A fundamental analysis of MRF Ltd. (MRF) covering revenue trends, profitability, valuation, and shareholding patterns.
MRF Tyres Revenue Trend
MRF Ltd. reported revenue of ₹28,561 Cr in FY2025, a 12.1% increase from ₹25,486 Cr in FY2024.
Stepping back, the 11-year revenue CAGR of 7.2% shows MRF Ltd. has been growing at a moderate, sustainable pace.
With a top line of ₹28,561 Cr, MRF Ltd. operates at a major scale within the tyres sector.
It's been 4 years of continuous revenue growth for MRF Ltd. — a pattern worth noting.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹28,561 Cr | +12.1% |
| FY2024 | ₹25,486 Cr | +9.6% |
| FY2023 | ₹23,261 Cr | +18.5% |
| FY2022 | ₹19,634 Cr | +21.5% |
| FY2021 | ₹16,163 Cr | — |
View MRF Ltd.'s full 10-year revenue trend with CAGR analysis →
MRF Tyres Profitability
MRF Ltd.'s bottom line weakened to ₹1,869 Cr in FY2025, a 10.2% decline year-over-year.
On the margin front, the picture weakened — net margin fell to 6.5% from 8.2%.
At ₹4407.51 per share (diluted), FY2025 earnings were down year-over-year from ₹4907.24.
Is MRF Tyres Undervalued
Per the P/E Ratio model, MRF Ltd. has an estimated intrinsic value of ₹143,225 (14.1% upside).
MRF Ltd. shares are currently trading at ₹125,515.00.
Craytheon also calculates intrinsic value using the EPS Growth and DCF models. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹143,225 | 14.1% upside to fair value |
| EPS Growth | Upgrade | Upgrade |
| DCF | Upgrade | Upgrade |
See all valuation models for MRF Ltd. with detailed assumptions →
MRF Tyres Shareholding Pattern
Promoters haven't moved — their 27.8% holding has been unchanged for 4 quarters.
Foreign investors held 18.0% of the company as of March 2026, down year-over-year from 18.7%.
The DII stake stands at 12.2% as of March 2026, versus 11.7% in the year-ago period.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 27.8% | 18.0% | 12.2% | 42.0% |
| Dec 2025 | 27.7% | 18.2% | 12.5% | 41.6% |
| Sep 2025 | 27.7% | 18.3% | 12.4% | 41.6% |
| Jun 2025 | 27.8% | 18.7% | 11.7% | 41.9% |
Track quarterly shareholding changes for MRF Ltd. →
MRF Tyres Balance Sheet
Proportional view as of 12 Jun 2026. Hover blocks for details.
Assets
Liabilities & Equity
Total assets stood at ₹295.67B at the end of FY2025, up 10.1% from ₹268.49B a year earlier.
Property, Plant & Equipment is the largest block at 45.7%, followed by Inventories at 19.0% and Cash & ST Investments at 12.8%.
Equity makes up 62.5% of liabilities and equity, with debt at 12.8% and operating liabilities at 24.7%. Over the year, debt is up 33.7% and equity is up 10.7%.
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 37.84B |
| Receivables | 33.70B |
| Inventories | 56.25B |
| Property, Plant & Equipment | 135.18B |
| Investments | 11.35B |
| Intangibles & Goodwill | 213.30M |
| Other Assets | 21.14B |
| Category | Value |
|---|---|
| Equity | 184.89B |
| Short-term Debt | 26.41B |
| Long-term Debt | 11.30B |
| Trade Payables | 28.22B |
| Other Liabilities | 44.85B |
MRF Tyres Stock Analysis
Bringing the key threads together for MRF Ltd. (MRF) as a tyres investment opportunity.
Revenue of ₹28,561 Cr in FY2025, up 12.1% year-over-year.
Long-term revenue has been compounding at 7.2% annually over 11 years.
The company is profitable, with a net margin of 6.5% and net income of ₹1,869 Cr.
The P/E Ratio model implies 14.1% upside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
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