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Informist, Friday, Nov. 14, 2025

--MRF Jul-Sept net profit INR 5.12 bln 

--MRF Jul-Sept net profit INR 5.12 bln vs INR 4.55 bln year ago 

--MRF Jul-Sept revenue INR 72.50 bln vs INR 67.60 bln year ago 

--MRF to pay INR 3 per share interim dividend 

--MRF interim dividend record date is Nov 21 

--MRF Jul-Sept raw material cost INR 45.43 bln vs INR 47.16 bln year ago 

--MRF Apr-Sept net profit INR 9.96 bln vs INR 10.18 bln year ago 

--MRF Apr-Sept revenue INR 148.10 bln vs INR 138.38 bln year ago 

--MRF Jul-Sept operating margin 8.92% vs 8.37% year ago 

MUMBAI – MRF Ltd.'s bottom line for the September quarter rose in low double digits, in line with estimates. Its top line on the other hand missed most estimates, though it rose in high single digits. The company's operating margin improved steadily. 

The company's net profit for Jul-Sept rose over 12% on year to INR 5.12 billion. The bottom line came in largely better than the estimated INR 4.70 billion-INR 5.16 billion. Meanwhile, its revenue from operations rose a little over 7% on year to INR 72.50 billion during the quarter. The top line surpassed the forecast of INR 71.66 billion by Kotak Securities Ltd. but missed the estimates of INR 75.72 billion by Motilal Oswal Financial Services and INR 73.71 billion by Anand Rathi Share and Stock Brokers.

The stock slipped into losses, before briefly recovering after the results were announced. At 1304 IST, shares of the tyremaker traded 0.3% lower at INR 157,900 on the National Stock Exchange.  

The compay's total expenses in the September quarter rose around 7% on year to INR 66.74 billion. Inventory-related expenses for the reporting quarter was INR 585.80 million. In the year-ago quarter, the company had reduced expenses of INR 4.30 billion related to unsold inventory. Its raw material costs, which made up over 68% of overall expenditure, fell about 4% on year to INR 45.43 billion. Depreciation and amortisation costs increased around 9% on year to INR 4.43 billion and other expenses rose 3.5% on a year-on-year basis to INR 10.67 billion.  

The company's operating margin improved 55 basis points on year and 89 bps on quarter to 8.92%. Its net profit margin for the quarter under review was 6.95%, up 32 bps on year. The company's annualised inventory turnover, which measures efficiency in managing inventory stock, fell slightly to 5.13 times from 5.47 times a year ago.

For the first six months of 2025-26 (Apr-Mar), the company earned INR 148.10 billion as revenue from its core operations, up 7% on year. Its net profit for the same period fell 2% on year to INR 9.96 billion. The company said it will pay dividend of INR 3 per share and has set a record date of Nov. 21 for this.  End

Edited by Avishek Dutta

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