2. An enterprise that started as a toy balloon maker in 1946 in South India quickly grew to become one of India's biggest and respected companies. Renowned for product superiority and innovation, MRF continues to be the leading tyre-maker in India
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4. With Rs.3000 crore estimated to be the value of exports. 39 tyre companies. 60 factories located all over India. 10 major tyre companies account for 88% of the tyre business in the country.
5. About Indian Tyre Industry Facts Second largest two wheeler manufacturer in the world. Largest tractor and three wheeler manufacturer in the world. Fourth largest commercial vehicle market in the world. Eleven largest passenger car market in the world. Trends > Growth of exports of 22.30% FY 2009-10 > Commercial vehicles segment grew at 4.07% > Light commercial vehicles grew at 12.29% Growth Potential Can become world's third largest automobile market in 2030. By 2016, Automotive sector can double its percentage contribution to GDP from current level of 5% (US $50billion) to 10% (US $180billion)
53. Way Ahead… The automobile industry has picked up really fast this year hence boosting tyre sales. Chinese tyres have lower import duty(8-10%) thus are more in demand whereas raw material import duties(20%) are high thus having higher cost. High reserve surplus to cover fluctuation in raw material cost(70 % of total cost). Natural Rubber prices increased from Rs.132 /kg to Rs 180 /kg. MRF has invested heavily in R&D which in turn is providing higher returns . MRF has also come up with a new factory in Andhra Pradesh which is highly automated and technologically advanced.
54. Cont… Market price of share very high. Rs 9439 per share in Sept 2010 with 544616 shares traded on NSE. Recommendations Stock split up as per share market price is very high. This will increase the equity base also.