INTRODUCTION ABOUT TRACTOR INDUSTRY 1.1 WHAT IS TRACTOR?

A tractor is a vehicle specifically designed to deliver a high tractive effort (or torque) at slow speeds, for the purposes of hauling a trailer or machinery used ina g r i c u l t u r e o r c o n s t r u c t i o n . M o s t c o m m o n l y , t h e t e r m i s u s e d t o d e s c r i b e t h e distinctive farm vehicle: agricultural implements may be towed behind or mounted onthe tractor, and the tractor may also provide a source of power if the implement ismechanized. Another common use of the term, "tractor unit", describes the power unit of a semi-trailer truck (articulated lorry).The word tractor was taken from Latin, being the agent noun of trahere "topull . The first recorded use of the word meaning "an engine or vehicle for pullingwagons or ploughs" occurred in 1901, displacing the earlier term traction engine(1859). 1.2 OVER VIEW OF INDUSTRY The tractor industry reported a strong 28.3% growth in sales volumes during2009-10, thereby ending the phase of cyclical correction that had pulled down tractor sales during the preceding two years (2007-09). Significantly, the revival of 2009-10ha p pe ne d d e s pi te t he d ro u g ht- l ik e c o n d it io ns i n ma n y S ta te s d u r in g t h e k ha r if 1season dampening sentiments. The key factor enabling the demand growth of 2009-1 0 w a s s t r o n g r u r a l liquidity, which in turn was sustained by several f a c t o r s , including: higher minimum support price (MSP) for crops; greater ability of farmers tom a k e c a s h p u r c h a s e s ( i n c l u d i n g t h e u s a g e o f K i s a n C r e d i t C a r d w h i c h a r e increasingly being used to part-finance tractor purchases); enhanced employmento p p o r t u n i t i e s ( w i t h r u r a l e m p l o y m e n t s c h e m e s b e i n g i m p l e m e n t e d b y t h e Government of India); an improved credit environment; and continuance o f r e pla c e m e nt de ma n d. T he s e f a c to rs a pa rt , no n - a g r ic u l t ur a l us e o f t ra c to rs ( f o r haulage in construction and infrastructure projects) continued to increase, benefitingtractor demand. Also, with infrastructure projects and rural employment schemesincreasing employment opportunities, availability of labour for agricultural activitiescontinued to decline, persuading even farmers with medium-sized land holdings toeither rent or purchase tractors.On a regional basis, the performance of

the eastern, northern and westernparts of the country was robust during 2009-10 in terms of tractor demand, while thatof the southern region was moderate. A strong growth in tractor volumes, albeit on al o w b a s e , w a s witnessed in the eastern States, including Bihar, Orissa a n d J ha r k ha nd , w hic h ha d a go o d pa d d y c ro p. T ra c to r v o l u me s i n t he no r t he r n a n d we s te rn re g io ns a ls o re po rt e d s tro n g g ro w th d ur i n g 2 00 9- 1 0 , e s p e c ia l ly i n th e s e c o n d h a l f ( H 2 ) o f t h e y e a r , b e n e f i t i n g f r o m a l o w b a s e ( H 2 , 2 0 0 8 - 0 9 ) a n d a s a t is f a c to r y k ha r if c ro p i n s o m e S ta te s . T he s o u t he r n r e g io n re po rt e d mo de ra te p e r f o r m a n c e i n t e r m s o f t r a c t o r d e m a n d ( g r o w t h o f 1 1 . 9 % i n 2 0 0 9 - 1 0 ) , b e i n g impacted largely by the de-growth in Andhra Pradesh (AP) a key southern market where rainfall was irregular in 2009-10. However, in Karnataka and Tamil Nadu,h i g he r M S P s f o r ric e a lo ng wi t h s o m e re v iv a l o f in t e re s t o f p u bl ic s e c to r ba n ks (PSBs) in tractor financing led to strong tractor sales volumes.Liquidity crunch, which pushed up interest rates, even as financiers resortedto more stringent lending norms in the face of rising non-performing assets (NPAs).However, the situation improved during 2009-10 as credit availability improved onthe strength of greater liquidity in the banking system. While tractor financing hast r a d it io na ll y b e e n do ne by P S B s , o f la te , p r iv a t e ba n ks a n d no n - b a n ki n g f i na nc e c o m pa n ie s ( NB F C s ) , d e s pi te t h e i r h ig h e r i n te re s t ra te s v is - - v is t he P S B s , ha v e been able to increase their penetration of this market on the strength of faster loanprocessing and use of more liberal credit norms. Overall, with tractor demand being closely linked to agricultural output, growthin farm mechanization and farmers remuneration, the long-term demand drivers for the industry remain robust. The currently low levels of tractor penetration in India,strong Governmental focus on availability of finance for agriculture mechanizationtools and on rural development, increase in the use of tractors for non-agriculturalpurposes, and the growing emphasis on tractor exports augur well for the industry. Annual Trends in Tractor Sales VolumesMonthly Trends in Tractor Sales Volumes

