third quarter 2026 earnings released: EPS: ₹1,631 (vs ₹744 in 3Q 2025)Third quarter 2026 results: EPS: ₹1,631 (up from ₹744 in 3Q 2025). Revenue: ₹80.5b (up 15% from 3Q 2025). Net income: ₹6.92b (up 119% from 3Q 2025). Profit margin: 8.6% (up from 4.5% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 18% per year.
공시 • Jan 27MRF Limited to Report Q3, 2026 Results on Feb 06, 2026MRF Limited announced that they will report Q3, 2026 results on Feb 06, 2026
분석 기사 • Dec 27Slowing Rates Of Return At MRF (NSE:MRF) Leave Little Room For ExcitementWhat trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...
분석 기사 • Dec 09MRF (NSE:MRF) Has A Pretty Healthy Balance SheetHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
분석 기사 • Nov 19Analysts Have Made A Financial Statement On MRF Limited's (NSE:MRF) Second-Quarter ReportAs you might know, MRF Limited ( NSE:MRF ) recently reported its second-quarter numbers. Revenues came in 4.1% below...
Declared Dividend • Nov 16Dividend of ₹3.00 announcedShareholders will receive a dividend of ₹3.00. Ex-date: 21st November 2025 Payment date: 14th December 2025 Dividend yield will be 0.1%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (5% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 69% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 15Second quarter 2026 earnings released: EPS: ₹1,239 (vs ₹1,110 in 2Q 2025)Second quarter 2026 results: EPS: ₹1,239 (up from ₹1,110 in 2Q 2025). Revenue: ₹73.8b (up 7.2% from 2Q 2025). Net income: ₹5.26b (up 12% from 2Q 2025). Profit margin: 7.1% (up from 6.8% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
공시 • Nov 04MRF Limited to Report Q2, 2026 Results on Nov 14, 2025MRF Limited announced that they will report Q2, 2026 results on Nov 14, 2025
분석 기사 • Oct 11Some Confidence Is Lacking In MRF Limited's (NSE:MRF) P/EWhen close to half the companies in India have price-to-earnings ratios (or "P/E's") below 27x, you may consider MRF...
분석 기사 • Sep 20The Return Trends At MRF (NSE:MRF) Look PromisingWhat trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...
Reported Earnings • Aug 13First quarter 2026 earnings: EPS and revenues miss analyst expectationsFirst quarter 2026 results: EPS: ₹1,180 (down from ₹1,346 in 1Q 2025). Revenue: ₹76.8b (up 6.7% from 1Q 2025). Net income: ₹5.00b (down 12% from 1Q 2025). Profit margin: 6.5% (down from 7.9% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
공시 • Aug 01MRF Limited to Report Q1, 2026 Results on Aug 12, 2025MRF Limited announced that they will report Q1, 2026 results on Aug 12, 2025
분석 기사 • Aug 01It's Unlikely That MRF Limited's (NSE:MRF) CEO Will See A Huge Pay Rise This YearKey Insights MRF will host its Annual General Meeting on 7th of August Total pay for CEO K. M. Mammen includes ₹190.2m...
분석 기사 • Jul 22MRF's (NSE:MRF) Sluggish Earnings Might Be Just The Beginning Of Its ProblemsA lackluster earnings announcement from MRF Limited ( NSE:MRF ) last week didn't sink the stock price. Our analysis...
Reported Earnings • Jul 15Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: ₹4,407 (down from ₹4,907 in FY 2024). Revenue: ₹281.7b (up 12% from FY 2024). Net income: ₹18.7b (down 10% from FY 2024). Profit margin: 6.6% (down from 8.3% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Jul 05Dividend increased to ₹229Dividend of ₹229 is 18% higher than last year. Ex-date: 18th July 2025 Payment date: 6th September 2025 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
공시 • Jul 03MRF Limited, Annual General Meeting, Aug 07, 2025MRF Limited, Annual General Meeting, Aug 07, 2025.
분석 기사 • Jun 15We Think MRF (NSE:MRF) Can Stay On Top Of Its DebtDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
분석 기사 • May 28Returns At MRF (NSE:MRF) Appear To Be Weighed DownIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Price Target Changed • May 12Price target increased by 13% to ₹131,744Up from ₹116,926, the current price target is an average from 10 analysts. New target price is 5.8% below last closing price of ₹139,925. Stock is up 8.6% over the past year. The company is forecast to post earnings per share of ₹5,581 for next year compared to ₹4,408 last year.
