Sell MRF; target of Rs 92,000: Motilal Oswal
Mon, May 6, 2024 1:59 PM

Sell MRF; target of Rs 92,000: Motilal Oswal

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Motilal Oswal's research report on MRFMRF’s 4QFY24 result was weak as higher RM costs and operating expenses led to lower adjusted EBITDA margin of 16.2% (-100bp QoQ vs. est. 17%). A provision of INR463.6m, which was made in FY23, was recognized in 4Q along with the additional provision of INR981.4m for FY24 to cover EPR costs.

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