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Indian tyre maker MRF beats Q2 profit view on higher replacement demand Indian tyre maker MRF reported better-than-expected second-quarter profit on Friday, as stronger replacement demand from retail customers outpaced muted sales to carmakers. The company's consolidated net profit fell 20.4% to 4.55 billion rupees (nearly $54 million) for the quarter ended Sept. 30, but it beat analysts' average estimate of 4.25 billion rupees, according to data compiled by LSEG. KEY CONTEXT Indian tyre makers have seen their quarterly profits decline between Ju...
Indian tyre maker MRF beats Q2 profit view on higher replacement demand
Indian tyre maker MRF beats Q2 profit view on higher replacement demand
Source: Reuters
2024-11-08 01:49:56 pm
MRF rides high despite its consolidated net profit drops marginally to Rs 571 crore in Q1 MRF is currently trading at Rs. 141570.05, up by 6908.10 points or 5.13% from its previous closing of Rs. 134661.95 on the BSE. The scrip opened at Rs. 135497.55 and has touched a high and low of Rs. 142485.10 and Rs. 132001.05 respectively. So far 1758 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 151283.40 on 23-Feb-2024 and a 52 week low of Rs. 104750.95 on 14-Aug-2023. Last one week high and low of the sc...
MRF rides high despite its consolidated net profit drops marginally to Rs 571 crore in Q1
MRF rides high despite its consolidated net profit drops marginally to Rs 571 crore in Q1
Source: Accord Fintech
2024-08-08 04:05:44 pm
Sell MRF Ltd. for Target Rs-110,000 by Elara Capital Weak operating performance Competitive pricing action hit margins While MRF’s (MRF IN) Q4 revenue was slightly above estimated, margin stood below expectations. Q4 revenue grew 9%/3% YoY/QoQ (CEAT’s topline growth: 4% YoY/1% QoQ). Outperformance in YoY revenue growth was likely due to market share gains in TBR. Gross margin dipped 120bps QoQ to 38.9% in Q4. Q3 EBITDA margin fell 300bps QoQ to 14.2%, lower than our estimates of 16.2%, while absolute EBITDA grew 5% YoY but dec...
Sell MRF Ltd. for Target Rs-110,000 by Elara Capital
Sell MRF Ltd. for Target Rs-110,000 by Elara Capital
Source: Elara Capital
2024-06-05 12:28:38 pm
Sell MRF Ltd. For Target Rs. 110,000 By Elara Capital Weak operating performance Competitive pricing action hit margins While MRF’s (MRF IN) Q4 revenue was slightly above estimated, margin stood below expectations. Q4 revenue grew 9%/3% YoY/QoQ (CEAT’s topline growth: 4% YoY/1% QoQ). Outperformance in YoY revenue growth was likely due to market share gains in TBR. Gross margin dipped 120bps QoQ to 38.9% in Q4. Q3 EBITDA margin fell 300bps QoQ to 14.2%, lower than our estimates of 16.2%, while absol...
Sell MRF Ltd. For Target Rs. 110,000 By Elara Capital
Sell MRF Ltd. For Target Rs. 110,000 By Elara Capital
Source: Elara Capital
2024-05-11 10:05:33 am
MRF logs Q3 PAT of Rs 508.02 cr, declares second interim dividend Closing the third quarter with a net profit of Rs 508.02 crore, tyre major MRF Ltd has declared second interim dividend of Rs 3 per equity share. In a regulatory filing, MRF said for the third quarter ended December 31, 2023, it has booked an operational revenue of Rs 6,047.79 crore (Q3FY23 Rs 5,534.92 crore) and an after tax profit of Rs 508.02 crore (Rs 169.22 crore). The Board of Directors of the company at their meeting on Friday declared a Second Interim Dividend of Rs 3 per equity...
