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MRF Ltd share price today (on 3 June 2023).
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BSE: 500290 | NSE: MRF | ISIN: INE883A01011 Market Cap: [Rs.Cr.] 4,364 | Face Value: [Rs.] 10 Industry: TyresMRF Ltd is India's No.1 tyre manufacturing company. The company is engaged in the manufacturing of rubber products, such as tyres, tubes, flaps, tread rubber and conveyor belt. The company's manufacturing facilities are located at 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 28,450,000 Nos to 31,700,000 Nos. Also, they increased the installed capacity of Automobile Tubes from 29,700,000 Nos to 31,600,000 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. The company's new plant at Perambalur, near Tiruchirapalli in Tamil Nadu will be operational in 2012 with an initial capacity of 3.5 lakh truck and car radials.
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