Indian tire manufacturer Madras Rubber Factory is based in Chennai, in the state of Tamil Nadu. MRF, established by K. M. Mammen Mappillai in 1946, is among India’s driving makers and dealers of tyres and commodities its items overall too. MRF is the name of a tire manufacturing company that also happens to be the MRF Group’s parent company.
MRF Share Price Target 2024-2030
In this article, we will discuss the Indian stock market company with the highest share price. You might be wondering, “What could be the price of MRF shares in 2024?” How much will each MRF share cost in 2025? Therefore, let’s make forecasts for the MRF Share price target for the years 2024, 2025, 2026, 2030, and 2050 in this article. Remain associated with us in the article and read the total article for more data.
MRF Share Price Target Today Update
MRF represents Madras Rubber Factory, settled in Chennai, Tamilnadu. Other than being the prevailing player in tire assembling and deals in the Indian market, MRF likewise has a fortification in sending out tyres universally. MRF currently operates ten manufacturing facilities to meet market demand and has a 29 percent share of the tyre manufacturing market in India. Investors rely on MRF stock, the most expensive stock on India’s National Stock Exchange, to provide excellent return on investment.
MRF Latest News
- On Wednesday, the MRF Share Price Today increased by 106 percent on the National Stock Exchange.
- MRF NSEStock opened at Rs 131,793.05 at 9:17 a.m., reached Rs 133,803 at 12:24 p.m., and then dropped to Rs 131,800.50 at 3:16 p.m.
- This demonstrates the erratic behavior investors in MRF Ltd. face. MRF stock has been declining steadily for the last 30 days of trading.
- The main line truck tyre “Steel Muscle” will now cost Rs 350 per piece as of March 4th, according to a statement from MRF Ltd.
- MRF SharePrices managed to rise to Rs 150,000 per share on the stock exchange in December 2023, when their market capitalization reached Rs 50,000 crore.
- In any case, India’s driving tire maker share costs have diminished by 10% on the stock trade.
MRF Business Profile
The company is well-known for producing tyres for a variety of vehicles, including passenger cars, two-wheelers, three-wheelers, OTR trucks, farm tractors, LCVs, tubes and flaps, SCVs, pick up cars, MCVs, and ICVs. Pretreads, paints & coats, and sporting goods are among the company’s other products. The company also makes games, puzzles, and toys for kids under the Funskool brand. Administrations incorporate T&S, tiretok, Tyredrome, MRF Fasst, muscle Zone, and Midd.
Market Position
In the extended period of 2021 Organization has 29% offer in Indian tire industry. Despite this, it ranks sixth among India’s ten strongest brands.
- Automobile Tyres: 90% in FY22 vs 88% in FY18.
- Automobile Tubes: 6% in FY22 vs 8% in FY18.
- Others: 4% in FY22 vs 4% in FY18.
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Geographical Presence
In FY22, exports accounted for 91% of total sales; by FY22, exports had increased to 9%. Tire sales increased by 33% from the previous year as a result of robust markets in Bangladesh, the Philippines, Indonesia, Africa, and the Middle East.
Manufacturing Facilities
organization has nine creation plants situated in various pieces of India including Tamil Nadu, Kerala, Andhra Pradesh, Gujarat, Goa, Puducherry and Telangana.” MRF Corp Limited, MRF International Limited, MRF Lanka (P) Ltd, and MRF SG PTE are the four subsidiaries of the company. LTD.
MRF Motor Sports
MRF is the only Indian manufacturer of formula car tyres , high-quality rally tyres for tarmac and dirt, motocross tyres, and FIA-CIK karting tyres. It is the largest promoter of rallying in India. The MRF Challenge is without a doubt one of the most prestigious racing series in the world. It is a championship that uses the MRF Formula 2000 car. In the MRF Challenge series, around 20 drivers from all over the world compete each year.
MRF Pace Foundation
The MRF Pace Foundation, India’s international pace bowling academy, was established in 1987 with the goal of developing top pace bowlers for India. Additionally, the establishment has gone into concurrences with regulates cricket sheets like Cricket Australia, West Indies Cricket Board (WICB), Britain and Ribs Cricket Board (ECB) among others.
