MRF

Aug 11 (Reuters) - MRF Ltd MRF.NS:

• MRF Q1 PROFIT FROM CONTINUING OPERATIONS 4.74 BILLION RUPEES

• MRF Q1 REVENUE FROM OPERATIONS 82.92 BILLION RUPEES

Further company coverage: MRF.NS

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** Shares of MRF MRF.NS up as much as 2.8%, last up 1.1% at 131,725 rupees

** Tyremaker's Q4 profit rises 36.7% to 6.8 billion rupees ($72.00 million)

** Q4 rev from ops up 13.9% to 79.08 billion rupees

** Stock rated as "Hold" on average by 6 analysts; median PT at 151,947 rupees

** YTD, stock down 14.3%

($1 = 94.4488 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

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March 24 (Reuters) - MRF Ltd MRF.NS:

• MRF- TAX PENALTY OF 3.71 MILLION RUPEES IMPOSED BY DEPUTY COMMISSIONER OF INCOME TAX, MINISTRY OF FINANCE

Source text: [ID:]

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March 17 (Reuters) - MRF Ltd MRF.NS:

• MRF - CESTAT ALLOWS CO'S APPEAL AGAINST TAX AUTHORITY WITH CONSEQUENTIAL RELIEF IN FAVOUR OF CO

Source text: ID:nBSE8wBlHw

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March 4 (Reuters) - MRF Ltd MRF.NS:

• MRF - EXECUTES NON-BINDING MOU WITH TAMIL NADU FOR GREENFIELD PROJECT IN SIVAGANGA

• MRF - PROJECT ENVISAGES ESTIMATED INVESTMENT OF 53 BILLION RUPEES OVER 12 YEARS

Source text: ID:nNSE6kmjWt

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** India's MRF MRF.NS shares jump 7.2% to 144,600 rupees

** Tyremaker's Q3 profit jumps more than two-fold to 6.79 bln rupees ($74.8 mln); rev from ops rises 15.3%

** Stock rated as "sell" on an average by 10 analysts; median PT at 145,877.5 rupees, per data compiled by LSEG

** MRF rose 17% in 2025; YTD down 10.5%

($1 = 90.7480 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

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** Shares of tyre maker MRF MRF.NS up 1.8% to a record 155,670 rupees

** Auto dealers saw increased footfalls as buyers thronged dealerships in large numbers on Monday to buy vehicles with lower price tags under the new GST regime, PTI reports, citing Federation of Automobile Dealers Association (FADA) President C S Vigneshwar

** Increased vehicle demand positive for tyre manufacturers; rivals CEAT CEAT.NS, JK Tyre JKIN.NS up 0.6%, 0.8% respectively

** Separately, MRF says Tamil Nadu plant partially active despite some workers' strike

** Avg rating of 10 analysts is "hold"; median PT is 133,282 rupees - data compiled by LSEG

** YTD, MRF up 17% vs CEAT's 7% gain vs JKIN's 3% fall vs Nifty Auto's .NIFTYAUTO 20% advance

(Reporting by Anuran Sadhu in Bengaluru)

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** Indian tyre maker MRF MRF.NS dips as much as 3.5% to 137,215 rupees, last down 0.6%

** Co posted a ~14% on-year drop in Q1 profit from cont. ops due to higher rubber costs - a key raw material

** Expenses jumped about 10%; rev grew 7%

** Stock was down marginally ahead of results

** Stock rated "Sell" on avg, median PT at 132,499 rupees - data compiled by LSEG

** Year-to-date, stock up 8%

(Reporting by Manvi Pant in Bengaluru)

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** Shares of tyre maker MRF MRF.NS climb 0.5% to 141,110 rupees

** CLSA raises PT on India's priciest stock to 168,426 rupees from 128,599 rupees; retains "outperform" rating

** CLSA's new PT is the highest among brokerages tracking the stock, compared to the previous Street high of 160,000 rupees by Anand Rathi

** Brokerage says it expects MRF's margins to improve significantly on lower crude oil-based raw material costs and easing Indian rubber prices

