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MRF (company)

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MRF Limited
Company typePublic
BSE:500290
NSE:MRF
ISININE883A01011
Industry
Founded1946;78 years ago(1946)inTiruvottiyur,Madras,India
FounderK. M. Mammen Mappillai
Headquarters
Chennai,Tamil Nadu
,
India
Area served
Worldwide
Key people
  • K. M. Mammen (Chairman)
  • Rahul Mammen Mappillai (MD)
Products
RevenueIncrease₹25,486 crore(US$3.1 billion) (2024)[1]
Increase₹2,787 crore(US$330 million) (2024)[1]
Increase₹2,081 crore(US$250 million) (2024)[1]
Total assetsIncrease₹26,849 crore(US$3.2 billion) (2024)[1]
Total equityIncrease₹16,703 crore(US$2.0 billion) (2024)[1]
Number of employees
19,050 (2023)
Websitewww.mrftyres.comEdit this at Wikidata

MRF,orMRF Tyres,is an Indianmultinationaltyre manufacturing company and the largest manufacturer of tyres in India. It is headquartered inChennai.[2]The acronymMRFcomes from the company's initial days when it was called asMadras Rubber Factory.The company manufactures rubber products includingtyres,treads,tubes andconveyor belts,paintsandtoys.[3]MRF was named the world's second-strongest tyre brand by Brand Finance, with a AAA− brand grade.[4]

MRF is also active in cricket and motorsports endorsements; it runs theMRF Pace Foundationand MRF Institute of Driver Development (MIDD) in Chennai.

History[edit]

MRF was started byK. M. Mammen Mappillaias a toy balloon manufacturing unit in 1946 atTiruvottiyur,Madras(now Chennai). In 1952, the company ventured into the manufacture of tread rubber.[2]Madras Rubber Factory limited was incorporated as a private company in November 1960 and ventured into manufacture of tyres in partnership withMansfield Tire & Rubber companybased in Ohio, United States.[5]The company went public on 1 April 1961 and an office was established inBeirut,Lebanon to develop the export market in 1964 and its current logo of the muscleman was born.[5]In 1967, it became the first Indian company to export tyres to USA.[6]

In 1973, MRF started manufacturingNylontyres for the first time. The company entered into with a technical know-how collaboration withB. F. Goodrichin 1978.[7]The Mansfield Tire & Rubber Co sold out its share in 1979 and the name of the company was changed to MRF Ltd in the year. The company finalised a technical collaboration agreement with Marangoni TRS SPA, Italy for the manufacture of pre-cured tread rubber for retreading industry. MRF tyres supplied tyres toMaruti 800,India's first modern small car.[5]In 1989, the company collaborated withHasbro International,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 withItaliantyre manufacturerPirellifor conveyor and elevator belt manufacture.[7]During the year 2004–05, the product range of the company expanded with Go-kart & rally tyres and tyres for two/three wheelers.

Products[edit]

  • It manufactures various tyres for passenger cars, two–wheelers, trucks, buses, tractors, light commercial vehicles, off–the–road tyres and aero plane tyres,[3]MRF ZVTS[8]and MRF Wanderers for cars and SUVs, MRF Meteor all terrain tyres, MRF Steel Muscle for trucks and buses.[7]
  • MRF ZLX is the latest one which is well known for its comfort in passenger segment
  • Conveyor Belting – manufactures its in-house brand of Muscleflex conveyor belts.[7]
  • Pretreads – MRF has the most advanced pre-cured retreading system in India. MRF forayed into retreading in 1970 and manufactures pretreads for tyres.[7]
  • Paints - manufactures polyurethane paint formulations and coats used in automotive, decorative and industrial applications.[3]also indigenous Air craft tyres like Su 30 MKI fighter for Indian Air Force.

Manufacturing facilities[edit]

  1. KottayamPlant inKerala
  2. PuducherryPlant
  3. GoaPlant
  4. Trichy Radial Plant inPerambalur District,Tamil Nadu
  5. Trichy Bias Plant inPerambalur District,Tamil Nadu
  6. ArakonamPlant inTamil Nadu
  7. TiruvottiyurPlant inChennai,Tamil Nadu
  8. MedakPlant inTelangana
  9. Ankenpally Plant inTelangana
  10. Dahej Plant inGujarat

The company also manufactures toys at its facility inGoa.The paints and coats are manufactured at two facilities in Chennai, Tamil Nadu.[9]

Funskool[edit]