New Products
Co has launched vehicle tire called the MRF Markus, which is explicitly intended for extravagance SUVs, while the bike tyres have presented Critic C1 TL for bikes; Critic V TL for individuals who own Aprilia Tempests and REVZ MG TL for Yamaha motorbikes. It also introduces the MRK-X Plus off-road tyres, which promise to be more durable, and the MRK-E3 tyres, which are designed for vehicles that are used to carrying heavy loads.
MRF Fundamentals & Quarterly Results
| Market Cap | ₹ 54,399 Cr. |
| Current Price | ₹ 1,28,300 |
| High / Low | ₹ 1,51,445 / 99,000 |
| Stock P/E | 26.1 |
| Book Value | ₹ 39,384 |
| Dividend Yield | 0.15 % |
| ROCE | 16.9 % |
| ROE | 13.2 % |
| Face Value | ₹ 10.0 |
| Debt to Equity | 0.17 |
| Debt Capacity | 0.15 |
| Debt Preceding Year | ₹ 3,014 Cr. |
| Debt | ₹ 2,822 Cr. |
| Reserves | ₹ 16,699 Cr. |
| EPS | ₹ 4,907 |
| EPS Last Year | ₹ 4,907 |
| Pledged Percentage | 0.09 % |
| FCF Previous Annual | ₹ -535 Cr. |
| EV/EBITDA | 12.4 |
| Industry P/E | 27.5 |
| PEG Ratio | 2.01 |
| Piotroski Score | 8.00 |
| Earnings Yield | 5.47 % |
| Sales Growth (5 Years) | 9.40 % |
MRF Quarterly Results
| Metric | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
| Sales (₹ Cr.) | 5,305 | 5,696 | 5,826 | 5,645 | 5,842 | 6,440 | 6,217 | 6,162 | 6,349 |
| Expenses (₹ Cr.) | 4,765 | 5,203 | 5,346 | 5,083 | 4,988 | 5,310 | 5,060 | 5,108 | 5,437 |
| Operating Profit (₹ Cr.) | 540 | 493 | 481 | 562 | 854 | 1,130 | 1,157 | 1,055 | 912 |
| OPM % | 10% | 9% | 8% | 10% | 15% | 18% | 19% | 17% | 14% |
| Other Income (₹ Cr.) | 66 | 34 | 77 | 71 | 70 | 75 | 71 | 78 | 94 |
| Interest (₹ Cr.) | 67 | 66 | 75 | 86 | 92 | 84 | 86 | 90 | 93 |
| Depreciation (₹ Cr.) | 311 | 298 | 309 | 316 | 330 | 333 | 351 | 360 | 385 |
| Profit Before Tax (₹ Cr.) | 228 | 164 | 174 | 231 | 501 | 787 | 791 | 682 | 527 |
| Tax % | 28% | 25% | 25% | 24% | 32% | 25% | 26% | 25% | 25% |
| Net Profit (₹ Cr.) | 165 | 124 | 130 | 175 | 341 | 589 | 587 | 510 | 396 |
| EPS (₹) | 389.52 | 291.43 | 306.19 | 412.23 | 803.19 | 1,388.20 | 1,383.27 | 1,201.83 | 933.96 |
CAGR Report
| Metric | 10 Years | 5 Years | 3 Years | 1 Year/TTM |
| Compounded Sales Growth | 7% | 9% | 16% | 9% (TTM) |
| Compounded Profit Growth | 10% | 13% | 18% | 197% (TTM) |
| Stock Price CAGR | 18% | 18% | 17% | 28% (1 Year) |
| Return on Equity | 12% | 9% | 8% | 13% (Last Year) |
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MRF Shareholding Pattern
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Promoters | 27.37% | 27.54% | 27.74% | 27.88% | 27.84% | 27.95% | 27.85% | 27.78% |
| FIIs | 10.07% | 7.99% | 6.11% | 5.24% | 13.48% | 15.54% | 18.05% | 19.75% |
| DIIs | 10.52% | 13.46% | 15.37% | 17.77% | 14.28% | 11.73% | 11.65% | 10.57% |
| Public | 52.04% | 51.01% | 50.79% | 49.11% | 44.40% | 44.79% | 42.45% | 41.92% |
| No. of Shareholders | 38,782 | 46,283 | 61,429 | 63,243 | 50,630 | 66,786 | 43,500 | 47,663 |
MRF Share Price Target 2024-2030 Forecast
| Year | Initial Target | Mid-Year Target | Year-End Target |
| 2024 | ₹147552.99 | ₹170020.17 | ₹183500.48 |
| 2025 | ₹187170 | ₹175917 | ₹209996 |
| 2026 | ₹214196 | ₹201320 | ₹240319 |
| 2027 | ₹245125 | ₹230391 | ₹275022 |
| 2028 | ₹280522 | ₹263659 | ₹314733 |
