TAFE Motors & Tractors Ltd
About
TAFE Motors and Tractors Limited, a subsidiary of TAFE – Tractors and Farm Equipment Limited, comprises three key manufacturing divisions. TAFE - an Indian tractor manufacturer incorporated in 1960 at Chennai, is India’s second-largest and among the world’s leading tractor manufacturers, with a turnover exceeding ₹12,500 crores, 25% of India's market share, and sales of over 200,000 tractors annually. TMTL’s Tractors Division in Mandideep, Bhopal, manufactures Eicher-branded tractors known for durability and efficiency, offering both air-cooled and water-cooled models. The Engines Division in Alwar, Rajasthan, produces diesel engines and generator sets (5 to 125 kVA) for agro, telecom, and industrial sectors, while the Transmissions Division in Parwanoo, Himachal Pradesh, manufactures gears and shafts for in-house use and OEMs. TAFE exports to over 100 countries, holds a major stake in AGCO Corporation, USA and has diversified into farm machinery, engines, plastics and hydraulic components.
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Financial Data 2024
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Financial Data
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (INR Cr) | 4397 -0.8% | 4432 19.9% | 3695 2.5% | 3605 21.8% | 2959 -10.2% | 3296 15.2% | 2860 16.5% | 2456 9.2% | 2249 -10.3% | 2508 -12.5% | 2867 21.3% | 2363 14.2% | 2070 33.6% | 1549 17.0% | 1324 - |
| Net Operating Income (INR Cr) | 4106 0.89% | 4070 14.17% | 3565 0.57% | 3544 28.15% | 2766 -12.33% | 3155 14.96% | 2744 15.72% | 2371 5.98% | 2237 -10.14% | 2490 -10.40% | 2779 20.56% | 2305 17.31% | 1965 30.20% | 1509 16.36% | 1297 0.00% |
| Profit (INR Cr) | 625 38.5% | 451 8.4% | 416 -19.1% | 514 39.5% | 369 10.0% | 336 8.2% | 310 20.4% | 258 18.2% | 218 -1.0% | 220 -21.1% | 279 27.7% | 218 17.0% | 187 26.3% | 148 27.9% | 116 - |
| Assets (INR Cr) | 4559 14.3% | 3988 11.3% | 3585 11.5% | 3215 16.9% | 2752 13.7% | 2421 14.1% | 2122 15.1% | 1843 15.9% | 1590 13.3% | 1403 16.6% | 1204 27.4% | 945 27.1% | 743 36.0% | 547 10.2% | 496 - |
| Net Worth (INR Cr) | 4512 14.4% | 3943 11.3% | 3542 11.7% | 3172 17.1% | 2708 13.5% | 2387 14.3% | 2089 15.4% | 1810 15.9% | 1562 14.2% | 1368 16.5% | 1174 27.8% | 919 28.0% | 718 31.7% | 545 33.3% | 409 0.0% |
| Employee Cost (INR Cr) | 277 10.9% | 249 8.5% | 230 3.7% | 222 5.3% | 211 -2.1% | 215 6.0% | 203 14.7% | 177 8.4% | 163 13.0% | 145 0.7% | 143 18.0% | 122 19.0% | 102 31.0% | 78 24.4% | 63 - |
| Interest Cost (INR Cr) | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 8 |
| Cash & Bank Balance (INR Cr) | 203 | 115 | 108 | 62 | 10 | 327 | 87 | 34 | 461 | 361 | 314 | 533 | 212 | 87 | 176 |
| Total Debt (INR Cr) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 87 |
Key Financial Ratios
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit As % Of Revenues | 14.2% | 10.2% | 11.3% | 14.3% | 12.5% | 10.2% | 10.8% | 10.5% | 9.7% | 8.8% | 9.7% | 9.2% | 9.0% | 9.5% | 8.7% |
| Profit As % Of Assets | 13.7% | 11.3% | 11.6% | 16.0% | 13.4% | 13.9% | 14.6% | 14.0% | 13.7% | 15.7% | 23.2% | 23.1% | 25.1% | 27.0% | 23.3% |
| Profit As % Of Networth | 13.9% | 11.5% | 11.8% | 16.2% | 13.6% | 14.1% | 14.9% | 14.2% | 14.0% | 16.1% | 23.8% | 23.8% | 26.0% | 27.1% | 28.3% |
| Interest Cost to EBITDA % | 0.5% | 0.5% | 0.5% | 0.3% | 0.6% | 0.2% | 0.2% | 0.3% | 0.3% | 0.3% | 0.3% | 0.4% | 0.6% | 1.3% | 3.5% |
| Debt to Equity Ratio | - | - | - | - | - | - | - | - | - | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.21 |
| RONW | 14.8% | 12.1% | 10.6% | 15.3% | 14.5% | 13.2% | 15.9% | 15.3% | 14.9% | 17.3% | 26.7% | 26.7% | 24.4% | 31.0% | 28.3% |
| ROCE | 18.0% | 15.2% | 13.2% | 19.9% | 18.2% | 19.8% | 23.7% | 22.2% | 21.1% | 23.5% | 35.7% | 34.5% | 33.2% | 38.9% | 35.6% |