** Brent crude futures LCOc1 have dropped 18% so far this year

** CLSA estimates EBITDA margin will improve to 17.3%-17.8% by FY27 from 14.3% in FY25

** Adds, MRF's better portfolio has helped it outperform peers and should also help it generate free cash flow of 27 billion rupees ($318.7 million) in FY27

** Avg rating on the stock is a "hold", compared to "buy" for CEAT CEAT.NS, Apollo Tyres APLO.NS and JK Tyre JKIN.NS - data compiled by LSEG

** MRF stock's 7.8% YTD climb this year trails only CEAT's 16% rise

($1 = 84.7200 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of MRF ltd MRF.NS up 3.7% at 140,000 rupees

** Tyre maker reports Q4 profit from cont ops of 4.98 billion rupees, beating analysts' estimate of 3.57 billion rupees, per data compiled by LSEG

** Rev came largely in line with estimates at 69.44 billion rupees

** MRF also declares dividend of 229 rupees per share

** Trading volume pick up post earnings announcement, currently at nearly 2x the 30-day avg

** Stock up 7% so far in 2025

(Reporting by Nishit Navin)

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Feb 6 (Reuters) - Indian tyre maker MRF MRF.NS posted a near 40% fall in third-quarter profit on Thursday, as higher rubber costs outweighed steady demand for tyre, sending its shares more than 3% lower.

Standalone net profit was 3.07 billion rupees ($35.06 million) in the quarter ended Dec. 31, missing analysts' average estimate of 4.2 billion rupees, according to LSEG data.

Revenue from operations rose 13.8% to 68.83 billion rupees, beating analysts' average estimate of 67.33 billion rupees, while total expenses increased 20.6%.

MRF makes tyres for vehicles of Hyundai Motor India HYUN.NS and Bajaj Auto BAJA.NS, among others.

For further earnings highlights, click (Full Story)

KEY CONTEXT

Prices of rubber, a key raw material for tyre makers, rose in the December quarter, analysts said. Cost of materials consumed rose 23.8% to 46.34 billion rupees for MRF.

Total vehicle sales in India rose 3.1% year-on-year in the reported quarter, compared with a 19.5% jump in the year-earlier period. This weighed on tyre makers such as MRF, which depend on auto sales for a big chunk of their revenue.

Meanwhile, replacement demand, where customers change old or worn-out tyres with new ones, along with price hikes helped boost revenue, analysts said.

PEER COMPARISON

* The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 87.5575 Indian rupees

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Subhranshu Sahu)

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Nov 8 (Reuters) - MRF Ltd MRF.NS:

• Q1 PROFIT FROM CONTINUING OPERATIONS 4.55 BILLION RUPEES; IBES PROFIT EST. 4.25 BILLION RUPEES

• Q1 REVENUE FROM OPERATIONS 67.60 BILLION RUPEES; IBES EST. 65.74 BILLION RUPEES

• DIVIDEND 3 RUPEES PER SHARE

Further company coverage: MRF.NS

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** Shares of tyre maker MRF MRF.NS rise as much as 4.3% to 140,470 rupees

** Co's Q1 profit from cont. ops fell about 3.3% y/y to 5.63 bln rupees ($67.1 mln), but beat analysts' estimate of 4.25 bln rupees, as per LSEG data

** Co set to snap a five-day losing streak, if gains hold

** More than 17,000 shares change hands, 1.6x its 30-day avg

** Analysts' avg rating on stock is "sell", their median PT is 104,500 rupees - about 30% lower than last closing price

** At current levels, MRF stock has risen ~9% YTD

($1 = 83.9600 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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By Praveen Paramasivam

May 8 (Reuters) - Rockwell Automation ROK.N is mulling expanding its technology workforce and opening more factories to boost manufacturing in India, a senior executive said on Wednesday, days after unveiling plans to construct a plant in the southern state of Tamil Nadu.

The industrial automation equipment maker, which completed 40 years in India in 2023, counts many manufacturing giants, including Reliance Industries RELI.NS, Mahindra Group and MRF MRF.NS, as its customers.

"We see India as a technology hub for our current and future product development, hardware and software," Rockwell Asia Pacific Regional President Scott Wooldridge told Reuters on Wednesday.

