MRF (company)

Source: Wikipedia, the free encyclopedia.

MRF Limited
RevenueIncrease 23,261.20 crore (US$2.9 billion) (2023)[1]
Increase 2,389.10 crore (US$300 million) (2023) [1]
Increase 769 crore (US$96 million) (2023)[1]
Total assetsIncrease 24,369.40 crore (US$3.1 billion) (2023)[1]
Total equityIncrease 14,707.70 crore (US$1.8 billion) (2023)[1]
Number of employees
Increase 19,050 (2023)
Websitewww.mrftyres.com Edit this at Wikidata

MRF or MRF Tyres, is an

toys.[3] MRF also runs the MRF Pace Foundation, Chennai and MIDD – MRF Institute of Driver Development in Chennai. MRF Limited has emerged as the world's second-strongest tyre maker, with a AAA− brand grade.[4]

History

MRF was started by

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 with Mansfield Tire & Rubber company based in Ohio, United States.[5] The company went public on 1 April 1961 and an office was established in Beirut, 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 manufacturing Nylon tyres for the first time. The company entered into with a technical know-how collaboration with B. F. Goodrich in 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 to Maruti 800, India's first modern small car.[5] In 1989, the company collaborated with Hasbro 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 with Italian tyre manufacturer Pirelli for 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

  • Tyres 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 in India

  1. Kottayam Plant in Kerala
  2. Puducherry Plant
  3. Goa Plant
  4. Trichy Radial Plant in
    Perambalur District, Tamil Nadu
  5. Trichy Bias Plant in
  6. Tiruvottiyur Plant in Chennai, Tamil Nadu
  7. Medak Plant in Telangana
  8. Ankenpally Plant in Telangana
  9. Dahej Plant in Gujarat

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

Funskool

Tomy Toys, LeapFrog, Siku, Jumbo, and New Bright for manufacture and marketing in India.[10]

Motorsports

MRF Racing

MRF built its first

.

MRF rally team

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 the

2014,[13] Pontus Tidemand in 2015 and Gaurav Gill again in 2016 and 2017. MRF also participates in Raid De Himalaya, the world's highest rally.[14]

MRF entered the European Rally Championship in 2020, with WRC Hyundai driver Craig Breen and 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 in European Rally Championship. Campedelli, along with eleven-time Italian rally champion Paolo Andreucci and the 2017 ERC Ladies champion Tamara Molinaro will 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 other Hyundai drivers, Jari Huttunen and Dani Sordo, as well as Nil Solans later on.

MRF entered Norbert Herczig, Simone Campedelli and the 2021 runner-up

Efren Llarena
for the 2022 campaign, with Llarena taking his first win during 2022 Rallye Azores.

MRF Motocross

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

MRF sponsors major

FIA approved karting tyres.[11]

Cricket

MRF Pace Foundation

MRF Pace Foundation is a coaching clinic for training

Mitchell Johnson and Brett Lee have also trained at the foundation. Sachin Tendulkar in his early days trained in the MRF Pace Foundation to become a fast bowler. Glenn McGrath was appointed director of the Foundation on 2 September 2012, replacing Dennis Lillee, who has held the post since its inception in 1987.[15]

Endorsement

MRF has been the bat sponsor for many great cricketers of the game. Sachin Tendulkar, Brian Lara and Steve Waugh.[16] Currently MRF is endorsed by Jerome Chinia and Virat Kohli.[17] MRF has also sponsored Indian batsmen Rohit Sharma,[18] Gautam Gambhir, Sanju Samson, Shikhar Dhawan and Mignon du Preez.

Previous endorsements

Sponsorship

At

West Bromwich Albion
.

Awards and recognition

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

In April 2022, the Competition Commission of India raided the headquarters of MRF along with other tyre companies like Apollo Tyres, CEAT and Continental Tyre at 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

References

  1. ^ a b c d e "MRF Q4FY23 Results" (PDF). nseindia.com.
  2. ^ a b "MRF:Overview". 14 February 2015.
  3. ^ a b c "Company Profile:MRF". Reuters. 14 February 2015. Archived from the original on 14 February 2015.
  4. ISSN 0971-8257
    . Retrieved 14 April 2023.
  5. ^ a b c d "MRF Limited". NDTV. 14 February 2015.
  6. ^ "Time line and milestones : MRF tyres 1946-1970". MRF Tyres website. MRF Tyres. Retrieved 12 August 2015.
  7. ^ a b c d e "Company background: MRF". 14 February 2015.
  8. ^ "What Are The Best Tyre Brands 2020? - Caringlyyours". Caringly Yours. 16 June 2020. Retrieved 24 June 2020.
  9. ^ "MRF Paints and Coats".
  10. ^ "Funskool India". 14 February 2015.
  11. ^ a b c "MRF Sports".
  12. ^ Simmons, Marcus (15 July 2014). "The sons of James Hunt and Niki Lauda to race in MRF series". Autosport. Haymarket Publications. Retrieved 15 August 2014.
  13. ^ "Kopecky wins WRC for MRF". rally.com. Archived from the original on 29 November 2014.
  14. ^ "Raid de Himalaya 2009 from October 5, 2009". North India Times. 2 September 2009. Archived from the original on 1 January 2010. Retrieved 30 March 2010.
  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. Retrieved 29 March 2018.
  21. ^ "MRF announced as West Ham United's first ever shirt sleeve sponsor". West Halm Football Club. Retrieved 29 March 2018.
  22. ^ "MRF gets JD Power award for 10th time". The Times of India.
  23. ^ "India's Most Trusted Brands". Archived from the original on 2 May 2015.
  24. ^ "CCI Conducts Raids On Tyre Companies". 3 April 2022. Retrieved 4 April 2022.

External links