Tyre maker MRF Ltd. is an iconic name in the Indian business world. MRF, however, has been very publicity shy and has consciously kept itself out of the limelight.
Its shares continue to command a hefty price (close to Rs 88,942 per share as per November). The KM Mammen-headed promoter group controls 27.87 per cent stake in the company that has done well in the type business. Its Pace Foundation has churned out quite a few fast bowlers for Indian cricket. Besides cricket, it has also been engaged in other sports such as racing.
The Three New Musketeers
The company has inducted three new members on its board – all as independent directors. While all of them have varied professional backgrounds, interestingly, all three studied in Chennai colleges. Vikram Taranath Hosangady and Ramesh Rangarajan went to Loyola College and Dinshaw Keku Parakh had his education in DG Vaishnav College.
Vikram Taranath Hosangady worked with KPMG from 2005 to 2022. Prior to KPMG, he worked with EY in the Deal Advisory wing from 2002 to 2004 and Arthur Anderson’s Audit wing from 1996 to 2001. Dinshaw Keku Parakh is the Managing Partner of Tarapore & Company, a firm involved in the construction and engineering business. Dinshaw Keku Parakh currently serves on the Board of SICGIL India, one of India’s largest Industrial Gas manufacturing firms.
Ramesh Rangarajan, a family member of The Hindu group of publications, is currently on the Management Committee of Madras Race Club. The three must be very familiar with the ground realities and the operating ecosystems in this part of the business world.