Motilal Oswal's research report on MRF
MRF’s 4QFY22 performance was driven by strong revenue growth, while RM cost inflation continued to impact margin. The industry is taking gradual price increases to dilute the impact of severe cost inflation. We raise our FY23/FY24 EPS by ~6%/3% to factor in price hikes in the Replacement market.
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Outlook
We maintain our Neutral rating with a TP of INR69,000 per share.
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