On consolidated basis
Quarter ended December 2024 compared with Quarter ended December 2023.
Net sales (including other operating income) of MRF has increased 13.60% to Rs 7000.82 crore. Operating profit margin has declined from 17.12% to 11.92%, leading to 20.86% decline in operating profit to Rs 834.74 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 60.26% to 66.24%. Purchase of finished goods cost rose from 0.09% to 0.10%. Employee cost decreased from 7.15% to 6.68%. Other expenses fell from 15.74% to 15.11%. Other income rose 26.36% to Rs 98.08 crore. PBIDT fell 17.62% to Rs 932.82 crore. Provision for interest rose 4.06% to Rs 93.65 crore. PBDT fell 19.50% to Rs 839.17 crore. Provision for depreciation rose 15.28% to Rs 414.99 crore. Profit before tax down 37.84% to Rs 424.18 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 108.72 crore, compared to Rs 172.7 crore. Effective tax rate was 25.63% compared to 25.31%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 38.11% to Rs 315.45 crore. Promoters’ stake was 27.80% as of 31 December 2024 ,compared to 27.75% as of 31 December 2023 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of MRF has increased 12% to Rs 21078.36 crore. Operating profit margin has declined from 17.76% to 14.26%, leading to 10.05% decline in operating profit to Rs 3,005.84 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 59.83% to 64.26%. Purchase of finished goods cost rose from 0.08% to 0.10%. Employee cost decreased from 6.96% to 6.56%. Other expenses fell from 15.46% to 15.05%. Other income rose 32.42% to Rs 295.33 crore. PBIDT fell 7.39% to Rs 3301.17 crore. Provision for interest rose 0.90% to Rs 262.1 crore. PBDT fell 8.04% to Rs 3039.07 crore. Provision for depreciation rose 16.85% to Rs 1220.8 crore. Profit before tax down 19.55% to Rs 1,818.27 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 461.09 crore, compared to Rs 574.96 crore. Effective tax rate was 25.36% compared to 25.44%.Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 19.46% to Rs 1,357.17 crore. Promoters’ stake was 27.80% as of 31 December 2024 ,compared to 27.75% as of 31 December 2023 .
Full year results analysis.
Net sales (including other operating income) of MRF has increased 9.39% to Rs 25169.21 crore. Operating profit margin has jumped from 10.38% to 16.90%, leading to 78.04% rise in operating profit to Rs 4,253.56 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 67.44% to 60.12%. Purchase of finished goods cost fell from 0.15% to 0.09%. Employee cost increased from 6.83% to 7.09%. Other expenses rose from 15.35% to 15.93%. Other income rose 25.40% to Rs 316.84 crore. PBIDT rose 73.01% to Rs 4570.4 crore. Provision for interest rose 10.66% to Rs 353.01 crore. Loan funds declined from Rs 3,013.61 crore as of 31 March 2023 to Rs 2,821.50 crore as of 31 March 2024. Inventories rose to Rs 4,468.58 crore as of 31 March 2024 from Rs 4,141.05 crore as of 31 March 2023. Sundry debtors were higher at Rs 2,911.96 crore as of 31 March 2024 compared to Rs 2,503.27 crore as of 31 March 2023. Cash and bank balance rose to Rs 345.38 crore as of 31 March 2024 from Rs 258.49 crore as of 31 March 2023. Investments rose to Rs 3,382.97 crore as of 31 March 2024 from Rs 3,085.11 crore as of 31 March 2023 . PBDT rose 81.57% to Rs 4217.39 crore. Provision for depreciation rose 14.12% to Rs 1429.97 crore. Fixed assets increased to Rs 14,405.01 crore as of 31 March 2024 from Rs 13,137.89 crore as of 31 March 2023. Intangible assets declined from Rs 25.94 crore to Rs 25.74 crore. Profit before tax grew 160.57% to Rs 2,787.42 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 706.19 crore, compared to Rs 300.78 crore. Effective tax rate was 25.33% compared to 28.12%. Net profit attributable to owners of the company increased 170.66% to Rs 2,081.22 crore. Equity capital stood at Rs 4.24 crore as of 31 March 2024 to Rs 4.24 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00. Promoters’ stake was 27.78% as of 31 March 2024 ,compared to 27.84% as of 31 March 2023 . Promoters pledged stake was 0.09% as of 31 March 2024 ,compared to 0.09% as of 31 March 2023 . Cash flow from operating activities increased to Rs 3,300.50 crore for year ended March 2024 from Rs 2,755.47 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 2,162.32 crore, compared to Rs 3,291.24 crore during the year ended March 2023. Other Highlights
The Board has declared a second interim
dividend of Rs 3 per equity share for the financial year ending 31 March 2025.
The company has set 14 February 2025 as the record date for this purpose.
| MRF : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 7,000.82 | 6,162.46 | 13.60 | 21,078.36 | 18,819.85 | 12.00 | 25,169.21 | 23,008.50 | 9.39 | | OPM (%) | 11.92 | 17.12 | -519 bps | 14.26 | 17.76 | -350 bps | 16.90 | 10.38 | 652 bps | | OP | 834.74 | 1,054.77 | -20.86 | 3,005.84 | 3,341.53 | -10.05 | 4,253.56 | 2,389.10 | 78.04 | | Other Inc. | 98.08 | 77.62 | 26.36 | 295.33 | 223.03 | 32.42 | 316.84 | 252.67 | 25.40 | | PBIDT | 932.82 | 1,132.39 | -17.62 | 3,301.17 | 3,564.56 | -7.39 | 4,570.40 | 2,641.77 | 73.01 | | Interest | 93.65 | 90.00 | 4.06 | 262.10 | 259.76 | 0.90 | 353.01 | 319.01 | 10.66 | | PBDT | 839.17 | 1,042.39 | -19.50 | 3,039.07 | 3,304.80 | -8.04 | 4,217.39 | 2,322.76 | 81.57 | | Depreciation | 414.99 | 359.98 | 15.28 | 1220.8 | 1044.72 | 16.85 | 1429.97 | 1253.04 | 14.12 | | PBT | 424.18 | 682.41 | -37.84 | 1818.27 | 2260.08 | -19.55 | 2787.42 | 1069.72 | 160.57 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 424.18 | 682.41 | -37.84 | 1818.27 | 2260.08 | -19.55 | 2787.42 | 1069.72 | 160.57 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 424.18 | 682.41 | -37.84 | 1818.27 | 2260.08 | -19.55 | 2787.42 | 1069.72 | 160.57 | | Taxation | 108.72 | 172.7 | -37.05 | 461.09 | 574.96 | -19.80 | 706.19 | 300.78 | 134.79 | | PAT | 315.46 | 509.71 | -38.11 | 1357.18 | 1685.12 | -19.46 | 2081.23 | 768.94 | 170.66 | | Minority Interest (MI) | 0.01 | 0 | - | 0.01 | 0 | - | 0.01 | 0.01 | 0 | | Net profit | 315.45 | 509.71 | -38.11 | 1357.17 | 1685.12 | -19.46 | 2081.22 | 768.93 | 170.66 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 315.45 | 509.71 | -38.11 | 1357.17 | 1685.12 | -19.46 | 2081.22 | 768.93 | 170.66 | | EPS (Rs)* | 743.79 | 1,201.82 | -38.11 | 3,200.01 | 3,973.27 | -19.46 | 4,907.21 | 1,813.03 | 170.66 | | | * EPS is on current equity of Rs 4.24 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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