MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

Amidst several disruptions in the global agricultural commodity market, Indian agriculture stood strong and resilient. Positive gains were witnessed with rising crop prices, adequate rainfall in most part of the country supported crop output. The rural sentiments remained buoyant during the peak sowing months, with signif icant surge in GoI spending in rural sector during the Rabi sowing months and continued focus to institutionalise agriculture credit. The year also witnessed revival in demand from commercial segment which was tepid during previous year. YOUR COMPANY'S PERFORMANCE AUTOMOTIVE SECTOR During the year under review, your Company in India is the: Increase in allocation of Government budget on infrastructure and rural development is likely to benef it commercial demand, going forward. In addition to demand remaining buoyant, supply situation also eased during F23 as raw material and labour shortage which affected the industry in the previous years, sawnormalisation. Your Company's share in Domestic Tractor Industry stood at 41.2% in F23. 115 th 4 Largest Passenger Vehicle Company No.3 SUV Maker by Volume No.1 SUV Maker by Revenue nd 2 Largest Commercial Vehicle Company Largest Small Commercial Vehicle Company (<3.5T) No.1 Commercial Vehicle Exporter Your Company's share of the total Indian Auto Industry stood at 12.6% For the year under review, your Company achieved highest ever overall volumes of 6,66,349 vehicles in the domestic market, a growth of 53.9% over the previous year. Your Company also clocked the highest ever annual sales of its SUVs at 3,56,961 units, with a growth of 59.6% over the previous year and also recorded highest ever production at the Kandivali and Chakan plants.