MRF Stock Posts Highest Quarterly Profit Growth In Over Two Years, But Misses Estimates

Gold Silver Reports (GSR) – MRF Posts Highest Quarterly Profit Growth In Over Two Years, But Misses Estimates – The country’s largest tyremaker reported its highest profit growth in over two years, but falls short of estimates during January-march period.

Key Earnings highlights (Q4, YoY)

✅ Net Profit up 20 percent At Rs 345 crore.

✅ Revenue up 15.8 percent at Rs 3,865.4 crore.

✅ Ebitda up 31.2 percent at Rs 686 crore.

✅ Margin at 17.7 percent versus 15.7 percent

✅ Board approved the issue of up to Rs 500 crore of debentures.

Rashesh Shah, Chairman At Edelweiss Group

Key highlights from the conversation:

✅ Expect credit business to clock 25-30 percent growth.

✅ Asset and wealth management sectors can expect about 20 percent growth going ahead.

✅ Expect life insurance business to break even in the financila year ending March 2022.

✅ Credit in India has been doubling every four years.

✅ Growing ARC book at 20-25 percent per annum; trend to continue.

✅ Edelweiss is open to strategic partnerships for our businesses.
Not looking for a financial partner as internal fund accruals are sufficient.