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MRF
PB (Price/Book ) Ratio

The Current P/B Ratio of MRF is 2.46.

Share Price ₹123,045.0Oct 01,2026
Market Cap ₹51,678.9 Cr
Book Value₹20,974.6 CrMar2026 - Consolidated Results
Price/Book 2.46xCalculated as MarketCap/Book Value
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Definition & Calculation of PB (Price/Book ) ratio of MRF

Price-to-Book ratio, P/B Multiple, or P/B Ratio is an important valuation multiple that is defined as:

P/B = Market Capitalization / Book Value

or, using per-share numbers:

P/B = Stock Price / Book Value Per Share

Applying the above formula, P/B ratio of MRF is calculated as :

Current Market Cap [ ₹51,678.9 Cr] as on Oct 01,2026

(/) Book Value [ ₹20,974.6 Cr] based on Mar2026 - Consolidated Results

(=) P/B Ratio [ 2.46x ]

P/B Ratio indicates 'the multiple of book value' investors are willing to pay to own one share of the company.

Thus, for MRF , the investors are currently willing to pay '2.46 times book value' to own 1 share of the company.

PB Multiples are one of the most widely used valuation multiple in industry.

Since P/B ratio uses Book Value in the calculation, P/B multiples are not always reliable for valuing companies with negative book value.

In such cases, you may consider using Price to Earnings ratio or Price to Sales ratio of MRF !

The chart below summarizes the trend in P/B Ratio of MRF over the last five years.

Historical PB (Price/Book ) ratio chart of MRF


PB Ratio Performance Analysis for MRF

- MRF 's latest p/b ratio is 2.46x.

- MRF 's p/b ratio for fiscal years ending Mar2026 to Mar2022 averaged 2.59x.

- MRF 's operated at median p/b ratio of 2.57x from fiscal years ending March 2018 to 2022.

- Looking back at the last 5 fiscal years, MRF 's p/b ratio peaked in Mar2024 at 3.38x.

- MRF 's p/b ratio hit its five-year low in Mar2022 of 1.96x.


How does MRF 's P/B Ratio benchmark against top 10 peers in Tyres & Allied Industry?

Peer Comparison (Tyres & Allied Industry)Book ValuePB RatioMarket Cap
MRF 20,974.602.4651,678.9
BALKRISHNA INDUSTRIES LTD10,955.303.6740,244.8
APOLLO TYRES LTD16,698.901.5425,750.2
CEAT LTD5,041.512.6413,296.2
JK TYRE & INDUSTRIES LTD6,060.821.629,811.9
TVS SRICHAKRA LTD1,190.182.793,323.5
GOODYEAR INDIA LTD606.192.651,604.0
TOLINS TYRES LTD361.240.93337.4
DOLFIN RUBBERS LTD38.924.46173.5

Tyres & Allied Industry Benchmark (Top 10) PB Analysis vs MRF 's P/B Ratio

Top 10 Industry PeersPB Ratio
Min industry PB 0.93x
Max industry PB 4.46x
Median industry PB 2.64x
Average industry PB 2.53x



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