MRF Experiences Revision in Stock Evaluation Amid Flat Q2 FY24-25 Performance

In a recent update, MRF, a leading name in the Tyres & Allied industry, has experienced a notable adjustment in its evaluation by MarketsMOJO. This revision comes on the heels of the company's financial performance for the second quarter of FY24-25, which has shown signs of stagnation. The reported profit before tax (PBT) was Rs 517.97 crore, marking a decline of 15.0%, while the profit after tax (PAT) fell to Rs 470.70 crore, down by 8.8%.
The stock has entered a bearish range, shifting from a previously mildly bearish trend earlier in January, and has recorded a loss of 2.51% in this timeframe. Technical indicators, including MACD and Bollinger Bands, point towards a continued bearish outlook for MRF.

Over the past year, MRF has underperformed relative to the broader market, with negative returns of 8.81%, contrasting sharply with the BSE 500 index, which has seen a gain of 13.89%. Despite these challenges, MRF maintains a commendable low debt-to-equity ratio of 0.02 times and has demonstrated robust long-term growth, with net sales increasing at an annual rate of 9.73%. With a market capitalization of Rs 51,332 crore, MRF remains the second-largest player in its sector.

In light of these developments, MRF has also been added to MarketsMOJO's list, reflecting ongoing interest and scrutiny from investors and analysts alike.