Neutral MRF; target of Rs 86,575: Motilal Oswal

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Motilal Oswal's research report on MRF

MRF’s 2QFY23 performance was adversely impacted due to RM cost pressures despite good beat on revenues. The industry is taking gradual price increases to dilute the impact of severe cost inflation. While we reduce our FY23E EPS by 19% to account for high RM costs, we maintain our FY24E EPS. We reiterate our Neutral rating with a TP of INR86,575 (~20x Dec-24 EPS).

Outlook

Current valuations at 63.6x/25.7x FY23E/FY24E EPS, respectively, fairly capture the changing competitive dynamics for MRF. We reiterate our Neutral rating, valuing it at 20x Dec’24E EPS (v/s 21.4x for 10-year average P/E) to arrive at our TP of INR86,575.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

MRF - 08-11-2022 - moti