Gold Silver Reports (GSR) – MRF Posts Highest Quarterly Profit Growth In Over Two Years, But Misses Estimates – The country’s largest tyremaker reported its highest profit growth in over two years, but falls short of estimates during January-march period.
Key Earnings highlights (Q4, YoY)
✅ Net Profit up 20 percent At Rs 345 crore.
✅ Revenue up 15.8 percent at Rs 3,865.4 crore.
✅ Ebitda up 31.2 percent at Rs 686 crore.
✅ Margin at 17.7 percent versus 15.7 percent
✅ Board approved the issue of up to Rs 500 crore of debentures.
Rashesh Shah, Chairman At Edelweiss Group
Key highlights from the conversation:
✅ Expect credit business to clock 25-30 percent growth.
✅ Asset and wealth management sectors can expect about 20 percent growth going ahead.
✅ Expect life insurance business to break even in the financila year ending March 2022.
✅ Credit in India has been doubling every four years.
✅ Growing ARC book at 20-25 percent per annum; trend to continue.
✅ Edelweiss is open to strategic partnerships for our businesses.
Not looking for a financial partner as internal fund accruals are sufficient.