Tractors and Farm Equipment Ltd (TAFE), one of the world’s leading tractor manufacturers and India’s second-largest tractor company, has delivered a record performance in FY26, with total tractor sales crossing 2.14 lakh units, the highest in its history.
Strong finish to FY26 with industry-beating growth
The company closed the fiscal on a robust note, registering 37.4% growth in March 2026, significantly higher than the 29% growth recorded by the domestic tractor industry during the same period.
This outperformance reflects TAFE’s strong product portfolio, deep engagement with farmers, and sustained demand across key agricultural markets.
Record domestic sales; exports remain resilient
TAFE achieved its highest-ever domestic sales, with both its flagship brands Massey Ferguson and Eicher Tractors, recording peak volumes during the year.
The company also maintained steady export momentum, shipping 12,584 tractors to international markets, reinforcing its diversified growth strategy and strong global footprint.
Capacity utilisation at peak; expansion plans underway
To meet sustained demand across domestic and export markets, TAFE’s manufacturing facilities operated at full capacity throughout the year.
The company is currently evaluating capacity expansion initiatives to support future growth and further strengthen its leadership position in the global tractor industry.
Favourable macro trends support growth
TAFE vice chairman Lakshmi Venu 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. We are now seeing a very encouraging trend in the penetration of mechanisation in rural areas.”
Positive outlook driven by mechanisation trends
Looking ahead, TAFE remains optimistic about the medium-term outlook, supported by increasing mechanisation, replacement demand, expanding applications of tractors and implements, and a gradual recovery in key export markets.
She added, “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.”
Strong global presence and distribution network
As one of the largest tractor manufacturers globally and the second-largest in India by volume, TAFE sells over 2 lakh tractors annually.
The company is supported by a robust distribution network of over 1,600 dealers and a strong portfolio of brands, including Massey Ferguson India, TAFE Tractors, Eicher Tractors, and IMT. TAFE exports to more than 80 countries, spanning Asia, Africa, Europe, the Americas, and Russia.