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MRF Ltd.

BSE: 500290 Sector: Auto
NSE: MRF ISIN Code: INE883A01011
BSE 00:00 | 14 Aug 73827.10 574.95
(0.78%)
OPEN

73788.85

HIGH

74319.90

LOW

73555.55

NSE 00:00 | 14 Aug 73819.80 565.85
(0.77%)
OPEN

73503.95

HIGH

74300.00

LOW

73400.00

OPEN 73788.85
PREVIOUS CLOSE 73252.15
VOLUME 576
52-Week high 81423.00
52-Week low 61110.00
P/E 25.11
Mkt Cap.(Rs cr) 31,303
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 73788.85
CLOSE 73252.15
VOLUME 576
52-Week high 81423.00
52-Week low 61110.00
P/E 25.11
Mkt Cap.(Rs cr) 31,303
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

MRF Ltd. (MRF) - Company History

MRF is India's largest tyre manufacturer and ranked amongst the Top 20 Global Manufacturers with 9 state-of-the-art factories across India. It is also India's largest Original Equipment Manufacturer (OEM) tyre supplier with an expansive tyre range from two-wheelers to fighter aircrafts. The company's manufacturing facilities are located at Trichy Tiruvottiyur and Arakonam in Tamil Nadu Kottayam in Kerala Ponda in Goa Medak in Andhra Pradesh and Union Territory of Pondicherry.MRF Ltd was established in the year 1946 by K M Mammen Mappillai as a small toy ballon unit. Much later in November 1960 the company ventured in manufacturing of tyres by entering a technical collaboration with Tire & Rubber company USA. In the year 1964 the company commissioned their main plant. Also they established an overseas office at Beirut Lebanon to tap the export market. In the year 1967 the company became the first Indian company to export tyres to USA.In the year 1980 the company entered into a technical collaboration with the B. F. Goodrich Tyre Company USA that paved the way to a significant exercise in new product development and quality improvement. They introduced Nylogrip tyres for two-wheeler vehicles and also introduced Legend a premium segment nylon car tyre in the year 1985 and 1987 respectively.In 1989 the company collaborated with Hasbro International USA the world's largest toy maker and launched Funskool India. Also they entered into a pact with Vapocure of Australia to manufacture polyurethane paint formulations and with Pirelli for MUSCLEFLEX conveyor and elevator belting. In the year 1996 they set up a factory dedicated entirely for the manufacture of radial tyres at Pondicherry. In the year 1999 the company was selected as the most ethical company in India by 'Business World' magazine. In the year 2004 the company made a tie up with Maruti Udyog to boost motorsports in India. During the year 2004-05 the product range of the company expanded with Go-kart & Rally tyres and tyres for two/three wheelers. The company received the TOP Export Awards from CAPEXIL as well as AIRIA for the period ended 2005. In the year 2007 the company launched premium truck tyre Super Lug 50-FS. In May 2008 the company signed the memorandum of understanding (MoU) with government of Tamil Nadu for the new MRF plant to be located at Perambulur and also for expansion of their existing plants in Tamil Nadu. During the year 2009-10 the company increased the installed capacity of Automobile Tyres from 28450000 Nos to 31700000 Nos. Also they increased the installed capacity of Automobile Tubes from 29700000 Nos to 31600000 Nos. They launched two popular tyres namely MRF Meteor a bike tyre for both tarmac and dirt; and the MRF Steel Muscle S3K4 truck radials for better mileage on diverse road conditions. Also they completed the Ankenpally project at Medak district Andhra Pradesh. During the year the company won the All India Rubber Industries Association's (AIRIA) award for 'Highest Export Awards (Auto Tyre Sector)' category and 'Top Export Award' from Chemicals & Allied Products Export Promotion Council (CAPEXIL) for 2009-10.During the year 2010-11 the company launched new products namely MRF Z.L.O MRF Meteor M and MRF Steel Muscle 53C8. The company hived off the Speciality Coatings division to MRF Corp Ltd a 100% subsidiary of the company with effect from April 1 2011. Also the company won the All India Rubber Industries Association's (AIRIA) award for 'Highest Export Awards (Auto Tyre Sector)' category and 'Top Export Award' from Chemicals & Allied Products Export Promotion Council (CAPEXIL) for 2010-11. In 2011 MRF commissioned its 8th plant for the production of conventional tyres in Trichy Tamil Nadu.In 2012 MRF commissioned its 9th plant in Trichy Tamil Nadu solely for the manufacture of Radial Tyres. In 2014 the company has been Awarded for continued outstanding performance in Original Equipment Tire Satisfaction. The company also signed historic five-year agreement with the BCCI. The company announced its association as Global Partner for ICC Cricket World Cup 2015. The company Ranks highest in overall customer satisfaction for a 5th consecutive year according to JD Power Asia Pacific 2014.In 2015 the company has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to invest not less than Rs 4500crore in Tamil Nadu in its plants at Perambalur and Arakonam in Tamil Nadu over a period of 7 years. The company gets a place in The Forbes India's Super 50 list of Indian Companies.On 22 July 2016 MRF announced that credit rating agency ICRA Limited has upgraded the Credit Rating for the company's Non-Convertible Debenture (NCD) Programme in their yearly surveillance from [ICRA] AA+ (pronounced as ICRA double A plus) to [ICRA] AAA (pronounced as ICRA triple A) for Non-Convertible Debentures of Rs 500 crore issued in 2011.On 11 January 2017 MRF signed a Memorandum of Understanding (MoU) with the Government of Gujarat expressing its in-principle intention to set up a new manufacturing facility in Gujarat for manufacture of automotive tyres tubes flaps and related products. The Company proposes to invest a sum of about Rs 4500 crores over a ten year period in a phased manner. The new plant is planned to be set up in Gujarat with the intention of broad basing the Company's manufacturing facilities across India. The project will be funded by internal accruals and/or debt.