Investor Presentaiton
Risks and Concerns
World economy continues to face uncertainties due to geopolitical tensions,
forecasts of recession / slow down in growth in certain major economies of the
world, impact of climate change and macro economic structural challenges.
The overall scenario has triggered a spate of downsizing exercises across
several organisations setting off a nervousness which could impact demand,
both domestic and export. If the prediction of a lower than average monsoon
in India materialises, it could adversely impact off-take from rural markets.
While raw material prices are currently favourably positioned, any reversal in
this trend could once again put pressure on profits. Uncertainty remains with
regard to the price of crude oil which impacts the cost of several raw materials
used by tyre industry. Availability of natural rubber towards the end of March
2023 was a concern and if this trend continues, prices would increase in the
near future.
Human Resources
MRF is a value driven organization and the company has a rich organizational
culture rooted in its core values of respect for people and belief in empowerment.
The core value underlying our corporate philosophy is "trusteeship" and
"proprietary interest". In dealing with each other, the values which are at the
core of our HR Philosophy - trust, teamwork, mutuality and collaboration,
objectivity, self-respect and human dignity are upheld. The management is
committed to the development and growth of its people and the core focus
is on human resources for its continued success. We owe our success and
dominance in the market to the dedication and hard work of our employees
who have overcome all challenges to meet the daunting challenges of the
market and the ever increasing quality expectations, customer taste and
preferences of the customers across the length and breadth of the country as
well as in overseas market.
The COVID-19 pandemic has arguably been the largest global shock to human
capital, we together combated and efforts have been taken for building agile,
resilient and adaptive Human Capital System.
We have focused on hiring the best resources available in tune with our growth
needs, retaining and developing our existing talent pool to strengthen our
human capital for meeting the future challenges. We leverage human capital
for competitiveness by nurturing knowledge, entrepreneurship and creativity.
Our human resource development is focussed on our company's mission
to have competitive edge in technology and excellence in manufacturing.
All our training programs are designed and tailor made to meet our specific
requirements. We continued imparting teambuilding and collaboration training
to our workmen to enhance the team cohesiveness. Leadership training for
union leaders and opinion makers also continued through the year, keeping
with our commitment of shaping the future of our plants.
The total employee strength as on 31st March 2023 was 19,050.
We maintained cordial and harmonious Industrial relations in all our
manufacturing units through our various employee engagement initiatives and
focus on improving the work culture, enhancing productivity and enriching the
quality of life of the workforce and maintaining our supremacy in the market.
Cautionary Statement
Statements in the Management Discussion and Analysis describing the
Company's objectives, expectations or forecast may be forward looking
within the meaning of applicable laws and regulations. Actual results may
differ materially from those expressed in the statement. Important factors
that could influence the Company's operations include global and domestic
supply and demand conditions affecting selling prices of finished goods, input
availability and prices, changes in government regulations, tax laws, economic
developments within the country and other factors such as litigation and
industrial relations.
Chennai
3rd May, 2023
On behalf of the Board of Directors
KM MAMMEN
Chairman & Managing Director
DIN: 00020202
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