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India's MRF reports five-fold jump in Q1 profit on cooling rubber prices, higher demand  Indian tyremaker MRF reported a more-than-five-fold surge in first-quarter earnings on Thursday, beating estimates, as raw material prices eased and demand for higher-priced vehicles from consumers in urban areas held steady. Standalone profit from continuous operations jumped 417% to 5.81 billion rupees ($70.21 million) for the quarter ended June, from 1.12 billion rupees, a year earlier, according to a regulatory filing. Analysts, on average, had expected a profit of almost 3.83...
India's MRF reports five-fold jump in Q1 profit on cooling rubber prices, higher demand
India's MRF reports five-fold jump in Q1 profit on cooling rubber prices, higher demand
Source: Reuters
3/08/2023 1:54:08 PM
Tyre maker Goodyear India's Q1 profit rises as low rubber prices offsets weak demand Tyre manufacturer Goodyear India reported a higher quarterly profit as a drop in raw material prices helped make up for its first revenue fall in 12 quarters on low demand. The Indian unit of U.S.-based Goodyear Tire and Rubber Co said standalone profit rose 4% to 392.6 million rupees ($4.8 million) in the first quarter. While revenue from operations fell about 12% to 7.2 billion rupees, that was more than offset by a roughly 13% drop in expenses due to lower raw material prices. Rub...
Tyre maker Goodyear India's Q1 profit rises as low rubber prices offsets weak demand
Tyre maker Goodyear India's Q1 profit rises as low rubber prices offsets weak demand
Source: Reuters
2/08/2023 7:27:36 PM
India's JK Tyre reports nearly three-fold increase in Q4 profit BENGALURU - India's JK Tyre & Industries Ltd on Wednesday reported a nearly three-fold rise in fourth-quarter profit, as raw material costs fell and domestic demand saw a boost. The tyre-maker's consolidated net profit rose to 1.08 billion rupees ($13.2 million) in the quarter ended March 31, from 402 million rupees a year earlier, it said in an exchange filing. The company, which supplies to Maruti Suzuki India Ltd and Tata Motors Ltd, posted an almost 10% growth in revenue...
India's JK Tyre reports nearly three-fold increase in Q4 profit
India's JK Tyre reports nearly three-fold increase in Q4 profit
Source: Reuters
17/05/2023 6:59:32 PM
India's CEAT reports five-fold jump in Q4 profit on lower raw material costs Indian tyremaker CEAT Ltd reported a more-than-five-fold increase in its fourth-quarter profit on Thursday, aided by low raw material costs and strong domestic demand. CEAT's consolidated net profit rose to 1.34 billion rupees ($16.40 million) in the three months ended March 31, from 252.5 million rupees a year ago. Analysts, on average had expected a profit of 908.3 million rupees, according to Refinitiv IBES. Indian car and bike makers have reported strong domestic growth, whic...
India's CEAT reports five-fold jump in Q4 profit on lower raw material costs
India's CEAT reports five-fold jump in Q4 profit on lower raw material costs
Source: Reuters
4/05/2023 7:44:03 PM
Sell MRF Ltd For Target Rs. 75,400 - Motilal Oswal Financial Services MRF likely to underperform peers due to weak competitive position * MRF’s 4QFY23 performance surprised positively as lower RM costs boosted EBITDA margin to 14.7% (est. 11.9%). EBITDA margin recovery is expected to continue in FY24 on the back of softening RM costs and operating leverage. * We upgrade FY24E/FY25E EPS by 16.6%/4.7% to factor in the benefits of lower RM costs, which will support margin. However, we maintain Sell with a revised TP of INR75,400 (18x Mar-25E EPS) as it...
Sell MRF Ltd For Target Rs. 75,400 - Motilal Oswal Financial Services
Sell MRF Ltd For Target Rs. 75,400 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
4/05/2023 12:17:17 PM
MRF surges on reporting 2- fold jump in Q4 consolidated net profit MRF is currently trading at Rs. 95600.00, up by 2071.60 points or 2.21% from its previous closing of Rs. 93528.40 on the BSE. The scrip opened at Rs. 93300.00 and has touched a high and low of Rs. 95600.00 and Rs. 93060.30 respectively. So far 704 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 95954.35 on 07-Nov-2022 and a 52 week low of Rs. 65900.05 on 17-Jun-2022. Last one week high and low of the scrip stoo...
MRF surges on reporting 2- fold jump in Q4 consolidated net profit
MRF surges on reporting 2- fold jump in Q4 consolidated net profit
Source: Accord Fintech
4/05/2023 11:15:08 AM
MRF rolls in a net profit of Rs 768.96cr in FY23 Automobile tyre major MRF Ltd closed FY23 with a total income of Rs 23,261.17 crore, a consolidated net profit of Rs 768.96 crore. The company said that last fiscal, it had earned total income of Rs 23,261.17 crore (against previous year's Rs 19,633.71 crore) and an after tax profit of Rs 768.96 crore (against previous year's Rs 669.24 crore). MRF shipped out goods worth Rs 1,877 crore last fiscal as against Rs 1,791 crore for the previous year ended March 31, 2022. The unpre...
