Higher input costs drag MRF Q2 net profit down 23%
MRF Tyres moved higher in a quarterly results development.
· ET Stocks, Economic Times Markets
Tyre maker MRF Ltd reported a 22.8% decline in net profit for the July-September quarter. Revenue from operations saw a growth of 17.4%, reaching Rs 8,660.19 crore compared to the previous year. However, total expenses also rose significantly, driven by sharp increases in raw material costs. The company announced an interim dividend of Rs 3 per share to its shareholders.
The analysis
MRF Tyres reported Rs 8,660.19 crore and Rs 3, with movement of 23%, 22.8% and 17.4% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +0.7% on the day at ₹1,25,955.00, and has returned -6.8% over three months. It sits 20% below its 52-week high. The auto sector has moved -6.0% over the same period, so MRF Tyres is running 0.8 points behind its peers.
For MRF Tyres, the question is how much of this is already reflected in the price and how much re-rates the auto peer set alongside it.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
- Buybacks, dividends and splits change what a shareholder actually receives, and often signal how management reads its own value.
Market context
- In focus: MRF Tyres (MRF), in Auto.
- Over three months: MRF Tyres -6.8% against Auto -6.0% (0.8 points behind).
- Trading well above normal today: MRF Tyres at 2.2 times its 20-day average volume.
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| MRF TyresMRF · Auto | ₹1,25,955.00 | +0.7% | +2.5% | -6.8% | -20.4% | 2.2× | — |
Auto
1M +6.6% · 3M -6.0%
MRF Tyres
Prices as of 11 Nov 2026, 10:52 IST. Sector moves are the average of the stocks we track in each sector.
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