MRF Quarterly Results Q2- FY2023
- MRF on one side has reported deterioration in their margins while the CEAT has reported improvement in their margins.
- Margins have fallen by 230 bps i.e. 8.2% from 10.5% YoY
- Raw material costs have increased by 2-3%
- Gross margins have fallen by 580 bps on a YoY basis
These are not great results and management not giving the rationale is quite frustrating.
*Invested though planning to exit at the right price.
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