During the period under review, your Company sold a total of 4,24,641 tractors (domestic plus exports from India), under the Mahindra, Swaraj and Trakstar brands, against 3,78,386 tractors sold in the previous year, registering a growth of 12.2%. Your Company sold 4,07,094 tractors, as compared to 3,64,526 tractors in the previous year in domestic market (these figures for the current year sales and previous year sales include tractors sold by Gromax Agri Equipment Limited, a subsidiary of the Company), reflecting a growth of 11.7%, as against the industry growth of 7.3%. Your Company achieved its highest-ever market share in FY25 at 43.3% and continued its position as the domestic market leader for the 42nd consecutive year. Your Company's performance was supported by good performance of all products in the portfolio across all three brands viz. Mahindra, Swaraj and Trakstar. Farm Mechanisation is an important enabler to address the concerns of farm productivity and farm labour shortage. Your Company has aggressive plans to grow its Farm Machinery business, through the launch of 'Made in India' farm machinery products. Mahindra has successfully built a portfolio catering to all the stages of farming applications – Tillage to Post Harvesting. During the year, Mahindra Farm Machinery clocked the highest ever revenue, crossing the mark of Rs. 1,000 crores (including MITRA Agri Equipments Private Limited, a subsidiary of the Company), with 18.4% growth this year. In Harvesters, we gained momentum, with the recent launch of the Swaraj 8200 and the Mahindra 2100 Crawler Harvester launched during FY25. We have also built a successful base in other products like Loaders, Straw Reapers, Threshers, Balers, etc. that will bring in significant revenue for us in the coming years. Your Company also launched various products that further strengthen the presence in rotavator category and also launched new Loaders and Backhoes for the North American market. Your Company became the highest exporter of Loaders from India, exporting to the North American market. Besides rolling out new products, your Company is also focusing on: Revenue Growth Growth in Tractor Market share Quantum Growth in Farm Machinery Significantly Growing our International Operations Pioneering Technology Leadership EXPORT FROM INDIA - FARM EQUIPMENT SECTOR For the year under review, your Company exported 17,547 tractors, a growth of 26.6% over last year, registering the second highest-ever exports from India. This was by opening of new markets for Mahindra, in Africa and ASEAN. Your Company also increased exports of the new OJA range from India to the U.S. market. Improved market conditions in Sri Lanka, Bangladesh and Nepal further supported exports of Mahindra Tractors out of India. During the financial year, your Company set up a new subsidiary in Thailand for the ASEAN region called Mahindra Southeast Asia Limited (MSEAL). In FY25, Mahindra launched the new Mahindra OJA in Thailand, the largest tractor market in the ASEAN region. Going forward, your Company will launch the Mahindra Tractor brand in new markets across Europe and ASEAN, while consolidating its presence in existing markets, for faster growth of overall exports from India. Integrated Annual Report 2024-25 | 146
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