Operational revenue expanded by 17.4% to reach Rs 8,660.19 crore, supported by healthy demand in both original equipment and replacement categories. However, total expenditure climbed 21.8% to Rs 8,269.77 crore as raw material expenses jumped over 43% amid international market volatility. These cost-saving measures and price hikes proved insufficient to prevent the overall bottom-line contraction. The manufacturer expects lingering volatility in commodity markets to keep input and freight expenses elevated.
Key points
Robust product demand in both replacement and original equipment segments drove solid top…: Robust product demand in both replacement and original equipment segments drove solid top-line revenue growth.
Internal cost-reduction efforts and price increases were insufficient to fully absorb ste…: Internal cost-reduction efforts and price increases were insufficient to fully absorb steep raw material inflation.
The company declared an interim dividend of Rs 3 per share with a set record date of Nove…: The company declared an interim dividend of Rs 3 per share with a set record date of November 17.
Sources checked by our analysis pipeline: 1
Revenue from operations rose 17.4% to Rs 8,660.19 crore from Rs 7,378.72 crore a year earlier.
"The company delivered strong double-digit sales growth in the second quarter. We were able to capitalise on sustained demand for the company's products from both OE and replacement segments," MRF said in a press release.
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Total expenses increased 21.8% to Rs 8,269.77 crore in the September quarter from Rs 6,788.55 crore a year earlier. The cost of materials rose 43.2% to Rs 6,552.57 crore from Rs 4,577.49 crore.
The sharp rise in raw material prices amid global uncertainties adversely affected profitability during the quarter. Price increases and cost-saving measures helped mitigate the pressure, MRF said.
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The company expects continued disruptions and volatility in commodity markets, with raw material and logistics costs likely to remain elevated. "We will continue to take measured steps…
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