Started in 1946

LEGACY

The MRF story is a truly remarkable one. What started as a rubber balloon factory with a funding of
Rs.14, 000 way back in the 40’s is now a multibillion legacy that produces quality tyres used all around
India & internationally along with a presence in paints & coats, toys, motorsports and cricket training

ORIGIN

MRF’s origin traces back to the humble shack in Madras that housed its first make-shift toy balloon
manufacturing unit set up by KM Mammen Mappillai in 1946. It was not until 1952 when it changed
course and turned to tread rubber manufacturing. Thus began its glorious reign as the undisputed leader
in the tyre making industry.

INTERNATIONAL

By the early 60’s, MRF was exporting its quality tyres to offices overseas in the U.S. & Beirut and soon
made its presence known globally across 65 different countries - with tyres rolling out of 6
interdependent facilities built across 450 acres, 3000 strong dealer networks and 180 different offices

FORD WORLD EXCELLENCE AWARDS

MRF won the silver award and is the only Indian company to win this excellence award

J D POWER ASIA PACIFIC

MRF won the award for customer satisfaction not once but 11 times till date

MRF Limited sells its products in the replacement/retail market through authorised dealers only
to ensure genuine products and best after sales service to customers. No other websites or online
retailers are authorised by MRF Limited to sell and to make any representation for and on behalf
of MRF Limited and its products. Hence, MRF Limited is not liable to honour any claims,
warranty and/or representations made by any unauthorised retailers (including online retailers) on
MRF Limited products

Funskool

In 1987, MRF along with Hasbro, the US-based leader in children and family leisure-time
products, started a new joint-venture named Funskool India. They started with a vision to
help every child grow into a successful human being. This process helped them to emerge as
the largest toy company in India today.

While small toy stores catered to the mass market, Funskool was eager to increase its
footprint and the visibility of its many products in large formats. To achieve this, it opened
its own retail stores. Funskool boasts a wide presence with as many as 16 warehouses to
serve 4,000 retail outlets. It also opened its first retail store in Chennai for one of its major
partners 'Lego', the building-blocks brand.

Today, after being in the business for 25 years, the company has reported a growth of 20-
25% and has set a target of around Rs 120 crore. With an aim to contribute to a child's
extra-curricular development and a family's entertainment needs, Funskool is geared for
continued innovation to a widening audience

MRF (Madras Rubber Factory) is India’s No.1 tyre manufacturing company. It was started in the year 1946 by K M
Mammen Mappillai as a small toy balloon unit. Much later in November 1960 it ventured into manufacturing of tyres. The
company entered into a technical collaboration with Tire & Rubber company, USA.

In 1964 MRF established an overseas office at Beirut, Lebanon to tap the export market. This was amongst India’s very first
efforts on tyre exports. In 1989 the company collaborated with US–based Hasbro International, the world’s largest toy maker
and launched Funskool India. In the same year it entered into a pact with Vapocure of Australia to manufacture polyurethane
paint formulations and with Pirelli for Muscleflex conveyor and elevator belting.

Currently MRF exports tyres to over 65 countries including America, Europe, Middle East, Japan, and the Pacific region. It
presently has overseas offices in Dubai, Vietnam and Australia.

Products of the company

 Tyres – It manufactures various tyres for passenger cars, two–wheelers, trucks, buses, tractors, light commercial
vehicles and off–the–road tyres.
 Conveyor Belting – It manufactures its Muscleflex brand of conveyor belting at one of the most advanced state–
of–the–art facilities in India. Incorporating the latest manufacturing techniques in processes beginning with
mixing, calendaring and the like to manufacturing of the finished products, all of which is in–house, Muscleflex –
conveyor belting has gained rapid acceptance in markets worldwide.
 Pretreads – It is the most advanced precured retreading system in India. MRF forayed into retreading as far back as
1970. Today, MRF has perfected the art of recured retreading with its extensive knowledge in tyres and rubber.

Awards

 It was awarded as Most Trusted Tyre Company in India by TNS 2006 global CSR study.
 The company won the J D Power Asia Pacific award for customer satisfaction seven times.
 MRF was honoured with CAPEXIL award as acknowledgement for its export performance.
 2013 Won the JD power award for the 10th time.

