MRF Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings

Investors weighing an MRF target price for 2027 should start with where the stock sits today. At Rs 1,22,090.00 on 9 October 2026, it is 25.4% below its 52-week high of Rs 1,63,600.00 and 0.1% above its 52-week low of Rs 1,22,000.00. That range spans 34% from low to high, so the entry point matters as much as the MRF price forecast itself.

This article builds the MRF share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario shows its assumptions, so you can see exactly how the Rs 1,32,151 base case and the Rs 1,60,416 bull case were reached, along with a downside risk level of Rs 97,942.

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MRF Stock Analysis: Company Overview and Key Stats

MRF (NSE: MRF) has a market capitalisation of Rs 51,916 crore. In FY26 it reported revenue of Rs 31,654 crore and net profit of Rs 2,426 crore. The table collects the figures the MRF share price target is built on.

Metric	Value
Company	MRF
NSE Ticker	MRF
CMP (9 October 2026)	Rs 1,22,090.00
52-Week High	Rs 1,63,600.00
52-Week Low	Rs 1,22,000.00
Market Cap	Rs 51,916 crore
PE Ratio (TTM)	21.47
Industry PE	19.15
Price to Book	2.48
Return on Equity	11.57%
Debt to Equity	0.15
EPS (TTM)	Rs 5,700.92
Dividend Yield	0.19%
12-Month Base Target	Rs 1,32,151
Bull Case	Rs 1,60,416
Downside Risk Level (not a target)	Rs 97,942

Why Is MRF Share Price Target Set at Rs 1,32,151 for 2027?

The base-case MRF stock target of Rs 1,32,151 applies a PE multiple of 21.47 to a forward EPS estimate of Rs 6,155.16. That EPS assumes 8.0% yearly growth, the pace from FY24 to FY26, and puts the target 8.2% above the current price. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the MRF Target Price: Five Years of Results

MRF grew revenue from Rs 19,634 crore in FY22 to Rs 31,654 crore in FY26, a compound annual growth rate of 12.7%. Net profit grew faster, from Rs 669.24 crore to Rs 2,426 crore (38.0% a year), which shows margin gains did part of the work and not just higher sales.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	19,633.71	669.24	1577.97	150.00
FY23	23,261.17	768.94	1813.04	175.00
FY24	25,486.05	2,081.23	4907.24	200.00
FY25	28,569.65	1,873.29	4416.94	235.00
FY26	31,653.64	2,426.10	5720.39	235.00

FY26 revenue growth was 10.8%, close to the four-year average of 12.7%, and net profit moved up 29.5%. EPS rose from Rs 4,907.24 in FY24 to Rs 5,720.39 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

MRF converted 7.7% of FY26 revenue into net profit, against 6.6% in FY25, within a five-year range of 3.3% to 8.2%. EBITDA margin was 16.9% in FY26 versus 15.7% in FY25.

In the June 2026 quarter, revenue was Rs 8,611 crore, up 10.3% from the same quarter a year earlier, while net profit of Rs 495.35 crore was down 1.3%. EBITDA came in at Rs 1,186 crore, down 1.1% year on year. The next quarterly result is the first test of whether the earnings assumption holds.

Balance Sheet and Cash Flow

Debt to equity stands at 0.15, and shareholders' equity grew from Rs 14,032 crore in FY22 to Rs 20,975 crore in FY26. Operating cash flow in FY26 was Rs 4,590 crore against capital expenditure of Rs 1,434 crore, leaving free cash flow of Rs 3,156 crore, or 6.1% of the current market capitalisation. In FY25 free cash flow was Rs 555.31 crore.

Valuation Check for the MRF Stock Target: PE, Price to Book and ROE

At a PE of 21.47 against an industry PE of 19.15, MRF trades at a premium to its industry. Price to book is 2.48 on a book value of Rs 49,454.97 per share, and return on equity is 11.57%. A PE of 21.47 equals an earnings yield of 4.7%, and the FY26 dividend of Rs 235.00 per share gives a yield of 0.19%.

Shareholding Pattern and Institutional Holding

Promoters held 27.77% of MRF in June 2026, and promoter holding has stayed near 27.77% since June 2025. Foreign institutional investors (FII) held 17.42% and domestic institutions (DII) held 12.10%, which puts total institutional holding at 29.52%. FII holding fell from 18.67% in June 2025 to 17.42% in June 2026. Public shareholders own the remaining 42.71%. A meaningful institutional holding adds a layer of research coverage and trading depth.

MRF Share Price Targets for the Short Term and 12 Months

Short Term MRF Stock Target Levels: Technical Setup

At Rs 1,22,090.00 on 9 October 2026, MRF trades below its 50-day simple moving average of Rs 1,29,276.70 and below its 200-day exponential moving average of Rs 1,32,992.71. The 14-day RSI reads 31.5, which is neutral territory, and the MACD line sits above its signal line. The nearest resistance level is Rs 1,29,276.70 (50-day simple moving average) and the nearest support is Rs 1,22,000.00 (52-week low). A sustained move above Rs 1,29,276.70 would improve the short-term setup, while a close below Rs 1,22,000.00 would shift attention to the next support.

