M&M to invest Rs 5000 crore in Farm business till FY27
The company spends about Rs 1000 crore annually on building products, adding capacity, and maintaining plants. An additional amount of Rs 600 crore has been set aside to meet future emission norms of TREM V.
The company spends about Rs 1000 crore annually on building products, adding capacity, and maintaining plants. An additional amount of Rs 600 crore has been set aside to meet future emission norms of TREM V
Hemant Sikka, President of Mahindra & Mahindra's farm equipment sector, told Autocar Professional that the company expects the tractor market in India to grow at a CAGR of over 6% in the mid-to long term, and M&M is preparing to participate in this growth.
The company is also banking on Oja for growth in international business, with the launch of the range in the US, Europe and Thailand.
The Indian Meteorological Department has predicted an above-normal monsoon in FY25, boosting sentiment and driving tractor demand. The company expects the positive benefit of a shift in Navratri festival in Q1 FY25 and Q425.
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