MRF Ltd
About
MRF, less popularly known as Madras Rubber Factory, is a multinational company headquartered in Chennai. It was established in 1946 by Mammen Mappillai as a balloon toy manufacturing company in Madras. Today, it has diversified to produce tires, sports goods, paints and coats, and gifting for kids. MRF is India’s largest tire maker, with offerings for passenger cars, two-wheelers, trucks, off-the-road vehicles, and both small and large commercial vehicles. Through Funskool, an MRF brand, the company caters to children’s needs in terms of learning and gifting purposes. Additionally, Vapocure, another MRF brand, provides paints and coats across 17 states in the Indian market. MRF is deeply connected with cricket. It provides sporting goods like kits, bats, and gloves under its sporting goods vertical. MRF’s Pace Foundation has also established Pace Academy, with Glenn McGrath at its helm, dedicated towards cultivating the next best fast bowlers.
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Financial Data 2024
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Financial Data
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (INR Cr) | 25670 8.7% | 23608 15.2% | 20490 27.9% | 16019 -3.3% | 16557 -3.2% | 17098 12.4% | 15207 8.9% | 13971 -31.9% | 20518 53.3% | 13382 8.8% | 12301 2.3% | 12027 14.7% | 10487 37.4% | 7632 39.2% | 5482 5.9% | 5179 - |
| Net Operating Income (INR Cr) | 25169 9.39% | 23009 19.11% | 19317 19.51% | 16163 -0.47% | 16239 1.10% | 16062 7.41% | 14954 11.50% | 13412 -33.54% | 20180 51.39% | 13330 8.84% | 12248 2.35% | 11967 22.72% | 9752 30.74% | 7459 31.59% | 5668 12.27% | 5049 14.87% |
| Profit (INR Cr) | 2081 170.7% | 769 14.9% | 669 -47.6% | 1277 -10.2% | 1423 25.8% | 1131 -0.1% | 1132 -23.9% | 1486 -40.8% | 2509 176.3% | 908 12.3% | 809 39.6% | 579 -6.4% | 619 73.1% | 358 42.6% | 251 74.8% | 143 - |
| Assets (INR Cr) | 20120 10.7% | 18171 2.3% | 17768 9.7% | 16198 9.2% | 14836 9.2% | 13588 12.2% | 12112 8.7% | 11139 13.1% | 9850 28.3% | 7679 20.5% | 6373 14.5% | 5565 17.9% | 4719 55.1% | 3043 50.1% | 2028 -14.3% | 2366 - |
| Net Worth (INR Cr) | 16703 13.6% | 14708 4.8% | 14032 4.6% | 13414 9.8% | 12215 12.7% | 10837 11.3% | 9738 12.7% | 8641 19.6% | 7224 59.1% | 4540 24.2% | 3655 27.8% | 2861 24.7% | 2294 35.9% | 1688 24.5% | 1356 21.4% | 1117 13.6% |
| Employee Cost (INR Cr) | 1797 12.6% | 1595 6.2% | 1502 6.1% | 1415 5.2% | 1345 15.4% | 1165 6.7% | 1092 9.2% | 1000 -22.2% | 1285 73.1% | 742 21.4% | 612 17.3% | 521 16.6% | 447 18.1% | 379 19.4% | 317 14.9% | 276 - |
| Interest Cost (INR Cr) | 361 | 326 | 263 | 282 | 301 | 273 | 259 | 257 | 361 | 232 | 196 | 159 | 98 | 63 | 69 | 66 |
| Cash & Bank Balance (INR Cr) | 345 | 258 | 256 | 169 | 1181 | 105 | 233 | 343 | 124 | 728 | 337 | 65 | 57 | 46 | 60 | 103 |
| Total Debt (INR Cr) | 2822 | 3014 | 3229 | 2388 | 1854 | 2506 | 2163 | 2333 | 2464 | 1903 | 1599 | 1708 | 1600 | 1354 | 672 | 1249 |
Key Financial Ratios
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit As % Of Revenues | 8.1% | 3.3% | 3.3% | 8.0% | 8.6% | 6.6% | 7.4% | 10.6% | 12.2% | 6.8% | 6.6% | 4.8% | 5.9% | 4.7% | 4.6% | 2.8% |
| Profit As % Of Assets | 10.3% | 4.2% | 3.8% | 7.9% | 9.6% | 8.3% | 9.3% | 13.3% | 25.5% | 11.8% | 12.7% | 10.4% | 13.1% | 11.8% | 12.4% | 6.1% |
| Profit As % Of Networth | 12.5% | 5.2% | 4.8% | 9.5% | 11.7% | 10.4% | 11.6% | 17.2% | 34.7% | 20.0% | 22.1% | 20.3% | 27.0% | 21.2% | 18.5% | 12.8% |
| Interest Cost to EBITDA % | 8.5% | 13.6% | 12.8% | 9.6% | 12.6% | 11.8% | 11.3% | 9.7% | 8.1% | 11.9% | 11.0% | 12.5% | 12.1% | 7.6% | 10.1% | 16.3% |
| Debt to Equity Ratio | 0.17 | 0.20 | 0.23 | 0.18 | 0.15 | 0.23 | 0.22 | 0.27 | 0.34 | 0.42 | 0.44 | 0.60 | 0.70 | 0.80 | 0.50 | 1.12 |
| RONW | 13.3% | 5.4% | 4.0% | 10.0% | 12.3% | 11.0% | 12.3% | 18.7% | 28.4% | 22.2% | 24.8% | 22.5% | 17.5% | 23.5% | 20.3% | 13.7% |
| ROCE | 16.5% | 7.8% | 6.0% | 13.0% | 12.2% | 15.0% | 16.4% | 22.6% | 30.6% | 22.6% | 24.0% | 19.5% | 14.8% | 23.7% | 21.2% | 13.2% |