Established in: 1946
Managing director: Arun Mammen
MRF Limited (Madras Rubber Factory) is one of the largest tyre manufacturing companies in India, known for quality, performance and durability. MRF is mainly engaged in manufacturing a range of rubber products, including tyres, tubes, flaps, tread rubber, and conveyor belts, across various categories.
From passenger vehicles to commercial trucks and two-wheelers, MRF tyres are used across all segments. Apart from rubber-based products, MRF deals in pretreads, paint coating and toys.
MRF Limited’s latest product launches include MRF Wanderer-Sport, an SUV tyre designed for soft-roading and MRF S3P4, a radical tyre focused on mileage for axle fitting.
MRF Limited has built a strong brand value through continuous innovation, a wide manufacturing footprint, and a powerful brand presence. The company’s subsidiaries include MRF Lanka Private Limited, MRF Corp Limited and MRF International Limited.
History of MRF Limited
MRF Limited began its journey in 1946, founded by KM Mammen Mappillai as a small rubber balloon manufacturing unit in Chennai. The manufacturing unit was named Madras Rubber Factory.
In November 1960, MRF Limited entered the tyre manufacturing segment. This came after a technical collaboration with Tyre & Rubber Company, USA. By 1964, MRF established an overseas office in Beirut, Lebanon, to facilitate the export of tyres.
MRF was one of the first players in the sector in India to export tyres. In 1989, the company partnered with the US-based Hasbro International, the world's largest toy maker.
Simultaneously, MRF also signed agreements with Vapocure of Australia for manufacturing polyurethane paint formulations and with Pirelli for Muscleflex conveyor and elevator belts.
After several partnerships and collaborations, MRF emerged as India’s top tyre manufacturing company.
Currently, MRF exports tyres to more than 65 countries across the United States, Europe, the Middle East, Japan and the Pacific region. The company also maintains overseas offices in Dubai, Vietnam and Australia.
MRF Limited Business Segments
Presently, MRF Limited's business is divided into five core segments.
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Passenger Vehicle Tyres: It’s the MRF’s core and most visible business segment, which covers tyres for cars and SUVs. Tyres for this segment focus on comfort, safety, mileage and performance.
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Two-Wheeler Tyres: In this segment, MRF manufactures tyres for motorcycles and scooters, catering to both premium bikes and everyday use non-premium bikes.
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Commercial Vehicle Tyres: It manufactures types for buses, trucks and light commercial vehicles, built for heavy loads and long distances.
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Off-Road Tyres: These tyres are used in sectors like mining, construction and agriculture, where durability is critical.
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Rubber-based Products: MRF also manufactures conveyor belts, tread rubber and other industrial rubber products.
MRF Limited Revenue Model
MRF Limited earn through the sale of tyres across domestic and international markets. It supplies tyres directly to the vehicle manufacturers and dealers for the replacement demand.
With a steady aftermarket business, strong brand pricing, exports, and MRF had a diversified revenue model.
Costliest Share in India: MRF Share Price
MRF share price surpassed the ₹1 lakh per share mark in NSE and BSE exchanges on June 13, 2023. It became the first Indian company to achieve this milestone and was tagged as one of the most costly shares in India. However, the MRF share price looks costly because the management didn’t do a stock split to keep the speculative activities low.
MRF Limited Financial Performance (FY25 vs FY24)
Revenue: MRF Limited reported consolidated revenue of ₹28,561.29 crore in FY25 vs ₹25,486.05 crore in FY24. It showed an increase of 12.06% on a yearly basis, reflecting decent growth.
Operating Profit: The company reported an operating profit of ₹2,479 crore in FY25 vs ₹2787.42 crore in FY24. It showed a decline of -11.06% on a year-on-year basis, indicating that the company's operating profit remained under pressure.
Net Profit: MRF Limited reported a net profit of ₹1,869.29 crore in FY25 compared to ₹2,081.23 crore in FY24. It showed a decrease of -10% on a yearly basis, indicating a mild negative performance.
MRF Financial Highlights
- Revenue: MRF reported revenue of ₹31,653.64 crore in FY26 vs ₹28,569.65 crore in FY25. It showed an increase of 10.79% on a yearly basis.
- Operating Profit: MRF reported an operating profit of ₹3,222.14 crore in FY26 vs ₹2,483.00 crore in FY25. It showed an increase of 29.77% on a year-on-year basis.
- Net Profit: MRF reported a net profit of ₹2,426.10 crore in FY26 vs ₹1,873.29 crore in FY25. It showed an increase of 29.51% on a yearly basis.
MRF Quarterly Result Highlights
- MRF reported revenue of ₹8,183.28 crore in Mar 2026, compared with ₹8,177.13 crore in Dec 2025, representing an increase of 0.08% on a quarter-on-quarter (QoQ) basis.
- MRF reported an operating profit of ₹929.73 crore in Mar 2026, compared with ₹920.13 crore in Dec 2025, representing an increase of 1.04% on a quarter-on-quarter (QoQ) basis.
- MRF reported a profit of ₹702.25 crore in Mar 2026, compared with ₹694.60 crore in Dec 2025, reflecting an increase of 1.10% on a QoQ basis.
- The earnings per share (EPS) of MRF stood at ₹5,720.39 during Mar 2026.
