MRF Ltd Company History

A young entrepreneur, K. M. Mammen Mappillai, opened a small toy balloon manufacturing unit in a shed at Tiruvottiyur, Madras (now Chennai).

Although the "factory" was just a small shed without any machines, a variety of products, ranging from balloons and latex-cast squeaking toys to industrial gloves and contraceptives, were produced. During this time, MRF established its first office at 334, Thambu Chetty Street, Madras (now Chennai), Tamil Nadu, India.

MRF ventured into the manufacture of tread rubber. And with that, the first machine, a rubber mill, was installed at the factory. This step into tread-rubber manufacture, was later to catapult MRF into a league that few had imagined possible.

MRF soon became the only Indian-owned unit to manufacture the superior extruded, non-blooming and cushion-backed tread-rubber, enabling it to compete with the MNC's operating in India at that time.

The quality of the product manufactured was of such a high standard that by the close of 1956, MRF had become the market leader with a 50% share of the tread-rubber market in India. So effective was MRF's hold on the market, that the large multinationals had no other option but to withdraw from the tread rubber business in India.

The Company was incorporated as a private limited company on 5th

November. The Company Manufacture automobile, aircraft, cycle tyres

and tubes in collaboration with the Mansfield Tire & Rubber Co.,

Mansfield, Ohio, U.S.A. The tyres are sold under the trade name

"Masnfield Tyres (MRF)". The Company also produces other industrial

products made of rubber like conveyer belt, hoses etc. It took over

the entire business of the Madras Rubber Factory as a going concern as

from 16th November, for a consideration of Rs 25 lakhs.

The Madras Rubber Factory Private Limited was converted into a public

company on 1st April, and additional capital was issued in order to

start the manufacture of automobile tyres and tubes in collaboration

with the Mansfield Tire & Rubber Co., Mansfield, Ohio, U.S.A. The

Company was given permission to export tyres having "Mansfield" trade

mark to all world markets except U.S.A. and Canada.

2,49,650 shares allotted without payment in cash. 350 shares

subscribed for by the signatories to the Memorandum of Association.

2,50,000 shares reserved and allotted directors, etc. 5,00,000 shares

issued to public in April 1961. The balance 2,50,000 shares allotted

to collaborators as payment for machinery.

The main plant for production of tyres and tubes were commissioned on

4th December.

Nylon Hot-Stretch Unit of the latest design was commissioned in

November.

6,25,000 Right Equity shares offered at par in the proportion 1:2.

With the commissioning of the main plant in 1964, MRF also made progress in the export of tyres. An overseas office at Beirut (Lebanon) was established to develop the export market, and it was amongst India's very first efforts. This year also marked the birth of the now famous MRF Muscleman.

MRF became the first Indian company to export tyres to USA - the very birthplace of tyre technology.

In March, 5,62,500 bonus equity shares issued in the proportion 3:10.

MRF scored a major breakthrough by being among the very first in India to manufacture and market Nylon tyres.

During September, 12,18,714 bonus shares issued in proportion 1:2.

(Only 12,18,689 shares were taken up).

The Company finalised a technical know-how collaboration with B.F.

Goodrich Co., U.S.A., which became fully operative in early 1980-81.

This agreement was revalidated for further five years.

The Masfield Tire & Rubber Co., U.S.A. offered for sale out of its

holding 3,74,250 No. of Equity shares of Rs 10 each of the Company at a

premium of Rs 4 each as follows: 3,63,786 shares as rights to the

existing shareholders in the proportion 1:8 and 10,464 shares to the

employees of the Company.

The Company crossed several milestones in its history. It went into

technical collaboration with BF Goodrich Tire Co., USA in the year.

The name of the Company, Madras Rubber Factory Ltd. was changed to MRF

Ltd in the year.

Mansfield Tire & Rubber Co. of U.S.A., offered for the their balance

shareholding of 3,55,537 No. of Equity shares of Rs 10 each in the

Company at a premium of Rs 4 per share as follows: 3,29,587 shares to

the existing resident Indian shareholders and non-resident Indian

shareholders (on non-repatriation basis) in proportion 1:10 and 25,950

shares to the Indian employees, business associates and dealers of the

Company.

2,00,000 No. of Equity shares allotted in Feb. 1982 to IFCI at a

premium of Rs 5 per shares on conversion of loans.

The Company finalised a technical collaboration agreement with M/s.

Marangoni TRS SPA, Italy for the supply of know-how for the manufacture

pre-cured tread rubber for retreading industry.

Sales crossed INR two billion. MRF tyres were the first tyres selected for fitment onto the Maruti Suzuki 800 - India's first small, modern car.

A letter of intent was obtained for the manufacture of conveyor

beltings and hoses in collaboration with Industiral Pirelli SPA, Italy.

Plans were also on hand to go in for a joint venture with the aero tyre

division of B.F. Goodrich & Co., for retreading and subsequently for

manufacturing aircraft tyres.