MRF rolls in a net profit of Rs 768.96cr in FY23
MRF rolls in a net profit of Rs 768.96cr in FY23
Source: IANS
3/05/2023 6:35:39 PM
HireMee launches AI employability test for graduates in tough job market Amid growing layoffs especially in the tech industry, talent acquisition and talent management platform HireMee on Friday announced an employability test for graduates to gain an edge with prospective employers. The HireMee's 100-minute online test is a proven diagnostic assessment to calibrate employability skills of youth. Engineering graduates of the 2023 batch and earlier can take the test from the comfort of their home or college on a computer or a mobile phone through a downlo...
HireMee launches AI employability test for graduates in tough job market
HireMee launches AI employability test for graduates in tough job market
Source: IANS
24/03/2023 12:33:08 PM
MRF inches up on raising Rs 150 crore through NCDs MRF is currently trading at Rs. 85200.00, up by 104.60 points or 0.12% from its previous closing of Rs. 85095.40 on the BSE. The scrip opened at Rs. 85759.70 and has touched a high and low of Rs. 85809.05 and Rs. 84612.20 respectively. So far 100 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 95954.35 on 07-Nov-2022 and a 52 week low of Rs. 63800.05 on 07-Mar-2022. Last one week high and low of the scrip stood...
MRF inches up on raising Rs 150 crore through NCDs
MRF inches up on raising Rs 150 crore through NCDs
Source: Accord Fintech
28/02/2023 1:32:55 PM
India's MRF reports Q3 profit jump on softer raw material prices, solid demand  Indian tyremaker MRF reported a 16% jump in quarterly profit on Thursday, as raw material prices eased and a pickup in economic activity led to higher demand for its now-pricier tyres. Standalone profit from continuing operations was 1.69 billion rupees ($20.46 million) for the third quarter ended Dec. 31, according to an exchange filing. MRF's total expenses rose 14% to 53.81 billion rupees, nearly half of the increase in the first six months of the current fiscal year. Re...
India's MRF reports Q3 profit jump on softer raw material prices, solid demand
India's MRF reports Q3 profit jump on softer raw material prices, solid demand
Source: Reuters
9/02/2023 2:46:14 PM
Neutral MRF Ltd For Target Rs. 86575 - Motilal Oswal Financial Services Below estimates; performance adversely impacted by higher costs Commodity cost expected to soften in 2HFY23 * MRF’s 2QFY23 performance was adversely impacted due to RM cost pressures despite good beat on revenues. The industry is taking gradual price increases to dilute the impact of severe cost inflation. * While we reduce our FY23E EPS by 19% to account for high RM costs, we maintain our FY24E EPS. We reiterate our Neutral rating with a TP of INR86,575 (~20x Dec-24 EPS). M...
Neutral MRF Ltd For Target Rs. 86575 - Motilal Oswal Financial Services
Neutral MRF Ltd For Target Rs. 86575 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
21/11/2022 11:55:38 AM
Indian tyremaker MRF misses Sept-qtr profit estimates as input costs weigh Indian tyre manufacturer MRF Ltd missed second-quarter profit estimates on Tuesday, as soaring input costs and supply chain issues weighed, offsetting a rise in revenue. Standalone net profit from continuing operations fell 32.4% to 1.24 billion rupees ($15.14 million) for the three months ended Sept. 30, from 1.83 billion rupees a year earlier, it said in an exchange filing. Analysts on average had expected a profit of 1.85 billion rupees, according to Refinitiv IBES data. The tyre ...
Indian tyremaker MRF misses Sept-qtr profit estimates as input costs weigh
Indian tyremaker MRF misses Sept-qtr profit estimates as input costs weigh
Source: Reuters
8/11/2022 4:29:12 PM
Neutral MRF Ltd For Target Rs. 80,000- Motilal Oswal Financial Services Below our estimate; impacted by cost pressure and MTM losses Commodity cost inflation expected to taper in 2HFY23 * MRF’s 1QFY23 revenue was a beat, but margin was impacted due to cost pressures (RM cost pressure and higher other expenses). Lower other income impacted PAT. The industry is taking gradual price increases to dilute the impact of severe cost inflation. * We reduce our FY23 EPS estimate by 5.5% to account for margin pressure and upgrade out FY24 EPS estimate by ~...