Overall, with tractor demand being closely linked to agricultural output, growthin farm mechanization and farmers remuneration, the long-term demand drivers for the industry remain robust. The currently low levels of tractor penetration in India,strong Governmental focus on availability of finance for agriculture mechanizationtools and on rural development, increase in the use of tractors for non-agriculturalpurposes, and the growing emphasis on tractor exports augur well for the industry. Annual Trends in Tractor Sales VolumesMonthly Trends in Tractor Sales Volumes

C a p a c i t y u ti l iz a t io n i n th e t ra c to r i nd us t ry ha d h i t a lo w du r i ng 2 00 2- 0 3 ,following large capacity additions and a volume slump. After that, capacity utilizationimproved steadily, but remained moderate at around 50% during 2008-09. In 2009-1 0 , t h e t r a c t o r v o l u m e g r o w t h h a s

h e l p e d t h e O E M s i m p r o v e t h e i r c a p a c i t y utilizations; however, there is still excess capacity in the industry. Thus, over themedium term, most tractor manufacturers would not need to make any significantcapital investments in building capacities.As discussed, the domestic tractor industry has to cope with demand volatilityo n a c c o u n t o f c y c l i c a l trends and the strong linkages it has with a g r i c u l t u r a l production and monsoon rains. Many of the industry players have thus diversifiedi nto r e la te d p ro d uc ts , i nc l ud i n g ge ne ra to r e n gi ne s a n d c ra ne s , b e s i de s f o c us i ng more on exports, to gain some insulation against the volatility in domestic tractor demand. As for tractor exports, while a major part of that currently goes to USA, the OEMs are now exploring various other markets across Europe, Asia and Africa for future exports.

TRACTOR INDUSTRY TRENDS BY REGION The biggest markets for the tractor industry include States like Uttar Pradesh(UP), Andhra Pradesh (AP), Madhya Pradesh (MP), Rajasthan, and Maharashtra,which together accounted for around 50% of the total tractor sales in India during2009-10. The tractor industry witnessed a strong yo-y growth of 28.3% during 2009-10, with most of the States reporting positive growth during the year.The northern region remains the largest tractor market in India with sales of around 1,67,000 units as of 2009-10. This region reported a growth rate of 35.7% involume sales in 2009-10 over the previous fiscal, with the key contributors includingU P , P u nj a b , H a rya n a a n d R a j a s t ha n. T h e no r t he r n re g io n be ne f i te d f ro m h ig h e r MSPs (for crops), limited availability of labour (forcing higher mechanisation), andi nc re a s i ng no n- a gr ic ul t ur a l us e o f tra c to rs . A d d it io na ll y , i nc re a s e d i nf ra s t r uc t u re development activities (especially highways) led to appreciation in land values anduse of tractors for non-agricultural purposes. In some cases, farmers also receivedcompensation for the Government s acquisition of select land patches (adjoiningh ig h wa ys ) , w hic h i nc re a s e d t he a v a il a bi li t y o f c a s h wi t h t h e m. F e e d ba c k f ro m industry players ICRA Rating Feature Tractor Industry: An ICRA Perspective