Reported Earnings • May 09Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: ₹4,408 (down from ₹4,907 in FY 2024). Revenue: ₹285.6b (up 14% from FY 2024). Net income: ₹18.7b (down 10% from FY 2024). Profit margin: 6.5% (down from 8.3% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
공시 • May 01MRF Limited to Report Fiscal Year 2025 Results on May 07, 2025MRF Limited announced that they will report fiscal year 2025 results on May 07, 2025
Major Estimate Revision • Feb 13Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ₹4,671 to ₹4,156 per share. Revenue forecast steady at ₹281.9b. Net income forecast to grow 22% next year vs 24% growth forecast for Auto Components industry in India. Consensus price target broadly unchanged at ₹116,536. Share price fell 3.8% to ₹109,767 over the past week.
Declared Dividend • Feb 08Dividend of ₹3.00 announcedShareholders will receive a dividend of ₹3.00. Ex-date: 14th February 2025 Payment date: 8th March 2025 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (5% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 46% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 07Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2025 results: EPS: ₹744 (down from ₹1,202 in 3Q 2024). Revenue: ₹70.0b (up 14% from 3Q 2024). Net income: ₹3.15b (down 38% from 3Q 2024). Profit margin: 4.5% (down from 8.3% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 27%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.
공시 • Feb 06MRF Limited Declares Second Interim Dividend for the Financial Year Ending March 31, 2025, Payable on or After February 25, 2025MRF Limited announced that at the Board of Directors meeting held 6 February, 2025, the Board of Directors has declared a Second Interim Dividend of INR 3 per equity share [30%] for the financial year ending 31 March, 2025. The Company has fixed 14th February, 2025 as the record date for the purpose of payment of Second Interim Dividend. The Second Interim Dividend declared will be paid on or after 25February, 2025.
공시 • Jan 29MRF Limited to Report Q3, 2025 Results on Feb 06, 2025MRF Limited announced that they will report Q3, 2025 results on Feb 06, 2025
Declared Dividend • Nov 11Dividend of ₹3.00 announcedDividend of ₹3.00 is the same as last year. Ex-date: 19th November 2024 Payment date: 8th December 2024 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (4% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 09Second quarter 2025 earnings released: EPS: ₹1,110 (vs ₹1,383 in 2Q 2024)Second quarter 2025 results: EPS: ₹1,110 (down from ₹1,383 in 2Q 2024). Revenue: ₹69.9b (up 13% from 2Q 2024). Net income: ₹4.71b (down 20% from 2Q 2024). Profit margin: 6.7% (down from 9.4% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.
공시 • Nov 08MRF Limited Declares Interim Dividend, Payable on or After November 29, 2024MRF Limited announced that at the board meeting held on November 8, 2024, declared an Interim Dividend of INR 3/-per equity share [30%] for the financial year ending March 31, 2025. The company has fixed 19 November, 2024, as the record date for the purpose of payment of Interim Dividend. The Interim Dividend declared will be paid on or after November 29, 2024.
공시 • Oct 23+ 1 more updateMRF Limited to Report Q2, 2025 Results on Nov 08, 2024MRF Limited announced that they will report Q2, 2025 results on Nov 08, 2024
공시 • Sep 29MRF Limited Announces Cessation of DirectorsMRF Limited announced that consequent to the completion of their second term, Mr. Ashok Jacob (00018605), Mr. V Sridhar (DIN: 00020276), Mr. Vijay R Kirloskar (DIN: 00031253), Mr. Ranjit I. Jesudasen (DIN: 00020181), Dr. Salim Joseph Thomas (DIN: 00033022) and Mr. Jacob Kurian (DIN: 00860095) cease to be Independent Directors with effect from the close of business hours of September 28, 2024.
Reported Earnings • Aug 09First quarter 2025 earnings released: EPS: ₹1,346 (vs ₹1,388 in 1Q 2024)First quarter 2025 results: EPS: ₹1,346 (down from ₹1,388 in 1Q 2024). Revenue: ₹72.0b (up 12% from 1Q 2024). Net income: ₹5.71b (down 3.0% from 1Q 2024). Profit margin: 7.9% (down from 9.1% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.
공시 • Aug 02MRF Limited Declares Final Dividend for the Financial Year Ended 31St March, 2024MRF Limited Declaration of a final dividend of INR 194/- (1940%) per equity share of INR 10 each of the Company for the financial year ended 31st March, 2024.
공시 • Jul 24MRF Limited to Report Q1, 2025 Results on Aug 08, 2024MRF Limited announced that they will report Q1, 2025 results on Aug 08, 2024
Upcoming Dividend • Jul 18Upcoming dividend of ₹194 per shareEligible shareholders must have bought the stock before 25 July 2024. Payment date: 31 August 2024. Payout ratio is a comfortable 4.1% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.5%).
Reported Earnings • Jul 07Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: ₹4,907 (up from ₹1,813 in FY 2023). Revenue: ₹251.7b (up 9.4% from FY 2023). Net income: ₹20.8b (up 171% from FY 2023). Profit margin: 8.3% (up from 3.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.5%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 17% per year.
