MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

Considering the growing demand for farmmechanisation in India, your Company launched new Heavy Rotavator and Smart Rotavators during the year, with a 70% YoY growth in dealer penetration for Farm Machinery products and are working with nanciers for standalone nancing of farmmachinery. During the year, Swaraj Tractors launched CODE, a revolutionary new multi-purpose farm mechanisation solution to transform horticulture farming in India. An indigenously designed farm mechanisation solution, CODE is conceived with the idea of eliminating drudgery of labour involved in horticulture farming. The narrowest and the lightest ride-on machine, CODE will revolutionize horticulture farming in India, thereby allowing farmers to carry out inter-culture operations in narrow rows for various vegetable and fruit crops. Additionally, the shorter turning radius of this machine provides better manoeuvrability in smaller farms cultivating horticulture crops. FARM EQUIPMENT SECTOR Your Company achieved several milestones with robust demand for our tractors and farm equipment, and sound execution of our plans. Demand from global and domestic tractor markets were extraordinary, and with the right efforts made in this business, we were ready to seize those opportunities to the best of our abilities. For the period under review, your Company sold a total of 354,698 tractors (domestic plus export), under the Mahindra, Swaraj and Trakstar brands, against 354,498 tractors sold in the previous year, registering a at growth, with the industry operating on a very high base of F21. Your Company sold 3,37,052 tractors, as compared to 3,43,833 tractors in the previous year in domestic market (these gures for the current year sales and previous year sales include tractors sold by Gromax Agri Equipment Limited, a Subsidiary of the Company), degrowing by 2%, as against the industry degrowth of 6.4%. The year marks the second highest ever tractor volumes sales achieved by your Company. Given the COVID-19 situation, looking back, the agriculture sector stood strong despite several supply challenges during the rst wave. However, agri sentiments remained positive, thanks to successivemonsoon forecast. Your Company's F22 market share at 40% continues to position it as the domestic market leader for the 39th 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. During the year, Mahindra FES clocked the second highest revenue through the sale of FM (Farm Mechanisation) products, a new area of growth for your Company beyond tractors. MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2021-22 117