Rockwell, which currently employs 4,500 people and has a majority of its Indian tech workers in Noida, Pune and Bengaluru, also plans to sharpen its focus on hardware and software product development by hiring more people for its technology centers.

"We'd continue to expand at a similar rate to what we've expanded the last five or six years, where we went from 500 to 3,500," Wooldridge said.

Rockwell's plan comes at a time when Indian IT majors are going slow on hiring due to clients cutting back spending and deferring projects due to macroeconomic challenges.

Last week, Rockwell, which has products that are deployed in a range of manufacturing sectors including tyremaking machines and vaccine production lines, said it would open a factory in the city of Chennai in Tamil Nadu.

Rockwell has plans to open more factories in India, which is benefiting from global manufacturers vying to expand their production footprint beyond China.

"We see (the Chennai plant) as a start of a manufacturing campus strategy ... We're looking for the opportunity to build more manufacturing capacity and move more products to India," Woolridge said.

(Reporting by Praveen Paramasivam; Editing by Krishna Chandra Eluri)

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BENGALURU, May 3 (Reuters) - India's MRF MRF.NS reported a surprise drop in its fourth-quarter profit on Friday, as the tyre maker faced pressure from a spike in rubber prices.

WHY IT'S IMPORTANT

Ancilliary companies benefit from higher automobile sales and production, as they provide parts for the vehicles. Sales of overall vehicles in India in the fourth quarter rose more than 20% year-on-year and production climbed more than 21%, as per industry data.

Prices of rubber rose roughly 10%, as per analysts, responding to higher crude oil prices.

Rubber is a key raw material for tyre makers, and often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil.

MRF's rival CEAT CEAT.NS also posted a surprise drop in profit on Thursday.

BY THE NUMBERS

MRF's standalone profit from continuing operations fell 7.6% year-on-year to 3.80 billion rupees ($45.6 million) in the three months ended March 31.

Analysts, on average, expected profit to climb to 5.05 billion rupees, as per LSEG data.

Its revenue from operations rose 8.6% to 62.15 billion rupees, while expenses climbed 9.5% to 57.99 billion rupees due to a 7% surge in raw material costs.

MARKET REACTION

Shares of MRF fell as much as 4.5% to 127,850 rupees. The stock was down nearly 3% prior to the results.

Shares of CEAT were down about 10% earlier in the day.

GRAPHIC

(Figures in percentage)

($1 = 83.4150 Indian rupees)

(Reporting by Varun Hebbalalu in Bengaluru; Editing by Sherry Jacob-Phillips)

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Feb 9 (Reuters) - MRF Ltd MRF.NS:

• MRF Q3 PROFIT FROM CONTINUING OPERATIONS 5.08 BILLION RUPEES

• MRF Q3 REVENUE FROM OPERATIONS 60.48 BILLION RUPEES

• MRF YEAR AGO Q3 PROFIT 1.69 BILLION RUPEES; REVENUE 55.35 BILLION RUPEES

• MRF LTD - DIVIDEND 3 RUPEES PER SHARE

Source text for Eikon: [ID:]

Further company coverage: MRF.NS

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Jan 31 (Reuters) - MRF Ltd MRF.NS:

• CO DIRECTED TO PAY ENVIRONMENTAL COMPENSATION OF 1.3 MILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: MRF.NS

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Jan 3 (Reuters) - MRF Ltd MRF.NS:

• ENTERED INTO A CAPTIVE POWER PURCHASE AGREEMENT WITH FIRST ENERGY 8

• WILL BE ACQUIRING UPTO 27.2% OF PAID UP EQUITY OF FIRST ENERGY 8

• COST OF ACQUISITION AT 358.7 MILLION RUPEES

• ENTERED INTO CAPTIVE POWER PURCHASE AGREEMENT FOR PURCHASE OF WIND POWER UNDER CAPTIVE POWER POLICY OF GOVERNMENT

Source text for Eikon: ID:nBSE2vkB3J

Further company coverage: MRF.NS

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Nov 30 (Reuters) - MRF Ltd MRF.NS:

