Large Cap stock engaged in the business of manufacturing and sale of tires, tubes, flaps, tread rubber, and many more slumped 4 percent in the day’s trade upon posting weak Q4FY24 results.
With a market capitalization of Rs. 54,456 Crores, the shares of MRF Limited closed at Rs. 1,28,494.30, down 4.06 percent from its previous day’s close price of Rs. 1,33,926.
Its revenue from operations grew by 8.68 percent YoY from Rs. 5,841.72 Crores in Q4FY23 to Rs. 6,349.36 Crores in Q4FY24 and it grew by 3 percent QoQ from Rs. 6,162.46 Crores in Q3FY24 to Rs. 6,349.36 Crores in Q4FY24. Annually it generated a revenue of Rs. 23,008.5 Crores in FY23 and Rs. 25,169.21 Crores in FY24 indicating a growth of 9.39 percent YoY.
Its Net Profit grew by 16.28 percent YoY from Rs. 340.65 Crores in Q4FY23 to Rs. 396.11 Crores in Q4FY24 and it declined by 22.28 percent QoQ from Rs. 509.71 Crores in Q3FY24 to Rs. 396.11 Crores in Q4FY24. Annually it generated a profit of Rs. 768.94 Crores in FY23 and Rs. 2,081.23 Crores in FY24 indicating a growth of 170.66 percent YoY.
In Addition, the Board of Directors of MRF Limited has recommended a Final Dividend of 1940 percent i.e., Rs. 194 per equity share with a face value of Rs. 10 per share for the financial year 2023-24.
MRF Limited is engaged in the business of manufacturing and sale of tires, tubes, flaps, tread rubber, and dealing in rubber and rubber chemicals. It has a wide range of tires in various categories, including heavy-duty trucks, buses, light trucks, passenger cars, motorsports, farm services, military services, forklifts, two-wheelers, three-wheelers, earthmovers, and many more.
MRF Limited also offers a wide range of sports goods including junior kits, protective gear, the Virat Kohli range, the English Willow range, the Kashmir Willow range, and others.
Written by: Bharath K.S
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