12 Month MRF Target Price for 2027

The 12-month target for MRF is Rs 1,32,151: forward EPS of Rs 6,155.16 at a PE of 21.47. That is 8.2% above Rs 1,22,090.00. It would still leave the stock 19.2% below its 52-week high of Rs 1,63,600.00.

How EPS Growth and PE Multiple Change the MRF Target Price

EPS Growth	PE 17.18	PE 21.47	PE 24.69
0.0% (EPS Rs 5,700.92)	Rs 97,942	Rs 1,22,399	Rs 1,40,756
8.0% (EPS Rs 6,155.16)	Rs 1,05,746	Rs 1,32,151	Rs 1,51,971
14.0% (EPS Rs 6,497.21)	Rs 1,11,622	Rs 1,39,495	Rs 1,60,416

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the MRF price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for MRF Stock Target in 2027

Bull Case Rs 1,60,416

The bull case MRF price target needs EPS growth of 14.0%, which lifts forward EPS to Rs 6,497.21, and a PE multiple that rises 15% to 24.69. That gives Rs 1,60,416, 31.4% above the current price and below the 52-week high of Rs 1,63,600.00.

Downside Risk Level Rs 97,942

The downside risk level is not a target. It assumes EPS stays flat at Rs 5,700.92 and the PE falls 20% to 17.18. That gives Rs 97,942, 19.8% below the current price and below the 52-week low of Rs 1,22,000.00.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	14.0%	24.69	Rs 1,60,416	+31.4%
Base Case	8.0%	21.47	Rs 1,32,151	+8.2%
Downside Risk	0.0%	17.18	Rs 97,942	-19.8%

Key Risks to the MRF Target Price for 2027

Growth Slowdown Risk for the MRF Price Target

Revenue in the June 2026 quarter was up 10.3% year on year, and FY26 revenue growth was 10.8%. If growth slows from here, the EPS estimate behind the MRF stock target will need revising.

Liquidity and Size Risk

MRF has a market capitalisation of Rs 51,916 crore. Institutional holding is 29.52%, and promoters hold 27.77%. A company of this size trades with deep liquidity, so entry and exit are rarely a problem, and the larger risk is paying too much for slow earnings growth.

Valuation and Margin Risk

Net margin was 7.7% in FY26, so a small slip in costs moves profit noticeably. At a PE of 21.47 versus an industry PE of 19.15, a de-rating toward the downside-risk PE of 17.18 would cut the price even if earnings hold.

Market and Technical Risk

The stock trades 25.4% below its 52-week high, with an RSI of 31.5 and a MACD reading above its signal line. Broader market weakness can override company fundamentals in the short term.

How to Invest in MRF

Start with the live price and volume. Any MRF share price target is only as current as the data behind it, and the data here is as of 9 October 2026, so refresh the Rs 1,22,090.00 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check MRF's PE, ROE, debt and shareholding in one place.

Check MRF fundamentals on the Univest Screener

Then compare the three MRF target price scenarios with your own view. If you expect EPS growth below 8.0%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track MRF live price and get daily stock recommendations.

Conclusion

The MRF share price target for 2027 is Rs 1,32,151 in the base case, with Rs 1,60,416 as the bull case. The support for that view is arithmetic you can check: EPS grew 8.0% a year over FY24 to FY26, and the stock trades at a PE of 21.47. The risks are equally concrete, including a stock that sits 25.4% below its 52-week high and a downside scenario that cuts the price 20% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.

FAQs on MRF Share Price Target 2027

What is the MRF share price target for 2027?

Ans. The base-case MRF share price target for 2027 is Rs 1,32,151, with Rs 1,60,416 as the bull case. The downside risk level, which is not a target, is Rs 97,942. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.

What is the MRF share price today?

Ans. As of 9 October 2026, 3:30 PM IST, MRF trades at Rs 1,22,090.00, down 0.31% on the day. The 52-week range is Rs 1,22,000.00 to Rs 1,63,600.00.

Is MRF a buy or sell at the current price?

Ans. The data is mixed rather than one-sided: EPS has grown 8.0% a year over FY24 to FY26, but the stock is 25.4% below its 52-week high. Whether MRF fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.

What are the bull case target and downside risk level for MRF shares?

Ans. The bull case target is Rs 1,60,416, which assumes 14.0% EPS growth and a PE of 24.69. The downside risk level is Rs 97,942, which assumes flat EPS and a PE of 17.18. It marks a risk, not a target.

What are the main risks to the MRF price target?

Ans. The main risks are slower revenue growth, a small market capitalisation of Rs 51,916 crore, a PE de-rating and short-term weakness in the broader market. Each is covered in the risk section above.

What is the PE ratio of MRF and how does it compare with the industry?

Ans. The PE ratio of MRF is 21.47 against an industry PE of 19.15. Price to book is 2.48 and return on equity is 11.57%. The base case in the MRF price target holds this PE constant.

Who owns MRF, and what is the promoter holding?

Ans. Promoters held 27.77% of MRF in June 2026. FII held 17.42%, DII held 12.10% and the public held 42.71%.

What were MRF's latest quarterly results?

Ans. In the June 2026 quarter, MRF reported revenue of Rs 8,611 crore (up 10.3% year on year) and net profit of Rs 495.35 crore (down 1.3%).