MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 32 Core Domestic Mahindra and Swaraj, our flagship brands, are poised to fortify our domestic market leadership. Through product innovation, enhanced financing, digitalisation, and superior service, we're intensifying dealer reach, bolstering the supply chain, optimising pricing, and enhancing partnerships for a stronger presence in the market, including through our third brand Trakstar. With market share at 41.6% in F24, we continued to be the domestic market leader st for the 41 consecutive year. Growth in Farm Mechanisation We have aggressive plans to grow our Farm Machinery business, through launch of 'Made in India' farm machinery products. These include rotary tillers, harvesters, and rice transplanters amongst others. We achieved 2-year CAGR of 34% in F24. In F24, we launched new rotary tillers and harvesters for the domestic market and various tractor driven implements for export markets. We also launched Swaraj 8200 - India's first and only intelligent Harvester which has a host of digital features for customers and product service support. We will continue to launch new implements and farm machinery in the country through our Centres of Excellence (CoEs) in Turkey, Finland and Japan. Global Farm Businesses In F24, we sold 13,860 tractors in the export market. Export during the year have been sluggish due to a slowdown in some key markets like the U.S., Sri Lanka, etc. In Q4 of F24, we launched the new Mahindra OJA in the U.S. market, the second largest market for Mahindra outside India. Going forward, we will launch the Mahindra Tractor brand in new markets such as Europe and ASEAN for faster growth of overall exports.
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