TAFE concluded the fiscal year on a particularly strong note, delivering 37.4 per cent growth in March 2026, a substantial achievement against the domestic industry growth of 29 per cent for the month. The faster than industry growth reflects TAFE’s strong product line-up, deep farmer connect, and consistent demand across key agricultural regions, the company said in a statement.
The company said it achieved its highest-ever domestic sales, both the company’s brands Massey Ferguson and Eicher Tractors, recording their highest sales.
TAFE’s export momentum remained strong, with 12,584 tractors shipped to international markets, underscoring the company’s robust global presence and diversified growth strategy, it said.
To meet sustained demand across domestic and export markets, TAFE’s manufacturing plants operated at full capacity during the year. The company is actively evaluating capacity expansion initiatives to support future growth and reinforce its leadership position in the global tractor industry, the company’s statement said.
“This has been a very positive year for both the tractor market and for farmers across the country. In addition to favourable monsoons, the government’s move to reduce GST has provided significant relief to the farming sector,” Lakshmi Venu, Vice Chairman, TAFE, said in a statement.
“We are now seeing a very encouraging trend in the penetration of mechanisation in rural areas. This year marks a meaningful shift in the access to mechanisation for small farmers with many first time users entering the mechanization ecosystem. This will go a long way in improving farm productivity and strengthening farmer incomes across the country. At TAFE, we have remained sharply focused on the rapidly evolving preferences of our customers in this sector, and it is this focus that has enabled us to perform well in the market this year,” she added.
While global uncertainties and inflationary pressures arising from ongoing geopolitical tensions and war-related supply disruptions continue to impact input costs, the underlying fundamentals of Indian agriculture remain resilient, TAFE said.
Looking ahead, TAFE said it remains optimistic about the medium-term outlook, supported by continued mechanisation uptake, replacement demand, expanding applications of tractors and implements, and a gradual recovery in key export markets.
TAFE said it remains confident of sustaining its growth momentum.
