MRF (company)

Madras Rubber Factory limited
Public
Traded as BSE: 500290
NSE: MRF
ISIN INE883A01011
Industry
Founded Tiruvottiyur, Madras, Tamil Nadu, India (1946 (1946))
Founder K. M. Mammen Mappillai
Headquarters Chennai, Tamilnadu, India
Key people
 Late K.M.Mammen (Chairman & MD)
Products
Revenue Increase ₹13,444.75 crore (US$2.1 billion) (2013)
Increase ₹13,482.15 crore (US$2.1 billion) (2013)
Profit Increase ₹802.21 crore (US$130 million) (2013)
Total assets Increase ₹5,834.14 crore (US$910 million) (2013)
Total equity Increase ₹3,645.14 crore (US$570 million) (2013)
Number of employees
 15,494 (2011)
Website www.mrftyres.com

Madras Rubber Factory Limited, commonly known by the abbreviation MRF, is an Indian multinational and the largest manufacturer of tyres in India.[1] It is headquartered in Chennai, India.[2] The company manufactures rubber products including tyres, treads, tubes and conveyor belts, paints and toys.[3] MRF also runs the MRF Pace Foundation, Chennai and MRF Challenge in motorsport.

History

Madras Rubber Factory was started by K M Mathew as a toy balloon manufacturing unit in 1946 at Tiruvottiyur, 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.[1] 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.[1] In 1967, it became the first Indian company to export tyres to USA.[4]

In 1973, MRF started manufacturing Nylon tyres for the first time. The Company entered into with a technical know-how collaboration with B.FGoodrich in 1978.[5] 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 finalized 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.[1] In 1989, the company collaborated with Hasbro International United States, 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.[5] During the year 2004-05, the product range of the company expanded with Go-kart & rally tyres and tyres for two/three wheelers.

Products

Manufacturing facilities

The company has manufacturing facilities for tyres at Kottayam in Kerala, Puduchery, Arakonam and trichy 2 plants Perambalur in Tamil Nadu, Medak in Telangana has two facilities one recently opened.[5] The company manufactures toys at its facility in Goa. The paints and coats are manufactured at two facilities in Chennai, Tamil Nadu.[6]

Funskool

Funskool India was established in 1987 in collaboration with Hasbro toys, USA. 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 from Disney, Warner Brothers, Rummikub, Dora and . Funskool also has partnerships with renowned toy brands Hasbro, Lego, Hornby, Ravensburger, Tomy Toys, Leap Frog, Siku, Jumbo and New Bright for manufacture and marketing in India.[7]

Motorsports

MRF Racing

MRF built its first Formula 3 car in 1997.[8] MRF in collaboration with Maruti established the Formula Maruti racing, a single-seater, open wheel class motorsport racing event for race cars made in India.[1] MRF Challenge is a Formula 2000 open-wheel motorsport formula based series organized by Madras Motor Sports Club in association with MRF. The latest season consisted of races organized at Madras Motor Racing Track, Chennai, Bahrain International Circuit, Losail International Circuit, Doha and Buddh International Circuit, Noida. Freddie Hunt, son of 1976 Formula One champion James Hunt and Mathias Lauda, son of 1975, 1977 and 1984 Formula One champion Niki Lauda both competed in the series.[9] MRF has sponsored Indian racing drivers including Narain Karthikeyan, Karun Chandok, Ashwin Sundar, N. Leelakrishnan and Raj Bharath.

MRF Rally Team

MRF have also been a long-running sponsor of MRF rally team participating in Asia-Pacific Rally Championship and Indian National Rally Championship. Associating with Czech car manufacturer Škoda, MRF Skoda is the three time reigning champion in Asia-Pacific Rally Championship with Chris Atkinson winning in 2012, Gaurav Gill in 2013 and Jan Kopecký in 2014.[10] MRF also participates in Raid De Himalaya, the world's highest rally.[11]

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.[8]

MRF Karting

MRF sponsors major karting championships in India. MRF is the first Indian tyre company to develop FIA approved karting tyres.:[8]-)

Cricket

MRF Pace Foundation

MRF Pace Foundation is a coaching clinic for training fast bowlers established by MRF with the help of former Australian pace spearhead Dennis Lillee in 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 the Indian Cricket Team include Javagal Srinath, Irfan Pathan, Munaf Patel, Venkatesh Prasad, R. P. Singh, Zaheer Khan and S Sreesanth. Besides Indian players, foreign players like Chaminda Vaas, Henry Olonga, Heath Streak and Australian fast bowlers Glenn McGrath, 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.[12]

Endorsement

MRF had been the bat sponsor for many greats of the game. Batting legends Sachin Tendulkar, Brian Lara and Steve Waugh have endorsed MRF and have reached milestones in their respective careers with MRF bats.[13] MRF has also sponsored Indian batsmen Rohit Sharma,[14] Gautam Gambhir and Sanju Samson. Currently MRF is endorsed by star batsmen Shikhar Dhawan, Virat Kohli[15] and AB de Villiers.[16]

Previous Endorsements

Current Endorsements

Sponsorship

At IPL 2010, MRF sponsored moored balloons floating above the cricket grounds with a high-definition camera recording live actions of the cricket match. MRF joined as a global partner of International Cricket Council for 2015 Cricket World Cup.[17]

Awards and recognition

MRF won the JD Power Award for the record 11th time in 2014.[18] 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.[19]

References

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