Mumbai, August 28, 2017: Mahindra & Mahindra Ltd. (M&M), a part of the USD 19 billion Mahindra Group, today announced a new strategic direction for its subsidiary, Mahindra Gujarat Tractors Limited (MGTL), now renamed as Gromax Agri Equipment Limited. Gromax will provide distinctive and affordable mechanisation solutions to the farming community.
Gromax has also announced the launch of its all new tractor brand, Trakstar. This brand will focus on value seeking farmers and enable them to enhance their prosperity. The Trakstar range will be present across five HP points in the 30–50 HP category. Gromax’s vision is to raise farm mechanization levels across the country and provide a distinct value proposition with multiple opportunities for customers wanting to move ahead in life.
Speaking on the vision for Gromax Agri Equipment Limited, Rajesh Jejurikar, President – Farm Equipment Sector, Mahindra & Mahindra Ltd said, “Gromax will be an important element of our journey of transformation towards a higher penetration of farm mechanization, enabling farmers to double their income.The Trakstar range of tractors will compete in 80% of the industry. We are thankful to our partner in Gromax, the Government of Gujarat for all their support in our endeavour to herald a new age of transformation”.
Sanjay Prasad, Principal Secretary, Agriculture, Government of Gujarat said, “We are glad to see the enhanced focus of the company and its new products which will help the farming community. Our Government has charted out a clear roadmap for farm mechanization and agricultural development for the welfare of the farmers to accelerate agricultural modernization. We are sure that Gromax will play a significant role in helping us achieve this vision.”
Gromax Agri Equipment Limited is a jointly owned company between Mahindra & Mahindra Ltd. and the Government of Gujarat with an equity ratio of 60% and 40%, respectively.
The Trakstar range of tractors will be launched in a phased manner across key markets, which covers 80% of the tractor industry. The evolution of Gromax is necessary as the company sees the space for an all new tractor brand for farmers looking beyond mainstream brands.
Gromax Agri Equipment Limited has brought in a new and experienced operating management who will drive the growth agenda forward. The company has an existing plant in Vadodara, Gujarat.