MRF Limited (MRF) - Net Assets

Latest as of September 2025: Rs194.41 Billion INR ≈ $2.10 Billion USD

Based on the latest financial reports, MRF Limited (MRF) has net assets worth Rs194.41 Billion INR (≈ $2.10 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs303.20 Billion ≈ $3.28 Billion USD) and total liabilities (Rs108.79 Billion ≈ $1.18 Billion USD). 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. Check MRF Limited asset resilience ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric Value
Current Net Assets Rs194.41 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. Also explore MRF current and non-current assets for the complete picture of this company's asset base.

Annual Net Assets for MRF Limited (2004–2025)

The table below shows the annual net assets of MRF Limited from 2004 to 2025. For live valuation and market cap data, see MRF stock market capitalisation.

Year Net Assets Change
2025-03-31 Rs184.89 Billion
≈ $2.00 Billion		 +10.69%
2024-03-31 Rs167.03 Billion
≈ $1.81 Billion		 +13.57%
2023-03-31 Rs147.08 Billion
≈ $1.59 Billion		 +4.82%
2022-03-31 Rs140.32 Billion
≈ $1.52 Billion		 +4.61%
2021-03-31 Rs134.14 Billion
≈ $1.45 Billion		 +9.82%
2020-03-31 Rs122.15 Billion
≈ $1.32 Billion		 +12.71%
2019-03-31 Rs108.37 Billion
≈ $1.17 Billion		 +11.29%
2018-03-31 Rs97.38 Billion
≈ $1.05 Billion		 +12.70%
2017-03-31 Rs86.41 Billion
≈ $934.48 Million		 +19.61%
2016-03-31 Rs72.24 Billion
≈ $781.30 Million		 +59.14%
2014-03-31 Rs45.40 Billion
≈ $490.95 Million		 +24.19%
2013-03-31 Rs36.56 Billion
≈ $395.33 Million		 +27.76%
2012-03-31 Rs28.61 Billion
≈ $309.42 Million		 +24.71%
2011-03-31 Rs22.94 Billion
≈ $248.11 Million		 +35.87%
2010-03-31 Rs16.89 Billion
≈ $182.60 Million		 +24.54%
2009-03-31 Rs13.56 Billion
≈ $146.62 Million		 +21.37%
2008-03-31 Rs11.17 Billion
≈ $120.80 Million		 +13.57%
2007-03-31 Rs9.84 Billion
≈ $106.37 Million		 +19.32%
2006-03-31 Rs8.24 Billion
≈ $89.15 Million		 +9.23%
2005-03-31 Rs7.55 Billion
≈ $81.61 Million		 +4.32%
2004-03-31 Rs7.23 Billion
≈ $78.23 Million		 --