Trend in Tractor sales across States In Rajasthan however, growth in tractor volumes was relatively subdued in2009-10 (around 24% y-o-y) as compared with the figure for the northern region as awhole. Tractor sales in Rajasthan were especially low in H2, 2009-10 versus H1,2 0 09 - 1 0 , d u e to l o we r k ha rif o ut p u t o n a c c o u nt o f d e f ic ie n t ra i ns a n d i na de q ua te financing availability.In the eastern region, tractor volumes continued to report strong growth in2009-10, albeit on a small base, and went up by 53.8% over 2008-09, being drivenmainly by the higher MSPs announced for paddy. Within the region however, manyfinanciers remained reluctant to finance tractor purchases in some States like Bihar.Nevertheless, in Bihar, tractor volumes grew 66% over 2008-09 to around 29,000units in 2009-10, thereby accounting for over 50% of the total sales in the easternregion.The Bihar market, where tractor penetration had been low historically, hasshown sustained growth over the last few years and become one of the importantm a r ke ts f o r t he tra c to r i n d us tr y. O v e r a l l , i n t he e a s te r n re gio n , g ro wt h i n t ra c to r volumes is expected to moderate, going forward, as the benefit of a low base getdiluted gradually.The western region reported sales of around 92,000 tractor units during 2009-10 a growth rate of 35.7% over the previous fiscal benefiting particularly from thestrong performance that Maharashtra, Gujarat and MP posted during H2, 200910(55% y-o-y growth over H2, 2008-09).The factors contributing to the strong growth in the region during H2, 2009-10i n c l u d e d a b e n i g n b a s e e f f e c t , h i g h e r c r o p p r i c e s ( o f s u g a r c a n e a n d c o t t o n i n Maharashtra, and of cereals and soybean in MP), and greater availability of retailfinance.T h e p e r f o r m a n c e o f t h e s o u t h e r n r e g i o n i n t e r m s o f t r a c t o r s a l e s w a s relatively modest during 2009-10, with the growth rate being around 11.9% over the previous fiscal. While most States in the region reported healthy growth, AP, whichis t he la r ge s t tr a c to r ma r ke t i n t h e s o u t h, de gr e w by 1 0. 4 % i n 2 0 0 9- 1 0. T he A P market has been undergoing a volume correction since 2007-08, with the precedingfour to five years having witnessed a large and sustained volume growth; this factor apart, the de-growth of 2009-10

was also aided by irregular monsoons.The other big market in the southern region, Karnataka, reported growth of 74% in tractor volumes in 2009-10 mainly on the strength of higher MSPs for rice;however, volume growth is expected to moderate in 2010-11 because of the basee f f e c t . I n Tamil Nadu, tractor sales were flat during H1, 20091 0 , b u t t h e performance improved in H2, 2009-10 mainly because of improved retail financingby the PSBs Indian agriculture is characterised by low farm mechanisation, fragmentedland holdings, and high dependence on monsoon rains (in the absence of adequateirrigation facilities). Tractor penetration in India is low at around 13 tractors per 1,000hectares as against the global average of 19 and the US average of 29. While thisdoes indicate the relative backwardness of Indian agriculture, it also points to thes i g nif ic a n t s c o pe t ha t e x is ts f o r ra is in g t ra c t o r pe ne t ra tio n , w h ic h bo de s we ll f o r tractor demand over the long term. Government support for the agricultural sector: Although agriculture contributes just around 20% to India s GDP, it providesemployment to a large rural population, which is why the sector remains a strongfocus area for the Government. The tractor industry benefits significantly from theG o v e r n m e n t a l f o c u s o n a g r i c u l t u r e , w i t h m e a s u r e s s u c h a s n i l e x c i s e d u t y o n tractors (even the excise duty on tractor parts has been lowered from 16% to 8%)and inclusion of tractor financing under priority sector lending (by PSBs) serving aslong-term demand drivers. Financing of tractor purchase is of great significance for the industry, it being a key demand facilitator. Export of tractors: Indian tractor manufacturers have been increasingly t a r g e t i n g t h e international markets over the last few years. The industry exported a total of around3 7 , 9 00 tra c t o rs d ur i n g 2 0 09- 1 0 , w i t h t he US A , A f ric a , S o u t h A m e r ic a , a n d s o me A s ia n c o u n tr ie s be in g t h e to p de s t i na tio ns . T he in d us t ry l e a de r , M a h i n dra a n d Mahindra (M&M), has acquired Yancheng Tractors, the f o u r t h l a r g e s t t r a c t o r manufacturer in China (in terms of FY2008 volumes), to improve its presence in thec o u n t r y . I n t h e d e v e l o p e d

