Know the History of MRF Company: From Balloon-Making to Tire-Making
Madras Rubber Factory (MRF) Company, which is now India’s number one company in tire-making and 14th in the world, started as a small balloon-making business in Tiruvottiyur, Madras (now known as Chennai). Here’s a brief history of the company.
Before independence, a young entrepreneur KM Mammen Mappillai set up the balloon-making business in a small shed in Tiruvottiyur. Gradually, the business started growing, and in 1952, Mappillai established a trade rubber manufacturing company named MRF. Within four years of entering the world of tread rubber business, the company grew rapidly, and MRF became the leader in tread rubber business in India with a 50% share.
Later, on November 5, 1961, the company converted into a private limited company. Until then, the company manufactured tires and tubes for automobiles, aircraft, and bicycles in collaboration with the Mansfield Tire and Rubber Company.
MRF share was listed in April 1993. The share of this company, which was listed about 25 years ago, has now become worth Rs 1 lakh. The company had issued this share at a face value of Rs 10. On April 27, 1993, the company’s stock closed at Rs 11 on the BSE. This share is worth Rs 1 lakh today. In this way, it can be said that this company has made Rs 11 lakh in 25 years.
Currently, MRF is the first stock in the country whose rate has gone above Rs 1 lakh.
Mappillai, who was born in Kerala on November 28, 1922, in a Syrian Christian family, received his early education from his hometown and completed his graduation from Madras Christian College. He entered the business world in 1946 and started a small balloon-making business in Tiruvottiyur, Madras.
English Summary: MRF Company, which started as a small balloon-making business in Tiruvottiyur, Madras, has grown into the number one company in tire-making in India and 14th in the world. The company was established by KM Mammen Mappillai in 1952. MRF’s share has become worth Rs 1 lakh, making it the first stock in the country to achieve this feat.
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