History

 1946 – A young entrepreneur, K M Mammen Mappillai, opened a small toy balloon manufacturing unit in a shed
at Tiruvottiyur, Madras (now Chennai).
 1949 – 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.
 1949 – During this time, MRF established its first office at 334, Thambu Chetty Street, Madras (now Chennai),
Tamil Nadu, India.
 1952 – 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.
 1956 – 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 gradually withdraw from the tread rubber
business in India.
 1961 – With the success achieved in tread rubber, MRF entered into the manufacture of tyres. MRF established a
technical collaboration with the Mansfield Tire & Rubber Company of USA. Around the same time, it also became
a public company.
 1961 – It set up a pilot plant for tyre manufacture at Tiruvottiyur, Madras (now Chennai). The late chief minister
of Madras K Kamaraj released the first tyre from the tyre plant.
 1963 – On June 12, 1963, India's first prime minister, late Pandit Jawaharlal Nehru laid the foundation stone for
the Rubber Research Centre at Tiruvottiyur to commemorate the inauguration of the Tiruvottiyur factory.
 1964 – 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 on tyre exports. This year also marked the birth of the now famous MRF Muscleman.
 1967 – MRF became the first Indian company to export tyres to the US –– the very birthplace of tyre technology.
 1970 – MRF inaugurates its Kottayam unit.
 1971 – MRF opens its factory in Goa.
 1972 – MRF's Arakkonam plant is inaugurated.
 1973 – MRF scored a major breakthrough by being among the very first in India to manufacture and market nylon
passenger tyres commercially.
 1978 – MRF developed 'MRF Superlug–78', a sturdy tyre for heavy–duty trucks. The tyre was a significant
improvement over its existing products and went on to become the country's largest selling truck tyre in later years.
 1979 – MRF's turnover crossed Rs 1 billion.
 1980 – MRF entered into a technical collaboration with the B F Goodrich Tyre Company of USA, which was
involved with the development of tyres for the NASA space–shuttle. With this began a significant exercise in
quality improvement and new product development.
 1984 – Sales crossed Rs 2 billion.
 1984 – MRF tyres were the first tyres selected for fitment onto the Maruti Suzuki 800 – India's first small, modern
car.
 1985 – MRF Nylogrip tyres for two–wheeler vehicles were launched.
 1986 – MRF was selected by the National Institution of Quality Assurance for its most prestigious award. Pitted
against 20 tyre companies worldwide, MRF also won 6 quality improvement awards instituted by the B F
Goodrich Tyre Company from USA.
 1987 – MRF crossed the Rs 3 billion mark and also became the No. 1 tyre company in India. MRF Legend, the
premium nylon car tyre was introduced.
 1988 – 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.
 1989 – MRF was the clear market leader in every tyre segment. Once again, in recognition of excellence, MRF
was awarded the Visvesvaraya Award for the Best Business House in South India.
 1989 – MRF collaborated with Hasbro International USA, the world's largest toy maker and launched Funskool
India. The company also entered into collaborations with Vapocure, Australia to manufacture polyurethane paint
formulations and with Pirelli for Muscleflex conveyor and elevator belting.
 1989 – MRF also opened the MRF Tyredrome, India's first tyre company–owned wheel care complex at Chennai.
 1990 – MRF brought the 6th World Cup Boxing Championship to Mumbai – the first of its kind with 39 countries
participating.
 1993 – 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 until that time.
 1993 – MRF became the first tyre company in India to cross the Rs 10 billion mark.
 1993 – In 1993 and 1995, 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. During the same time MRF was selected as one of India's most
admired marketing companies by the readers of the A & M magazine.
 1995 – The company's turnover crossed Rs 15 billion. MRF was chosen for fitment on the Daewoo Cielo.
 1996 – A special factory dedicated entirely to the manufacture of radials was started at Pondicherry.
 1996 – MRF Tyres were also chosen for fitment on the Ford Escort, Opel Astra and Fiat Uno, further proof of its
superior quality.
 1997 – MRF launches its first ever F3 car.
 1998 –  MRF launches its Super Lug tyre for trucks.
 2000 – MRF launched the Smile campaign on Indian roads and also Launched ZVTS tyres for passenger cars.
 2001 – The MRF rally team wins the APRC rally.
 2002 – The MRF Nylogrip Zapper for two–wheelers is launched.
 2002 – MRF wins the JD Power award.
  2003 – MRF registers its second APRC victory.
 2004 – MRF's turnover crossed INR 30 billion mark.
 2005 – MRF wins its third APRC rally.
 2006 – MRF's turnover crosses the Rs 5000 crore mark.
 2007 – Australian PM visits the MRF Pace Foundation.
 2007 – MRF launches the Super Lug 505 – A premium mileage, rear fitment truck tyre for national highway
operations on rated roads and also launched the Super Lug FS which many users claim to have provided them fuel
savings.
 2009 – Tyre manufacturing major MRF has launched a new series of tyres under the brand ‘Wanderer’

