This company delivered a 1,500 per cent dividend on its per share face value
The company’s board of directors has recommended a final dividend of Rs 144 per share of Rs 10 each. The company has already paid two interim dividends of Rs 3 each per share. The total dividend for the year, works out to Rs 150 per share of Rs 10 each.
Considering the financial performance of the company, MRF Ltd recorded net sales and other operating income of Rs 5,200.29 crore thereby, posting a growth of 9.76 per cent from Rs 4,737.68 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 592.44 crore in Q4FY22 as compared to an operating profit of Rs 802.10 crore in Q4FY21. Q4FY22 recorded a net profit of Rs 156.78 crore in comparison with the net profit of Rs 317.26 crore in the same quarter of the previous year, declining 50.58 per cent.
Considering the yearly performance, the net profit of MRF Ltd plunged 48.17 per cent to Rs 647.34 crore as against Rs 1,249.06 crore during the previous year, ending March 2021. On the other hand, net sales rose by 19.27 per cent to Rs 18,989.51 crore as against Rs 15,921.35 crore during the previous year ending March 2021.
Madras Rubber Factory (MRF) is the parent company of MRF Group. The company is the largest manufacturer of tyres in India and operates for the distribution & sale of tyres for various kinds of vehicles. It also manufactures rubber products including treads, tubes, conveyor belts, paints, and toys.
The company’s board of directors has recommended a final dividend of Rs 144 (1,440 per cent) per share of Rs 10 each. The company has already declared and paid two interim dividends of Rs 3 (30 per cent) each per share for the financial year ended March 31, 2022. The total dividend for the financial year ended March 31, 2022, works out to Rs 150 (1500 per cent) per share of Rs 10 each.
Despite a decline in the operating and net profit margins, the company wishes to make its investors happy. The outlook for MRF Ltd is bright as it is the largest player in the sector and has plenty of opportunities ahead.
Keep a close eye on this scrip for the upcoming sessions.