MRF’s Q2 profit skids 27% as raw material costs squeeze margins

Chennai MRF Ltd reported a 26.6% year-on-year (YoY) decline in consolidated net profit to ₹386.99 crore for the second quarter ended September 30, 2026, as a sharp rise in raw material costs eroded margins despite robust revenue growth. Consolidated total income rose 17.4% to ₹8,791.58 crore during the quarter. However, profit before tax (PBT) fell 25.5% YoY to ₹521.81 crore.

Earnings per share declined to ₹912.46 from ₹1,243.60. The cost of materials consumed surged 43.1% YoY to ₹6,552.57 crore. Total expenses increased 21.8% YoY to ₹8,269.77 crore.

In its earnings statement, MRF said it had registered strong double-digit sales growth, supported by sustained demand from both original equipment (OE) and replacement segments.