History of MRF Ltd.


- A young entrepreneur, K. M. Mammen Mappillai, opened a small toy balloon manufacturing unit in a shed at Tiruvottiyur, Madras [now Chennais].


- Although the 'factory' was just a small shed without any machines, a variety of products, ranging from balloons & latex-cast squeaking toys to industrial gloves & contraceptives, were produced. During this time, MRF established its first office at 334, Thambu Chetty Street, Madras [now Chennais], 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 & cushion-backed tread-rubber, enabling it to compete with the MNC operating in India at that time.

A. that the large multinationals had no other option but to withdraw from the tread rubber business in India. also produces other industrial products made of rubber like conveyer belt.The Comp.The Madras Rubber Factory Private Limited was converted into a public company on 1st April.2. Mansfield. . Ohio. 1962 . aircraft. 1960 . 2. So effective was MRF hold on the market. The tyres are sold under the trade name 'Masnfield Tyres [MRFs]'. Manufacture automobile. The Comp. hoses etc. The Comp.650 shares allotted without payment in cash.1956 -The quality of product manufactured was of such a high standard that by close of 1956..49.000 shares reserved & allotted directors. cycle tyres and tubes in collaboration with the Mansfield Tire and Rubber Co.50. The balance 2.50.. was incorporated as a private limited Comp.S.S.S. The Company was given permission to export tyres having 'Mansfield' trade mark to all world markets except U. . etc. & Canada. & additional capital was issued in order to start the manufacture of automobile tyres & tubes in collaboration with the Mansfield Tire and Rubber Co. U. U. 1961 . Mansfield. on 5th November.00. MRF had become the market leader with a 50% share of tread-rubber market in India. for a consideration of Rs 25 lakhs. 5. 350 shares subscribed for by signatories to the Memorandum of Association.The main plant for production of tyres & tubes were commissioned on 4th December.000 shares allotted to collaborators as payment for machinery.A.A. It took over the entire business of Madras Rubber Factory as a going concern as from 16th November.000 shares issued to public in April 1961. Ohio.

1964 .1963 .Nylon Hot-Stretch Unit of latest design was commissioned in November. 1975 .000 Right Equity shares offered at par in the proportion 1:2.In March.the very birthplace of tyre technology.MRF became the first Indian Comp.62. 1973 . to export tyres to USA . This year also marked the birth of now famous MRF Muscleman.25. An overseas office at Beirut [Lebanons] was established to develop the export market.6. MRF also made progress in the export of tyres.500 bonus equity shares issued in the proportion 3:10.With the commissioning of main plant in 1964.MRF scored a major breakthrough by being among the very first in India to manufacture & market Nylon tyres. 5. & it was amongst India very first efforts. 1970 . 1967 . .

. .689 shares were taken ups]. U... 1980 .The Comp. 1979 . at a premium of Rs 4 each as follows: 3.587 shares to the existing resident Indian shareholders & non-resident Indian shareholders [on non-repatriation basiss] in proportion 1:10 & 25.537 No.250 No.S.18. This agreement was revalidated for further five years.A.F. Goodrich Co. offered for their balance shareholding of 3. It went into technical collaboration with BF Goodrich Tire Co.S.. [Only 12. The name of Company.S.A. 1978 .The Comp..29.74. finalised a technical know-how collaboration with B. crossed several milestones in its history.During September. 1981 .. of Equity shares of Rs 10 each in the Company at a premium of Rs 4 per share as follows: 3.786 shares as rights to the existing shareholders in the proportion 1:8 & 10.55. business associates & dealers of the Company.950 shares to the Indian employees. U. of Equity shares of Rs 10 each of Comp.Mansfield Tire and Rubber Co.The Masfield Tire and Rubber Co. offered for sale out of its holding 3. of U. Madras Rubber Factory limited was changed to MRF Ltd in the year.63.714 bonus shares issued in proportion 1:2.18. USA in the year.A. 12.464 shares to the employees of Company. which became fully operative in early 1980-81.

