MRF i.e. Madras Rubber Factory, the largest multinational tire manufacturing company in India, released the results for the fourth quarter of the financial year 2024 on Friday (May 3). The company’s standalone net profit declined by 7.6% year-on-year (YoY) to ₹379.6 crore in the January-March quarter (Q4FY24). The company’s standalone net profit in the same quarter last year was ₹410.66 crore. Whereas in the last quarter (Q3FY24) it was ₹508.02 crore. That means the company’s standalone net profit has declined by 25.27% on quarterly basis (QoQ). The company announced a dividend of Rs 194. Along with the results, the Board of Directors of MRF has also approved giving a dividend of Rs 194 per share to its investors. Companies give some part of the profits to their shareholders, it is called dividend. MRF’s revenue from operations increased by 8.55% year-on-year to ₹6,215.05 crore. MRF’s standalone revenue from operations in the fourth quarter increased by 8.55% year-on-year to ₹6,215.05 crore. In the same period of the last financial year, it was Rs 5,725.39 crore. The company’s standalone revenue in the last quarter (Q3FY24) stood at ₹6,047.79 crore. That means the company’s revenue has increased by 2.76% on quarterly basis (QoQ). 150% increase in profits in the entire financial year The company’s standalone profits have registered an increase of 150.04% in the entire financial year. The company’s standalone profit in FY24 was Rs 2,040.95 crore. In the last financial year i.e. FY23, the profit of MRF was Rs 816.23 crore. MRF gave 37.15% return to investors in one year. After the results, MRF shares fell by 4.14% and are trading at Rs 1,28,325 today. With this, the market cap of the company has also increased to Rs 54.52 thousand crore. The company’s shares have declined 5.78% in the last one month. Its share has increased by 19.11% in the last six months. In the last one year, it gave 37.15% returns to investors. MRF shares had become worth Rs 1.5 lakh in January. MRF shares had created history in January. MRF stock had crossed the record mark of Rs 1.5 lakh in the trading session on January 17. With this, MRF has become the first company in India to do so. The stock also made an all-time high and 52 week high of Rs 1,50,254.16 during the trading session. However, it closed at Rs 1,34,600.05 with a decline of 1.46%. At the beginning of the trading session, its shares opened at Rs 1,35,870. MRF share was worth Rs 50,000 in 2016. MRF share was worth Rs 1000 in the year 2000. Whereas in 2012 it reached the level of Rs 10,000. After this, in 2014 this stock touched the figure of Rs 25,000. Then it reached Rs 50,000 in 2016. 75,000 in the year 2018 and in June 2022, the shares of MRF had crossed the level of 1 lakh. At the same time, the stock of MRF has also crossed the mark of Rs 1.5 lakh. Why is MRF stock so expensive? The reason behind this is to never split the shares of the company. According to reports, MRF has never split its shares since 1975. At the same time, MRF had issued bonus shares in the ratio of 1:2 in 1970 and 3:10 in 1975. MRF exports to more than 75 countries of the world. The tire industry market in India is worth more than Rs 60,000 crore. JK Tire & Industries Limited and CEAT Tires are competitors of MRF. MRF has more than 2,500 distributors in India. Not only this, this company also exports to more than 75 countries of the world. MRF started by making toy-balloons. The full name of Chennai based MRF company is Madras Rubber Factory. This company started in 1946 by making toy balloons. The company started manufacturing tires since 1960. Now this company is the largest tire manufacturer in India.