Declared Dividend • Jun 29Dividend increased to ₹194Dividend of ₹194 is 15% higher than last year. Ex-date: 25th July 2024 Payment date: 31st August 2024 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is well covered by both earnings (4% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
공시 • Jun 28MRF Limited, Annual General Meeting, Aug 01, 2024MRF Limited, Annual General Meeting, Aug 01, 2024.
Price Target Changed • May 07Price target decreased by 7.1% to ₹108,034Down from ₹116,299, the current price target is an average from 9 analysts. New target price is 13% below last closing price of ₹124,515. Stock is up 28% over the past year. The company is forecast to post earnings per share of ₹4,698 for next year compared to ₹4,907 last year.
Reported Earnings • May 04Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: ₹4,907 (up from ₹1,813 in FY 2023). Revenue: ₹254.9b (up 11% from FY 2023). Net income: ₹20.8b (up 171% from FY 2023). Profit margin: 8.2% (up from 3.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.5%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 18% per year.
공시 • May 03MRF Limited Recommends Final Dividend for the Financial Year Ended 31 March, 2024MRF Limited announced that at the board meeting held on May 3, 2024 have recommended a final dividend of INR 194 - (1940%) per share of INR 10 each. The Company has already declared and paid two interim dividends of INR 3 (30%) each per share for the financial year ended 31 March, 2024. The total dividend for the financial year ended 31 March 2024 works out to INR 200 - (2000%) per share of INR 10 each.
Upcoming Dividend • Feb 14Upcoming dividend of ₹3.00 per share at 0.1% yieldEligible shareholders must have bought the stock before 21 February 2024. Payment date: 11 March 2024. Payout ratio is a comfortable 3.7% but the company is paying out more than the cash it is generating. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.7%).
Price Target Changed • Feb 12Price target increased by 8.4% to ₹112,217Up from ₹103,563, the current price target is an average from 9 analysts. New target price is 22% below last closing price of ₹143,803. Stock is up 62% over the past year. The company is forecast to post earnings per share of ₹5,182 for next year compared to ₹1,813 last year.
Declared Dividend • Feb 11Dividend of ₹3.00 announcedDividend of ₹3.00 is the same as last year. Ex-date: 21st February 2024 Payment date: 11th March 2024 Dividend yield will be 0.1%, which is lower than the industry average of 0.6%. Payout Ratios Payout ratio: 4%. Cash payout ratio: 129%.
Reported Earnings • Feb 10Third quarter 2024 earnings released: EPS: ₹1,202 (vs ₹412 in 3Q 2023)Third quarter 2024 results: EPS: ₹1,202 (up from ₹412 in 3Q 2023). Revenue: ₹62.4b (up 11% from 3Q 2023). Net income: ₹5.10b (up 192% from 3Q 2023). Profit margin: 8.2% (up from 3.1% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth.
공시 • Feb 09MRF Limited Declares Second Interim Dividend for the Financial Year Ending 31st March, 2024, Payable on or After 4th March, 2024MRF Limited at its board meeting held on February 9, 2024, the Board of Directors declared a Second Interim Dividend of INR 3 per equity share (30%) for the financial year ending 31st March, 2024. The Company has fixed 21st February, 2024 as the Record Date for the purpose of payment of Second Interim Dividend. The Second Interim Dividend declared will be paid on or after 4th March, 2024.
공시 • Jan 25MRF Limited to Report Q3, 2024 Results on Feb 09, 2024MRF Limited announced that they will report Q3, 2024 results on Feb 09, 2024
Upcoming Dividend • Nov 10Upcoming dividend of ₹3.00 per share at 0.2% yieldEligible shareholders must have bought the stock before 17 November 2023. Payment date: 03 December 2023. Payout ratio is a comfortable 4.4% but the company is paying out more than the cash it is generating. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.8%).
Reported Earnings • Nov 04Second quarter 2024 earnings released: EPS: ₹1,383 (vs ₹306 in 2Q 2023)Second quarter 2024 results: EPS: ₹1,383 (up from ₹306 in 2Q 2023). Revenue: ₹62.2b (up 6.7% from 2Q 2023). Net income: ₹5.87b (up 352% from 2Q 2023). Profit margin: 9.4% (up from 2.2% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.
공시 • Nov 04MRF Limited Declares an Interim Dividend for the Financial Year Ending March 31, 2024, Payable on or After November 30, 2023The Board of Directors of MRF Limited has declared an Interim Dividend of INR 3/-per equity share [30%] for the financial year ending March 31, 2024. The company has fixed November 17,2023, as the record date for the purpose of payment of Interim Dividend. The Interim Dividend declared will be paid on or after November 30, 2023.