Neutral MRF Ltd For Target Rs. 80,000- Motilal Oswal Financial Services
Neutral MRF Ltd For Target Rs. 80,000- Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
10/08/2022 12:54:41 PM
MRF Ltd Q1 net profit down 30.35% at Rs 112.36 cr The company reported standalone net profit of Rs 112.36 crore for the quarter ended June 30, 2022 as compared to Rs 161.33 crore in the same period last year, registering a year-on-year decline of 30.35 per cent. Net revenue of the company rose substantially by 35.64 per cent at Rs 5,598.92 crore in April-June quarter of this fiscal as against Rs 4,127.72 crore in the corresponding period last year.  During April-June quarter, operating expenses increased by 40.66 per cent to Rs 5,120.6...
MRF Ltd Q1 net profit down 30.35% at Rs 112.36 cr
MRF Ltd Q1 net profit down 30.35% at Rs 112.36 cr
Source: Dion Global Solutions Ltd
9/08/2022 2:10:59 PM
MRF gains despite reporting 50% fall in Q4 consolidated net profit MRF is currently trading at Rs. 68750.00, up by 76.05 points or 0.11% from its previous closing of Rs. 68673.95 on the BSE. The scrip opened at Rs. 68100.00 and has touched a high and low of Rs. 69233.50 and Rs. 67885.05 respectively. So far 177 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 87579.85 on 11-Oct-2021 and a 52 week low of Rs. 62944.50 on 24-Feb-2022. Last one week high and low of the scrip stood ...
MRF gains despite reporting 50% fall in Q4 consolidated net profit
MRF gains despite reporting 50% fall in Q4 consolidated net profit
Source: Accord Fintech
11/05/2022 3:00:43 PM
Key News - ICICI Bank Ltd, Cera Sanitaryware Ltd, Asian Paints Ltd, MRF Ltd, Dalmia Bharat Ltd, By ARETE Securities Key News ICICI Bank, UK's Santander sign MoU to ease corporate banking at both ends One of India's leading private sector banks, ICICI Bank, on Tuesday announced a tie-up with Santander bank in Britain in a pact aimed at facilitating the banking requirements of corporates operating across both countries. The memorandum of understanding (MoU) between ICICI and Santander UK Plc, signed in Mumbai, is designed to establish a framework of partnership between the banks to meet the fi...
Key News - ICICI Bank Ltd, Cera Sanitaryware Ltd, Asian Paints Ltd, MRF Ltd, Dalmia Bharat Ltd, By ARETE Securities
Key News - ICICI Bank Ltd, Cera Sanitaryware Ltd, Asian Paints Ltd, MRF Ltd, Dalmia Bharat Ltd, By ARETE Securities
Source: ARETE Securities Ltd
11/05/2022 9:27:57 AM
MRF closes FY22 with lower profit after tax at Rs 647.34 crore Tyre major MRF Ltd closed FY22 with a lower net profit on a higher revenue as compared to FY21. The company's board recommended a final dividend of Rs 144 per share of Rs 10 each. The total dividend for FY22 was Rs 150 after taking into account two interim dividends of Rs 3 each. For the period under review, MRF had posted a total income of Rs 19,304.43 crore up from Rs 16,128.58 crore. The company had posted a net profit of Rs 647.34 crore last fiscal, down from Rs 1,249.06 cror...
MRF closes FY22 with lower profit after tax at Rs 647.34 crore
MRF closes FY22 with lower profit after tax at Rs 647.34 crore
Source: IANS
10/05/2022 4:48:11 PM
MRF Ltd Q4 net profit down 50.58% at Rs 156.78 cr The company reported standalone net profit of Rs 156.78 crore for the quarter ended March 31, 2022 as compared to Rs 317.26 crore in the same period last year, registering a year-on-year decline of 50.58 per cent. Net revenue of the company rose moderately by 9.76 per cent at Rs 5,200.29 crore in January-March quarter of this fiscal as against Rs 4,737.68 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 17.05 per cent to Rs 4,672.76 cr...
MRF Ltd Q4 net profit down 50.58% at Rs 156.78 cr
MRF Ltd Q4 net profit down 50.58% at Rs 156.78 cr
Source: Dion Global Solutions Ltd
10/05/2022 3:38:01 PM
Key News - Union Bank of India Ltd, MRF Ltd , Hindalco Industries , Bharat Forge, Dr Lal Path Labs By ARETE Securities Key News Union Bank of India looks to move to a new tax regime in FY23 Union Bank of India is looking to move to a new tax regime in the next financial year. It will use Rs 12,000 crore — available in the deferred tax asset (DTA) pool — to set off any tax obligations. The public sector lender plans to raise capital via Rs 1,000 crore in additional tier 1 bonds (AT1 bonds) based on market conditions. Rajkiran Rai G, managing director (MD) & chief executive officer (CEO), ...
