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MRF i.e. Madras Rubber Factory, a tire manufacturing company in India, has made a profit of Rs 571 crore in the first quarter of the financial year 2024-25. It has decreased by 3% on an annual basis. It was Rs 588.75 crore in the same quarter a year ago i.e. Q1FY24.
Talking about the consolidated revenue (earnings) from the company’s operations, it was Rs 7,196.45 crore in the April-June quarter. It has increased by 11.74% on an annual basis. In the same quarter a year ago, the company had generated a revenue of Rs 6,440.29 crore.
MRF shares rise by ₹ 6,325 after results
After the results, MRF’s stock is seeing a rise of 4.70% or Rs 6325.20 today (August 8) at 1:37 pm. The company’s stock has given a positive return of 9.03% in the last one month and 30.44% in one year. Whereas it has fallen by 1.46% in 6 months. MRF’s stock has given a return of 8.48% this year. The company’s market cap is around Rs 60 thousand crores.
MRF shares are seeing a rise of 4.70% or Rs 6325.20 today (August 8) at 1:35 pm.
MRF share reached Rs 1.5 lakh in January
MRF shares created history in January. MRF stock crossed the record figure of Rs 1.5 lakh in the trading session on January 17. With this, MRF has become the first company in India to do so.
The stock also hit an all-time high of Rs 1,50,254.16 and a 52-week high during the trading session. However, it closed at Rs 1,34,600.05, down 1.46%. The stock opened at Rs 1,35,870 at the start of the trading session.
In 2016, the price of MRF share was Rs 50,000
The price of MRF share was Rs 1000 in the year 2000. In 2012, it reached the level of Rs 10,000. After this, in 2014, this stock (share) touched the figure of Rs 25,000. Then it reached Rs 50,000 in 2016.
The stock of MRF crossed the level of 75,000 in the year 2018 and 1 lakh in June 2022. At the same time, the stock of MRF has also crossed the figure of Rs 1.5 lakh.
Why is MRF stock so expensive?
The reason behind this is that the company’s shares have never been split. According to reports, MRF has never split its shares since 1975. At the same time, MRF issued bonus shares in the ratio of 1:2 in 1970 and 3:10 in 1975.
MRF exports to more than 75 countries of the world
The market of tyre industry in India is more than Rs 60,000 crore. JK Tyre and Industries Limited and CEAT Tyres are competitors of MRF. MRF has more than 2,500 distributors in India. Not only this, this company also exports to more than 75 countries of the world.
MRF started by making toy balloons
The full name of Chennai based MRF company is Madras Rubber Factory. This company started in 1946 by making toy balloons. After 1960, the company started making tyres. Now this company is the largest manufacturer of tyres in India.
- K.M. Mamman Mappillai is the founder of MRF. He used to sell balloons earlier. Born in a Christian family in Kerala, Mappillai’s father was a freedom fighter. He was arrested during the freedom struggle.
- After his father went to jail, the entire responsibility of the house fell on Mappillai’s shoulders. He had 8 siblings. To run the family, he started selling balloons on the streets. After selling balloons for 6 years, in 1946 he decided to do rubber business.
- After this, Mappillai started making toys for children. By the year 1956, his company had become a big company in the rubber business. Gradually, his inclination increased towards the tyre industry.
- In 1960, he formed a private limited company of rubber and tyres. Later, to expand the business, he entered into an agreement with Mansfield Tyre and Rubber Company of America.
- By the year 1979, the company’s business had spread across the country and abroad. After this, the American company Mansfield sold its stake in MRF and the company was renamed MRF Limited.
- Mappillai died in 2003 at the age of 80. After Mappillai’s death, his sons took over the business and soon their company became number-1. The tire manufacturing company also showed a lot of interest in sports.
- The company became number 1 in sectors like MRF Racing Formula 1, Formula Car, MRF Motocross. Most of the manufacturing units of this company, which does business in India and abroad, are in Kerala, Puducherry, Goa and Tamil Nadu.
- MRF company manufactures tyres, treads, tubes, conveyor belts, paints, toys and sports goods. In the year 2007, the company crossed the turnover of 1 billion dollars.
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