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MRP Ten Year Financial Summary (Standalone) 2023 2022 2021 2020 2019 2018 2017 2014-16 2014 Crores Revenue from Operations 22578 18989 15922 15991 15837 15181 14749 22162 13198 2013 12131 Other Income 248 315 207 331 417 329 329 321 65 29 Total Income 22826 19304 16129 16322 16254 15510 15078 22483 13263 12160 Profit Before Taxation 1119 879 1700 1399 1609 1602 2066 3606 1339 1227 Provision for Taxation 303 232 451 4 512 510 615 1132 441 425 Profit after Taxation 816 647 1249 1395 1097 1092 1451 2474 898 802 Share Capital 4.24 4.24 4.24 4.24 4.24 4.24 4.24 4.24 4.24 4.24 Reserves 14505 13773 13175 12000 10649 9600 8540 7157 4513 3641 Net Worth Fixed Assets Gross 14509 13777 13179 12004 10653 9604 8544 7161 4518 3645 19930 16442 15018 14133 10780 9028 7560 6307 6954 5834 BOARD'S REPORT Your Directors have pleasure in presenting to you the Sixty Second Annual Report and the Audited Financial Statements for the financial year ended 31st March, 2023. Standalone Financial Results Total Income Profit before tax Provision for taxation Profit for the year Performance Overview Crores 2022-2023 22826 1119 303 2021-2022 19304 879 232 816 647 During the financial year ended 31st March, 2023, your Company's total income was 22826 crores as against 19304 crores in the previous year, recording a growth of 18%. The profit before tax stood at 1119 crores for the year as against 879 crores for the previous financial year. The net provision for tax (current tax and deferred tax) for the year is *303 crores (previous year 232 crores). After making provision for income tax, the ₹ net profit for the year ended 31st March, 2023 is 816 crores as against *647 crores for the previous financial year. The Company's exports (including Indian Rupee Exports) stood at 1866 crores for the financial year ended 31st March, 2023, as against crores for the previous year. 1779 Revenue from operations for 2022-23 registered good growth over the previous year. The increase in sales was a result of growth in all product groups. The unprecedented increase in raw material prices, which was witnessed during financial year 2021-22 due to the COVID pandemic and also the war in Ukraine, extended into the current financial year. Despite efforts being taken to pass on the cost increases in a graduated manner, the profitability continued to be low during the first three quarters of the year. With easing of raw material prices during the later part of the year, the benefits of lower raw material cost resulted in better profitability in the fourth quarter. It is a matter of pride that Brand Finance, which is one of the world's leading independent brand valuation and strategy consultancy, with headquarters in London, has rated MRF as the second strongest Tyre brand in the world besides being the most valued Tyre brand in India. As required under regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Management Discussion and Analysis Report is attached and forms part of this Report. 13

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