Cash Deployment Strategy & Value Creation
FARM ... Strategic imperatives
Opportunity
Domestic tractor industry will continue to grow
2.4
4.0
Hp/hectare
1.9
0.8
FY15
FY20
FY23
Govt target¹
Opportunity to grow our share in global markets
41.2
F23 Relevant tractor Market
share,%
4.4
Global (ex China)
India
Significant potential for Farm Machinery
Ratio of FM industry to tractor
industry
1.7
M&M India market share in Tractor vs
Farm Machinery, %
41.2
1.
Strategic Actions
Build a domestic fortress through product launches
and channel expansion:
Grow market share
Industry-best profitability
2. Significantly grow international business: with a focus
on product launches and new market entry
3. Pioneering technology leadership: Bring disruptive
change through electrification, automation, loT
devices
4.
Scale FM India exponentially: by building out product
portfolio and channel expansion
5. Leverage partnerships for FM and global growth, and
for technology solutions
0.2
India
FM industry $1.2Bn
Global
$100 Bn
6.0
Tractor
Farm Machinery
1. NABARD report, with F30 Govt target of 4.0 hp/hectare 2. <150 hp tractor industry
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