MRF enters into MoU with Tamil Nadu for a greenfield plant at Sivaganga

MRF on Wednesday (March 4, 2026) announced it entered into a non-binding Memorandum of Understanding (MoU) with the Tamil Nadu Government, through its Nodal Agency “Guidance” to facilitate the setting up of a greenfield manufacturing facility for automotive tyres and allied products at SIPCOT Industrial Park, Sivaganga District, Tamil Nadu.

The MoU is non-binding in nature and is subject to the approval of a customised incentive package, infrastructure support — including land and statutory approvals — in accordance with applicable laws by the Government of Tamil Nadu.

MRF’s consolidated total income increased by 15% to ₹8,175 crores for the quarter ended December 31, 2025, as compared to ₹7,099 crores for the corresponding quarter ended December 31, 2024. The consolidated profit before tax stood at ₹917 crores for the quarter ended December 31, 2025 (after providing for an exceptional item of ₹77 crores on account of the new Labour Code) as compared to ₹424 crores for the corresponding quarter ended December, 2024.

Provision for tax for the quarter is ₹225 crores. After making provision for tax, the consolidated net profit for the quarter ended December 31, 2025 is ₹692 crores as compared to ₹315 crores for the corresponding quarter ended December 31, 2024. In the third quarter, both OE & Replacement sales were robust on account of increase in demand following the reduction in GST rates.

Rural economy also picked up against the background of good and widespread monsoons. “The demand buoyancy arising from reduction in GST rates is expected to continue in fourth quarter also. Moreover, OEMs [Original Equipment Manufacturers] are expected to increase production levels due to higher sales expected in the last quarter and also due to reduced channel inventory,” MRF had said earlier. “Trade Agreements, being finalised by the government with various countries, including with EU and U.S., will open up opportunities for exports in the coming future.”