MRF Share Price on 6 May 2024
📈 MRF is currently the most expensive stock in the country. The company is expected to provide the highest dividend ever, despite the quarterly results for March not meeting expectations. However, due to significant selling pressure, the company’s shares fell by more than 4%. The company has announced a final dividend of ₹194 per share, which is 1940% of the face value of ₹10, including the March quarter results. Despite this, the dividend had little impact on the stock and a decline was observed.
📉 In the Bombay Stock Exchange, the company’s share was trading at ₹1,28,075.30, a decrease of 4.37%. During the trading session, the company’s share fell by 4.57% to ₹1,27,800.00. It touched a one-year low of ₹92,060.30 on May 4, 2023, and a record high of ₹1,51,283.40 on February 23, 2024. On Monday (May 6, 2024), the share was trading at ₹1,26,392, a decrease of 1.69%.
📊 The March quarter was not particularly good for MRF. In the final quarter of January-March 2024 for the financial year 2023-24, the company’s net profit decreased by 7.6% to ₹379.6 crore. During this period, the company’s EBITDA margin decreased from 14.7% to 14.3%. In the March 2024 quarter, the company recorded operating revenue of ₹6,215.1 crore, which is 8% higher year-on-year.
💰 In FY23, the company paid shareholders a final dividend of ₹169 and two interim dividends of ₹175 each.
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