MRF R&D spend up by 250%; to develop low rolling resistance tyres

MRF has initiated several projects, which include developing low rolling resistance (RR) tyres

With more competition from both domestic and international players, tyre major MRF raised its spending on research and development (R&D) by a little over 250 per cent to around Rs 200 crore in 2016-17.

It says it initiated several projects, including on developing low rolling resistance (RR) tyres.

By comparison, its R&D spending was Rs 54.9 crore in the 18 months between October 2014 and March 2016.

In the company's annual report, chairman and managing director K M Mammen said MRF's total income for 2016-17 was Rs 15,078 crore. "We have been market leaders for an unprecedented 30 years. However,