• ENTERED INTO A CAPTIVE POWER PURCHASE AGREEMENT WITH FIRST ENERGY 5

• AGREEMENT FOR PURCHASE OF WIND POWER UNDER CAPTIVE POWER POLICY OF GOVERNMENT

• IN THIS CONNECTION WILL ACQUIRE UPTO 11.95% OF PAID UP EQUITY OF COMPANY

• COST OF ACQUISITION 113.5 MILLION RUPEES

Further company coverage: MRF.NS

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Nov 10 (Reuters) - MRF Ltd MRF.NS:

• ENTERED INTO AGREEMENT WITH FIRST ENERGY 6 FOR PURCHASE OF SOLAR POWER

• WILL ACQUIRE UPTO 11.57% OF PAID UP EQUITY OF FIRST ENERGY 6

• FIRST ENERGY 6 DEAL FOR 51.7 MILLION RUPEES

Source text for Eikon: ID:nBSEK6163

Further company coverage: MRF.NS

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BENGALURU, Nov 3 (Reuters) - India's MRF MRF.NS reported quarterly profit broadly in line with expectations on Friday, as the tyremaker benefited from softer raw material prices and steady demand for commercial vehicles.

Standalone profit from continuous operations jumped over fourfold to 5.72 billion rupees ($68.71 million) for the quarter ended Sept. 30, while analysts, on average, expected a profit of 5.71 billion rupees, according to LSEG data.

Steady demand for replacement tyres, and for commercial and passenger vehicles will drive up India's tyre volumes in the current fiscal year, analysts at Crisil Ratings had said in September.

Analysts expected price hikes and premiumisation to help revenue growth in auto and auto ancillary firms in the second quarter despite the delay in the festive season.

A dealers body said last month that India's retail vehicle sales rose 20% in September and forecast a strong festive season, with easing monsoon worries and higher rural demand helping sentiment.

MRF's cost of materials consumed fell 9.7% to 37.15 billion rupees in the quarter, while total expenses also dipped 4.4%.

The Chennai-based company's revenue from operations grew 6.4% to 60.88 billion rupees in the quarter.

Rivals CEAT CEAT.NS and Goodyear India GDYR.NS also reported a rise in their quarterly profits on lower input costs.

MRF shares, which have gained nearly 23% in market value so far this year, fell 2.3% after the results.

($1 = 83.2520 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Eileen Soreng)

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** Shares of MRF MRF.NS rise as much as 3.31% to a record high of 105,989 rupees

** The tyre manufacturer reported a more than five-fold jump in June-qtr profit from cont. ops to 5.81 billion rupees while rev from ops rose 12.9% YoY

** Co also approved re-appointment of K M Mammen as managing director

** Share price above 50-day, 100-day and 200-day exponential moving averages since April 27, suggesting bullish trend

** More than 11,000 shares change hands by 1 p.m. IST, 2.3x 30-day avg

** Other tyre companies, Goodyear India GDYR.NS and CEAT CEAT.NS too have reported rise in their qtrly profit on the falling rubber prices

** Avg rating of 10 analysts equivalent to "sell", median PT is 79,200 rupees - Refinitiv data

** Including session's gain, stock up 19.1% YTD

(Reporting by Ashish Chandra in Bengaluru)

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BENGALURU, Aug 2 (Reuters) - Tyre manufacturer Goodyear India GDYR.NS reported a higher quarterly profit as a drop in raw material prices helped make up for its first revenue fall in 12 quarters on low demand.

The Indian unit of U.S.-based Goodyear Tire and Rubber Co GT.O said standalone profit rose 4% to 392.6 million rupees ($4.8 million) in the first quarter.

While revenue from operations fell about 12% to 7.2 billion rupees, that was more than offset by a roughly 13% drop in expenses due to lower raw material prices.

Rubber prices, a key raw material for the tyre industry, have fallen by about 20%-25% over the last year through May, according to HDFC Securities.

However, Goodyear's revenue was hurt by lower sales volumes due to subdued demand and index-based price reduction to vehicle makers, the company said.

The company sells tyres to both car and other passenger vehicle makers as well as to commercial vehicle makers, especially tractor makers, whose sales have suffered this quarter.

