Meet man, who spent nights on floor, has no business, then built Rs 600000000000 company, special connection to Virat Kohli
After completing his studies, Mammen started his business on a small scale. He sold toy balloons on the streets of Madras. This simple start helped him to learn business tactics. During this time he was also working on smaller jobs.
In 1946, Mammen established the Madras Rubber Factory (MRF). It was initially a small unit of manufacturing toy balloons. The money he earned from selling balloons he invested it in his new business.
By 1952, Mammen found a new business idea of retreading old tires. He worked on this business which later became profitable. After this MRF entered into the tire industry. By 1961, MRF was operating in over 50% of the country's tire retreading market. The company launched its first tire factory, which was inaugurated by then-Prime Minister Jawaharlal Nehru.
MRF's became a household name in India as business expanded. In 1992, KM Mammen Mappillai received the Padma Shri award for his contribution to Indian industry.
MRF also has its association with cricket. They collaborated with cricketer Virat Kohli which helped MRF Tires which gave them popularity.
KM Mammen Mappillai passed away in 2003, but his company still contributes to the industry. Now MRF is the largest tire manufacturer in India. Their market capitalization of Rs 59,478 crore.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
27 minutes ago
- India.com
Bad news for Noel Tata, Rs 78000000000 demand notice to this Ratan Tata company by DoT over…
The Department of Telecom (DoT) has issued a 'show-cause-cum-demand notice' to Tata Communications, seeking approximately Rs 7,800 crore in adjusted gross revenue (AGR) dues, according to an official company note. The demand pertains to AGR liabilities spanning the period from 2005-06 to 2023-24, as outlined in the note dated July 17. Tata Communications On Notice Over AGR dues 'As at June 30, 2025, the company has received 'Show Cause-cum Demand Notices' ('demand notices') from Department of Telecommunications of India aggregating to Rs 7,827.55 crore for financial years ranging from FY 2005-06 to FY 2023-24, which have been revised over a period of time,' Tata Communications Managing Director AS Lakshminarayan said. He said the demand notices include Rs 276.68 crore towards disallowance of deductions claimed by the company on payment basis for the financial year (FY) 2010-11 under ISP (internet service provider) licence and FY07 and FY10 under NLD (national long distance) licence. Tata Communications has existing appeals relating to its ILD (International Long Distance), NLD, and ISP licences that were filed in the past and are pending at the Supreme Court and telecom tribunal TDSAT. Lakshminarayan said the company's appeals are not covered by the apex court judgement dated October 24, 2019, on AGR under the old telecom licence regime called UASL. 'Further, the company believes that all its licences are different from UASL, which was the subject matter of Hon'ble Supreme Court judgement of October 24, 2019. The company, based on its assessment and independent legal opinions, believes that it will be able to defend its position,' Lakshminarayan said. What Is AGR Dues Matter Of Telecom Operators? As per initial calculation by the government, telecom operators had liability to pay around Rs 1.65 lakh crore in total AGR dues till FY19. The calculation as of March 2022 showed that the AGR liability on Bharti Airtel was Rs 31,280 crore, Vodafone Idea Rs 59,236.63 crore, Reliance Jio Rs 631 crore, BSNL Rs 16,224 crore, MTNL Rs 5,009.1 crore up to financial year 2018-19. The government calculation at that time did not include liability on Tata Communications. (With Inputs From PTI)
India.com
27 minutes ago
- India.com
Forget Physical Gold, This RBI Gold Scheme Is Giving Massive 251% Returns
