Buy MRF, target Rs 60,000: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on MRF Ltd. with a target price of Rs 60,000. The current market price of MRF Ltd. is Rs 58,056.3. Time period given by analyst is Intra Day when MRF Ltd. price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 57,000. MRF Ltd., incorporated in 1960, is a largecap company with a market cap of Rs 24,622.51 crore.


MRF Ltd. key Products/Revenue Segments include Automobile Tyres which contributed Rs 13484.72 Crore to Sales Value (88.55 % of Total Sales), Automobile Tubes which contributed Rs 1153.71 Crore to Sales Value (7.57 % of Total Sales), Others which contributed Rs 464.88 Crore to Sales Value (3.05 % of Total Sales), Scrap which contributed Rs 45.11 Crore to Sales Value (0.29 % of Total Sales), Sale of services which contributed Rs 30.91 Crore to Sales Value (0.20 % of Total Sales), Export Incentives which contributed Rs 28.08 Crore to Sales Value (0.18 % of Total Sales), Other Operating Revenue which contributed Rs 19.66 Crore to Sales Value (0.12 % of Total Sales)for the year ending 31-Mar-2018.


For the quarter ended 31-12-2018, the company has reported a Standalone sales of Rs 4033.76 Crore, up 2.69 % from last quarter Sales of Rs 3928.16 Crore and up 6.18 % from last year same quarter Sales of Rs 3798.82 Crore Company has reported net profit after tax of Rs 279.26 Crore in latest quarter. The company’s top management includes Dr.Cibi Mammen, Dr.Salim Joseph Thomas, Mr.Arun Mammen, Mr.Ashok Jacob, Mr.Jacob Kurian, Mr.K M Mammen, Mr.Meyyappan, Mr.N Kumar, Mr.Rahul Mammen Mappillai, Mr.Ranjit I Jesudasen, Mr.Samir Thariyan Mappillai, Mr.V Sridhar, Mr.Varun Mammen, Mr.Vijay R Kirloskar, Mrs.Ambika Mammen, Mrs.Vimla Abraham. Company has SCA & Associates as its auditoRs As on 31-12-2018, the company has a total of 4,241,143 shares outstanding.