MRF (NSE:MRF) ROCE %: 17.71% (As of Mar. 2026)

What is MRF ROCE %?

MRF NSE:MRF -0.44% 94 ROCE % is 17.71% as of Mar. 2026. GuruFocus rates NSE:MRF with a GF Score™ of 94/100 and a GF Value™ of ₹158,905.75 (Modestly Undervalued). The stock has 1 warning sign investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. MRF's annualized ROCE % for the quarter that ended in Mar. 2026 was 17.71%.

MRF (NSE:MRF) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

MRF ROCE % Related Terms

MRF ROCE % Historical Data

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The historical data trend for MRF's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

MRF ROCE % Chart

MRF Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

ROCE %

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7.39

8.42

17.44

14.31

16.48

MRF Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROCE %	Get a 7-Day Free Trial															14.69	14.92	14.78	18.90	17.71

94GF Score

MRF Ltd NSE:MRF

ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.

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MRF ROCE % Calculation

MRF's annualized ROCE % for the fiscal year that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2026 )		(A: Mar. 2025 )		(A: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2026 )		(A: Mar. 2025 )		(A: Mar. 2026 )
	=	35883.4	/	( ( (295669.9 - 89595.7)	+	(319535.1 - 90062.7) )	/ 2 )
	=	35883.4	/	( (206074.2	+	229472.4)	/ 2 )
	=	35883.4	/	217773.3
	=	16.48 %

MRF's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	40642.4	/	( ( (0 - 0)	+	(319535.1 - 90062.7) )	/ 1 )
	=	40642.4	/	( ( 0	+	229472.4 )	/ 1 )
	=	40642.4	/	229472.4
	=	17.71 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 17.71% mean?

MRF (NSE:MRF) has a ROCE % of 17.71% as of Mar. 2026.

Is MRF's ROCE % too high?

MRF's current ROCE % is 17.71%. The Vehicles & Parts industry median ROCE % is 7.94. MRF's value of 17.71% is 123% above this industry median. Overall, MRF has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does MRF's ROCE % compare to ORLY and AZO?

MRF's ROCE % of 17.71% can be compared against companies in the Vehicles & Parts industry. The industry median ROCE % is 7.94. MRF's value of 17.71% is 123% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROCE % for a Vehicles & Parts company?

The median ROCE % among Vehicles & Parts companies is 7.94, based on 1,319 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MRF's current ROCE % of 17.71% is 123% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high ROCE % mean?

A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Vehicles & Parts industry, the median ROCE % is 7.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MRF's current ROCE % is 17.71%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is MRF stock overvalued right now?

Based on GuruFocus' analysis, MRF (NSE:MRF) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹158,905.75, compared to a current price of ₹129,550.00 — trading 18.5% below its estimated fair value. The current ROCE % is 17.71% and 123% above the Vehicles & Parts industry median of 7.94. MRF's overall GF Score™ is 94/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROCE % calculated?

ROCE % is calculated from a company's financial statements. For MRF (NSE:MRF), the current ROCE % is 17.71% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is MRF (NSE:MRF) Overvalued in 2026?

Based on GuruFocus' analysis, MRF stock appears to be undervalued. The current stock price of ₹129,550.00 is trading 18.5% below its estimated GF Value™ of ₹158,905.75. GuruFocus considers MRF to be Modestly Undervalued.

Key valuation signals for NSE:MRF:

ROCE %: 17.71%
GF Value™: ₹158,905.75 vs. price of ₹129,550.00 (18.5% below fair value)
GF Score™: 94/100 with 1 warning sign
Industry Position: 123% above the Vehicles & Parts median

No single metric tells the full story. See the NSE:MRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

MRF Business Description

Industry Consumer Cyclical Vehicles & Parts

Comparable Companies NSE:BALKRISIND BOM:532539 NSE:SCHAEFFLER NSE:ENDURANCE BOM:543300 BOM:500086 NSE:ZFCVINDIA BOM:520056 BOM:543498 BOM:500877 ORLY TSE:5802 AZO XKRX:012330 TSE:6902 TSE:5108 XPAR:ML SHSE:600660 XTER:KBX TSX:MG

Other Exchanges 500290:India

Address No. 114, Greams Road, Chennai, TN, IND, 600006

Website https://www.mrftyres.com

MRF Ltd makes and sells rubber products, including tires, tubes, tread rubber, conveyor belts, and building and floor coatings. The firm's tires are used for automobiles, commercial trucks, and farm equipment. The company sells tires under the MRF brand name. MRF also operates multiple retail stores that sell tires and offer services. Stores under the MRF TireRok brand offer wheel alignment and air conditioning repair. MRF Musclezone stores offer tire servicing for commercial vehicles. MRF Tyredom stores offer a wheel alignment and car washes. The majority of revenue comes from India.

94GF Score

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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹129,550.00

Price

₹158,905.75

GF Value

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