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★ Analysts see FY2028 revenue reaching $1.85T — +10.9% growth in a single year.
What Moves the Stock
01Monsoon rainfall patterns and agricultural commodity prices (wheat, rice, sugarcane) - directly impact tractor demand with 3-6 month lag
02Monthly tractor and SUV retail sales volumes - market share gains/losses versus Escorts, VST Tillers (tractors) and Tata Motors, Maruti (SUVs)
03Government rural support schemes - MSP increases, PM-KISAN direct transfers, farm loan waivers boost purchasing power
04Raw material costs (steel, aluminum, rubber) and rupee/dollar exchange rate affecting input inflation
05New SUV model launches and order book strength - Thar, Scorpio-N, XUV series driving premiumization narrative
06Farm Equipment Sector (~45-50% of revenue): Tractors, farm machinery, implements with dominant market position in India and growing international presence