The Company issued 15% non-convertible debentures of Rs 100 each (II

Series) for Rs 8 croes as rights to the existing shareholders to raise

finances for modernisation of the Company. Under Cumulative interest

payment scheme, these debentures are redeemable in 3 annual instalments

of Rs 35 each commencing on 8th May, 1993 at a premium of 5% in the

first instalment. Under the non-cumulative interest payment scheme,

the debentures are redeemable in five equal annual instalments of Rs 20

each comencing from 8th May 1991 at a premium of 5% which will be paid

on 8th May, 1993.

(18 months), The Company obtained MRTP clearance and a letter of

intent for the manufacture of pre-cured tread rubber upto 6,000 tonnes

per annum by using indigenous technology developed by the Company.

MRTP clearance was also obtained for setting up a new plant at Tada in

Andhra Pradesh for manufacrure of 1.5 million number of tyres and tubes

per annum.

The Company entered into a collaboration agreement with Vapocure of

Austraia to manufacture polyurethane paint formulations that can be

rapidly cured at room temperature and would also help in the

manufacture of shatterproof glass. The plant with an installed

capacity of 10,000 tonnes per annum was being set up at Gummidipoondi

in Tamil Nadu.

`Funskool (India), Ltd. and `Crystal Investment and Finance Co.

Ltd.' became subsidiaries of the Company. Funskool (India), Ltd. was

promoted in collaboration with Hasbro International, U.S.A., the

World's largest toy makers.

The MRF Pace Foundation was set up, with international pace bowler, Dennis Lillee as its Director. Not long thereafter, pace bowlers trained at the Foundation were selected for the Indian Cricket Team.

The Company was identified as `Star Exporter', a status that enables

the company to get priority treatment in several areas concerned with

customs, RBI, etc.

Aero tyre division of B.F. Goodrich Co., USA was taken over by

Michelin Cie of France.

Government approved the technical collaboration with Uniroyal

Goodrich Tire Co., U.S.A., a subsidiary of Michelin Cie., France, for

imparting latest technology for bias ply/radial aircraft tyres for a

period of 5 years.

The Aruna Leathers & Exports Ltd. was amalgamated with the Company.

As per the scheme one equity share of Rs 10 each of MRF Ltd. was

allotted for every 10,000 shares of Rs 10 each fully paid-up held in

ALEL. Accordingly, 25 equity shares were allotted to the erstwhile

sharehodleres of ALEL.

The Company introduced `Vapocure' colours in the market.

(6 months), the Company privately placed 15,00,000 - 14%

non-convertible debentures of Rs 100 each (III Series). The debentures

are redeemable - at a premium of 5% in three annual instalments of Rs

35 each commencing from 31st July, 1997.

The Company privately placed with SBI Mutual Fund 10,00,000 - 14%

debentures (IVth Series) which are redeemable at a premium of 5% on

26th June, 1998.

During the year 5,00,000 - 14% debentures were also privately placed

with Infrastructure Leasing & Financial Services, Ltd. These

debentures are redeemable in three annual instalments at a premium of

5% commencing from 23rd July, 1997.

The Company promoted a new Company viz. MRF International, Ltd., in

view of the tremendous growth potential in the export market.

3,85,000 No. of equity shares issued to (prem. Rs 242 per share) to

the foreign collaborators M/s. Asia Trading Services, Hongkong.

The Company has formed a new Company, viz., MRF INTERNATIONAL LIMITED

and the Company has received the certificate of commencement of

business.

K. M. Mammen Mappillai was awarded the Padmashri Award of National Recognition for his contribution to industry - the only industrialist from South India to be accorded this honour. MRF also became the first tyre company in India to cross the INR 10 billion mark. In addition, the company was voted by the Far Eastern Economic Review, as one of the ten leading Corporate Groups in India and a Leader in Asia, and by readers of the A & M magazine, as one of India's most admired Marketing Companies.

The Company has received the Top Export Award for the year from All

India Rubber Industries Association.

The Company has received an award from CAPEXIL - Certificate of Merit

based on the export performance for the year.

The Far Eastern Economic Review Award was presented to MRF for the

fourth year in succession in recognition of excellence.

MRF Ltd has been assigned a credit rating of `PR1+' (superior) for

its proposed Rs 100 crore commercial paper (CP) programme by Credit

Analysis and Research Ltd (CARE).

MRF is setting up a new plant in Pondicherry for the production of

radial tyres.

The company set up the Arakonam plant in Chennai to produce bicycle

tyres and tubes.

MRF began manufacturing tyres and tubes in technical collaboration

with Mansfield Tire and Rubber Company, USA.

MRF has launched Nylogrip Zapper, a high performance tyre for new

generation bikes.

The company tied up with Uniroyal Goodrich Tire Co. of USA, a

subsidiary of the French Tyre giant Michelin, which held 9.8 per cent

stake in the company.

MRF Tyres has signed an OEM (original equipment manufacturer)

alliance with Siel Honda Motors and Hindustan Motors.