공시 • Oct 22MRF Limited to Report Q2, 2024 Results on Nov 03, 2023MRF Limited announced that they will report Q2, 2024 results on Nov 03, 2023
공시 • Sep 26MRF Limited Provides Update on Order Of Competition Commission Of India (CCI) And Subsequent Appeal Pending Before Supreme CourtMRF Limited announced that reference to letters dated 3 February 2022, 2 December 2022 and 14 August 2023. It may be recalled that the CCI had in February 2022 issued its order against MRF Limited, four other Indian tyre manufacturers and also the Automotive Tyre Manufacturers Association, for breach of the Competition Act, 2002 during the year 2011-12. The Commission had imposed a penalty of INR 622.09 Crores on MRF Limited (apart from penalties levied on others). An appeal was preferred against the above order before the National Company Law Appellate Tribunal (NCLAT) and NCLAT had in December 2022 disposed off the appeal by remanding the matter back to CCI for review after hearing the parties. Against this Order of the NCLAT, CCI had filed an appeal before the Supreme Court and the same is pending. In the meantime, MRF Limited had also filed an appeal before the Supreme Court against the Order of NCLAT since NCLAT has, after giving categorical findings in favor of the Appellants (i.e. Tyre Companies and its association), instead of allowing the appeals, erroneously remanded the same back to CCI for review. MRF's appeal came up for hearing and the Supreme Court has ordered notice and tagged the appeal along with the appeal filed by the CCI.
New Risk • Sep 26New major risk - Revenue and earnings growthEarnings have declined by 11% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.
Major Estimate Revision • Aug 10Consensus EPS estimates increase by 12%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₹4,376 to ₹4,909. Revenue forecast steady at ₹252.6b. Net income forecast to grow 61% next year vs 44% growth forecast for Auto Components industry in India. Consensus price target up from ₹82,563 to ₹91,865. Share price was steady at ₹106,356 over the past week.
Price Target Changed • Aug 05Price target increased by 11% to ₹91,865Up from ₹82,563, the current price target is an average from 9 analysts. New target price is 17% below last closing price of ₹111,297. Stock is up 25% over the past year. The company is forecast to post earnings per share of ₹4,255 for next year compared to ₹1,813 last year.
Reported Earnings • Aug 04First quarter 2024 earnings released: EPS: ₹1,388 (vs ₹291 in 1Q 2023)First quarter 2024 results: EPS: ₹1,388 (up from ₹291 in 1Q 2023). Revenue: ₹64.4b (up 13% from 1Q 2023). Net income: ₹5.89b (up 376% from 1Q 2023). Profit margin: 9.1% (up from 2.2% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings.
공시 • Jul 29MRF Limited Approves Final Dividend on Equity Share of the Company for the Financial Year Ended March 31, 2023MRF Limited approved final dividend of INR 169 per equity share of INR 10 each of the company for the financial year ended March 31, 2023 at the Annual General Meeting held on July 27, 2023.
Upcoming Dividend • Jul 13Upcoming dividend of ₹169 per share at 0.2% yieldEligible shareholders must have bought the stock before 20 July 2023. Payment date: 21 August 2023. Payout ratio is a comfortable 9.7% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.8%).
Reported Earnings • Jul 06Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: ₹1,813 (up from ₹1,578 in FY 2022). Revenue: ₹230.2b (up 19% from FY 2022). Net income: ₹7.69b (up 15% from FY 2022). Profit margin: 3.3% (down from 3.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.3%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Auto Components industry in India. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.
공시 • Jun 22MRF Limited, Annual General Meeting, Jul 27, 2023MRF Limited, Annual General Meeting, Jul 27, 2023.
Price Target Changed • May 10Price target increased by 7.4% to ₹79,982Up from ₹74,468, the current price target is an average from 9 analysts. New target price is 18% below last closing price of ₹97,229. Stock is up 43% over the past year. The company is forecast to post earnings per share of ₹3,840 for next year compared to ₹1,813 last year.
Major Estimate Revision • May 10Consensus EPS estimates increase by 12%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₹3,436 to ₹3,840. Revenue forecast steady at ₹246.6b. Net income forecast to grow 112% next year vs 46% growth forecast for Auto Components industry in India. Consensus price target up from ₹74,468 to ₹78,990. Share price rose 3.9% to ₹97,229 over the past week.
공시 • May 04MRF Limited Recommends Final Dividend for the Financial Year Ended March 31, 2023MRF Limited at its board meeting held on May 03,2023, recommended a final dividend of INR 169/- (1690%) per share of INR 10 each. The Company has already declared and paid two interim dividends of INR 3/- (30%) each per share for the financial year ended 31st March, 2023. The total dividend for the financial year ended 31 March 2023 works out to INR 175 (1750%) per share of INR 10 each.