MRF Limited held its Board of Directors meeting on 7 May 2026, approving the audited standalone and consolidated financial results for the year ended 31 March 2026. The board also recommended a final dividend, effected key managerial changes, and approved the re-appointment of joint statutory auditors. The meeting commenced at 11:00 a.m. and concluded at 12:30 p.m.

Standalone Financial Performance

MRF's standalone financials for FY26 reflect a strong year-on-year improvement across key metrics. Revenue from operations rose to Rs 30,652.08 crores from Rs 27,665.22 crores in the previous year, while total income stood at Rs 31,140.25 crores against Rs 28,068.08 crores. Net profit for the year from continuing operations came in at Rs 2,355.40 crores, up from Rs 1,822.55 crores. The following table presents the key standalone financial highlights:

On a quarterly basis, standalone revenue from operations for Q4 FY26 stood at Rs 7,908.43 crores, compared to Rs 6,943.84 crores in Q4 FY25. Net profit for the quarter was Rs 680.44 crores versus Rs 497.85 crores in the year-ago period.

Standalone Balance Sheet and Cash Flow Highlights

MRF's standalone total assets as at 31 March 2026 stood at Rs 31,296.46 crores, compared to Rs 29,096.10 crores as at 31 March 2025. Total equity increased to Rs 20,451.95 crores from Rs 18,175.87 crores. On the cash flow front, net cash from operating activities for the year was Rs 4,638.95 crores against Rs 2,638.69 crores in the previous year. Net cash used in investing activities was Rs 3,368.89 crores, while net cash from financing activities was Rs (1,249.78) crores. The closing balance of cash and cash equivalents stood at Rs 260.84 crores versus Rs 243.61 crores at the start of the year.

Consolidated Financial Performance

On a consolidated basis, MRF reported revenue from operations of Rs 31,149.01 crores for FY26, up from Rs 28,153.00 crores in FY25. Consolidated net profit from continuing operations rose to Rs 2,426.10 crores from Rs 1,873.29 crores. The consolidated results include the financial results of subsidiaries — MRF Corp Limited, MRF Lanka (Private) Limited, MRF SG PTE Ltd, MRF DB-FZCO, MRF International Limited, and MRF Foundation (A Trust).

Q4 Consolidated Key Metrics

For Q4 FY26, consolidated revenue from operations stood at Rs 8,044.22 crores versus Rs 7,074.82 crores in Q4 FY25. Consolidated net profit from continuing operations for Q4 was Rs 702.25 crores compared to Rs 510.50 crores in the year-ago quarter.

Consolidated Balance Sheet and Cash Flow Highlights

On a consolidated basis, total assets were Rs 31,953.51 crores versus Rs 29,688.94 crores, with total equity at Rs 20,974.75 crores against Rs 18,609.94 crores. Net cash from operating activities on a consolidated basis was Rs 4,590.30 crores versus Rs 1,864.76 crores in the previous year. The closing consolidated cash and cash equivalents balance stood at Rs 304.59 crores.

Dividend Declaration

The board recommended a final dividend of Rs 229/- (2290%) per share of Rs 10 each, subject to shareholder approval at the ensuing Annual General Meeting. The company had already declared and paid two interim dividends of Rs 3/- (30%) each per share during FY26. The total dividend for FY26 thus works out to Rs 235/- (2350%) per share of Rs 10 each.

Key Managerial Changes

The board took note of the resignation of Mr. S Dhanvanth Kumar (ICSI Membership No. A7516) as Company Secretary, Compliance Officer, and Key Managerial Personnel, effective 7 May 2026, due to health reasons. Simultaneously, the board approved the appointment of Mr. Thulsidass T V (ICSI Membership No. A20927) as Vice President, General Counsel and Company Secretary, also with immediate effect from 7 May 2026. Mr. Thulsidass T V will additionally serve as Compliance Officer, Key Managerial Personnel, and part of Senior Management Personnel. Prior to joining MRF, he was associated with Britannia Industries Limited as Company Secretary and Compliance Officer, and brings over 25 years of experience in Secretarial, Compliance and Legal functions.

Auditor Re-appointment and Other Matters

The board approved the re-appointment of Messrs. M M NISSIM & CO LLP, Chartered Accountants (Firm Regn No. 107122W/W100672) as Joint Statutory Auditors for a period of five consecutive financial years, from the conclusion of the 65th Annual General Meeting until the conclusion of the 70th Annual General Meeting, subject to shareholder approval. Both joint statutory auditors — M M NISSIM & CO. LLP and SASTRI & SHAH, Chartered Accountants — issued unmodified audit opinions on the standalone and consolidated financial results. During the quarter, the company redeemed in full 15,000 listed, unsecured, rated, redeemable, taxable Non-Convertible Debentures aggregating to Rs 150 crores. The board also noted that the liability on Past Service Cost consequent to the introduction of New Labour Codes has been re-assessed at Rs 61.99 crores (standalone) and Rs 63.24 crores (consolidated) as at 31 March 2026.

MRF Limited has successfully completed the full redemption of its non-convertible debentures (NCDs) worth Rs 1,500.00 crore, along with the final interest payment, as disclosed in its regulatory filing dated April 13, 2026. The company submitted detailed compliance information to the National Stock Exchange of India Limited and Bombay Stock Exchange Limited as per SEBI circular requirements for maintaining centralized database of corporate bonds and debentures.

Debenture Redemption Details

The tire manufacturer completed the full redemption of its NCDs on February 24, 2026, coinciding with the maturity date of the debt securities. The debentures, carrying ISIN INE883A08016, were originally allotted on February 24, 2023, and listed on NSE three days later on February 27, 2023.

Interest Payment Completion

MRF made the final annual interest payment of Rs 103.06 crore on February 24, 2026, adhering to the scheduled payment timeline. The interest payment record date was set as February 9, 2026, and the company successfully met its payment obligations without any delays.

Credit Rating Status

The debentures maintained a strong credit rating throughout their tenure. CARE Ratings Limited assigned a CARE AAA rating with stable outlook, which was reaffirmed on September 29, 2025. The rating agency had previously reaffirmed the same rating on September 20, 2024, demonstrating consistent creditworthiness of the debt securities.

Regulatory Compliance

The filing was made pursuant to Chapter XIV of SEBI Circular No. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, updated on April 13, 2022. The company confirmed no defaults or delays in servicing any debt securities, maintaining its clean payment record. The document was digitally signed by S Dhanvanth Kumar, Company Secretary, on April 13, 2026.