Competition
Name Last Price Market Cap. Sales Net Profit Total Assets
(Rs. cr.) Turnover
MRF 30,323.20 12,860.50 12,131.16 802.21 4,489.23
Apollo Tyres 206.60 10,516.45 8,711.73 442.62 3,634.22
Balkrishna Ind 723.40 6,992.28 3,576.72 488.38 4,228.81
Ceat 836.70 3,008.41 5,354.81 253.78 1,550.49
JK Tyre & Ind 501.40 2,058.72 5,951.08 134.68 3,056.59
TVS Srichakra 1,074.80 822.98 1,670.99 47.45 468.66
PTL Enterprises 44.90 297.19 40.00 17.62 125.01
Elgi Rubber 30.15 150.90 196.29 18.87 217.11

Comparison with Competitors

MRF

 Balance Sheet

 P&L Account

 Cash Flows

 Quarterly

 Half Yearly

 9 Monthly

MRF Apollo Tyres Balkrishna Ind Ceat JK Tyre & Ind

Sep '12 Mar '14 Mar '14 Mar '13 Mar '14

Sources Of Funds
Total Share Capital 4.24 50.41 19.33 34.24 41.06
Equity Share Capital 4.24 50.41 19.33 34.24 41.06
Share Application Money 0.00 10.78 0.00 3.64 12.37
Preference Share Capital 0.00 0.00 0.00 0.00 0.00
Reserves 2,853.5 2,678.63 1,865.47 708.77 794.99
 6
Revaluation Reserves 0.00 0.00 0.00 0.00 0.00
2,857.8
Networth 2,739.82 1,884.80 746.65 848.42
0
1,433.3
Secured Loans 743.89 2,064.84 682.16 1,985.16
4
Unsecured Loans 198.09 150.51 279.16 121.67 223.01
1,631.4
Total Debt 894.40 2,344.00 803.83 2,208.17
3
4,489.2
Total Liabilities 3,634.22 4,228.80 1,550.48 3,056.59
3
MRF Apollo Tyres Balkrishna Ind Ceat JK Tyre & Ind

Sep '12 Mar '14 Mar '14 Mar '13 Mar '14

Application Of Funds
5,049.0
Gross Block 4,776.72 2,997.82 2,150.94 3,850.82
3
2,135.2
Less: Accum. Depreciation 1,523.14 668.37 648.01 1,577.18
3
2,913.8
Net Block 3,253.58 2,329.45 1,502.93 2,273.64
0
Capital Work in Progress 414.65 34.97 476.34 9.94 143.32
Investments 424.71 651.46 426.51 44.71 101.76
1,645.5
Inventories 1,283.69 529.08 531.44 765.70
9
1,454.0
Sundry Debtors 240.55 618.47 635.75 1,186.37
9
Cash and Bank Balance 61.10 221.11 9.80 81.35 177.78
3,160.7
Total Current Assets 1,745.35 1,157.35 1,248.54 2,129.85
8
Loans and Advances 298.33 426.64 484.38 250.04 471.19
Fixed Deposits 0.00 0.00 0.00 0.00 0.00
3,459.1
Total CA, Loans & Advances 2,171.99 1,641.73 1,498.58 2,601.04
1
Deffered Credit 0.00 0.00 0.00 0.00 0.00
2,488.5
Current Liabilities 2,193.00 617.60 1,428.23 1,923.59
1
Provisions 234.53 284.78 27.62 77.44 139.58
2,723.0
Total CL & Provisions 2,477.78 645.22 1,505.67 2,063.17
4
Net Current Assets 736.07 -305.79 996.51 -7.09 537.87
Miscellaneous Expenses 0.00 0.00 0.00 0.00 0.00
4,489.2
Total Assets 3,634.22 4,228.81 1,550.49 3,056.59
3

Contingent Liabilities 614.38 306.46 1,314.62 364.74 701.41

6,738.2
Book Value (Rs) 54.14 195.00 216.98 203.62
8

Source : Dion Global Solutions Limited

The Top 5 Rubber Producing Countries

Production 2011 Perc

  Country % of World Total
(metric tonnes)

1 Thailand 3,348,897 m/t 29.6%

2 Indonesia 3,088,400 m/t 27.3%

3 Malaysia 996,673 m/t 8.8%

4 India 891,344 m/t 7.9%

5 Viet Nam 789,635 m/t 7.0%

Sources:  FAOSTAT data, 2013 (last accessed by Top 5 of Anything: Jan 2014).