26 Integrated Annual Report 2025-26 Farm Product Highlights In FY26, the business launched two significant product upgrades — strengthening Mahindra's core portfolio and bringing a new modular transmission line to the Swaraj PRO-TEK range. Mahindra — New Tractor Range Mahindra is upgrading nearly half of its 31–50 HP portfolio with a new range built for harder work and improved operator comfort. The range is characterised by a tough, muscular design, enhanced ergonomics and an upgraded engine that delivers best-in-class backup torque. Farmers also get more choice across multiple configurations. During FY26, the 41-50 HP range was launched across seven states, pan-India coverage will follow in 2026. Swaraj – PRO-TEK Swaraj PRO-TEK raises the bar on performance by delivering higher productivity and unmatched comfort. At its heart is a new modular transmission line, designed to boost productivity with best-in-class load-carrying capability, gear shifting comfort, and better ergonomics. Successfully launched in Punjab, Haryana and Rajasthan, PRO-TEK will roll out pan-India in FY27. These actions are aimed at improving profitability of our international operations going forward. • We continue to stay invested and steadily build market share in strategic markets. ▪ North America: Market share in <110 HP segment grew to 6.3% in FY26, up from 6.0% in FY25 despite slowdown in the industry. We are ranked No. 3 with a strong brand in hobby farming. ▪ Brazil: Our market share in FY26 was at 6.6% in <120 HP segment. We have a strong <50 HP portfolio with growing acceptance in 70-90 HP. ▪ Turkey: Market share improved to 5.8% in FY26 from 5.5% in FY25 despite industry contracting due to hyperinflation and financing constraints. We are the No. 5 player with a strong product suite. FY26 Achievements 43.6% Highest ever market share and remained the market leader for the 43rd consecutive year. 20.8% Core tractor EBIT margins, up 110 bps. Tractors including exports and excluding Powerol, Farm Machinery 19.8% Standalone EBIT margins, up 140 bps. 1,354 crore Farm machinery revenue, up 32%
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