*MRF Ltd.* | *CMP* Rs. 78580 | *M Cap* Rs. 33327 Cr | *52 W H/L* 98539/66527
(Nirmal Bang Retail Research)
*Result below Expectation*
Revenue from Operations came at Rs. 4831.7 Cr (17.1% QoQ, 15.4% YoY) vs expectation of Rs. 4685.3 Cr, QoQ Rs. 4127.7 Cr, YoY Rs. 4186.4 Cr
EBIDTA came at Rs. 512.1 Cr (5.1% QoQ, -40.1% YoY) vs expectation of Rs. 612.3 Cr, QoQ Rs. 487.2 Cr, YoY Rs. 854.4 Cr
EBITDA Margin came at 10.6% vs expectation of 13.1%, QoQ 11.8%, YoY 20.4%
Adj. PAT came at Rs. 183.4 Cr vs expectation of Rs. 244.2 Cr, QoQ Rs. 161.3 Cr, YoY Rs. 403 Cr
Quarter EPS is Rs. 432.4
Share is trading at P/E of 21.6x FY23E EPS