Tractors and Farm Equipment Limited (TAFE), India’s second-largest tractor maker, reported its highest-ever annual sales, selling 2,14,951 units in FY26, driven by a strong product portfolio and steady demand across key agricultural regions.
The company on Thursday said it also recorded its highest domestic sales, with both its brands Massey Ferguson and Eicher Tractors posting peak volumes. The company’s exports remained firm, with 12,584 tractors shipped to international markets despite ongoing geopolitical tensions.
“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 release.
TAFE also ended the year with 37.4% year-on-year growth in sales in March 2026, outpacing domestic industry growth of 29%.To meet sustained demand across domestic and export markets, the company’s manufacturing plants operated at full capacity during the year. It is also evaluating capacity expansion plans to support future growth.
“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,” Venu said.
The previous fiscal also saw Chennai-based TAFE and US-based AGCO reach a comprehensive settlement to resolve all outstanding disputes, including those related to brand ownership, commercial arrangements, and shareholding. In July 2025, TAFE secured full ownership of the “Massey Ferguson” brand in India, Nepal, and Bhutan, along with all associated rights, title, and goodwill in the brand and related trademarks in these markets.