annual-report-FY2021

127 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2020-21 Your Company sold 343,833 tractors (including Gromax Agri Equipment Limited) in the domestic market, as compared to 291,901 tractors in the previous year, recording a growth of 17.8%. This year marks the highest ever volume sales achieved by your Company. Given the COVID-19 situation, the Company faced severe constraints when it came to the supply chain and supplier capacity. Hence, the market share is not a good performance indicator for F21. Your Company's F21 market share at 38.2%, continues to position it as the domestic market leader for the 38th consecutive year. Your Company's performance was supported by good performance of all products in the portfolio across all three brands viz. Mahindra, Swaraj and Trakstar. Farm mechanisation is an important enabler to address the concerns of farm productivity and farm labour shortage. Your Company has active presence in the farm mechanisation space through its FarmMachinery business and offers efcient and affordable mechanisation solutions across the spectrum of farming operations. These include rotary tillers, cultivators, harvesters, balers, and rice transplanters amongst others. Considering the growing demand for farm mechanisation in the horticulture segment, your Company (through its subsidiary M.I.T.R.A Agro Equipments Private Limited) also offers specialised sprayers to cater to the need of horticulture farmers. For the year under review, your Company recorded highest ever sales of INR 490 crore in the Farm Machinery business, a 46% growth over last year. This included the highest ever sales numbers in harvesters (both self-propelled and tractor mounted), threshers and rice transplanters. Export from India - Farm Equipment Sector This growth can be attributed to better retailing in various markets that your Company sells in, including USA, Brazil, and Africa. Exports to Sri Lanka, Nepal and Bangladesh has suffered due to border closure in thesemarkets as a result of COVID-19. For the year under review, your Company exported 10,665 tractors as compared to 10,014 tractors in the previous year, recording a growth of 6.5%. DOMESTIC MARKET LEADER FOR THE TH 38 CONSECUTIVE YEAR