Under the non-cumulative interest payment scheme. 1993.The Comp. Italy for supply of know-how for manufacture pre-cured tread rubber for retreading industry.000 No. Goodrich and Co.India first small. finalised a technical collaboration agreement with M/s. these debentures are redeemable in 3 annual instalments of Rs 35 each commencing on 8th May. modern car. 1985 . 1993 at a premium of 5% in the first instalment. MRF tyres were the first tyres selected for fitment onto the Maruti Suzuki 800 .. Plans were also on hand to go in for a joint venture with the aero tyre division of B. issued 15% non-convertible debentures of Rs 100 each [II Seriess] for Rs 8 croes as rights to the existing shareholders to raise finances for modernisation of Company. Italy. 1987 . Under Cumulative interest payment scheme. Marangoni TRS SPA. 1983 . 1982 to IFCI at a premium of Rs 5 per shares on conversion of loans. for retreading & subsequently for manufacturing aircraft tyres..The Comp.A letter of intent was obtained for manufacture of conveyor beltings & hoses in collaboration with Industiral Pirelli SPA.Sales crossed INR two billion. of Equity shares allotted in Feb.F. 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. 1984 . 1986 .2.00.

.S.000 tonnes per annum was being set up at Gummidipoondi in Tamil Nadu. a subsidiary of Michelin Cie. The plant with an installed capacity of 10. . .5 million number of tyres & tubes per annum.A. Funskool [Indias]. 1989 . U.A. the World largest toy makers. Dennis Lillee as its Director.000 tonnes per annum by using indigenous technology developed by Company. Goodrich Co.. MRTP clearance was also obtained for setting up a new plant at Tada in Andhra Pradesh for manufacrure of 1. pace bowlers trained at the Foundation were selected for Indian Cricket Team. USA was taken over by Michelin Cie of France.The Comp. RBI.Aero tyre division of B... limited & `Crystal Investment & Finance Co.[18 monthss]. .. 1988 . to get priority treatment in several areas concerned with customs. France.' became subsidiaries of Company. for imparting latest technology for bias ply/radial aircraft tyres for a period of 5 years. . entered into a collaboration agreement with Vapocure of Austraia to manufacture polyurethane paint formulations that can be rapidly cured at room temperature & would also help in the manufacture of shatterproof glass. . Not long thereafter.`Funskool [Indias].F.The MRF Pace Foundation was set up. obtained MRTP clearance & a letter of intent for manufacture of pre-cured tread rubber upto 6. a status that enables the Comp. The Comp. with international pace bowler.. Ltd.S. U.Government approved the technical collaboration with Uniroyal Goodrich Tire Co. was identified as `Star Exporter'. etc. limited was promoted in collaboration with Hasbro International.The Comp.

000 . 1997. 25 equity shares were allotted to the erstwhile sharehodleres of ALEL. . Hongkong. .000 No. .[6 monthss].00. .00. in view of tremendous growth potential in the export market. Ltd.000 shares of Rs 10 each fully paidup held in ALEL.3. 1991 . privately placed with SBI Mutual Fund 10.The Comp.000 . Accordingly.14% non-convertible debentures of Rs 100 each [III Seriess]. introduced `Vapocure' colours in the market.000 .00. 1998.The Comp.The Comp.14% debentures [IVth Seriess] which are redeemable at a premium of 5% on 26th June. privately placed 15. the Comp. .1990 . MRF International.. limited These debentures are redeemable in three annual instalments at a premium of 5% commencing from 23rd July. As per the scheme one equity share of Rs 10 each of MRF limited was allotted for every 10. viz.14% debentures were also privately placed with Infrastructure Leasing and Financial Services.85. Rs 242 per shares] to the foreign collaborators M/s.The Aruna Leathers and Exports limited was amalgamated with the Company.During the year 5. 1997. of equity shares issued to [prem. promoted a new Comp.at a premium of 5% in three annual instalments of Rs 35 each commencing from 31st July. The debentures are redeemable . Asia Trading Services. 1992 .

