TAFE ‘s tractor sales grows by 35.96 % in 2004-05 Tractors and Farm Equipment Limited (TAFE), the Chennai based tractor major has announced a substantial increase in sales of its tractors in 2004-05. The company has sold 33848 tractors in 2004-05 – a growth of 35.96 percent over its previous year sale of 24895 units. Its market share has also improved from 13.03 % in 2003 –04 to 14 % in 2004-05. TAFE now occupies the second position in this highly competitive industry. TAFE has closed the last fiscal with a turnover of close to Rs.1150 Crores and has shown a revenue growth of close to 40 % over the previous year. According to Ms. Mallika Srinivasan, Director, TAFE, ”The year 2004-05 represents a turning point for us. The year saw substantial increase in retail sales and market share apart from excellent financial performances. TAFE has also focussed a great deal on channel and retail financing so that the purchase of tractors by both dealers and customers has been made much easier. The range of new products released in the last three years is really paying off now with large additional contributions to sales volumes.” TAFE’s other divisions such as the Engineering Plastics Division, Gears Division and Power Source Division have also turned in good performances in the last fiscal resulting in turnover increasing sharply to about 1150 crores from Rs 803 crores in 2003-04. According to Ms. Srinivasan” With a good monsoon this year, we anticipate that the tractor market in India will grow by 7 to 10 %. We at TAFE plan to grow at a faster pace through launching a number of new products and expanding our distribution set up which is currently comprises of 375 dealers and close to 2000 customer contact and parts/service points.” For More Information : Vijayakumar Browning Head – Corporate Communications Tractors and Farm Equipment Limited Potti Patti Plaza, 35 Nungambakkam High Road Chennai 600 034 Phones: 044-28279073,044-28220557 Fax: 044-28260224 e-mail:browning@tafe.co.in