Success does not come easily to anyone, it requires hard work and dedication, every person has to face success and failure. Therefore, one should not be afraid of failure but face it firmly. If you have courage, you can achieve any goal. Something similar was done by M Memon Mappillai, the owner of the country’s largest tire company. Who made a company like MRF on the strength of his passion and courage. Today the market for MRF tires is touching heights.
The full name of MRF is Madras Rubber Factory. And its slogan is Tires with muscle, apart from MRF tires, many products are made such as treads, tubes, paints, belts, and toys. In 1967, it became the first company in India to export tires to the USA.
MRF is the brainchild of KM Mamman Mappila
Mamman was born in Kerala to a Syrian Christian family. He had 8 siblings. He also graduated from Madras Christian College. He used to sell balloons on the streets. MRF Tire i.e. Madras Rubber Factory is a big name in the tire industry today, but there was a time when Memon, who started this company, used to sell balloons in bags on the streets. Memon’s father participated in the freedom struggle. and went to jail. When Memon’s father was in jail, he used to run the family by selling balloons and also studying.
Official Website of MRF https://www.mrftyres.com/
Formed a private limited company in 1960
Memon graduated, then after doing balloon business for about 6 years, started making trade rubber in the year 1946. When Memon was 24 years old, he used to make children’s toys in a room. Then he opened his first office at Cheetah Street Madras. Gradually Memon started selling rubber products. This is the reason that by the year 1956, his company had become a big name in the rubber business. After rubber products, he tried his hand at the tire industry. In the year 1960, he formed a private limited company of rubber and tires.
Most of the manufacturing units are in Kerala, Puducherry, Goa, Chennai, and Tamil Nadu, all of which are now major tire manufacturing companies, with 16000 employees. Like other companies, MRF has also seen many challenges, political and financial.
MRF also has a lot of marketing strategies, They also invested a lot in motorsport, Like MRF Racing Formula 1 and Formula cars, Formula Maruti Facing, MRF Challenge MRF Rally Team MRF Motocross, MRF Karting, and Cricket.
After forming a private limited company, Mapillai tied up with Mansfield Tire and Rubber Company of America to manufacture tires. In 1967, MRF became the first company to export to the US, while in 1973 the company launched the first nylon tire in the country. By 1979, the company’s name had spread overseas, but in the same year, the American company Mansfield liquidated its stake in MRF. After this, the name of the company became MRF Limited. After this, Mapillai took the company to a new level by forming alliances with many big and small companies. Mappillai died in 2003 at the age of 80. But by then Mapillai had made the company number one in the tire sector.
After Mappillai’s death, his sons took over the business and the company continued to grow. It is the courage of Memon and the ability of his sons that today MRF has become a company of 34 thousand crores. Its share price is Rs 80,100, which is the highest in India. Do you know that MRF tires were also used in India’s best-selling car Maruti 800?
There are many achievements of MRF:
- This is the list of Forbes India’s top 50 best companies in the world.
- MRF is a trusted brand
- JD Power Award has also been won by MRF, Highest Express Tire Award
The share of MRF opened at Rs 79,795.95 and in half an hour’s trade, the stock rose 0.38 percent to Rs 80,099.95, which is its all-time high. On the other hand, the stock made a high of 80,100 on NSE.