TRACTOR INDUSTRY The key growth drivers were increasing affordability in rural segment with higher Minimum Support Prices (MSPs), growing demand for farm mechanization, emergence of newer technologies in the farming sector, better monsoons and continued Government's focus on improving the state of agriculture in India. The long-term growth outlook for the Indian tractor industry remains positive. Over the period FY09 to FY25, the domestic tractor industry grew at a CAGR of 7.3%. TRACTOR INDUSTRY IN FY25 Indian tractor industry with an annual sale of 9.39 lakh units in FY25, registered an increase of 7.3% compared to FY24. In FY25, the Indian tractor industry was supported by the timely arrival of the south-west monsoon which created a positive momentum for the Kharif planting season. Healthy reservoir levels supported rabi crop acreage. Government measures to improve farm incomes through various schemes further promoted farm mechanization, with investments to improve rural infrastructure. Increased crop procurement and higher MSPs boosted farmers’ cash flow. Overall real agriculture GVA grew by 4.6% in FY25 compared to 2.6% growth seen in the previous year. Further, Government spending in agriculture also saw a strong growth this year. Your Company's market share in the domestic tractor industry stood at 43.3% in FY25, a gain of 1.7% YoY over FY24. Exports out of India in FY25 increased by 27% YoY compared to FY24. Exports out of India increased due to turnaround in South Asia markets, increased demand for Indian made tractors and entry into new markets. Passenger Cars Utility Vehicles MPV (Vans) Passenger Vehicles MHCV MHCV Passenger MHCV Goods ICV Goods (7.5 to 12T) MCV Goods (12 to 18.5T) HCV Goods >18.5T LCV LCV Passenger LCV Goods < 2T GVW LCV Goods 2-3.5T GVW LCV Goods > 3.5T GVW Total CV 3W Passenger 3W Goods 3W-e-Rickshaw 3W-e-Cart 3W Scooters Motorcycles Mopeds 2W Quadricycle Total Domestic Total Domestic (Excl. 2W) 17,47,376 20,03,718 1,39,020 38,90,114 3,59,003 38,410 3,20,593 35,298 68,187 2,17,108 6,03,465 44,315 1,92,982 3,31,655 34,513 9,62,468 3,61,094 97,540 26,654 3,480 4,88,768 51,90,702 1,02,30,502 4,41,567 1,58,62,771 725 2,12,04,846 53,42,075 15,48,947 25,20,691 1,49,112 42,18,750 3,74,012 53,768 3,20,244 37,667 75,906 2,06,671 5,94,758 51,750 1,76,310 3,19,114 47,584 9,68,770 5,48,090 1,11,519 31,290 3,902 6,94,801 58,39,325 1,16,53,237 4,81,803 1,79,74,365 725 2,38,57,411 58,83,046 13,53,287 27,97,229 1,51,332 43,01,848 3,73,819 66,328 3,07,491 40,160 67,134 2,00,197 5,82,852 54,807 1,55,927 3,10,696 61,422 9,56,671 6,01,642 1,17,156 18,474 4,148 7,41,420 68,53,214 1,22,52,305 5,01,813 1,96,07,332 120 2,56,07,391 60,00,059 19.1% 34.5% 22.7% 26.7% 49.2% 225.4% 40.0% 1.4% 31.5% 52.5% 26.8% 122.1% 12.6% 31.6% 5.8% 34.3% 108.3% 28.0% 151.9% 172.9% 87.0% 26.2% 13.9% -6.7% 16.9% 484.7% 20.4% 32.0% -11.4% 25.8% 7.3% 8.4% 4.2% 40.0% -0.1% 6.7% 11.3% -4.8% -1.4% 16.8% -8.6% -3.8% 37.9% 0.7% 51.8% 14.3% 17.4% 12.1% 42.2% 12.5% 13.9% 9.1% 13.3% 0.0% 12.5% 10.1% -12.6% 11.0% 1.5% 2.0% -0.1% 23.4% -4.0% 6.6% -11.6% -3.1% -2.0% 5.9% -11.6% -2.6% 29.1% -1.2% 9.8% 5.1% -41.0% 6.3% 6.7% 17.4% 5.1% 4.2% 9.1% -83.4% 7.3% 2.0% Industry Segment Domestic Industry Volume FY23 FY24 FY25 FY23 FY24 FY25 YoY Growth Management Discussion and Analysis | 139 MAHINDRA & MAHINDRA LTD.
RkJQdWJsaXNoZXIy NTE5NzY=