MRF = RESULTS = 2ND QTR ENDING MARCH 2011 = NO IMPROVEMENT QOQ

MRF Limited

NSE Symbol     MRF

MRF is always the star performer among Type companies. Its results for  Q/e march 2011 reflect the same, even though, tyre industry is subject to the effects of high fluctuations in Rubber prices.

Net Sales   has increased to Rs.2381.56 Cr  in 2nd Qtr / E March 2011 – compared to Rs.2165. 80 Cr in preceding Qtr  ending Dec,2010 and Rs.      1767.58 Cr in corresponding  Q/e March 2010.      

Total Expenditure        has also increased to Rs.2251.61 cr in q/e March 2011 mainly on account of Raw Material cost increases – against Rs.1999.87 cr in previous qtr and Rs.1619.72 cr in Corresponding qtr.

Profit from Operations is therefore down at Rs.132.18 cr – against Rs.166.66 cr in previous Qtr and Rs.153.99 cr in corresponding qtr.

Profit  before tax is also down at Rs.126.24 cr – against Rs.150.49 cr in Previous qtr and Rs.142.58 cr in Corresponding qtr.

Net Profit is Rs.89.85 cr in Q/e March 2011 – against Rs.102.18 cr in previous qtr and Rs.95.82 cr in corresponding qtr.

Against a Face Value of Rs.10 – MRF’s Basic EPS in Q/e March 2011 is Rs.211.85 – against Rs.240.02 in previous qtr and Rs.225.94 in corresponding qtr.

This is against a Low base of equity of Rs.4.24 cr only, which is helping MRF score excellent profits Quarter  after Quarter AND DECLARE GOOD DIVIDENDS for its equity share holders.

ANNOUNCEMENT TO NSE :

25-11-2010 Board of Director of the Company at its meeting held on November 25, 2010 has recommended a Final Dividend of Rs 19/- per share and a Special Dividend of Rs 25/- per share which along with the two interim dividends of Rs.3/- each already paid works out to Rs 50/- per equity share of Rs. 10/- (i.e. 500%) for the year ended September 30, 2010.

RESULTS TABLE :

M R F	31-Mar-11	31-Dec-10	31-Mar-10
Net Sales	238156	216580	176758
Other Operating Income	223	73	613
Increase in SIT / WIP	-10030	-5349	-2360
Raw Materials	181458	155288	119709
Traded Goods	876	992	168
Employees Cost	10755	10006	9166
Depreciation	8711	7575	5533
Other Expenditure	33391	31475	29756
Total Expenditure	225161	199987	161972
Profit from Operations	13218	16666	15399
Other Income	1561	475	366
Interest	2155	2092	1507
Profit  before tax	12624	15049	14258
Tax expense	3639	4831	4676
Net Profit	8985	10218	9582
Face Value (In Rs	10	10	10
Paid Up Equity	424	424	424
Basic EPS	211.85	240.02	225.94
Public holding (%)	73.24	73.26	73.29

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