Brands
MRF accelerates with 121pc profit jump as tyre demand grips roads
CHENNAI: MRF has delivered a blistering performance for the quarter ending 31st December 2025, with consolidated profit after tax surging 121 per cent to Rs 691.83cr from Rs 315.46cr a year earlier. The Chennai-based tyre major’s revenue climbed 15 per cent to Rs 8,050.43cr, driven by robust replacement demand and improved product mix across its domestic and export markets.
The company’s standalone profit jumped 121 per cent to Rs 679.14cr on revenue of Rs 7,933.69cr, up 15 per cent year-on-year. For the nine months ending December, consolidated profit reached Rs 1,717.94cr on revenue of Rs 23,104.84cr, marking growth of 27 per cent and 10 per cent respectively.
Buoyed by the strong showing, MRF’s board declared a second interim dividend of Rs 3 per equity share (30 per cent) for the financial year ending 31st March 2026. The company fixed Friday, 13th February 2026 as the record date, with payment scheduled on or after 27th February.
The stellar numbers came despite a Rs 77.20cr exceptional charge triggered by India’s new consolidated labour codes, which took effect on 21st November 2025. The legislation required MRF to immediately recognise increased gratuity and leave liability arising from past service costs under accounting standards.
Earnings per share for the quarter stood at Rs 1,631.23 on a consolidated basis and Rs 1,601.33 standalone, more than doubling from Rs 743.80 and Rs 723.20 respectively in the corresponding period last year. Operating margins expanded significantly to 11.94 per cent from 6 per cent, whilst net profit margins nearly doubled to 8.46 per cent from 4.44 per cent.
The company’s board meeting, chaired by managing director Rahul Mammen Mappillai, commenced at 11:00 am and concluded at 1:30 pm on 6th February 2026. The results were reviewed by the audit committee and subjected to limited review by statutory auditors MM Nissim & Co and Sastri & Shah, who issued unqualified reports.
Finance costs declined to Rs 91.23cr from Rs 93.65cr year-on-year, reflecting improved working capital management. Employee benefits expense rose 9 per cent to Rs 522.48cr, driven by headcount expansion and wage increases. Raw material costs climbed marginally to Rs 4,688.45cr, though inventory changes of Rs 257.91cr suggest careful stock management ahead of seasonal demand variations.
The consolidated results incorporate four subsidiaries: MRF Corp Limited, MRF Lanka (Private) Limited, MRF SG Pte Ltd, MRF International Limited, and step-down subsidiary MRF DB-FZCO. The company operates primarily in the manufacture of rubber products including tyres, tubes, flaps and tread rubber, which constitute a single reportable segment under accounting standards.
MRF’s debt-equity ratio remained comfortable at 0.03 times, whilst the current ratio improved to 1.69 times from 1.47 times, indicating strengthening liquidity. Debtors turnover accelerated to 9.24 times on an annualised basis from 8.82 times, suggesting tighter credit management and faster collections.
Other comprehensive income included remeasurements of employee defined benefit plans totalling Rs 18.75cr and gains on cash flow hedges of Rs 12.16cr net of tax, reflecting prudent treasury operations in volatile currency markets.
With raw material pressures easing and pricing power intact, MRF has demonstrated that even regulatory speed bumps cannot slow a company firing on all cylinders. The tyre maker’s shares trade on both the BSE and NSE, with the company maintaining its registered office at 114 Greams Road, Chennai.
Brands
Rohini Laya Venkateswaran named executive director at Gillette India
P&G veteran with two decades of experience steps into leadership role
NEW DELHI: Rohini Laya Venkateswaran has been appointed executive director at Gillette India Pvt. Ltd., bringing with her more than two decades of experience across sales, strategy and brand leadership within the consumer goods sector. In her new role, she will help steer the company’s strategic direction and growth while strengthening its footprint in the grooming and personal care category.
Venkateswaran joins the board after a long career at Procter & Gamble, where she spent nearly 21 years shaping sales strategy, building brands and driving market expansion across India and international markets.
Most recently, she served as chief sales officer for India at P&G. Prior to that, she was vice president and country manager for east gulf markets, overseeing operations in Kuwait, Oman, Bahrain and Qatar while also guiding sales strategy across the Gulf region, including the UAE.
Earlier in her career, she led sales strategy and planning for India while serving as marketing leader for brands such as Olay and Old Spice. During this stint, she focused on reshaping go-to-market channels and building awareness through digital, social and influencer-led campaigns to drive growth.
Her journey at P&G also included roles such as director sales strategy and planning leader India, associate director modern retail and ecommerce, regional manager for Delhi and Rajasthan, and several key account and trade marketing roles across the country. She also spent time in the United States working on the P&G Walmart international team, collaborating on global retail initiatives.
Venkateswaran holds an MBA in marketing from SP Jain Institute of Management and Research and a bachelor’s degree in mechanical engineering from RV College of Engineering.
With her mix of sales acumen, brand-building experience and global exposure, Venkateswaran’s appointment signals a sharpened focus on growth and market leadership for Gillette India.
