MRF signs MoU to establish tyre plant at SIPCOT; to invests Rs 5,300-cr

MRF has entered into a non-binding memorandum of understanding (MoU) with Guidance Tamil Nadu, nodal agency of the Government of Tamil Nadu, to set up a manufacturing facility for tyres and allied products at SIPCOT Industrial Park.

Upon execution, the project envisages an investment of about Rs 5,300 crore over a period of 12 years and is expected to generate direct employment for approximately 1000 persons.

The MoU is non-binding in nature and will be contigent upon sanction of a customised incentive package, infrastructure support including land and statutory approvals under applicable laws by the Government of Tamil Nadu.

MRF is engaged in the manufacture of rubber products such as tires, tubes, flaps, and tread rubber and/or trading in rubber and rubber chemicals.

The companys consolidated net profit surged 119.31% to Rs 691.83 crore on 14.99% jump in revenue from operations to Rs 8050.43 crore in Q3 December 2025 over Q3 December 2024.

Shares of MRF fell 2.82% Rs 1,35,000.80 on the BSE.

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