M. has formed a new Company.The Comp. MRF INTERNATIONAL LIMITED and the Comp.K. as one of ten leading Corporate Groups in India & a Leader in Asia. 1995 .the only industrialist from South India to be accorded this honour. 1993 . . has received an award from CAPEXIL . & by readers of A and M magazine..MRF Ltd has been assigned a credit rating of `PR1+' [superiors] for its proposed Rs 100 crore commercial paper [CPs] programme by Credit Analysis & Research Ltd [CAREs]. . In addition.Certificate of Merit based on the export performance for year. the Comp. as one of India most admired Marketing Companies. was voted by Far Eastern Economic Review. 1997 . Mammen Mappillai was awarded the Padmashri Award of National Recognition for his contribution to industry . has received the certificate of commencement of business.The Comp. viz. in India to cross the INR 10 billion mark. 1996 .The Far Eastern Economic Review Award was presented to MRF for the fourth year in succession in recognition of excellence.The Comp.. MRF also became the first tyre Comp. has received the Top Export Award for year from All India Rubber Industries Association.

MRF Tyres has signed an OEM [original equipment manufacturers] alliance with Siel Honda Motors & Hindustan Motors.. USA. which held 9. National Securities Depository limited [NSDL] and Central Depository Services [Indias] Ltd. .MRF has launched Nylogrip Zapper. a high performance tyre for new generation bikes.MRF is setting up a new plant in Pondicherry for production of radial tyres. tied up with Uniroyal Goodrich Tire Co. .MRF began manufacturing tyres & tubes in technical collaboration with Mansfield Tire & Rubber Company. . a subsidiary of French Tyre giant Michelin. 1999 . set up the Arakonam plant in Chennai to produce bicycle tyres & tubes. 1998 .The Comp. .The Comp. . .8 per cent stake in the company.The Comp.. .MRF has launched a market sampling operation for MRF Zigma. has entered into agreements with the Depositories viz. of USA.MRF Ltd has decided to set up more such clinics in Northern and Western cities.

2002 -MRF was ranked highest in customer satisfaction along with multinational Bridgestone in a study conducted by JD Power Asia pacific. -High court dismisses the writ petition filed by MRF Employees Union challenging the order of dismissal of worker. -Advertising Standard Council of India Quashed the objection raised by MRF by upholding J K Industries claim of being India Number one tyre maker in the four wheeler segment..MRF has launched a steel-belted premium radial tyre variant called `MRF ZVTS'.The Comp. . 2000 .AIRIA Highest Export Award was given in recognition of our outstanding export performance in respect of Auto Tyres and Tubes during the year. has set up shop in Dubai to target markets in the UAE as part of its export thrust. 2003 . who was the secretary of union. -MRF Tyres Ltd sees slump in commercial vehicle tyre market & passenger car growth has also declined. -MRF Ltd has obtained the 'Outstanding Corporate Sports Initiative' award from the Federation of Indian Chamber of Commerce & Industry.

. durability. Managing Director Mr. . traction & handling.f April 01.D Khanna has ceased to be the Director of company. w. -Mr.-MRF & Bridgestone are ranked highest in a tie for second year in a row in customer satisfaction with original tries according to JD Power Asia Pacific. Arun Mammen as Managing Director of Comp. K S Narayanan has resigned from the board of MRF. -Mr. 2004. consequent to his resignation from the Board of Directors.e. 2004.C. 2004 -MRF limited has informed that Mr Ravi Mannath has been appointed as Additional Comp. w.N Kumar & Mr Ranjit Issac Jesudasen have been appointed as the directors of company.f. -Mrf limited has informed the Exchange that at its meeting held on December 19.MRF Tyres is the biggest consumer of natural rubber in India during 2002-03 -Ties up with Maruti Udyog to boost motorsports in India . with effect from April 17. Secretary of Comp.M.Mr K S Narayanan ceased to be director of Comp.e. Mammen Mappillai. January 05. -MRF received the highest rankings in the study in four of five factors determining overall satisfaction with tyres appearance. And Mr. -Shri K. 2003 the BOD have redesignated Jt. Chairman & Managing Director expired on march 2nd. 2003.

2009 . and 2. to fill the casual vacancy caused due to the demise of Director Mr. Appointed Mr. 2009. inter alia. Appointed Dr.2007 -MRF Ltd launches premium truck tyre Super Lug 50-FS. Sanjay Sharad Vaidya as a Director of Comp. with effect from January 23. . Salim Joseph Thomas as an Additional Director of Comp.MRF Ltd has informed BSE that the Board of Directors of Comp. at its meeting held on January 23. 2009. has transacted the following: 1. S Nandagopal.

Sign up to vote on this title
UsefulNot useful