While automaker Maruti Suzuki India MRTI.NS reported strong sales, the likes of Mahindra and Mahindra MAHM.NS and Escorts Kubota ESCO.NS have reported a drop in tractor sales.

"While the current economic environment remains challenging, we expect the industry to bounce back, specially in the light of good monsoon which should help stimulate the rural demand", said Goodyear India Chairman and Managing Director Sandeep Mahajan.

The company's larger rival CEAT CEAT.NS, however, reported a near 16-fold jump in profit as rubber prices fell and demand for passenger vehicles climbed. MRF MRF.NS and JK Tyre JKIN.NS will report results later this week.

Goodyear India's shares ended the day nearly 3% lower, ahead of the results, but have gained 24.5% so far this year. CEAT's shares have surged nearly 50% in that period, while MRF has risen 16% and JK Tyre 38%.

Goodyear Tire and Rubber will report its quarterly results later in the day.

($1 = 82.5440 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Savio D'Souza)

(([email protected]; +91 7982114624;))

** Shares of MRF MRF.NS rise as much as 1.5% to a fresh all-time high of 100,439.95 rupees

** Stock above its 50-, 100-, and 200-day exponential moving averages since April 27, suggesting bullish bias

** Stock's Relative Strength Index climbs above 70 in early trade, indicating it is overbought

** Stock rose nearly 7% since MRF's Q4 earnings on May 3

** Trading volume at ~6,400 shares, just over 0.5x the 30-day avg

** Average rating of ten analysts at equivalent of 'sell'; median PT is 79,200 rupees - Refinitiv data

** Including session's gains, stock last up 13% so far this year

(Reporting by Biplob Kumar Das in Bengaluru)

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May 4 (Reuters) -

Indian tyremaker CEAT Ltd CEAT.NS reported a more-than-five-fold increase in its fourth-quarter profit on Thursday, aided by low raw material costs and strong domestic demand.

CEAT's consolidated net profit rose to 1.34 billion rupees ($16.40 million) in the three months ended March 31, from 252.5 million rupees a year ago.

Analysts, on average had expected a profit of 908.3 million rupees, according to Refinitiv IBES.

Indian car and bike makers have reported strong domestic growth, which, in turn, has boosted demand for tyre makers. They have also hiked prices that, analysts said, would boost margins.

The Mumbai-based CEAT's revenue rose about 11% to 28.75 billion rupees. Its total expenses rose 5% but the cost of materials consumed fell 6.1%.

That, and the price hikes, helped CEAT's earnings before interest, taxes, depreciation, and amortization (EBITDA) margin increase to 13.1% from 7.2% last year.

"On exports, we continue to face pressure as a result of global economic headwinds, largely spurred by the ongoing war and the currency devaluation," Vice Chairman Anant Goenka said in a statement.

However, while wholesale commercial and passenger vehicle sales growth moderated in April, analysts expect demand for replacement tyres would provide cushion to tyremakers including CEAT rivals MRF Ltd MRF.NS, Apollo Tyres Ltd APLO.NS and JK Tyre & Industries Ltd JKIN.NS in the coming quarters.

"We have begun to see some recovery in exports and the replacement market, especially in the commercial category. We are hopeful that the coming quarters will see a further uptick in growth," CEAT said.

Earlier this week, MRF Ltd MRF.NS said its fourth-quarter profit more than doubled.

CEAT's shares closed 1.07% higher. The company recommended a final dividend of 12 rupees per share.

($1 = 81.7320 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Janane Venkatraman)

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May 3 (Reuters) - MRF Ltd MRF.NS:

• INDIA'S MRF MARCH-QUARTER PROFIT FROM CONTINUING OPERATIONS 4.11 BILLION RUPEES VERSUS PROFIT 1.57 BILLION RUPEES

• MRF MARCH-QUARTER REVENUE FROM OPERATIONS 57.25 BILLION RUPEES VERSUS 52 BILLION RUPEES

• FINAL DIVIDEND OF 169 RUPEESPER SHARE

Source text for Eikon: ID:nBSE8mKTvL

Further company coverage: MRF.NS

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