Main article:Funskool

Funskool Indiawas established in 1987 in collaboration with Hasbro toys, US. Funskool manufactures and markets toys, board games among others. It has a manufacturing facility in Goa, India. The company has manufacturing licenses for toys and games fromDisney,Warner Brothers,Rummikubetc. Funskool also has partnerships with renowned toy brands such asHasbro,Lego,Hornby,Ravensburger,Tomy Toys,LeapFrog,SikuJumbo,andNew Brightfor manufacturing and marketing in India.[10]

Motorsports[edit]

MRF Racing[edit]

MRF built its firstFormula 3car in 1997.[11]MRF in collaboration withMarutiestablished theFormula Marutiracing, a single-seater, open wheel class motorsport racing event for race cars made in India.[5]MRF Challengeis aFormula 2000open-wheel motorsport formula based series organised byMadras Motor Sports Clubin association with MRF. Thelatest seasonconsisted of races organised atMadras Motor Racing Track, Chennai,Bahrain International Circuit,Losail International Circuit, DohaandBuddh International Circuit, Noida.Freddie Hunt, son of1976Formula OnechampionJames HuntandMathias Lauda,son of1975,1977and1984Formula One championNiki Laudaboth competed in the series.[12]MRF has sponsored Indian racing drivers includingNarain Karthikeyan,Karun Chandok,Ashwin Sundar,N. LeelakrishnanandRaj Bharath.

MRF rally team[edit]

MRF is the first and only Indian manufacturer to have won the Team Championship at the prestigious FIA European Rally Championship, not once, but twice in 2022 and 2023.

MRF have also been a long-running sponsor of an MRF rally team participating in theAsia-Pacific Rally ChampionshipandIndian National Rally Championship.Associating with Czech car manufacturerŠkoda,MRF Skoda is the three time reigning champion in the Asia-Pacific Rally Championship withChris Atkinsonwinning in2012,Gaurav Gillin2013,Jan Kopeckýin2014,[13]Pontus Tidemandin2015and Gaurav Gill again in2016and2017.MRF also participates inRaid De Himalaya,the world's highest rally.[14]

MRF entered theEuropean Rally Championshipin2020,with WRCHyundaidriverCraig Breenand Emil Lindholm driving for the team.

MRF remained in ERC for 2021 and also joined several other rally championships.Craig Breen,along with Italian Simone Campedelli are set to participate inEuropean Rally Championship.Campedelli, along with eleven-time Italian rally championPaolo Andreucciand the 2017 ERC Ladies championTamara Molinarowill use the tyres while competing in the Italy Gravel rally championship. Emil Lindholm left ERC and instead will focus entirely on testing the tyres on the gravel roads of Finland. After the 2021 Rally di Roma Capitale, Breen was replaced by otherHyundaidrivers,Jari HuttunenandDani Sordo,as well asNil Solanslater on.

MRF entered Norbert Herczig, Simone Campedelli and the 2021 runner-upEfren Llarenafor the 2022 campaign, with Llarena taking his first win during 2022 Rallye Azores.

MRF Motocross[edit]

MRF promotes a national motocross championship, a form of all-terrain two wheeler racing held on enclosed off-road circuits annually across several cities.[11]

MRF Karting[edit]

MRF sponsors majorkartingchampionships in India. MRF is the first Indian tyre company to developFIAapproved karting tyres.[11]

Cricket[edit]

MRF Pace Foundation[edit]

Main article:MRF Pace Foundation

MRF Pace Foundation is a coaching clinic for trainingfast bowlersestablished by MRF with the help of formerAustralianPace spearheadDennis Lilleein Chennai, India. Through this program, young aspiring fast bowlers are trained in a special facility. Fast bowlers who trained with foundation and went on to represent theIndian Cricket TeamincludeJavagal Srinath,Irfan Pathan,Munaf Patel,Venkatesh Prasad,R. P. Singh,Zaheer KhanandS Sreesanth.Besides Indian players, foreign players likeChaminda Vaas,Henry Olonga,Heath StreakandAustralianfast bowlersGlenn McGrath,Mitchell JohnsonandBrett Leehave also trained at the foundation.Sachin Tendulkarin his early days trained in the MRF Pace Foundation to become a fast bowler.Glenn McGrathwas appointed director of the Foundation on 2 September 2012, replacing Dennis Lillee, who has held the post since its inception in 1987.[15]

Endorsement[edit]

MRF has been the bat sponsor for many great cricketers of the game.Sachin Tendulkar,Brian LaraandSteve Waugh.[16]Currently MRF is endorsed byVirat Kohli.[17]MRF has also sponsored Indian batsmenRohit Sharma,[18]Gautam Gambhir,Sanju Samson,Shikhar DhawanandMignon du Preez.

