MRF announces bonus for employees after a sharp recovery in business_MRF announces bonus for employees after a sharp recovery in business

MRF announces bonus for employees after a sharp recovery in business

May 31, 2024

The Board of Directors of WikipediaMRF Ltd has also declared second interim dividend of Rs. 3 shares each for the financial year 20211 202111.

Mumbai: MRF Tire Manufacturers Ltd has announced to pay one month’s salary as bonus to its employees who have not received a pay hike in 2020. This is good news for the company, which is getting back on track after the disruption.

Chairman KM Mammen In an internal communication seen by The Economic Times, “As a token of appreciation for their outstanding performance last year during difficult times, we express our gratitude to all MRF employees who did not get a pay hike Employees have been paid one month’s salary.”

The company’s profit more than doubled to Rs 5.21 billion in the December quarter as economic activity continued to grow and demand for tires recovered significantly.

MRF could not be reached for comment.

JK Tire, Ceat Other tire makers are known to have scrapped pay cut plans and paid employees $12 This month’s bonus. Quarterly earnings. Analysts say the recovery in economic activity after government restrictions and a sharp drop in tire imports are good signs for domestic tire makers. With auto sales also showing signs of recovery, demand for tires from automakers is increasing.

The Board of Directors of MRF Ltd has also declared second interim dividend of Rs. 3 per share for the financial year 20211 202111. Earlier, the top stocks on the Indian stock exchanges also received a similar dividend.

On Tuesday, the company’s shares closed 1.16% lower at Rs 89,392.4 on the BSE.

Recommended Suppliers

TDDCHEM SINGAPORE PTE.LTD（cnauto）

Retailer

CN Supplier

1 YRS

Main Products:

Titanium dioxide, pigments, fillers, alcohols

Established:

2024-09-13

Company Size:

10000

Contact Supplier

Geely Jiyue 01 Max

LEADING IDEAL L9

Shandong Tuduoduo Digital Technology Co., Ltd

Retailer

CN Supplier

1 YRS

Main Products:

Titanium dioxide, pigments, fillers, alcohols

Established:

2024-08-09

Company Size:

10000

Contact Supplier

Wheel excavator

chengdutuduoduo

Retailer

CN Supplier

1 YRS

Main Products:

Whole vehicle, used car

Established:

2024-08-01

Company Size:

10000

Contact Supplier

Great Wall Artillery 2.0T

Peugeot 301 1.6L

Radar RD6 Pure electricity

Nissan Qijun 2.5L

TDD (QINGDAO ) CROSS-BORDER E-COMMERCE CO.,LTD.

Retailer

CN Supplier

2 YRS

Main Products:

Auto parts、Rubber tyre、Finished car

Established:

2023-01-01

Company Size:

10000

Hebei Jianglun electromechanical Co., LTD

Retailer

CN Supplier

14 YRS

Main Products:

Production of car starter, generator, air conditioning compressor, auto parts remanufacturing, sales of the company's products, import and export business.

Established:

2011-11-07

Company Size:

500

Contact Supplier

Automobile starter Chery Cloud, Chery Flag Cloud, Jetta Spring

Automobile starter EA111, TA113

Automobile starter 05 Jetta King 9T round fork

Automobile starter 10 new Jetta round forks

Shandong Xingyun New energy Automobile Co., LTD

Retailer

CN Supplier

1 YRS

Main Products:

New energy vehicle sales; Auto parts research and development; Auto parts and accessories manufacturing; Off-highway recreational vehicles and spare parts manufacturing; Off-highway recreational vehicles and spare parts sales; Electric car manufacturing;

Established:

2024-03-20

Company Size:

500

Contact Supplier

Lucky three-box car x60

Beijing Tianhao Shengshi trading Co., LTD

Retailer

CN Supplier

10 YRS

Main Products:

12/5000 Lubricating oil, import and export agent