ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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MRF, Smithkline Beecham Consumer Health Care, Siemens

MRF Bumpy Ride The Chennai based 41-year old tyre major seems to have reached a plateau in terms of its top-line and bottom-line growth. After registering a compound annual growth rate (CAGR) of 15.8 per cent during the five year period from 1991 to 1995, the growth rate slowed down to a mere 2.7 per cent in the next five years. Similarly, in the case of PAT, CAGR for these two periods were 8.7 per cent and 3.7 per cent respectively. In fact, on y-o-y basis, PAT experienced a fall of 5.8 per cent in 1998-99 and a further steep decline of 34.2 per cent in the next year. As a result, the profitability ratios came under pressure. The company

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