{"id":72221,"date":"2022-11-09T17:10:00","date_gmt":"2022-11-09T11:40:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=72221"},"modified":"2022-11-09T18:02:07","modified_gmt":"2022-11-09T12:32:07","slug":"investors-lose-%e2%82%b9-9000-per-share-after-company-announced-its-q2-results","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/investors-lose-%e2%82%b9-9000-per-share-after-company-announced-its-q2-results\/","title":{"rendered":"Investors lose \u20b9 9,000 per share after company announced its Q2 results\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2188007387\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Investors lost \u20b9 9,000 per share after MRF\u2019s share price plunged 9.48 percent on Wednesday to reach an intraday low of \u20b9 85901.65. This happened after the company reported a substantial decline in its margins. Its shares were trading at \u20b9 86,724.10 apiece, 8.60 per cent lower at 02:51 PM on Wednesday.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2692074135\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The Chennai-based tyre manufacturer\u2019s revenue came in at \u20b9 5826.3 crores, up 18.71 per cent as compared to \u20b9 4907.8 crores during the same period last year. <\/p><p>However, its net profit for the quarter declined 24 per cent to \u20b9 145.4 crores on a consolidated basis. Further, its EBITDA margin for the September quarter fell to a multi-quarter low. It stood at 8.2 per cent, down 240 basis points as compared to the same period last year.\u00a0<\/p><p>Soaring input costs and supply chain issues during the quarter offset a rise in its revenue. MRF\u2019s raw material costs increased by 2 to 3%, its overall expenses jumped 21%, and its finance costs jumped 29%.\u00a0<\/p><div class=\"trade-content_5\" id=\"trade-1165164921\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>MRF\u2019s board has approved an interim dividend of \u20b9 3 per share and the record date for which has been set as November 18. The shares will start trading ex-dividend one business day before the record date. The dividend declared will be paid on or after 2 nd December 2022, according to a regulatory filing.\u00a0<\/p><p>Moreover, its board has also approved the enhancement in the issue of Non-Convertible Debentures through private placement from \u20b9 100 crore earlier to \u20b9 150 crore.&nbsp;<\/p><p>Analysts believe that the stock is already pricing in any recovery in margin due to falling commodity prices and are largely \u2018Neutral\u2019 to &#8216;Negative&#8217; on the scrip.&nbsp;<\/p><p><strong>Kotak Institutional securities has a sell rating on the stock with a target price of \u20b9 66,000. This indicates a downside of 23.90%. The brokerage said that the stock is currently trading at 29 times FY2024E EPS, which is very expensive given the commoditized nature of the business as well as weakening return ratio profile of the company.\u00a0<\/strong><\/p><p>It added that MRF&#8217;s revenue growth continues to lag peers. Further, MRF has lost market share in two-wheeler and PCR (passenger car radial tyres) segments, which is a cause for concern.&nbsp;<\/p><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-1862352551\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-530923115\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Investors lost \u20b9 9,000 per share after MRF\u2019s share price plunged 9.48 percent on Wednesday to reach an intraday low of \u20b9 85901.65. This happened after the company reported a substantial decline in its margins. Its shares were trading at \u20b9 86,724.10 apiece, 8.60 per cent lower at 02:51 PM on Wednesday.\u00a0 The Chennai-based tyre [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":19375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-72221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Investors lose \u20b9 9,000 per share after company announced its Q2 results\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/investors-lose-\u20b9-9000-per-share-after-company-announced-its-q2-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investors lose \u20b9 9,000 per share after company announced its Q2 results\u00a0\" \/>\n<meta property=\"og:description\" content=\"Investors lost \u20b9 9,000 per share after MRF\u2019s share price plunged 9.48 percent on Wednesday to reach an intraday low of \u20b9 85901.65. 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