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

FARM EQUIPMENT SECTOR The Farm Equipment Sector continued to create products aimed at enhancing farm productivity and, thereby, rural prosperity. In F23, FES production saw some record- breaking numbers. It is also consistently working towards meeting the changing needs of the agriculture sector, with a complete range of farm machinery products and solutions beyond tractors. Swaraj Tractors rolled out its 20 Lakh tractor from the Mohali Plant in September 2022. Since its inception in 1974, the f irst milestone of 10 lakh tractor production was achieved in 2013. Now within a span of just nine years, it accomplished 20 Lakh tractor production. This is a testimony of the faster growth of the brand Swaraj. In addition, numerous FES plants also crossed milestone production f igures this year: MADE IN INDIA, MADE FOR INDIA In November 2022, FES inaugurated its f irst dedicated farm machinery plant in Pithampur, Madhya Pradesh. The plant is strategically located with access to a diverse supplier base, enabling the Company to manufacture durable, high-quality, affordable and accessible 'Made in India, for India's farm machinery, marketed in both the Mahindra and Swaraj brands. The plant will also manufacture products for export to global markets in Asia, Africa, Europe and America. The Zaheerabad team received CII- Pinnacle Awards for Excellence in Manufacturing in three domains - Production, Collaboration, and Behavioural Aspects. The women empowerment initiatives of FES Nagpur and Jaipur plants received the Global CSR Excellence Award byWorld CSR Congress. MANUFACTURING MILESTONES - FES Rudrapur Plant l 8,00,000 Tractor and 9,50,000 Gearbox Zaheerabad Plant l 3,00,000 Tractor MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2022-23 12