Investor Presentaiton

CHAIRMAN'S MESSAGE Dear Shareholders, In the closing stages of last financial year we were still in the midst of a raw material crisis. The prices of raw materials were continually increasing necessitating increasing our prices too. Fortunately, over a period of time the raw material prices have stabilised and this has helped business in the current year. In the current year we have recorded an all-time high consolidated total income of Rs.23,261 crores which is an increase of Rs.3,627 crores over the previous year. This huge increase in consolidated total income reveals the strength of MRF and its products. One of the resounding success of last year was the launching of our Scooter tyre Zapper C1. It has received excellent response from the customers and it has helped in increasing our 2 wheeler tyre sales. Last year's problem of the semi-conductors shortage has more or less disappeared and the production level of automobile industries have reflected this. Electric vehicles are now coming out in each of the categories and it will take some time before we can see how this trend plays out. The Tractor tyre sales, which was rather muted last year, has shown encouraging results in the current year. With MRF leading in product preference in Farm tyres, this has also helped increase our sale. Brand Finance, the world's leading brand valuation consultancy has released the Automotive Industry 2023 study and ranked MRF Tyres as the 2nd Strongest Tyre Brand in the World. As we continue to be the market leader, it is essential for us to play an active role in decarbonizing our operations thereby helping India meet the target of Net Zero emission by 2070. To support this goal, we have set phase-wise targets and commitments to improve our sustainability performance in the coming years. I wish to thank the Shareholders, Investors, Central and State Governments, Lenders, Suppliers and Customers for their great support during these trying times. I also thank all my colleagues on the board for their continued support. Best Wishes, оплатить K.M. MAMMEN Chairman & Managing Director 01 • ANNUAL REPORT 2022 2023 MRF

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