MRF said on Wednesday that its consolidated profit after tax (PAT) for the fourth quarter ended March 2023 was ₹313.53 crore, which is a rise of 86% year-on-year (YoY) from the net profit of ₹168.53 crore achieved in the same quarter of FY22. Its consolidated revenue from operations in the fourth quarter of FY23 was ₹5,841.7 crore, which is a rise of 10.12% YoY from ₹5,304.8 crore in the fourth quarter of FY22.
The company’s net expenses stood at ₹5,410.26 Cr during Q4FY23 as against ₹5,142.79 Cr during Q4FY22. The EPS of MRF reached ₹803.26 during the quarter under review as compared to ₹389.55 recorded during the year-ago quarter.
“The Board of Directors have recommended a final dividend of ₹169/- (1690%) per share of Rs.10 each. The Company has already declared and paid two interim dividends of Rs.3/-(30%) each per share for the financial year ended 31st March,2023. The total dividend for the financial year ended 31st March 2023 works out to Rs. 175 (1750%) per share of Rs.10 each,” said MRF in a stock exchange filing today.
MRF has announced an equity dividend of 1500.00% at a face value of ₹10 or ₹150 per share for the fiscal year ended March 2022 or Q4FY22. The dividend yield at the current share price of ₹91,333 is 0.16%. The company has a solid track record of dividend declarations during the past five years. MRF Ltd. has issued 70 dividends since August 2, 2000, according to data from Trendlyne.
“During the quarter, the Company has allotted 15,000 listed, unsecured, rated, redeemable, taxable, non-convertible debentures aggregating to Rs. 150 Crores on a private placement basis,” said the Board of Directors of MRF in a stock exchange filing.
For the recently issued Non-Convertible Debentures (NCDs), the Company's rating agency, CARE, has awarded its rating of "CARE AAA": The ratings of "CARE AAA" for long-term banking services and "CARE A 1+" for short-term banking facilities have both been reaffirmed by CARE.
While writing this copy, the shares of MRF were trading on the NSE at ₹91,333.10 higher by 3.09%.
