MRF Limited , a leading tyre manufacturer in India, has announced a significant move towards sustainable energy sourcing. The company has entered into a power supply and consumption agreement with Serentica Renewables India 26 Private Limited, aiming to boost its renewable energy supply for operations.

Key Details of the Agreement

• Investment Amount: MRF plans to invest ₹99.00 crores to acquire up to 26% equity stake in Serentica Renewables India 26 Private Limited.
• Power Source: The agreement covers the purchase of solar and wind power under the captive power policy of the Government.
• Completion Timeline: The acquisition is expected to be completed by July 31, 2026.

About Serentica Renewables India 26 Private Limited

Serentica Renewables India 26 Private Limited is a newly incorporated company, established on May 5, 2025. Here are some key details:

• Corporate Identification Number: U35105HR2025PTC131608
• Registered Office: RMZ Infinity, 5th Floor, Plot No-15, Udyog Vihar, Phase-IV, Gurugram-122015, (Haryana) India
• Business Focus: Engaged in renewable energy, acting as a developer to build, own, operate, maintain, and manage hydel, solar, wind, geothermal, energy storage, and other alternate sources of energy.
• Current Status: As a newly incorporated entity, the company has not yet started commercial operations, and its turnover is currently nil.

Strategic Implications for MRF

This move by MRF aligns with the growing trend of large corporations investing in renewable energy sources. By acquiring a stake in Serentica Renewables, MRF aims to:

1. Enhance its renewable power supply sources
2. Potentially reduce long-term energy costs
3. Improve its environmental sustainability profile

Regulatory Compliance

MRF has confirmed that this acquisition does not fall under related party transactions, and no governmental or regulatory approvals are required for the acquisition.

This strategic investment by MRF demonstrates the company's commitment to sustainable practices and long-term energy security. As the renewable energy sector continues to grow, such partnerships between established manufacturers and renewable energy providers are likely to become more common, driving the transition towards cleaner energy sources in the industrial sector.

MRF Limited , one of India's leading tyre manufacturers, has reported an illegal strike at its Tiruvottiyur manufacturing plant in Chennai, Tamil Nadu. The company disclosed this information in response to news reports and subsequent inquiries from the National Stock Exchange of India Ltd and Bombay Stock Exchange Ltd.

Strike Details

The strike, initiated by some workmen at the Tiruvottiyur facility, revolves around two main issues:

1. Payment of annual insurance premium as an advance
2. Opposition to hiring trainees under various government schemes, including:
   • National Apprentice Promotion Scheme (NAPS)
   • Prime Minister's Internship Scheme (PMIS)
   • Naan Mudhalvan Scheme

Impact on Operations

Despite the ongoing strike, MRF Limited has stated that operations at the Tiruvottiyur plant are partially continuing with the help of non-striking workers. The company emphasized that the Tiruvottiyur facility is just one of its ten factories across India, suggesting that the overall impact on the company's production might be limited.

Company's Response

MRF Limited has taken a firm stance on the situation:

• The company has declared the strike as illegal.
• Steps are being taken to restore normalcy at the earliest.
• The company is closely monitoring the situation and has committed to keeping the stock exchanges informed of any material developments.

Financial Impact

In its communication to the stock exchanges, MRF Limited clarified that the financial impact of the strike does not exceed the thresholds requiring disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This suggests that the company does not anticipate a significant financial setback from this event in the short term.

Conclusion

While the strike at MRF Limited's Tiruvottiyur plant presents operational challenges, the company appears to be managing the situation proactively. The partial continuation of operations and the limited financial impact indicate that MRF is working to minimize disruptions to its overall business. Stakeholders will be watching closely for any updates on the resolution of this labor dispute and its potential long-term implications for the company.