MRF Q4 Review - Beat Led By Strong Revenue Growth: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.MRF Ltd.’s Q4 FY22 revenue grew 10% YoY and 8% QoQ to Rs 52 billion, while Ebitda/adjusted profit after tax fell 29%/51% to Rs 5.3b/Rs 1.57 billion in Q4 FY22. Revenue grew 19% YoY, whereas Ebitda/profit after tax fell 30%/48% in FY22. MRF's revenue growth in Q4 FY22 was a tad weaker than Ceat Ltd. (13% YoY).Gross margin fell 130 basis points QoQ (6.4% YoY) to 32.1% (estimate: 32.4%). The decline in gross margin for Ceat was a less steep on a QoQ basis (Ceat: down 50 bps QoQ and down 8.5% YoY) due to commodity cost inflation. Ebitda fell by 29% YoY (up 9% QoQ) to Rs 5.3b (estimate: Rs 4.7 billion).Ebitda margin declined by 5.6% YoY (flat QoQ) to 10.1% (estimate: 9.5%) due to raw material costs, which were offset by operating leverage..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

MRF Q4 Review - Beat Led By Strong Revenue Growth: Motilal Oswal

MRF Q4 Review - Beat Led By Strong Revenue Growth: Motilal Oswal

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