The Indian tyre manufacturer company MRF ( Madras Rubber Factory) became the first Indian company to cross the whopping 1.95 lakh per share on 13th June. Till now the stock has rallied 12.89%. Also, interestingly MRF becomes the second strongest tyre brand of the world as reported by Brand Finance, an UK based brand valuation consultancy.
In 2022, the company’s Net profit surged to 90,000 rupees mark and on 13th June with record breaking 1,00,000, it surpassed creating history in the Dalal Street. It is endorsed by celebrities like Sachin Tendulkar and Virat Kohli.
It was first started in 1946 as a balloon company, but became one of the largest Tyre factories by 1980. This is a massive growth in 34 years. The stock prices have bloomed to 600% in 10 years. It has registered 15% profit in the year 2022-23.
In Spite of these, experts claim to be optimistic in future, but still behind the giants like TCS and Reliance. The consolidated revenue of the company in 2022 was 23,008 crore. Thus, we can expect that the growth the company may continue in recent years and make earmark result in future.