MRF has launched a market sampling operation for the MRF Zigma.

MRF Ltd has decided to set up more such clinics in Northern and

Western cities.

The Company has entered into agreements with the Depositories viz.,

National Securities Depository Ltd. [NSDL] & Central Depository

Services (India) Ltd.

AIRIA Highest Export Award was given in recognition of our

outstanding export performance in respect of Auto Tyres & Tubes during

the year.

The Company has set up shop in Dubai to target markets in the UAE as

part of its export thrust.

MRF has launched a steel-belted premium radial tyre variant called

`MRF ZVTS'.

The MRF rally team wins the APRC rally

MRF was ranked highest in customer satisfaction along with multinational Bridgestone

in a study conducted by JD Power Asia pacific.

MRF Tyres Ltd sees slump in commercial vehicle tyre market and passenger car growth

has also declined.

High court dismisses the writ petition filed by MRF Employees Union challenging the order

of dismissal of a worker, who was the secretary of the union.

Advertising Standard Council of India Quashed the objection raised by MRF by

upholding J K Industries claim of being India's Number one tyre maker in the

four wheeler segment.

MRF Ltd has obtained the 'Outstanding Corporate Sports Initiative' award from the

Federation of Indian Chamber of Commerce and Industry.

MRF and Bridgestone are ranked highest in a tie for the second year in a row in customer

satisfaction with original tries according to JD Power Asia Pacific.

Shri K.M. Mammen Mappillai, Chairman and Managing Director expired on march 2nd.

Mr.C.D Khanna has ceased to be the Director of the company. And Mr. K S Narayanan

has resigned from the board of MRF.

Mr.N Kumar and Mr Ranjit Issac Jesudasen have been appointed as the directors of the

company.

Mr K S Narayanan ceased to be director of the Company with effect from April 17, 2003, consequent to his resignation from the Board of Directors.

Mrf Ltd. has informed the Exchange that at its meeting held on December 19, 2003 the BOD have re-designated Jt. Managing Director Mr. Arun Mammen as Managing Director of the Company w.e.f April 01, 2004.

MRF Ltd. has informed that Mr Ravi Mannath has been appointed as Additional Company Secretary of the Company w.e.f. January 05, 2004.

MRF received the highest rankings in the study in four of the five factors determining overall satisfaction with tyres appearance, durability, traction and handling.

MRF Tyres is the biggest consumer of natural rubber in India during 2002-03

Ties up with Maruti Udyog to boost motorsports in India

MRF wins its third APRC rally

MRF Ltd launches premium truck tyre Super Lug 50-FS.

MRF wins the JD Power Award.

MRF launches ZSLK Tyres

MRF wins the JD Power award again for the 6 time.

MRF Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 23, 2009, inter alia, has transacted the following:

1. Appointed Mr. Sanjay Sharad Vaidya as a Director of the Company to fill the casual vacancy caused due to the demise of the Director Mr. S Nandagopal, and

2. Appointed Dr. Salim Joseph Thomas as an Additional Director of the Company with effect from January 23, 2009.

MRF Ltd. has commenced work on its new plant on a 300-acre site in Tiruchi.

In the J.D. Power Asia Pacific India Original Equipment Tyre Customer Satisfaction Index, MRF ranked the highest in the 2010 study.

Mr. Jacob Kurian and Mr. M. Meyyappan has appointed as Additional Directors of the Company.

MRF Ltd have recommended a Final Dividend of Rs.19/- per share on the paid-up capital.

MRF, the 15th largest tyre company in the world, has been Awarded for continued outstanding performance in Original Equipment Tire Satisfaction.

MRF signs historic five-year agreement with the BCCI.

MRF announces association as Global Partner for ICC Cricket World Cup 2015.

MRF Ranks highest in overall customer satisfaction for a 5th consecutive year, according to JD Power Asia Pacific 2014.

MRF Ltd has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to invest 4500 crore in Tamil Nadu

MRF Ltd - MRF signs AB de Villiers as brand ambassdor

MRF Ltd - MRF in The Forbes India's Super 50 list of Indian Companies

MRF wins the JD Power Award for a record 12th time in 16 years

MRF signs historic five-year agreement with the BCCI

MRF signs MOU to setup plant in Gujarat

MRF Tractor Tyre rated no.1 on J.D. Power customer satisfaction index.

MRF Brand of Car/SUV tyres ranked Highest in Customer Satisfaction. The 13th win for MRF!

MRF Most Awarded Car Tyre in 2018 J D Power India Study.

MRF Ranks highest in Tractor Tyre Customer satisfaction.

MRF introduces ‘Nylogrip Ezeeride’ - which will make every motorcycle ride an Ezeeride.

MRF Launced Steel Brace Radial Tyres for High end bikes.

Company Received MRF 2023 Brand Finance Awards. The Most Valuable Indian Tyre Brand Second Strongest Tyre Brand in the World Ranked in Top 10 in the World for Sustainability.