Declaring its financial results for the year ending March 2009, Mahindra says its gross revenues and other income for the year ended 31st March 2009 grew by 8.9 percent to about A$8.31 billion.

Tractor sales in India during this timescale amounted to 120,202 units – ten times the size of the Australian market – and include its newly acquired Swaraj which was assimilated into the group in August 2008.

Meanwhile, to consolidate its operations in China, the second largest and one of the fastest growing tractor markets in the world, Mahindra recently inaugurated its second Joint Venture in the country.

A new company, Mahindra Yueda Yancheng Tractor Company, has been formed between Mahindra’s Farm Equipment Sector and Jiangsu Yueda Yancheng Tractor Manufacturing Co. Ltd., a leading Chinese tractor manufacturer.

This Joint Venture Company ceremoniously rolled out its 125hp tractor at a colourful ceremony at the company’s new 38,000 unit tractor capacity plant at Yancheng, last month.

Apart from having manufacturing facilities in India and China now, the company also has two assembly plants in USA.

The company pre-dominantly manufactures tractors in the 20-80hp range.

It also sources compact tractors from Mitsubishi Agricultural Machinery of Japan, and distributes these under the Mahindra brand in select countries.

In Australia the company says it retailed more tractors in 2008 than in 2007, offering 16 models in the compact and utility tractor range, including four models it launched in the course of the last six months.

Footnote: In 2007, Mahindra became the only tractor manufacturing company in the world to receive the coveted Japan Quality Medal for excellence in Total Quality Management, awarded by the by the Union of Japanese Scientists and Engineers.