166 Integrated Annual Report 2025-26 Favourable weather conditions, strong Government support, increased crop procurement and positive terms of trade for farmers reinforced demand. Government measures to improve farm incomes through various schemes further promoted farm mechanisation, with investments to improve rural infrastructure. Exports of tractors in FY26 improved as compared to FY25. This was due to demand for Indian-made tractors, industry-led growth of markets like Sri Lanka, Nepal and Bangladesh. This positive trend is expected to continue, signalling sustained growth for the sector. Your Company’s Performance Automotive Sector In FY26, your Company secured the No. 1 position in SUV revenue market share in India across both ICE and EV segments. Among passenger vehicle manufacturers, based on revenue market share, your Company ranked No. 2 in ICE and No. 1 in EV. (Source: JATO) The Company also retained its No. 1 position in SUV brand power during the year under review. Additionally, it sustained its leadership in the LCV (<3.5T) segment by volume for over 12 consecutive years. Your Company’s share in the SUV segment of the Indian auto industry stood at 21.3%. For the year under review, your Company crossed the 1 million mark for the first time, achieving record domestic volumes of 10,76,668 vehicles, an 18.8% increase over the previous year. The Company also posted its highest ever annual SUV sales at 6,60,276 units, reflecting 19.7% growth year-on-year, and recorded peak production levels at both the Kandivali and Chakan plants. The table below summarises the performance of your Company across various industry segments. Industry Segment Utility Vehicles Passenger Cars MPV (Vans) Passenger Vehicles LCV Goods < 2T GVW LCV Goods 2-3.5T GVW LCV Goods < 3.5T LCV Goods > 3.5T GVW LCV Goods Total M+ICV Goods (7.5 to 18.5T) HCV Goods > 18.5T MHCV Goods CV Passenger CV Goods CV Total 3W Total Domestic Industry FY25 27,97,229 13,53,287 1,51,332 43,01,848 1,55,927 3,11,725 4,67,652 61,422 5,29,074 1,07,294 2,00,197 3,07,491 1,22,114 8,36,565 9,58,679 7,41,420 60,01,947 FY26 31,05,025 13,78,771 1,59,643 46,43,439 1,62,436 3,48,965 5,11,401 83,875 5,95,276 1,30,832 2,25,017 3,55,849 1,28,746 9,51,125 10,79,871 8,36,231 65,59,541 Growth 11.0% 1.9% 5.5% 7.9% 4.2% 11.9% 9.4% 36.6% 12.5% 21.9% 12.4% 15.7% 5.4% 13.7% 12.6% 12.8% 9.3% FY25 5,51,487 0 0 5,51,487 38,995 1,89,914 2,28,909 29,085 2,57,994 1,340 5,457 6,797 4,296 2,64,791 2,69,087 85,832 9,06,406 FY26 6,60,276 0 0 6,60,276 38,120 2,08,634 2,46,754 45,773 2,92,527 1,918 5,324 7,242 4,620 2,99,769 3,04,389 1,12,003 10,76,668 Growth 19.7% 0.0% 0.0% 19.7% -2.2% 9.9% 7.8% 57.4% 13.4% 43.1% -2.4% 6.5% 7.5% 13.2% 13.1% 30.5% 18.8% FY25 19.7% 0.0% 0.0% 12.8% 25.0% 60.9% 48.9% 47.4% 48.8% 1.2% 2.7% 2.2% 3.5% 31.7% 28.1% 11.6% 15.1% FY26 21.3% 0.0% 0.0% 14.2% 23.5% 59.8% 48.3% 54.6% 49.1% 1.5% 2.4% 2.0% 3.6% 31.5% 28.2% 13.4% 16.4% M&M Market Share
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