MRF Share Price Today Live Update

How were the results of MRF?

This quarter has been good for MRF in terms of income, but its profits and margins have declined. The company's profit has come down from 581 crores to 563 crores (YoY). The company's income has increased from 6,323 crores to 7,078 crores (YoY). The company's operating profit has increased from 1114 crores to 1138 crores. During April-June 2024, the company's other income increased by 13% to Rs 84.04 crore as against Rs 74.69 crore in the same period last year.

During the first quarter, the company's total expenditure increased by 14% year-on-year to Rs 6,517.6 crore. In the same quarter last year, this figure was at Rs 5727.92 crore. However, the company's margin has declined. The margin was 17.6% in the previous quarter, which has declined to 16.1% on year-on-year basis.

MRF Share Price: Tyre giant MRF Ltd. on Thursday (August 8) announced its April-June quarter results. The company's revenue has increased. After the results, the company's stock witnessed a huge surge. The stock rose 5% and reached an intraday high of Rs 1,42,285. Yesterday the stock closed at Rs 1,34,661. This means that investors who own this stock have made a profit of Rs 6,900 on each share.

MRF earns Rs 571 crore profit in first quarter

India's tyre manufacturing company MRF i.e. Madras Rubber Factory has made a profit of Rs 571 crore in the first quarter of the financial year 2024-25. It has decreased by 3% on an annual basis. It was Rs 588.75 crore in the same quarter a year ago i.e. Q1FY24.

Talking about the consolidated revenue (earnings) from the company's operations, it stood at Rs 7,196.45 crore in the April-June quarter. It has increased by 11.74% on an annual basis. In the same quarter a year ago, the company had generated a revenue of Rs 6,440.29 crore.

MRF stock rises by ₹6,325 after results

After the results, MRF stock is seeing a rise of 4.70% or Rs 6325.20 today (8 August) at 1:37 pm. The company's stock has given a positive return of 9.03% in the last one month and 30.44% in one year. Whereas it has fallen by 1.46% in 6 months. MRF stock has given a return of 8.48% this year. The company's market cap is around Rs 60 thousand crores.

MRF share reached 1.5 lakh in January

MRF shares created history in January. MRF stock crossed the record figure 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 of Rs 1,50,254.16 and a 52-week high during the trading session. However, it closed at Rs 1,34,600.05 with a decline of 1.46%. Its share opened at Rs 1,35,870 at the beginning of the trading session.

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 (share) touched the figure of Rs 25,000. Then it reached Rs 50,000 in 2016.

In the year 2018, MRF's share crossed the level of 75,000 and in June 2022, the share of MRF crossed the level of 1 lakh. At the same time, the stock of MRF has also crossed the figure of Rs 1.5 lakh.

Why is MRF's stock so expensive?

The reason behind this is that the company never splits its shares. According to reports, MRF has never split its shares since 1975. At the same time, MRF 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 market of the tire industry in India is more than Rs 60,000 crore. JK Tyre and 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

1. The full name of Chennai based MRF company is Madras Rubber Factory. This company started in 1946 by making toy balloons. After 1960, the company started making tyres. Now this company is the largest manufacturer of tyres in India.
2. K.M. Mammen Mappillai is the founder of MRF. He used to sell balloons earlier. Born in a Christian family in Kerala, Mappillai's father was a freedom fighter. He was arrested during the freedom struggle.
3. After his father went to jail, the entire responsibility of the house fell on Mappillai's shoulders, he had 8 siblings. To run the family, he started selling balloons on the streets. After selling balloons for 6 years, in 1946 he decided to do rubber business.
4. Mappillai then started making toys for children. By 1956, his company had become a big company in the rubber business. Gradually, his inclination grew towards the tyre industry.
5. In 1960, he formed a private limited company of rubber and tyres. Later, to expand the business, he signed an agreement with America's Mansfield Tire and Rubber Company.
6. By 1979, the company's business had spread across the country and abroad. After this, American company Mansfield sold its stake in MRF and the company was named MRF Limited.
7. MRF became number-1 in sectors like Racing Formula 1, Formula Car, MRF Motocross. Most of the manufacturing units of this company, which does business in India and abroad, are in Kerala, Puducherry, Goa and Tamil Nadu.
8. MRF company manufactures tyres, treads, tubes, conveyor belts, paints, toys as well as sports goods. In 2007, the company crossed the turnover of 1 billion dollars.