MRF Limited
MRF Limited, together with its subsidiaries, engages in the manufacture and sale of rubber products in India and internationally. The company provides tires for passenger cars, two wheelers, fighter aircraft, farm, trucks, OTR, SCV, LCV, pick up, three wheeler, MCV, ICV, and tubes and valves products; rubber products, such as tubes, flaps, and tread rubber products; and manufactures specialty coa… Read more
MRF Limited (MRF) - Net Assets
Latest net assets as of September 2025: ₹194.41 Billion INR
Based on the latest financial reports, MRF Limited (MRF) has net assets worth ₹194.41 Billion INR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹303.20 Billion) and total liabilities (₹108.79 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₹194.41 Billion |
| % of Total Assets | 64.12% |
| Annual Growth Rate | 16.69% |
| 5-Year Change | 37.83% |
| 10-Year Change | 155.92% |
| Growth Volatility | 12.5 |
MRF Limited - Net Assets Trend (2004–2025)
This chart illustrates how MRF Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for MRF Limited (2004–2025)
The table below shows the annual net assets of MRF Limited from 2004 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ₹184.89 Billion | +10.69% |
| 2024-03-31 | ₹167.03 Billion | +13.57% |
| 2023-03-31 | ₹147.08 Billion | +4.82% |
| 2022-03-31 | ₹140.32 Billion | +4.61% |
| 2021-03-31 | ₹134.14 Billion | +9.82% |
| 2020-03-31 | ₹122.15 Billion | +12.71% |
| 2019-03-31 | ₹108.37 Billion | +11.29% |
| 2018-03-31 | ₹97.38 Billion | +12.70% |
| 2017-03-31 | ₹86.41 Billion | +19.61% |
| 2016-03-31 | ₹72.24 Billion | +59.14% |
| 2014-03-31 | ₹45.40 Billion | +24.19% |
| 2013-03-31 | ₹36.56 Billion | +27.76% |
| 2012-03-31 | ₹28.61 Billion | +24.71% |
| 2011-03-31 | ₹22.94 Billion | +35.87% |
| 2010-03-31 | ₹16.89 Billion | +24.54% |
| 2009-03-31 | ₹13.56 Billion | +21.37% |
| 2008-03-31 | ₹11.17 Billion | +13.57% |
| 2007-03-31 | ₹9.84 Billion | +19.32% |
| 2006-03-31 | ₹8.24 Billion | +9.23% |
| 2005-03-31 | ₹7.55 Billion | +4.32% |
| 2004-03-31 | ₹7.23 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to MRF Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 96567.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₹185.70 Billion | 100.44% |
| Common Stock | ₹42.40 Million | 0.02% |
| Other Comprehensive Income | ₹184.84 Billion | 99.98% |
| Total Equity | ₹184.88 Billion | 100.00% |
MRF Limited Competitors by Market Cap
The table below lists competitors of MRF Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zhongfu Shenying Carbon Fiber Co. Ltd. A
SHG:688295
|
$3.76 Billion |
|
Shanghai RAAS Blood Products Co Ltd Class A
SHE:002252
|
$3.76 Billion |
|
0IHQ
LSE:0IHQ
|
$3.77 Billion |
|
Guangzhou Haige Communications Group Incorporated Co
SHE:002465
|
$3.77 Billion |
|
Lynas Rare Earths Ltd
PINK:LYSCF
|
$3.76 Billion |
|
Omv Petrom S.A
RO:SNP
|
$3.76 Billion |
|
National Health Investors Inc
NYSE:NHI
|
$3.76 Billion |
|
Sydbank A/S
CO:SYDB
|
$3.76 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in MRF Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 167,029,900,000 to 184,884,600,000, a change of 17,854,700,000 (10.7%).
- Net income of 18,692,800,000 contributed positively to equity growth.
- Dividend payments of 848,200,000 reduced retained earnings.
- Other comprehensive income increased equity by 185,797,400,000.