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 Rs185.70 Billion 100.44%
Common Stock Rs42.40 Million 0.02%
Other Comprehensive Income Rs184.84 Billion 99.98%
Total Equity Rs184.88 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
Matador Resources Company
NYSE:MTDR
 $5.95 Billion
Trina Solar Co Ltd
SHG:688599
 $5.95 Billion
SIAM CEMENT UNSP.ADS/1
F:TCM
 $5.95 Billion
Chongyi Zhangyuan Tungsten Co Ltd
SHE:002378
 $5.95 Billion
FirstService Corp
TO:FSV
 $5.95 Billion
TMBThanachart Bank Public Company Limited
F:NVPJ
 $5.95 Billion
YTL Corporation Bhd
KLSE:4677
 $5.95 Billion
COM.INTL BANK ADR/1 O.N.
F:CIN0
 $5.94 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 Rs18.69 Billion +10.11%
Dividends Paid Rs848.20 Million -0.46%
Other Comprehensive Income Rs185.80 Billion +100.49%
Other Changes Rs-185.79 Billion -100.49%
Total Change Rs- 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: 2.98x
  • The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
  • The price-to-book ratio has decreased from 76.04x to 2.98x 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 Rs1705.75 Rs129710.00 x
2005-03-31 Rs1779.24 Rs129710.00 x
2006-03-31 Rs1943.51 Rs129710.00 x
2007-03-31 Rs2319.04 Rs129710.00 x
2008-03-31 Rs2633.72 Rs129710.00 x
2009-03-31 Rs3196.54 Rs129710.00 x
2010-03-31 Rs3981.07 Rs129710.00 x
2011-03-31 Rs5409.25 Rs129710.00 x
2012-03-31 Rs6746.01 Rs129710.00 x
2013-03-31 Rs8619.29 Rs129710.00 x
2014-03-31 Rs10703.96 Rs129710.00 x
2016-03-31 Rs17034.52 Rs129710.00 x
2017-03-31 Rs20374.35 Rs129710.00 x
2018-03-31 Rs22962.01 Rs129710.00 x
2019-03-31 Rs25553.76 Rs129710.00 x
2020-03-31 Rs28800.51 Rs129710.00 x
2021-03-31 Rs31628.55 Rs129710.00 x
2022-03-31 Rs33085.95 Rs129710.00 x
2023-03-31 Rs34679.70 Rs129710.00 x
2024-03-31 Rs39384.56 Rs129710.00 x
2025-03-31 Rs43594.58 Rs129710.00 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 Rs-435.41 Million
2005 5.90% 1.50% 1.58x 2.49x Rs-309.10 Million
2006 5.20% 1.15% 1.79x 2.52x Rs-395.37 Million
2007 17.32% 3.86% 1.75x 2.57x Rs720.26 Million
2008 12.61% 2.79% 1.50x 3.02x Rs291.50 Million
2009 18.50% 4.42% 2.05x 2.04x Rs1.15 Billion
2010 21.17% 4.79% 1.86x 2.38x Rs1.89 Billion
2011 26.97% 6.35% 1.54x 2.76x Rs3.89 Billion
2012 20.25% 4.83% 1.66x 2.53x Rs2.93 Billion
2013 22.12% 6.60% 1.48x 2.26x Rs4.43 Billion
2014 36.85% 12.44% 1.37x 2.17x Rs12.19 Billion
2016 23.16% 12.44% 1.01x 1.84x Rs9.51 Billion
2017 17.20% 11.08% 0.89x 1.75x Rs6.22 Billion
2018 11.62% 7.55% 0.91x 1.69x Rs1.58 Billion
2019 10.43% 7.00% 0.88x 1.70x Rs468.65 Million
2020 11.65% 8.74% 0.84x 1.59x Rs2.01 Billion
2021 9.52% 7.89% 0.72x 1.68x Rs-643.07 Million
2022 4.77% 3.46% 0.84x 1.64x Rs-7.34 Billion
2023 5.23% 3.34% 0.94x 1.66x Rs-7.02 Billion
2024 12.46% 8.27% 0.94x 1.61x Rs4.11 Billion
2025 10.11% 6.64% 0.95x 1.60x Rs204.34 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: $20,558,196,000
  • Average return on equity (ROE) among peers: 17.78%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
MRF Limited (MRF) Rs194.41 Billion 3.98% 0.56x $5.95 Billion
Asahi India Glass Limited (ASAHIINDIA) $12.88 Billion 11.93% 2.00x $2.31 Billion
ASK AUTOMOTIVE LIMITED (ASKAUTOLTD) $10.43 Billion 23.74% 0.84x $937.98 Million
Balkrishna Industries Limited (BALKRISIND) $50.08 Billion 19.16% 0.36x $4.52 Billion
Banco Products (I) Limited (BANCOINDIA) $9.82 Billion 15.53% 0.56x $956.83 Million
Bharat Gears Limited (BHARATGEAR) $393.44 Million 22.33% 3.35x $17.81 Million
Bosch Limited (BOSCHLTD) $47.28 Billion 23.74% 0.51x $11.48 Billion
CEAT Limited (CEATLTD) $5.13 Billion 28.95% 2.06x $1.50 Billion
CIE Automotive India Limited (CIEINDIA) $49.08 Billion 2.17% 0.94x $1.94 Billion
Craftsman Automation Limited (CRAFTSMAN) $17.52 Billion 17.38% 1.69x $1.98 Billion
Divgi Torqtransfer Systems Limited (DIVGIITTS) $2.96 Billion 12.86% 0.23x $238.35 Million

About MRF Limited

NSE:MRF India Auto Parts
Market Cap
$5.95 Billion
Rs550.12 Billion INR
Market Cap Rank
#3199 Global
#144 in India
Share Price
Rs129710.00
Change (1 day)
-0.55%
52-Week Range
Rs124975.00 - Rs162295.00
All Time High
Rs162295.00
Categories
Companies in India Auto Parts
About

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