| 2029 | ₹321028 | ₹301730 | ₹360179 |
| 2030 | ₹367383 | ₹345299 | ₹412188 |
MRF Share Price Target 2025
| Month | Target |
| January | ₹187170 |
| February | ₹190913 |
| March | ₹194731 |
| April | ₹188246 |
| May | ₹181977 |
| June | ₹175917 |
| July | ₹182954 |
| August | ₹190272 |
| September | ₹197883 |
| October | ₹201841 |
| November | ₹205878 |
| December | ₹209996 |
MRF Share Price Target 2026
| Month | Target |
| January | ₹214196 |
| February | ₹218480 |
| March | ₹222850 |
| April | ₹215429 |
| May | ₹208255 |
| June | ₹201320 |
| July | ₹209373 |
| August | ₹217748 |
| September | ₹226458 |
| October | ₹230987 |
| November | ₹235607 |
| December | ₹240319 |
MRF Share Price Target 2027
| Month | Target |
| January | ₹245125 |
| February | ₹250028 |
| March | ₹255029 |
| April | ₹246537 |
| May | ₹238327 |
| June | ₹230391 |
| July | ₹239607 |
| August | ₹249191 |
| September | ₹259159 |
| October | ₹264342 |
| November | ₹269629 |
| December | ₹275022 |
MRF Share Price Target 2028
| Month | Target |
| January | ₹280522 |
| February | ₹286132 |
| March | ₹291855 |
| April | ₹282136 |
| May | ₹272741 |
| June | ₹263659 |
| July | ₹274205 |
| August | ₹285173 |
| September | ₹296580 |
| October | ₹302512 |
| November | ₹308562 |
| December | ₹314733 |
MRF Share Price Target 2029
| Month | Target |
| January | ₹321028 |
| February | ₹327449 |
| March | ₹333998 |
| April | ₹322876 |
| May | ₹312124 |
| June | ₹301730 |
| July | ₹313799 |
| August | ₹326351 |
| September | ₹339405 |
| October | ₹346193 |
| November | ₹353117 |
| December | ₹360179 |
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MRF Share Price Target 2030
| Month | Target |
| January | ₹367383 |
| February | ₹374731 |
| March | ₹382226 |
| April | ₹369498 |
| May | ₹357194 |
| June | ₹345299 |
| July | ₹359111 |
| August | ₹373475 |
| September | ₹388414 |
| October | ₹396182 |
| November | ₹404106 |
| December | ₹412188 |
Points Before Investing in MRF Stock
- MRF tyres are trying to get into the EV tyres market because there is a strong chance that the EV market will grow in India and around the world.
- MRF tyres Chairman and Managing Director KM Mammen stated in July of last year that the company is constantly conducting in-depth research and development on the upcoming challenges and innovations necessary to defeat competition.
- As India’s leading tire manufacturer company sought to purchase wind power under the captive power policy, MRF Ltd. is now prepared to diversify its portfolio.
- MRF Restricted second from last quarter results portray a splendid monetary and business scale state of India’s greatest tire organization.
- In Q3rd, 2023, MRF PAT (benefit after charge) expanded by 3x to Rs 509.71 crores. This huge leap is a consequence of the decline in the expense of materials.
Final Words
MRF tyres are trying to get into the EV tyres market because there is a strong chance that the EV market will grow in India and around the world. MRF tyres Chairman and Managing Director KM Mammen stated in July of last year that the company is constantly conducting in-depth research and development on the upcoming challenges and innovations necessary to defeat competition.
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