Tractors and Farm Equipment LTD., (TAFE) has announced a record performance for the financial year up to 2026, with tractor sales the highest ever in the company’s history.
TAFE concluded the fiscal year delivering 37.4% growth in March 2026, against the domestic industry growth of 29% for the month.
According to TAFE, the faster than industry growth reflects its 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.
To meet sustained demand across domestic and export markets, TAFE’s manufacturing plants operated at full capacity during the year.
The company said it is actively evaluating capacity expansion initiatives to support future growth and reinforce its leadership position in the global tractor industry.
Commenting on the performance, vice-chair of TAFE, Dr. 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 [Goods and Services Tax] 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 mechanisation ecosystem,” Dr. Venu added.
TAFE has emphasised that it remains focused on the rapidly evolving preferences of customers in the sector.
While global uncertainties and inflationary pressures arising from ongoing geopolitical tensions and war-related supply disruptions continue to impact input costs, TAFE said that the underlying fundamentals of Indian agriculture remain resilient.
Looking ahead, TAFE appears 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
TAFE, an Indian tractor major incorporated in 1960 in Chennai, is one of the largest tractor manufacturers in the world and the second-largest in India by volume.
TAFE sells over 200,000 tractors annually utilising a distribution network of over 1,600 dealers exporting tractors to more than 80 countries.
In addition to tractors, TAFE and its subsidiaries have 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.