photoDetails english 2938064 The Sovereign Gold Bond (SGB) 2017-18 Series-II, issued on July 28, 2017, matured on July 28, 2025, with a redemption price of Rs 9,924 per gram, reflecting a remarkable 250.67 percent capital gain over the original issue price of Rs 2,830. In addition, investors earned 2.5 percent annual interest, totaling approximately 20 percent over the 8-year tenure. While this interest is taxable, capital gains for individuals upon maturity are exempt from tax. Issued by the RBI for the Government of India, SGBs are a secure and convenient alternative to physical gold, offering market-linked returns without storage risks or making charges. Updated:Jul 28, 2025, 02:37 PM IST Final Redemption Date and Price 1 / 7 The Reserve Bank of India (RBI) has set the final redemption of Sovereign Gold Bond (SGB) 2017-18 Series-II on July 28, 2025, at a price of Rs 9,924 per gram. Calculation of Redemption Price 2 / 7 The redemption price is determined by the simple average of the closing price of gold of 999 purity for the week preceding the date of redemption (July 21–25, 2025), as published by the India Bullion and Jewellers Association Ltd (IBJA). Issuance Details and Returns 3 / 7 This SGB tranche was issued on July 28, 2017, at an issue price of Rs 2,830 per gram (excluding online discount). The final payout provides investors with a 250.67 percent return (Rs 7,094 gain per unit) over the 8-year holding period, excluding interest. Interest Earnings 4 / 7 Investors also earned a 2.50 percent annual interest (paid semi-annually) on the nominal value throughout the tenure, leading to a cumulative interest gain of around 20 percent across the maturity period. Taxation Benefits 5 / 7 Interest income on SGBs is fully taxable as per the Income-tax Act, 1961. Capital gains on maturity are exempt from tax for individuals, making the redemption proceeds tax-free. Indexation benefits are provided if SGBs are transferred before maturity. What Are Sovereign Gold Bonds? 6 / 7 SGBs are government securities denominated in grams of gold, issued by the RBI on behalf of the Government of India. They serve as a paper and digital alternative to physical gold, with cash-based issuance and redemption. Advantages Over Physical Gold 7 / 7 SGBs protect the quantity of gold purchased, offer returns linked to the current market price at redemption, avoid storage risk/costs, and have no concerns about making charges or purity, unlike gold jewelry. Bonds can be held in demat or RBI records, reducing risk of loss.
Time of India
27 minutes ago
- Time of India
Kinetic launches DX e-scooter starting at ₹1.11 lakh
Marking a significant comeback in the Indian two-wheeler market, Kinetic Engineering Ltd . (KEL) on Monday launched the Kinetic DX EV, an electric version of its iconic DX scooter from the 1990s. Developed and manufactured by its electric vehicle arm Kinetic Watts and Volts , DX EV is available in two variants — DX and DX+, priced at ₹1,11,499 and ₹1,17,499 (ex-showroom, Pune), respectively. Bookings are now open on the company's official website, with a refundable booking amount of ₹1,000. According to the company's statement, deliveries will begin in September 2025, with bookings limited to 35,000 units. It is co-developed with Italian designers and comes integrated with segment-first features such as Kinetic Assist, voice alerts, and Easy Flip pillion footrest. The company said DX EV's key highlight is its 37-litre under-seat storage, which it claims is the largest in its class, capable of holding two helmets and additional essentials. 'The legendary Kinetic DX earned a permanent place in the hearts of millions,' said Ajinkya Firodia, Vice Chairman, Kinetic India. 'Reviving this icon was about reintroducing reliability and innovation in a future-ready format. The new DX marks the beginning of a bold new chapter for Kinetic and for India's electric mobility landscape.' Performance and features DX+ is powered by a 2.6 kWh LFP battery (supplied by Range-X) and delivers an IDC range of 116 km and a top speed of 90 kmph. It also features K-Coast regenerative technology, a 60V system, and three riding modes — Range, Power, and Turbo. The scooter comes equipped with a BLDC hub motor producing 4.8 kW peak power, 220mm front disc brake, telescopic front suspension, adjustable rear shock absorbers, and combi-braking system. While the DX+ will be available in five colours — Red, Blue, White, Silver, and Black — the DX variant will come in Silver and Black. The e-scooter will be manufactured at Kinetic's facility in Pune. The company has already infused ₹72 crore into its EV business and committed an additional ₹177 crore for scaling up the DX platform.
