MRF Q4 results FY26: Profit up 38%, dividend ₹229

What MRF reported for the March 2026 quarter

MRF Ltd reported a sharp improvement in consolidated earnings for the fourth quarter ended March 31, 2026, supported by higher sales. The tyre maker said consolidated net profit rose 38% to ₹702.25 crore in Q4 FY26. A year earlier, MRF had posted consolidated net profit of ₹510.5 crore, according to its regulatory filing. Revenue from operations also moved higher, pointing to stronger demand conditions during the quarter. The numbers were released on Thursday as part of the company’s quarterly results.

The company’s consolidated revenue from operations in Q4 FY26 came in at ₹8,044.22 crore. In the year-ago quarter, revenue from operations was ₹7,074.82 crore. The reported increase in revenue was a key driver of the profit growth, alongside operating performance measures mentioned in market coverage of the results. While net profit grew faster than revenue, expenses also rose meaningfully during the same period.

Revenue growth and the sales mix context

MRF’s Q4 FY26 revenue print of ₹8,044.22 crore compared with ₹7,074.82 crore a year ago signals a stronger exit quarter to the financial year. The Hindi report cited revenue growth of 13.7% to around ₹8,044 crore for the March 2026 quarter. That aligns with the consolidated revenue-from-operations figure disclosed in the regulatory filing. The coverage linked the improvement to demand conditions in the auto sector, without providing separate segment-wise numbers.

In earlier commentary included in the provided material, MRF has pointed to original equipment demand showing strong double-digit growth and exports performing well despite tariff issues, in the context of another quarter. But for the March 2026 quarter specifically, the filing-driven summary focused on consolidated revenue and profit, and did not provide an original equipment versus replacement versus export split in the excerpt.

Costs rose, but profitability still improved

MRF disclosed that total expenses increased to ₹7,267.51 crore in Q4 FY26. In the same quarter a year ago, total expenses were ₹6,531.04 crore. The higher expense base indicates that input costs and operating costs were elevated in absolute terms, even as the company delivered higher profits.

The Hindi report also highlighted operating profitability, stating EBITDA rose 21.5% to ₹1,305 crore in the March 2026 quarter. It added that EBITDA margin improved to 16.2% from 15.2%. Taken together, the expense increase and the margin improvement suggest that MRF was able to translate higher revenue into stronger operating performance during the quarter, as reported.

Dividend: ₹229 final, ₹235 total for FY26 (as reported)

MRF said its board recommended a final dividend of ₹229 per share of face value ₹10 each. The company noted this is subject to shareholder approval at the ensuing annual general meeting. Beyond the final dividend, the Hindi report said MRF approved a total dividend of ₹235 per share for FY2026.

That ₹235 per share total, as described, includes the final dividend of ₹229 per share and two interim dividends of ₹3 per share each that were already paid. The same report also said the record date for the dividend had not been announced at the time of writing. Investors typically track the record date to understand eligibility, but the coverage explicitly stated the date was not yet clear.

Full-year FY26 performance: profit and revenue both higher

For the full financial year FY26, MRF reported consolidated net profit of ₹2,426.1 crore. This compared with ₹1,873.29 crore in FY25. The year-on-year increase indicates that the stronger Q4 was part of a broader full-year improvement in earnings.

On the top line, consolidated revenue from operations for FY26 stood at ₹31,149.01 crore, versus ₹28,153 crore in the preceding financial year. The revenue growth, along with the full-year profit rise, provides the context for the company’s dividend recommendation and the market reaction captured in same-day trading updates.

Stock reaction: gains on the day, but below the record high

The Hindi report said MRF shares rose about 1.3% to ₹1,31,865 after the Q4 results and dividend announcement. It also noted the stock was still about 20% below its record high of ₹1,63,600. Another market update in the same material said the stock on NSE was up 0.96%, or ₹1,255, at ₹1,31,590.

These figures reflect intraday reporting at different points in time, but both indicate a positive move following the earnings and dividend headlines. The focus for many investors in such cases is the combination of profit growth and the magnitude of the dividend per share, especially for a high-priced stock.

Key numbers at a glance

Why the results matter for investors

The March quarter numbers matter because they show MRF ending FY26 with higher revenue and higher profitability, while also carrying a larger expense base. A 38% rise in Q4 net profit to ₹702.25 crore, coupled with revenue growth to ₹8,044.22 crore, is a clear signal of operating strength in the period covered.

The dividend recommendation is also central to the market narrative. The board’s proposed final dividend of ₹229 per share, and the reported total dividend of ₹235 per share for FY26 including interim payouts, provide a tangible shareholder return measure. At the same time, the company’s statement that the final dividend is subject to shareholder approval frames it as a recommendation rather than a completed payment.

Conclusion

MRF’s Q4 FY26 results showed higher consolidated revenue and a sharp rise in net profit, alongside higher expenses and an improvement in reported operating metrics such as EBITDA and margin. The company also recommended a final dividend of ₹229 per share, with total FY26 dividend reported at ₹235 per share including interim payouts. Next, investors will track the annual general meeting for shareholder approval of the final dividend and any subsequent announcement of the record date.