Chennai, April 2, 2026: Tractors and Farm Equipment Limited (TAFE), one of the world’s leading tractor manufacturers and India’s second-largest tractor company, today announced a record performance in FY26, with tractor sales approximately 2,14,951 units, the highest ever in the company’s history.
TAFE concluded the fiscal year on a particularly strong note, delivering 37.4% growth in March 2026, a substantial achievement against the domestic industry growth of 29% 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 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.
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.
Commenting on the performance, Dr.Lakshmi Venu, Vice Chairman, TAFE, 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. 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.”
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.
Looking ahead, TAFE 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 remains confident of sustaining its growth momentum.
About TAFE: tafe.com
TAFE – Tractors and Farm Equipment Limited, an Indian tractor major incorporated in 1960 in Chennai, India. As one of the largest tractor manufacturers in the world and the second-largest in India by volume, TAFE sells over 200,000 tractors annually. TAFE has earned the trust of customers through its range of products, which are widely acclaimed for their quality and low cost of operation. A strong distribution network of over 1,600 dealers effectively supports TAFE’s four iconic tractor brands – Massey Ferguson India, TAFE Tractors, Eicher Tractors, and IMT. TAFE exports tractors to more than 80 countries, powering farms in Asia, Africa, Europe, the Americas, and Russia.
In 2005, TAFE acquired the Tractors, Engines and Transmissions business of the legendary Eicher brand with German roots, through a wholly owned subsidiary – TAFE Motors and Tractors Limited (TMTL). In addition to tractors, TAFE and its subsidiaries have diverse business interests in various sectors including farm machinery, diesel engines and generators, engineering plastics, gears and transmission components, hydraulic pumps and cylinders, vehicle franchises and plantations. TAFE acquired the iconic Serbian tractor and agricultural equipment brand IMT – Industrija Mašina i Traktora in 2018. Furthermore, TAFE acquired FAURECIA’s Indian interior business of Group FORVIA – the French global automotive supplier, in 2022. TAFE has earned the trust of customers through its range of products that are widely acclaimed for superior quality and low cost of operation. TAFE’s social focus has been significant since inception and it contributes towards meaningful causes of agriculture, education, healthcare, community development, disaster relief, conservation and tribal welfare besides supporting traditional art forms.
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