Going forward, M&M will continue to launch new implements and farm machinery in the country through our Centres of Excellence (CoEs) in Turkey, Finland and Japan (where your Company, over the years, has created footprints through strategic stakes and acquisitions). Going forward, the Company will launch the Mahindra Tractor brand in new markets such as Europe and ASEAN for faster growth of overall exports. EXPORT FROM INDIA - FARM EQUIPMENT SECTOR For the year under review, your Company sold 13,860 tractors in the export market. Exports during the year were sluggish due to a slowdown in some key markets like the U.S., South Asia, etc. ALLIED BUSINESSES MAHINDRA POWEROL CONSTRUCTION EQUIPMENT For the year under review, your Company (under the Mahindra EarthMaster brand) sold 1,118 Backhoe Loaders (BHLs), a 13.0% increase as against 989 sold in the previous year. Your Company also has a presence in the road construction equipment business through motor graders (under the Mahindra RoadMaster brand). For the year under review, your Company sold 306 motor graders, a 62.7% increase as against 188 sold in the previous year. Your Company also has presence in the Sugar Cane Haulage market (under the Mahindra HaulMaster brand) in the export market. The BHL industry grew by 22% and the motor grader industry grew by 28% due to increased focus from the Government of India on infrastructure. MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 156 Revenue Growth Growing Tractor Market share Quantum Growth in Farm Machinery Significantly Growing our International Operations: 1.6x by FY26 Pioneering Technology Leadership Deliver ROCE of 18%++ Besides rolling out new products, your Company is also focussing on: In FY 2023-24, your Company launched the new Mahindra OJA in the U.S. market, the second largest market for Mahindra outside India. Mahindra Powerol has been a significant player in the power back-up industry for over 20 years. With a No. 2 position (by volume) in the overall Power Generation market, Mahindra Powerol's network is spread over 300 service and sales touchpoints nationwide and over 12 overseas locations. The Company's distinct business model strategically balances its service and product contributions, each equally vital to its revenue generation. In addition to Telecom, Powerol has also been focusing on increasing its retail market share by HkVA range extensions. With the successful launch of CPCB4+ gensets, your Company has already sold over 500 units in market so far. With a focus on green energy, Powerol has also initiated an EV charger business for home charger installations. Mahindra Powerol has already installed over 5,000 chargers nationwide. Your Company is also into Energy Storage Solutions through Li-ion batteries.
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