- Other factors decreased equity by 185,787,300,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₹18.69 Billion | +10.11% |
| Dividends Paid | ₹848.20 Million | -0.46% |
| Other Comprehensive Income | ₹185.80 Billion | +100.49% |
| Other Changes | ₹-185.79 Billion | -100.49% |
| Total Change | ₹- | 10.69% |
Book Value vs Market Value Analysis
This analysis compares MRF Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.05x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 77.82x to 3.05x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-03-31 | ₹1705.75 | ₹132750.00 | x |
| 2005-03-31 | ₹1779.24 | ₹132750.00 | x |
| 2006-03-31 | ₹1943.51 | ₹132750.00 | x |
| 2007-03-31 | ₹2319.04 | ₹132750.00 | x |
| 2008-03-31 | ₹2633.72 | ₹132750.00 | x |
| 2009-03-31 | ₹3196.54 | ₹132750.00 | x |
| 2010-03-31 | ₹3981.07 | ₹132750.00 | x |
| 2011-03-31 | ₹5409.25 | ₹132750.00 | x |
| 2012-03-31 | ₹6746.01 | ₹132750.00 | x |
| 2013-03-31 | ₹8619.29 | ₹132750.00 | x |
| 2014-03-31 | ₹10703.96 | ₹132750.00 | x |
| 2016-03-31 | ₹17034.52 | ₹132750.00 | x |
| 2017-03-31 | ₹20374.35 | ₹132750.00 | x |
| 2018-03-31 | ₹22962.01 | ₹132750.00 | x |
| 2019-03-31 | ₹25553.76 | ₹132750.00 | x |
| 2020-03-31 | ₹28800.51 | ₹132750.00 | x |
| 2021-03-31 | ₹31628.55 | ₹132750.00 | x |
| 2022-03-31 | ₹33085.95 | ₹132750.00 | x |
| 2023-03-31 | ₹34679.70 | ₹132750.00 | x |
| 2024-03-31 | ₹39384.56 | ₹132750.00 | x |
| 2025-03-31 | ₹43594.58 | ₹132750.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently MRF Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.11%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.64%
- • Asset Turnover: 0.95x
- • Equity Multiplier: 1.60x
- Recent ROE (10.11%) is below the historical average (14.62%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 3.98% | 1.14% | 1.50x | 2.33x | ₹-435.41 Million |
| 2005 | 5.90% | 1.50% | 1.58x | 2.49x | ₹-309.10 Million |
| 2006 | 5.20% | 1.15% | 1.79x | 2.52x | ₹-395.37 Million |
| 2007 | 17.32% | 3.86% | 1.75x | 2.57x | ₹720.26 Million |
| 2008 | 12.61% | 2.79% | 1.50x | 3.02x | ₹291.50 Million |
| 2009 | 18.50% | 4.42% | 2.05x | 2.04x | ₹1.15 Billion |
| 2010 | 21.17% | 4.79% | 1.86x | 2.38x | ₹1.89 Billion |
| 2011 | 26.97% | 6.35% | 1.54x | 2.76x | ₹3.89 Billion |
| 2012 | 20.25% | 4.83% | 1.66x | 2.53x | ₹2.93 Billion |
| 2013 | 22.12% | 6.60% | 1.48x | 2.26x | ₹4.43 Billion |
| 2014 | 36.85% | 12.44% | 1.37x | 2.17x | ₹12.19 Billion |
| 2016 | 23.16% | 12.44% | 1.01x | 1.84x | ₹9.51 Billion |
| 2017 | 17.20% | 11.08% | 0.89x | 1.75x | ₹6.22 Billion |
| 2018 | 11.62% | 7.55% | 0.91x | 1.69x | ₹1.58 Billion |
| 2019 | 10.43% | 7.00% | 0.88x | 1.70x | ₹468.65 Million |
| 2020 | 11.65% | 8.74% | 0.84x | 1.59x | ₹2.01 Billion |
| 2021 | 9.52% | 7.89% | 0.72x | 1.68x | ₹-643.07 Million |
| 2022 | 4.77% | 3.46% | 0.84x | 1.64x | ₹-7.34 Billion |
| 2023 | 5.23% | 3.34% | 0.94x | 1.66x | ₹-7.02 Billion |
| 2024 | 12.46% | 8.27% | 0.94x | 1.61x | ₹4.11 Billion |
| 2025 | 10.11% | 6.64% | 0.95x | 1.60x | ₹204.34 Million |
Industry Comparison
This section compares MRF Limited's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $13,046,583,226
- Average return on equity (ROE) among peers: 17.06%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| MRF Limited (MRF) | ₹194.41 Billion | 3.98% | 0.56x | $3.76 Billion |
| Apollo Tyres Limited (APOLLOTYRE) | $34.01 Billion | 18.01% | 1.52x | $1.47 Billion |
| Asahi India Glass Limited (ASAHIINDIA) | $26.42 Billion | 14.05% | 1.57x | $816.27 Million |
| Automotive Stampings and Assemblies Limited (ASAL) | $562.65 Million | 17.77% | 2.25x | $18.73 Million |
| ASK AUTOMOTIVE LIMITED (ASKAUTOLTD) | $10.43 Billion | 23.74% | 0.84x | $221.89 Million |
| Automotive Axles Limited (AUTOAXLES) | $3.02 Billion | 6.60% | 0.72x | $86.08 Million |
| Autoline Industries Limited (AUTOIND) | $1.39 Billion | 7.99% | 2.15x | $11.92 Million |
| Balkrishna Industries Limited (BALKRISIND) | $8.61 Billion | 22.59% | 1.53x | $1.99 Billion |
| Banco Products (I) Limited (BANCOINDIA) | $1.36 Billion | 31.89% | 0.52x | $286.08 Million |
| BELRISE INDUSTRIES LTD (BELRISE) | $20.45 Billion | 15.34% | 1.78x | $541.77 Million |
| Bharat Forge Limited (BHARATFORG) | $24.21 Billion | 12.59% | 2.14x | $5.17 Billion |