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Shareholding Info
  • Promoters
    27.75 %
  • Foreign institutions-FII
    19.41 %
  • Other domestic institutions
    4.12 %
  • Retail and other
    41.38 %
  • Mutual Funds
    7.34 %

About MRF Ltd


MRF (Madras Rubber Factory) Limited is one of the largest companies in India specialising in the production, distribution and sale of tyres. The company is primarily engaged in manufacturing a range of rubber products, including tyres, tubes, flaps, tread rubber and conveyor belt, across vehicle categories. It was founded in 1946 by KM Mammen Mappillai as a small toy balloon unit under the name Madras Rubber Factory.

In November 1960, MRF entered into 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 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, Middle East, Japan and the Pacific region. The company also maintains overseas offices in Dubai, Vietnam and Australia.

MRF made history as its shares, once valued at ₹10 apiece, surpassed the ₹1 lakh mark per piece on June 13, 2023. It became the first Indian company to achieve this milestone.

The market capitalisation of MRF Ltd stood at over ₹50,000 crore as of December 18, 2023. The MRF share price has gained over 55% in the last three years.


Business operations


MRF's tyre production covers a wide spectrum of vehicles from cars and two-wheelers to trucks and buses. Apart from rubber-based items, MRF deals in pretreads, paint coatings and toys. The company’s recent product launches include MRF Wanderer-Sport, an asymmetric tread pattern SUV tyre designed for soft-roading, and the MRF S3P4, a radial tyre focused on mileage for drive axle fitting.

MRF provides its services through MRF T&S (Tyres & Service) centres across the country. These outlets carry the complete selection of MRF tyres and tubes and offer services such as computerised wheel balancing and alignment, automated tyre changing, nitrogen filling and tubeless tyre repairs.

The company's subsidiaries include MRF Lanka Pvt Ltd, MRF Corp Ltd and MRF International Ltd.


MRF Ltd. Financial Highlights


  • The company’s standalone revenue from operations in FY 2022-23 increased to ₹22,578 crore, up an 18.9% year-on-year, compared to ₹18,989 crore in FY 2021-22.
  • Its profit after tax (PAT) in FY23 stood at ₹816 crore compared to ₹647 crore in the preceding financial year.
  • In FY23, the earnings before interest and depreciation (EBITDA) stood at ₹2,666 crore as against ₹2,328 crore in the previous financial year.
  • The earnings per share (EPS) increased to ₹1,813.1 in FY23 from ₹1577.97 in the preceding financial year.
  • In FY23, the total liabilities of MRF Ltd stood at ₹24,369 crore as against ₹23,059 crore in FY22.
  • The company’s net worth increased to ₹14,509 crore in FY23 compared to ₹13,777 in FY22.

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