Indian tyre maker MRF Limited reports income of Rs 150.1 billion (£1.8 billion) for the 12 months to 31 March 2017. Net profit for the year came to Rs 14.5 billion (£174.6 million), and the company’s Board of Directors has recommended a final dividend of Rs 54 per share.
MRF Limited has appointed Arun Mammen the company’s vice-chairman, effective immediately. He retains the role of managing director.
Tyre firms present included Pirelli, Yokohama, Toyo, Landsail, MRF and Davanti In addition, the Motorsport Industry Association (MIA) welcomed Mark Garnier MP, the Parliamentary Under Secretary for the Department of International Trade (DIT), to the annual global motorsport showcase at the show. Garnier, who is also MP for Wyre Forest, leads on high value export […]
News of MRF Ltd.’s plan to set up a new factory in India’s Gujarat state first circulated towards the end of 2015, and now the tyre maker reports signing a Memorandum of Understanding with the state government that sets out its in-principle intention to erect a manufacturing facility there.
MRF Tyre has confirmed it will exhibit at Tyre & Rubber Indonesia 2017 from 29 March – 1 April 2017 at JIExpo Kemayoran Jakarta, Indonesia.
India’s MRF Ltd. has reported stable sales for the three months to 30 June 2016. Net income during the quarter amounted to Rs 34.82 billion (£402.22 million), up from Rs 34.77 a year earlier. Standalone net profit rose 2.3 per cent to Rs 4.91 billion (£56.72 million).
India’s MRF Ltd has posted net profit of Rs 3.76 billion (£39.1 million) for the quarter ended 31 March 31, 2016, up 7.6 per cent year-on-year. Total income increased 3.7 per cent to Rs 34.56 billion (£359.2 million).
Bridgestone and MRF have tied for first place in JD Power’s latest India Original Equipment Tire Customer Satisfaction Index (TCSI) Study. However, while they both ranked first in overall customer satisfaction, scoring 881. Bridgestone performed well in terms of ride (883) and MRF performed particularly well in appearance (884). Apollo came third, with JK Tyre fourth and Goodyear in fifth.
The global profile of sport in India has been growing with the country’s economic prosperity, signified primarily by the wealth and interest of cricket’s Indian Premier League. Now the potential for it to become a significant global player in motorsport has been trumpeted by tyre manufacturer – and sporting equipment supplier – MRF. The manufacturer suggests a podium from the final races of the MRF Challenge series at Chennai symbolises India’s emergence; on the top step is Pietro Fittipaldi (grandson of Emerson), 2nd is Harrison Newey (son of Adrian), and 3rd is Mick Schumacher (son of Michael).
India’s largest tyre maker, MRF Ltd, has announced its unaudited standalone results for the quarter ending 31 December 2015. The company reports total income of Rs 33786.3 million (£349.9 million) for the period, 2.9 per cent less than the October to December 2014 quarter. Net profit stood at Rs 3881.5 million (£40.2 million) for the quarter, 20.0 per cent higher than a year earlier.
Not only has leading Indian tyre maker MRF Tyres, launched its MRF Motorsport Tyres Europe operation during Autosport International 2016, the firm is also considering importing its passenger car tyres into Europe in the years to come. While MRF has been exporting to between 60 and 70 countries worldwide for some time now the majority of these are in Asia, with others in the Middle East, Africa and South America. A few speciality products aside, MRF hasn’t really been exporting to Europe before now.
Leading Indian tyre maker MRF Tyres is launching its MRF Motorsport Tyres Europe operation during Autosport International 2016. This means the Indian brand, which is well known on the sub-continent, but has yet to make such a big splash outside Asia, will now be available to UK and European customers.
Tyre maker MRF Ltd reportedly plans to build a new manufacturing facility in India’s Gujarat state. According to a state government official quoted in The Times of India, the company is looking at a greenfield site in Bharuch.
India’s MRF Ltd has reportedly received approval from the government of Telangana to instigate an Rs 9 billion (£89.5 million) expansion of its Sadasivpet tyre factory in the state’s Medak district. The company first made its expansion plans public in April 2015, quoting an investment sum of Rs 9.8 billion and claiming the project would create an additional 900 jobs. The Sadasivpet announcement followed news in March 2015 that the tyre maker would invest Rs 45 billion in an ‘ultra mega project’ to expand its Perambalur and Arakonam plants in Tamil Nadu.
Indian tyre maker MRF Ltd reports it has signed a Memorandum of Understanding with the Government of Tamil Nadu to invest at least Rs 45 billion (£446.4 million) in two plants located within the state over a seven-year period.
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