MRF logs Q3 PAT of Rs 508.02 cr, declares second interim dividend
MRF logs Q3 PAT of Rs 508.02 cr, declares second interim dividend
Source: IANS
2024-02-10 09:31:58 am
India`s MRF Q3 profit jumps three-fold on uptick in two-wheeler sales Indian tyre maker MRF reported a three-fold rise in third-quarter profit on Friday, helped by an uptick in two-wheeler sales. MRF, the country's top tyre maker and the most expensive stock, said its profit from continuing operations for the three months ended Dec. 31 rose to 5.08 billion rupees (around $61 mln) from 1.69 billion rupees. The results are largely in line with those of other tyre makers, who reported profits that grew between 70% and 400%. Analysts said MRF, unlike f...
India`s MRF Q3 profit jumps three-fold on uptick in two-wheeler sales
India`s MRF Q3 profit jumps three-fold on uptick in two-wheeler sales
Source: IANS
2024-02-09 01:33:07 pm
MRF inches up on entering into power purchase agreement with First Energy 8 MRF is currently trading at Rs. 130600.00, up by 56.40 points or 0.04% from its previous closing of Rs. 130543.60 on the BSE. The scrip opened at Rs. 130800.00 and has touched a high and low of Rs. 131021.75 and Rs. 130301.00 respectively.  The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 131,021.75 on 04-Jan-2024 and a 52 week low of Rs. 81,390.95 on 16-Mar-2023. Last one week high and low of the scrip stood at Rs. 131021.75 and Rs. 125104....
MRF inches up on entering into power purchase agreement with First Energy 8
MRF inches up on entering into power purchase agreement with First Energy 8
Source: Accord Fintech
2024-01-04 09:54:18 am
Sell MRF Ltd For Target Rs.97,000 - Motilal Oswal Financial Services Ltd EBITDA in line despite a miss on revenue Margin for 2QFY24 likely to have peaked * MRF’s 2QFY24 performance was a mixed bag as revenue was below estimate at INR60.9b (+6% YoY; est. INR64.1b), while EBITDA was in line at INR11.3b (+2.4x YoY). However, lower RM costs led to an EBITDA margin beat. Margin stood at 18.5% (vs. est. 17.5%). We believe the 2Q margin reflects most of the tailwinds and should see some moderation in the coming quarters. * We tweak our FY24E/FY25E EPS by +...
Sell MRF Ltd For Target Rs.97,000 - Motilal Oswal Financial Services Ltd
Sell MRF Ltd For Target Rs.97,000 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2023-11-30 12:48:39 pm
Reduced material cost adds muscle to MRF`s Q2 profits to Rs 571.93 cr The `tyre with a muscle’ maker, MRF Ltd beefed up its bottomline for the second quarter of FY24 due to drastic reduction in material costs and increased operational revenue. The company has also declared an interim dividend of Rs 3 per share with a face value of Rs 10. In a regulatory filing, MRF said it had closed the quarter ended September 30 with an operational revenue of Rs 6,087.56 crore (Q2FY23 Rs 5,719 crore) and a net profit of Rs 571.93 crore (Rs 123.99 crore). During...
Reduced material cost adds muscle to MRF`s Q2 profits to Rs 571.93 cr
Reduced material cost adds muscle to MRF`s Q2 profits to Rs 571.93 cr
Source: IANS
2023-11-03 04:49:28 pm
Indian tyremaker MRF posts quarterly profit in line with estimates  India's MRF reported quarterly profit broadly in line with expectations on Friday, as the tyremaker benefited from softer raw material prices and steady demand for commercial vehicles. Standalone profit from continuous operations jumped over fourfold to 5.72 billion rupees ($68.71 million) for the quarter ended Sept. 30, while analysts, on average, expected a profit of 5.71 billion rupees, according to LSEG data. Steady demand for replacement tyres, and for commercial and pass...
Indian tyremaker MRF posts quarterly profit in line with estimates
Indian tyremaker MRF posts quarterly profit in line with estimates
Source: Reuters
2023-11-03 02:19:20 pm