Key News - Union Bank of India Ltd, MRF Ltd , Hindalco Industries , Bharat Forge, Dr Lal Path Labs By ARETE Securities
Key News - Union Bank of India Ltd, MRF Ltd , Hindalco Industries , Bharat Forge, Dr Lal Path Labs By ARETE Securities
Source: ARETE Securities Ltd
11/02/2022 9:12:04 AM
CCI imposes Rs 1,786 cr fine on five tyre cos for indulging in cartelisation The Competition Commission of India (CCI) on Wednesday said it has imposed penalties of Rs 425.53 crore on Apollo Tyres, Rs 622.09 crore on MRF, Rs 252.16 crore on CEAT, Rs 309.95 crore on JK Tyre and Rs 178.33 crore on Birla Tyres for indulging in cartelisation. Beside, the fair market regulator passed a "cease and desist order" against them. On August 31, 2018, the CCI had given an ruling against these tyre companies and their association, the Automotive Tyre Manufacturers A...
CCI imposes Rs 1,786 cr fine on five tyre cos for indulging in cartelisation
CCI imposes Rs 1,786 cr fine on five tyre cos for indulging in cartelisation
Source: IANS
3/02/2022 10:22:03 AM
Neutral MRF Ltd For Target Rs.73,700 - Motilal Oswal Below est; Higher RM, other cost impact margins MRFs sales grew weaker than peers due to weakness in TBB & Farm * MRF's 2QFY22 performance was impacted by RM cost inflation and higher other cost. MRF lagged peers in revenue growth due to weaker performance of TBB and farm segment. The industry is taking gradual price increases to dilute impact of severe cost inflation. * We cut our FY22E/FY23E EPS by ~29%/14% to factor in for RM cost inflation and higher other expenses. ...
Neutral MRF Ltd For Target Rs.73,700 - Motilal Oswal
Neutral MRF Ltd For Target Rs.73,700 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
30/12/2021 12:29:21 PM
Neutral MRF Ltd For Target Rs.83,730 - Motilal Oswal Operating de-leverage impacts performance Price increases to pass on cost inflation happening gradually * MRF’s 1QFY22 operating performance was impacted by operating deleverage and RM cost inflation. The industry is taking gradual price increases to dilute the impact of severe cost inflation. * We cut our FY22E/FY23E EPS by ~11%/3%, factoring in the RM cost inflation. Maintain Neutral.   Revenue decline in-line v/s peers; price hike dilutes cost impact * Revenue/...
Neutral MRF Ltd For Target Rs.83,730 - Motilal Oswal
Neutral MRF Ltd For Target Rs.83,730 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
16/09/2021 11:01:26 AM
MRF surges on reporting many fold jump in Q1 consolidated net profit MRF is currently trading at Rs. 80230.00, up by 216.10 points or 0.27% from its previous closing of Rs. 80013.90 on the BSE. The scrip opened at Rs. 80200.00 and has touched a high and low of Rs. 80931.15 and Rs. 79755.05 respectively. So far 363 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 98575.90 on 11-Feb-2021 and a 52 week low of Rs. 55360.35 on 24-Sep-2020. Last one week high and low of the scrip stood...
MRF surges on reporting many fold jump in Q1 consolidated net profit
MRF surges on reporting many fold jump in Q1 consolidated net profit
Source: Accord Fintech
10/08/2021 12:04:33 PM
MRF Board recommends final and also special dividend  Tyre major MRF Ltd on Monday said it closed last fiscal with a total income of Rs 16,128.58 crore and a net profit of Rs 1,249.06 crore. The company had closed FY20 with a total income of Rs 16,321.64 crore and a net profit of Rs 1,394.98 crore. The company also said the Board of Directors have recommended a final dividend of Rs 94 (940 per cent) per share with a face value of Rs 10. In addition to the final dividend, the MRF Board has recommended a special dividend of Rs 50 (5...
MRF Board recommends final and also special dividend
MRF Board recommends final and also special dividend
Source: IANS
7/06/2021 3:50:46 PM
MRF shines on reporting 2- fold jump in Q3 consolidated net profit MRF is currently trading at Rs. 92856.45, up by 2779.65 points or 3.09% from its previous closing of Rs. 90076.80 on the BSE. The scrip opened at Rs. 91990.00 and has touched a high and low of Rs. 92800.00 and Rs. 90381.75 respectively. So far 1654 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 98575.90 on 11-Feb-2021 and a 52 week low of Rs. 50000.00 on 24-Mar-2020. Last one week high and low of the scrip sto...
MRF shines on reporting 2- fold jump in Q3 consolidated net profit
MRF shines on reporting 2- fold jump in Q3 consolidated net profit
Source: Accord Fintech
12/02/2021 10:43:34 AM