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Beating the industry trend, world’s third largest tractor manufacturer, Tractors and Farm Equipment Ltd (TAFE), on Tuesday, reported 30.4 percent growth from Rs 6,149 crore in 2010—11 to Rs 8,020 crore in consolidated revenues for the financial year ended March 31, 2012.
Overall tractor sales increased sharply by 26.6 per cent at 1,48,112 tractors, as against an estimated industry sale of 6,07,213 tractors and an industry growth of 11.4 per cent for the year. While industry average growth in November-March was 0.66 per cent, TAFE clocked an average growth of 28.58 per cent during the same period, a company statement said here.
Announcing these results, Ms Mallika Srinivasan, Chairman & CEO, TAFE, said, “We are happy that our focus on product development and expansion of our product portfolio have paid off. Our investments in product and process technologies, improvements to our product mix supported by extensive field effort helped us meet the demands of our discerning customers.”
On the export front, TAFE continues to be India’s largest exporter of tractors with 20,396 completely built tractors exported to 73 countries, a growth of 28.2 per cent over the previous year, apart from kits and aggregates exported during the year.
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