MRF Limited is one of India's world class manufacturing companies. The company, established in 1946, progressed into manufacturing tread-rubber and entered into the manufacture of tyres in 1961. MRF now enjoys the distinction of being the largest tyre company in the Indian subcontinent and 12th largest in the world. The Far Eastern Economics Review's annual 'Review 200' has consistently rated it amongst India's top 10 companies.
The Chennai-based company, is planning to increase the number of its franchise stores pan-India, confirmed a company’s official. They are also planning to set its seventh facility in Thiruchirapalli in Tamil Nadu by the end of this year to manufacture truck tyres and radials.
MRF is one of India’s leading manufacturer of tyres in almost all segments. MRF has diverse business interests which also include Pretreads, Paint and Coats and Toys. A leader in the category MRF holds the No.1 position for the last 21 years. The fact that it is the first tyre company in India to reach a turnover of 5000 Crores is enough to prove its dominance of this industry.
MRF uses cutting - edge technologies in predictive testing and design validation before it leaves the drawing board. These advances have significantly brought down the time to market for new designs.
Presently, the company has manufacturing units in cities like Goa, Medak in Andhra Pradesh, Tiruvottiyur and Arakkonam in Tamil Nadu, Pondicherry and Kottayam in Kerala. It operates through more than 144 franchised outlets across the nation. These stores not only sell tyres but also offer customer services such as wheel aligning, wheel balances and other maintenance services, all under one roof.
MRF Tyres DGM Rajat N Nangia said the firm was continuously improving capacity. The MRF Tiruchi plant was its seventh production facility. The plant will be making car and truck tyres and radials. He also spoke about the reduced growth of the auto sector. He is expecting growth in car sales could ease by more than 20 per cent this fiscal year.
MRF Tyres is set to increase prices of its products due to the increased commodity costs and input costs. The price hike could be between 5 and 10 per cent. Mr Nangia also stated MRF was in a process to raise Rs. 500 crore ($110 million) through bonds.