1Copyright © 2012 Mahindra & Mahindra Ltd. All rights reserved.

Analyst Meet F15

Mahindra Farm Equipment

Sector

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Recap : May’14 Analyst Meet

F15 Industry Outlook

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Stability in Volatility

0.6%

31.7%

20.0%

11.4%

-1.5%

20.2%

25.1%

46.9%

21.7%

10.1%

-4.7%

21.5%

11.0%

18.9%17.5%

15.7% 15.5%

17.1%

F09 F10 F11 F12 F13 F14

Ind Grwth

FES Grwth

PBIT %

Recap : May’14 Analyst Meet

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Tractor Industry Historical Volumes

F15 Industry drop by 13.1% (Highest in last 10 years)

F73 to F15 : 7.9% CAGR

F04 to F14 : 13.6% CAGR

•Industry is Volatile with Highs/Lows

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Untimely rainfall

MarFebMar NovOctAug DecMay Jun JulApr Jan

Untimely

hailstorm

and rainfall

El Nino & below

normal rains

predicted

Delayed monsoon

& reduced sowing

Kharif Sowing below

normal.

Harvesting season, yields start

falling, reduced price

realization for crops, reduced

incomes & cash flow

Sep

Low Sentiments throughout the year

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Stability in Volatility

Our de-growth is in line with industry

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Tractor Volumes

Industry Drop : 13.1 %

2,58,339

2,21,020

40.6% 40.0%Market share

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Another year of Domestic Market

Leadership

32 Years

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Growth in Applitrac Business

232259

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Segment Results

Rs.Cr.

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Arjun Novo

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Arjun Novo

Launched in Aug 2014

Tech image for Mahindra Tractors

~6,000 units sold till date

Market Share gain: 3.7% in >50 hp (Aug to March)

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Leveraging Technology : Tab enabled sales talk,& High Tech Demos

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Committed to growth

in Global Markets

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Growth in Tractor Exports

10,364

13,866

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Overseas Ventures

Mahindra USA

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Overseas Ventures

Mahindra China

•Industry on a downward trend

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200320hp-40hp Tractors

for Mahindra USA

2010Agreement with MAM to make

Walk-behind trans-planters

2014Mahindra supplies

engines for tractors

2015Agreement to make a light weight

4WD Tractor for India

Building Relationship through AlliancesPartnering with , Mitsubishi Agricultural Machinery Co. Ltd. (MAM)

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Investment of USD 25 mn for acquiring 33% voting stake in MHI subsidiary

Total Revenue $408 mln(F15) and EBIT positive

MAM is a full range agri machinery player with a strong product pipeline

– Tractors, Harvesters ,Rotavator ,Rice Transplanters,Power Tillers & other implements

Acquisition will help in global growth and to expand our reach to US,SE Asia and other

markets.

New Ventures

Mitsubishi Agricultural Machinery Co. Ltd. (MAM)

Tractors (18hp to 51 Hp)

Rice special, Light weight utility tractors

Rice Transplanter

Ride on , 4-6 rows

Combine harvester

Crawler type suited to Rice

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Industry Outlook F16

• Skymet (pvt weather forecaster) forecasts

normal monsoon-102% of LPA with a error of +-4%

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