MRF, India's top tyre-maker has invited bids to raise Rs 500 crore via sale of bonds. The company has invited bids by May 19 which will be valid till May 21. The bonds carry “AAA” rating from CARE and “LAA+” from ICRA.
Besides, MRF has reported a decline of 6.23% in its net profit for the second quarter ended March 31, 2011, which stood at Rs 89.85 crore against Rs 95.82 crore for the quarter ended March 31, 2010.
The company has reported net sales / income from operations of Rs 2381.56 crore for the quarter ended March 31, 2011 against Rs 1767.58 crore for the quarter ended March 31, 2010. It has reported an EPS of Rs 211.85 for the quarter under review as compared to Rs 225.94 for the quarter ended March 31, 2010.
MRF (Madras Rubber Factory) is India’s No.1 tyre manufacturing company. Currently MRF exports tyres to over 65 countries including America, Europe, Middle East, Japan, and the Pacific region.
| Company Name | CMP |
|---|---|
| MRF | 139494.55 |
| Apollo Tyres | 442.15 |
| CEAT | 3801.40 |
| Balkrishna Inds. | 2303.15 |
| JK Tyres & Inds. | 423.85 |
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