MRF Company Overview and Performance Metrics

MRF is a leading provider of recycling and waste management solutions.

The company was founded in 1994 by John Watt, a pioneer in the waste management industry.

MRF operates 45 recycling facilities across the United States, processing over 20 million tons of recyclables annually.

These facilities are equipped with state-of-the-art technology, including optical scanners and eddy current separators, to sort and process recyclables efficiently.

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MRF's financial performance has been steadily improving over the years. The company has seen a significant increase in its sales, with a peak of ₹7,676 crores in June 2025.

The company's expenses have also been on the rise, reaching ₹6,604 crores in September 2024. This has resulted in a slight decrease in the operating profit margin (OPM) from 19% in September 2023 to 14% in March 2025.

Here's a breakdown of the company's operating profit and OPM over the past few years:

The company's net profit has also seen a significant increase, reaching ₹512 crores in March 2025.

The shareholding pattern of MRF has been relatively stable over the years, with promoters holding a consistent 27% stake in the company.

As of December 2024, promoters held 27.80% of the company's shares, while foreign institutional investors (FIIs) held 18.20%. This represents a decrease in FII stake from 19.75% in March 2024.

The number of shareholders has fluctuated over the years, with a peak of 61,320 in September 2024. This is significantly higher than the 38,782 shareholders recorded in March 2017.

Here's a breakdown of the shareholding pattern as of December 2024:

The shareholding pattern of MRF has been influenced by changes in the classification of investors, particularly FIIs and DIIs, which were not available earlier.

MRF is a company that takes its financial reporting very seriously. The company's annual reports are available for various financial years, including 2025, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, and 2016.

These reports can be accessed from the Bombay Stock Exchange (BSE) website. For instance, the Financial Year 2025 report is available from the BSE.

You can find the annual reports for the years 2014, 2013, and 2012 on the BSE website as well. However, the report for Financial Year 2011 is available from both the BSE and the National Stock Exchange (NSE) websites, but only listed twice in the provided data.

Here's a list of the available annual reports with their corresponding sources:

MRF Ltd has publicly disclosed IT services contracts that can be leveraged for competitive bidding.

These contracts cover a range of services including IT outsourcing, business process outsourcing, systems integration, and consulting.

IT Client Prospector provides valuable insights into MRF Ltd's likely spend across technology areas.

By understanding MRF Ltd's digital strategy, you can make informed decisions about investments and partnerships.

Improving competitive bidding is crucial for businesses looking to work with MRF Ltd.

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MRF Racing has a long history of building high-performance cars, starting with its first Formula 3 car in 1997. They collaborated with Maruti to establish the Formula Maruti racing series, a single-seater open-wheel class motorsport event for cars made in India.

The MRF Challenge is a Formula 2000 open-wheel motorsport series organized by the Madras Motor Sports Club in association with MRF. It features races at various international circuits, including the Madras Motor Racing Track, Bahrain International Circuit, and Buddh International Circuit.

Freddie Hunt, son of 1976 Formula One champion James Hunt, and Mathias Lauda, son of 1975, 1977, and 1984 Formula One champion Niki Lauda, have both competed in the MRF Challenge series. MRF has also sponsored Indian racing drivers like Narain Karthikeyan, Karun Chandok, and Ashwin Sundar.

MRF has a strong presence in rally racing, winning the Team Championship at the FIA European Rally Championship twice in 2022 and 2023. They have also been a long-running sponsor of the MRF rally team in the Asia-Pacific Rally Championship and Indian National Rally Championship.

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The MRF rally team has partnered with Czech car manufacturer Škoda, with whom they have won three Asia-Pacific Rally Championship titles. Chris Atkinson won in 2012, Gaurav Gill in 2013 and 2016, and Jan Kopecký in 2014.

MRF has also participated in the European Rally Championship, entering the competition in 2020 with WRC Hyundai driver Craig Breen and Emil Lindholm. They remained in ERC for 2021 and joined several other rally championships, with drivers like Simone Campedelli and Nil Solans competing in the series.

In 2023, Team MRF Tyres successfully defended their FIA European Rally Championship (ERC) Teams’ title with a dominant performance. They clinched the championship with two rounds to spare, finishing 54 points ahead of their nearest rivals, BRC Racing Team.

MRF Karting is another area where the company has made a significant impact, sponsoring major karting championships in India and developing FIA-approved karting tyres.

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MRF has a strong presence in sports marketing and sponsorship. They have sponsored moored balloons with high-definition cameras at IPL 2010, allowing fans to see live cricket action from above.

Their partnership with the International Cricket Council for the 2015 Cricket World Cup was a significant move. MRF also became the sleeve sponsor for Premier League clubs Newcastle United and West Ham United F.C.

MRF is a well-known bat sponsor, having partnered with legendary cricketers like Sachin Tendulkar and Brian Lara. They currently endorse Virat Kohli and other prominent players.

MRF's sponsorship of Indian batsmen like Rohit Sharma and Shikhar Dhawan is a testament to their commitment to the sport. They have also sponsored international players like Mignon du Preez.

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MRF has won the JD Power Award for the record 11th time in 2014, a testament to their commitment to excellence.

The company has also received several other awards and accolades, including the AIRIA award for 'Highest Export Awards (Auto Tyre Sector)'.

MRF was recognized as a top exporter by the Chemicals & Allied Products Export Promotion Council (CAPEXIL) for the year 2009-10, a notable achievement in their industry.

In 2014, MRF was ranked 48th among India's most trusted brands according to the Brand Trust Report, a study conducted by Trust Research Advisory.

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MRF has had its share of regulatory issues. In April 2022, the Competition Commission of India raided the company's headquarters along with other tyre companies.

This was in response to a complaint filed by the All India Tyre Dealers Federation, which alleged that these companies were cartelizing to increase tyre prices. The Ministry of Corporate Affairs had referred the case to the CCI.

The CCI found MRF and other companies guilty of sharing price-sensitive information, resulting in a fine of Rs 622.09 crores.

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MRF has issued debentures with a face value of Rs150 Crore, maturing on 24-Feb-2026, and carrying a coupon rate of 6.38%.

The company has also announced plans to acquire up to 26% stake in Serentica Renewables for Rs.99 Crore, which will enable MRF to source captive solar and wind power.

MRF has submitted a compliance certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018, detailing the dematerialization of securities between 01.07.2025 and 30.09.2025.

There were no physical share transfer re-lodgement requests received or processed for the month ended 30 September 2025.

MRF's trading window was closed from 1 October 2025 until 48 hours after the unaudited results for the quarter/half year ending 30 September 2025 were announced.

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In April 2022, the Competition Commission of India raided the headquarters of MRF, along with other tyre companies, at multiple locations.

The Competition Commission of India fined these tyre companies a total of Rs 1788 crores for sharing price-sensitive information among themselves.

Earlier, the All India Tyre Dealers Federation had complained to the Ministry of Corporate Affairs about the cartelization of these companies to increase tyre prices.

The Ministry of Corporate Affairs referred the case to the CCI after receiving the complaint.

For your interest: Ministry of Corporate Affairs Forms