Previous endorsements[edit]

Sponsorship[edit]

AtIPL 2010,MRF sponsoredmoored balloonsfloating above the cricket grounds with a high-definitioncamerarecording live actions of the cricket match. MRF joined as a global partner ofInternational Cricket Councilfor2015 Cricket World Cup.[19]In 2017, MRF became the sleeve sponsor for thePremier LeagueclubsNewcastle United,[20]West Ham United F. C.[21]and official tyre partner forWest Bromwich Albion.

Awards and recognition[edit]

MRF won the JD Power Award for the record 11th time in 2014.[22]The company has won several awards and accolades including the All India Rubber Industries Association's (AIRIA) award for 'Highest Export Awards (Auto Tyre Sector)', 'Top Export Award' from Chemicals & Allied Products Export Promotion Council (CAPEXIL) for 2009–10. In 2014, MRF was ranked 48th among India's most trusted brands according to the Brand Trust Report, a study conducted by Trust Research Advisory.[23]

Anti competition practices[edit]

In April 2022, theCompetition Commission of Indiaraided the headquarters of MRF along with other tyre companies likeApollo Tyres,CEATandContinental Tyreat multiple locations. Earlier in February the anti trust watch dog had released a statement about fining these tyre companies a total of Rs 1788 crores (of which MRF fined Rs 622.09 cr.) for sharing price sensitive information among themselves to manage their cartelization of tyre prices for supplies to the public transport corporation of Haryana state. Earlier the All India Tyre Dealers Federation had complained to the Ministry of corporate affairs about this cartelization of these companies to increase the tyre prices. The ministry had then referred the case to the CCI.[24]

See also[edit]

References[edit]

  1. ^abcde"MRF Q4FY24 Results"(PDF).bseindia.com.
  2. ^ab"MRF:Overview".14 February 2015.
  3. ^abc"Company Profile:MRF".Reuters.14 February 2015. Archived fromthe originalon 14 February 2015.
  4. ^"MRF is 2nd strongest tyre brand in world".The Times of India.13 April 2023.ISSN0971-8257.Retrieved14 April2023.
  5. ^abcd"MRF Limited".NDTV. 14 February 2015.
  6. ^"Time line and milestones: MRF tyres 1946-1970".MRF Tyres website.MRF Tyres.Retrieved12 August2015.
  7. ^abcde"Company background: MRF".14 February 2015.
  8. ^"What Are The Best Tyre Brands 2020? - Caringlyyours".Caringly Yours.16 June 2020.Retrieved24 June2020.
  9. ^"MRF Paints and Coats".
  10. ^"Funskool India".14 February 2015.
  11. ^abc"MRF Sports".
  12. ^Simmons, Marcus (15 July 2014)."The sons of James Hunt and Niki Lauda to race in MRF series".Autosport.Haymarket Publications.Retrieved15 August2014.
  13. ^"Kopecky wins WRC for MRF".rally.com. Archived fromthe originalon 29 November 2014.
  14. ^"Raid de Himalaya 2009 from October 5, 2009".North India Times.2 September 2009. Archived fromthe originalon 1 January 2010.Retrieved30 March2010.
  15. ^"McGrath takes charge of MRF Pace Foundation".Espncricinfo.
  16. ^"Sachin's innings with MRF ends".The Hindu.
  17. ^"Virat Kohli earns Rs 8 crore for MRF ad on his bat, rakes in Rs 2 crore more than MS Dhoni".
  18. ^"Even I am guilty of getting carried away but Sachin has stayed grounded".The Indian Express.
  19. ^"MRF becomes global partner for ICC".Zigwheels.
  20. ^"MRF named shirt sleeve sponsor".Newcastle United Football Club.8 September 2017.Retrieved29 March2018.
  21. ^"MRF announced as West Ham United's first ever shirt sleeve sponsor".West Halm Football Club.Retrieved29 March2018.
  22. ^"MRF gets JD Power award for 10th time".The Times of India.
  23. ^"India's Most Trusted Brands".Archived fromthe originalon 2 May 2015.
  24. ^"CCI Conducts Raids On Tyre Companies".3 April 2022.Retrieved4 April2022.

External links[edit]

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