MRF Q4 Results PAT Jumps 38 Percent to Rs 702 Crore Revenue Rises 14 Percent Rs 229 Dividend
- May 8, 2026
- Posted by: Kashish Aggarwal
- Category: News
MRF Q4 results for FY26 announced on 7 May 2026 delivered a strong performance with consolidated net profit rising 37.56% year on year to Rs 702.25 crore. The MRF Q4 revenue from operations grew 13.70% year on year to Rs 8,044.22 crore, reflecting sustained demand across the passenger vehicle, two-wheeler, truck, and off-highway tyre segments. The board approved a final dividend of Rs 229 per share for FY26, reflecting MRF’s commitment to shareholder value.
Investors tracking MRF Q4 results FY26 will note that the company’s premium brand positioning, extensive distribution network, and strong aftermarket presence continue to generate superior margins compared to tyre industry peers. The MRF Q4 performance benefits from raw material cost moderation, particularly natural rubber and carbon black, which has allowed meaningful margin expansion alongside revenue growth.
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MRF Q4 FY26 Results at a Glance
| Metric | Q4 FY26 / FY26 | Change |
|---|---|---|
| Q4 Revenue | Rs 8,044.22 crore | +13.70% YoY |
| Q4 Consolidated PAT | Rs 702.25 crore | +37.56% YoY |
| Q4 FY25 PAT (comparison) | Rs 510.5 crore | Base period |
| Final Dividend | Rs 229 per share | FY26 payout |
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Key Highlights from MRF Q4 FY26
Revenue Growth Across Tyre Segments
The MRF Q4 revenue growth of 13.70% to Rs 8,044.22 crore reflects broad-based demand across passenger vehicle replacement tyres, two-wheeler tyres, truck and bus radial tyres, and specialty off-highway tyres. The MRF Q4 results benefit from India’s rising vehicle parc and increasing tyre replacement frequency as road infrastructure improves and vehicle utilisation increases.
Margin Expansion on Raw Material Tailwind
The MRF Q4 PAT growth of 37.56% significantly outpaced revenue growth of 13.70%, reflecting margin expansion driven by moderation in natural rubber, synthetic rubber, and carbon black costs. The MRF Q4 operating efficiency and premium brand positioning allow the company to maintain higher net realisations while input costs have eased, creating a double benefit of volume growth and margin improvement.
Rs 229 Dividend Reflects Premium Valuation
The MRF Q4 board approval of a Rs 229 final dividend per share maintains the company’s reputation for substantial absolute dividend payments that reflect its high per-share earnings. While the MRF Q4 dividend yield may appear low relative to the share price, the absolute dividend quantum underscores the company’s consistent capital return to long-term shareholders.
Risks to Monitor
- Natural rubber price volatility: Any sharp increase in natural rubber prices, driven by weather events or supply disruptions in Thailand and Malaysia, could compress MRF Q4 margins significantly.
- Competition from Bridgestone, Michelin, and others: International tyre brands compete in the premium segment where MRF Q4 earns its highest margins, creating pricing pressure.
- EV tyre transition: As electric vehicles grow in India, the different tyre specifications required for EVs could benefit players who invest early, but could also disrupt current supply relationships.
- Petroleum-based input volatility: Synthetic rubber, carbon black, and other petroleum-derived inputs contribute to MRF Q4 cost structure and are exposed to crude oil price changes.
Conclusion
The MRF Q4 results FY26 confirm India’s premier tyre manufacturer delivering an excellent quarter with PAT up 37.56% to Rs 702.25 crore and revenue up 13.70% to Rs 8,044.22 crore. The MRF Q4 dividend of Rs 229 per share rewards long-term shareholders in line with the company’s consistent capital return policy.
For FY27, the most important variable for MRF Q4 investors is whether natural rubber costs remain benign, enabling continued margin expansion alongside volume growth from rising vehicle production and the expanding India vehicle parc driving replacement demand.
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Disclaimer: This article is for educational and informational purposes only and does not constitute investment advice. Univest analysts are SEBI-registered research analysts (SEBI RA: INH000012449). Investments in the securities market are subject to market risk. Consult a SEBI-registered financial advisor before making any investment decisions.
Frequently Asked Questions
What was the MRF Q4 FY26 PAT?
MRF Q4 FY26 consolidated net profit was Rs 702.25 crore, up 37.56% year on year from Rs 510.5 crore in Q4 FY25, driven by revenue growth and margin expansion from raw material cost moderation.
What is the MRF Q4 FY26 revenue?
MRF Q4 FY26 revenue from operations was Rs 8,044.22 crore, up 13.70% year on year, reflecting broad-based tyre demand across passenger vehicles, two-wheelers, and commercial vehicles.
What dividend did MRF declare for FY26?
The MRF Q4 FY26 board approved a final dividend of Rs 229 per equity share for FY26, in line with the company’s consistent practice of paying substantial dividends reflective of its high per-share earnings profile.
Why did MRF Q4 PAT grow faster than revenue?
MRF Q4 PAT grew 37.56% versus revenue growth of 13.70% due to margin expansion from moderation in natural rubber, synthetic rubber, and carbon black input costs, combined with operating leverage and premium brand pricing power.
What is MRF’s market position in Indian tyres?
MRF Q4 is India’s largest tyre manufacturer by revenue and brand equity, commanding premium pricing across passenger vehicle, two-wheeler, truck, and specialty tyre segments through its extensive nationwide distribution and strong aftermarket presence.
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