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MRF - The first Indian tyre manufacturer to corss Rs. 10,000 Crore turnover

MRF sculpted logo
MRF (formerly Madras Rubber Factory, at present Manorama Rubber Factory), has crossed Rs. 10, 000 Crore turnover becoming the first Indian Tyre manufacturer to achieve the well deserved milepost. The growth in the revenues are evidenced through the recent press release by the biggest vehicle Tyre manufacturer from India.

Addressing to the press conference on Monday in Chennai, the Chairman and Managing Director of MRF, K.M Mammen has announced the company has crossed Rs. 10,000 Crore turnover comfortably yet facing the challenging 2010. According to the press release, MRF has seen 30% more compared to the last year's.

In 2010, MRF has registered it's net worth as Rs. 8,080 Crores which now has been increased to Rs. 10,000 Crore for 2011.

Exulting over the achievement, the MRF Chairperson, Mr. Mammen has said the revenue is a good mix from original equipment manufacturers who have given 20 percent along with exports of 10 percent and 70 percent from replacement market.

Bestowing credit to well done bottom line of MRF, the panel has affirmed a combination of factors such as inverted import duty structure on natural rubber, low import duty on finished tyres helped the Madras based tyre manufacturer achieve Rs. 10,000 Crore milestone. However, from the press conference on Monday, it has been surfaced that MRF is eyeing on overseas acquisition of plantation business as a part of look around the world for opportunities.

Well, all set and done, the 62 year old Indian tyre manufacturer reaching Rs. 10,000 Crore milestone is somehow posing the future rubber (especially tyres) industry in India will stretch it's corridors.
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