Mahindra and Mahindra?s Farm Equipment Sector (FES), a part of the $7.1-billion Mahindra Group, is targeting 40% share in the rotavator market in the next three years, up from the existing 10% share.
The company aims to achieve this by marketing Maschio-Gaspardo?s rotoary tillage equipment in the Indian market through its AppliTrac business under a licensed agreement. Mahindra entered into a tie up with Italy-based Maschio-Gaspardo during the ongoing CII Agrotech fair. The Indian rotavator market is estimated to be around 50,000 rotavators per annum, which is likely go upto 2 lakh rotavators within the next three years.
Pawan Goenka, president, automotive and farm equipment sectors, Mahindra & Mahindra told FE on the sidelines of the fair, ?We are expanding our product portfolio in the farm mechanisation segment, which is a new business initiative of our company. Our AppliTrac business that focuses on the complete value chain of farm mechanisation solutions has grown to Rs 100 crore business in the last fiscal. We have been manufacturing harvesters at our Mohali plant and aim for a strategic growth in this category. We will also start marketing rice transplanters of Mitsubishi from April next year under a tie up. This equipment will be manufactured in one of our plants in India but the final decision is yet to be taken.?
Talking about the tie up with Maschio-Gaspardo, Goenka said that Maschio will manufacture the rotavators bearing Mahindra brand name.
