MRF, a Tyre manufacturer in India, has achieved a
significant milestone in the Indian stock market. It has become the first
company in India to have its share price reach Rs 1 lakh. On June 13, 2023, the
share price rose by 1.5% in early trading, hitting a high of Rs 1,00,439.95 per
share.
This is an impressive feat for MRF, as it is now considered
the most expensive stock in India. The stock has been on an upward trend for
the past three trading sessions, gaining 3.5% during this period.
So far this year, MRF's shares have grown by 13%, and over
the past year, they have seen a remarkable increase of 45.92%.
MRF recently released its earnings report for the quarter
ending March 31, 2023. The company showed strong performance, with a net profit
increase of 161.6% compared to the previous year and 142.7% sequentially,
amounting to Rs 410.66 crore. The revenue from operations also rose by 10.1%
YoY, reaching Rs 5,725.39 crore during the period.
The company's profit margin expanded significantly to 14.7%
in the fourth quarter of FY23, up from 10.2% the previous year. Additionally,
the EBITDA (earnings before interest, taxes, depreciation, and amortization)
jumped by 60% YoY to Rs 843.1 crore.
Overall, MRF's strong financial performance, combined with its rising stock price, has made it a noteworthy player in the Indian stock market.
MRF Performance over years:
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