The Exchange has sought clarification from MRF Limited with respect to recent news item captioned Strike disrupts production at MRF s Tiruvottiyur plant in North Chennai. The response from the Company is attached.
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MRF has clarified that some workmen at its Tiruvottiyur manufacturing plant in North Chennai have gone on an illegal strike. The strike is related to demands around annual insurance premium being paid in advance and opposition to hiring trainees under government apprenticeship and internship schemes (NAPS, PMIS, Naan Mudhalvan). The company has stated the strike is illegal and that partial production is continuing with non-striking workers. MRF noted the Tiruvottiyur plant is one of its ten factories across India. The company has informed exchanges that the financial impact of the disruption does not cross its internal reporting threshold under SEBI's Regulation 30.
Short-term production disruption at one of ten plants, but financial impact deemed immaterial. Limited near-term impact on shareholders; situation bears monitoring if it escalates or spreads.