MRF Q4 FY26 Results: Net Profit Rises 38% to ₹702 Crore, Revenue Crosses ₹8,000 Crore
MRF posts 38% jump in Q4 net profit to ₹702 crore as revenue crosses ₹8,000 crore, with operating cash flow more than doubling in FY26.
MRF Limited reported a 37.6% jump in consolidated net profit to ₹702.25 crore in Q4 FY26, with revenue from operations rising 13.7% to ₹8,044 crore. For the full year FY26, consolidated revenue stood at ₹31,149 crore and net profit at ₹2,426 crore. The company declared a final dividend of ₹229 per share, taking the total FY26 dividend to ₹235 per share.
MRF Limited delivered a strong set of numbers in the fourth quarter of FY26, reporting healthy growth in both revenue and profitability. The company's consolidated net profit rose 37.6% year-on-year to ₹702.25 crore in Q4 FY26, compared to ₹510.50 crore in the same quarter last year.
Consolidated revenue from operations climbed to ₹8,044.22 crore from ₹7,074.82 crore a year ago, reflecting solid business momentum and stable operational performance. MRF also announced a final dividend of ₹229 per share for FY26. Including the interim dividend of ₹6 per share declared earlier in the year, the total dividend payout for FY26 stands at ₹235 per share.
Revenue Growth Continues to Stay Strong
MRF saw double-digit revenue growth during the January–March quarter, helped by steady demand and improved realisations across segments. The company's total consolidated income rose to ₹8,183.28 crore in Q4 FY26 from ₹7,190.16 crore in Q4 FY25.
| Particulars | Q4 FY26 | Q4 FY25 |
|---|---|---|
| Revenue from Operations | ₹8,044.22 crore | ₹7,074.82 crore |
| Total Income | ₹8,183.28 crore | ₹7,190.16 crore |
| Profit Before Tax | ₹929.73 crore | ₹659.12 crore |
| Net Profit | ₹702.25 crore | ₹510.50 crore |
| Earnings Per Share (EPS) | ₹1,655.80 | ₹1,203.68 |
Source: NSE filing, MRF Q4 FY26 Consolidated Results
On a standalone basis, the company also reported solid growth. Standalone revenue from operations increased to ₹7,908.43 crore, while standalone net profit rose to ₹680.44 crore during the quarter.
Reacting to the earnings release, the stock rose up to 2.12% as of 12:46 PM on May 7, 2026. However, it later gave up some gains and was trading 0.13% higher by mid-afternoon.
Better Margins Helped Profitability
One of the key positives in MRF's Q4 results was the improvement in margins. While expenses increased due to higher production activity and material costs, revenue growth remained stronger, helping profitability improve significantly.
Total consolidated expenses for the quarter stood at ₹7,267.51 crore, compared to ₹6,531.04 crore in the year-ago period.
| Expense Head | Q4 FY26 | Q4 FY25 |
|---|---|---|
| Cost of Materials Consumed | ₹4,994.25 crore | ₹4,720.48 crore |
| Employee Benefits Expense | ₹550.83 crore | ₹470.86 crore |
| Finance Costs | ₹86.33 crore | ₹97.93 crore |
| Depreciation & Amortisation | ₹441.71 crore | ₹432.75 crore |
| Other Expenses | ₹1,264.30 crore | ₹1,046.07 crore |
| Total Expenses | ₹7,267.51 crore | ₹6,531.04 crore |
Note: Table shows selected major expense heads. Total includes all line items per audited financials, including changes in inventories of finished goods and WIP.
Finance costs declined year-on-year, which also supported the company's bottom line. Profit before tax rose sharply to ₹929.73 crore from ₹659.12 crore in Q4 FY25, a jump of over 41%. The company also reported earnings per share (EPS) of ₹1,655.80 for the quarter, compared to ₹1,203.68 a year earlier.
Full-Year FY26 Performance Remained Strong
For the full financial year ended March 31, 2026, MRF reported consolidated revenue from operations of ₹31,149.01 crore, up from ₹28,153.18 crore in FY25. Consolidated net profit for the year rose to ₹2,426.10 crore from ₹1,873.29 crore last year.
| Particulars | FY26 | FY25 | YoY Change |
|---|---|---|---|
| Consolidated Revenue | ₹31,149.01 crore | ₹28,153.18 crore | +10.6% |
| Consolidated Net Profit | ₹2,426.10 crore | ₹1,873.29 crore | +29.5% |
| Operating Cash Flow | ₹4,590.30 crore | ₹1,864.76 crore | +146.2% |
Source: NSE filing, MRF FY26 Consolidated Annual Results
A standout highlight was the sharp improvement in operating cash flow. Net cash generated from operating activities rose to ₹4,590.30 crore in FY26, more than double the ₹1,864.76 crore recorded in FY25. This indicates stronger operational efficiency and improved cash generation during the year.
MRF continued investing in capacity expansion, with capital expenditure on property, plant and equipment amounting to ₹1,434.25 crore during FY26.
Overall, MRF's Q4 FY26 results reflect consistent growth in revenue, profitability, and cash generation. Improved margins despite rising operating expenses, combined with a strong final dividend, make this a solid quarter for the company's shareholders.