MRF’s Production Constraints To Ease, Strong Demand: Anand Rathi
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Anand Rathi Report
We continue to remain positive regarding the outlook for MRF Ltd. as demand for truck and bus radial tyres, passenger car radials and two-wheelers have started to return.
We expect demand to continue in the following quarters, barring production issues. With operations normalising at MRF, we expect strong revenue growth in FY22.
The company’s Q3 FY21 revenue grew 14% YoY to Rs 45.6 billion while its margins expanded by a significant approximately 587 basis points YoY to 21%.
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