MRF vs Apollo Tyres: Which Stock Should You Track

MRF vs Apollo Tyres is a comparison tyre sector investors look up when evaluating India's two leading tyre manufacturers. MRF (Madras Rubber Factory) is India's largest tyre company by revenue and is known for its premium brand positioning across passenger, truck and motorcycle segments, while Apollo Tyres is the second largest and has a significant European presence through its Apollo and Vredestein brand operations.

This MRF vs Apollo Tyres article covers reach and market position, key products, latest declared results and stock valuation. The MRF vs Apollo Tyres data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.

MRF vs Apollo Tyres: Reach and Market Position

On the MRF side of the MRF vs Apollo Tyres comparison, MRF distributes tyres across India through the largest dealer network in the Indian tyre industry, with manufacturing plants in Tamil Nadu, Goa, Uttarakhand, Andhra Pradesh and Kerala. Market capitalisation is Rs 56,727 Cr.

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On the Apollo Tyres side of the MRF vs Apollo Tyres comparison, Apollo Tyres distributes tyres in India through dealer and OEM channels, and in Europe through its Apollo and Vredestein brands after acquiring Reifenreifen 2009 and Cooper Tyres (European). Market capitalisation is Rs 27,681 Cr.

MRF vs Apollo Tyres: Key Products and Business Mix

In the MRF vs Apollo Tyres product comparison, MRF offers: MRF makes passenger car, truck, bus, motorcycle, OTR and aircraft tyres. Its strong brand commands premium pricing. P/E is 23.38x, ROE 11.57 percent, debt to equity 0.15.

For Apollo Tyres in this MRF vs Apollo Tyres breakdown: Apollo Tyres makes passenger, truck, OTR and two-wheeler tyres in India and the Vredestein brand in Europe. P/E is 20.17x, ROE 12.39 percent, debt to equity 0.22.

MRF vs Apollo Tyres: Latest Results

The MRF vs Apollo Tyres results for MRF: MRF has a market cap of Rs 56,727 Cr and P/E of 23.38x. ROE is 11.57 percent. EPS is Rs 5,720.39 (high because the stock's face value is Rs 10 and MRF famously has one of India's highest per-share prices). Dividend yield is 0.18 percent.

The MRF vs Apollo Tyres results for Apollo Tyres: Apollo Tyres has a market cap of Rs 27,681 Cr and P/E of 20.17x. ROE is 12.39 percent with a dividend yield of 1.38 percent. EPS is Rs 21.61.

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MRF vs Apollo Tyres: Stock and Valuation

The MRF vs Apollo Tyres stock comparison uses the latest available market data from Groww. Investors tracking MRF vs Apollo Tyres should verify current prices on NSE or BSE before trading.

MRF trades at a market cap of Rs 56,727 Cr and P/E of 23.38x, with ROE of 11.57 percent. Apollo Tyres trades at Rs 27,681 Cr market cap and P/E of 20.17x, cheaper than MRF, with a slightly higher ROE of 12.39 percent. Apollo also pays a higher dividend yield of 1.38 percent. Both companies face the same raw material cycle of rubber and crude-derived inputs.

MRF vs Apollo Tyres: Quick Comparison Table

The MRF vs Apollo Tyres comparison table below summarises the key metrics covered in this article side by side.

Parameter	MRF	Apollo Tyres
Sector	Tyre manufacturing	Tyre manufacturing: India and Europe
Market Cap	Rs 56,727 Cr	Rs 27,681 Cr
P/E Ratio	23.38x	20.17x
ROE	11.57%	12.39%
Debt to Equity	0.15	0.22
Dividend Yield	0.18%	1.38%
Key geography	India dominant	India plus Vredestein in Europe
Brand position	Premium across all tyre categories	Mid-premium India, Vredestein in Europe

Conclusion

The MRF vs Apollo Tyres comparison above covers the key data points on reach, products, results and valuation. MRF vs Apollo Tyres are India's top two tyre companies. Apollo Tyres is cheaper by P/E, has a slightly higher ROE and pays a higher dividend, while MRF commands a brand premium through its dominant position in the Indian tyre market. Investors should review rubber price trends and OEM tyre demand and consult a SEBI-registered advisor before investing.

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Frequently Asked Questions

What is the main difference between MRF and Apollo Tyres?

Ans. MRF is India's largest tyre company by revenue with a premium brand entirely focused on India. Apollo Tyres is India's second largest and has a significant European presence through its Vredestein brand.

Which stock trades at a lower P/E?

Ans. Apollo Tyres trades at 20.17x trailing earnings, lower than MRF at 23.38x.

Which stock pays a higher dividend?

Ans. Apollo Tyres pays a dividend yield of 1.38 percent, higher than MRF at 0.18 percent.

Why is MRF's per-share price so high?

Ans. MRF has never split its stock, making it one of India's highest per-share price stocks. However, this does not affect the company's fundamentals or market capitalisation.

Does Apollo Tyres operate outside India?

Ans. Yes. Apollo Tyres operates the Vredestein brand in Europe and has manufacturing plants in the Netherlands.

What risks apply to tyre companies?

Ans. Both companies face risk from natural rubber price volatility, crude oil derived raw material costs, OEM automotive production trends and competition from Chinese tyre imports.

Should I invest in MRF or Apollo Tyres?

Ans. Both have comparable fundamentals. Apollo is cheaper with a higher dividend, MRF commands a higher brand premium. Review rubber and auto industry trends and consult a SEBI-registered advisor before investing.