MRF (MRF) Q4 23/24 earnings summary

Executive summary

• Achieved record consolidated total income of ₹25,486 crores, up ₹2,225 crores year-over-year, with all-time high performance driven by strong brand and product portfolio.

• Net profit for FY24 surged to ₹2,041 crores from ₹816 crores in FY23, reflecting higher sales, lower raw material costs, and improved efficiencies.

• No major price increases during the year; a price reduction was implemented in a key truck tyre segment.

• Significant new product launches across passenger, two-wheeler, and commercial vehicle tyre segments, including premium offerings for luxury vehicles and high-performance motorcycles.

• Continued focus on ESG, with increased renewable energy sourcing, emission reduction, and water conservation initiatives.

Financial highlights

• Standalone revenue from operations grew 9.3% to ₹24,674 crores (FY23: ₹22,578 crores).

• Standalone profit before tax rose to ₹2,739 crores (FY23: ₹1,119 crores); net profit at ₹2,041 crores (FY23: ₹816 crores).

• Consolidated total income reached ₹25,486 crores; consolidated profit before tax was ₹2,787 crores.

• EBITDA increased to ₹4,480 crores from ₹2,666 crores year-over-year.

• Exports stood at ₹1,874 crores, nearly flat year-over-year.

• Dividend payout for FY24 totals ₹200 per share (2,000% of face value).

Outlook and guidance

• Anticipates muted growth in commercial vehicles and moderate growth in passenger vehicles for FY25.

• Two-wheeler sales expected to improve, supported by favorable monsoon and rural demand.

• Focus remains on maintaining growth in strong markets and expanding in emerging markets.