m a r k e t s , I n d i a n t r a c t o r s h a v e a r e l a t i v e l y m a r g i n a l presence, with sales being largely restricted to the hobby farming segment. Outlook Tractor sales are expected to remain healthy in fiscal 2010-11, given the goodra b b i c ro p t his ti me a ro u n d , t he c o n t i n ui n g f i r m n e s s i n t he pr ic e s o f a g ric u l tu ra l products, and the healthy monsoons anticipated during the coming kharif season.Moreover, improving farm mechanization levels (with labor availability in rural areasdeclining), increasing non-agricultural use of tractors, higher credit disbursements for agriculture, and sharper Governmental focus on the farm sector (larger budgetaryallocations) are also expected to encourage tractor sales.The industry s profitability is however expected to remain moderate in themedium term, considering the high competitive intensity and low capacity utilizationlevels, although larger players could benefit from scale economics. As for margins,while they have seen an improvement in 2009-10, they would remain vulnerable toadverse changes in commodity prices.While some States in the northern region have achieved high levels of tractor penetration and farm mechanization, on an all-India basis, the penetration remainslo w, w hi c h a lo n g w i t h t he c ur re n t s ho r ta ge o f f a rm l a bo r a n d c o ns e q u e n t ly r is i ng labor costs, may be expected to lead to greater mechanization and use of tractors.The long-term prospects for the Indian tractor industry hinge on agricultural growthand Government support in areas such as financing availability, tax exemptions, andfiscal stimulus for rural development. Overall, ICRA expects the long-term growth rate for the Indian tractor industry to trend around the historical average of 6-8%,supported by increasing tractor penetration. rate for the Indian tractor industry to trend around the historical average of 6-8%,supported by increasing tractor penetration. 1.5 MARKET STRUCTURE OF TRACTOR MANUFACTURER Market share of the Indian tractor manufacturer in 2004-05. rate for the Indian tractor industry to trend around the historical average of 6-8%,supported by increasing tractor penetration.

1.5 MARKET STRUCTURE OF TRACTOR MANUFACTURER Market share of the Indian tractor manufacturer in 2004-05. Up to 2004-05 the industry is dominated by Mahindra and Mahindra (M&M) with amarket share of around 26%, followed by Tractors and Farm Equipments TAFE,which holds around 14% of the market. The other major players include Escorts(13.1%), PTL (7.8%). Market share of the Indian tractor manufacturer in 2009-10

r0 , a d 1 n E 4 0 A 2 c % s . o T t i F & M h L R S 7 8 H N J O D The Indian tractor industry has around 13 national players and a fewregional players. The industry is dominated by Mahindra and Mahindra (M&M) with amarket share of around 41.1%, followed by Tractors and Farm Equipments TAFE,w h ic h ho l ds a ro u nd 2 2% o f t he ma r ke t. T he o t he r ma j o r p la ye rs inc l u de Es c o r ts (12.1%), L&T-John Deere (7.8%), and

International Tractors Limited (8.9%). Duringthe last few years, the industry has seen some consolidation with M&M acquiringPunjab Tractors (PTL) and TAFE acquiring Eicher Tractors. Most of the tractors soldin India are in the 21-50 HP range, with the 31-40 HP category alone accounting for around 50% of this. HISTORY 1921 INDIA The origin of Mahindra Gujarat tractor ltd. Can be traced back to thepioneering work of Mr. Pashabhai Patel the original promoter of who foundeda business under the name of Pashabhai Patel co. pvt. Ltd. 1964 INDIA 5 00 tra c to rs we re pro d uc e d u n de r t he gu i da nc e o f pa s ha b ha i P a t e land the company had collaborated with MOTOKOV. 1972 INDIA Due to undesirable problem tractor and bulldozer was handed over byGujarat agro ltd. And the name changed to Hindustan Tractors Ltd. 1975 INDIA Ownership of the company was passed into the hands of Gujarat Stategovernment named it is GUJARAT TRACTOR CORPORATION LTD (GTCL). 1999 ONWARDS INDIA The disinvestment of the Gujarat state government invited M&M grouppartnership.T he ma na ge me n t w a s ha n de d o v e r to M a h i n dr a a n d M a hi n d ra a n d 1999 onwards company called by name MAHINDRA GUJARAT TRACTORLTD (MGTL). MGTL is an ISO 9001:2000 company. It is subsidiary company of Mahindraand Mahindra. The company was incorporate in the state of Gujarat government on31st March 1978 in the name and style of Gujarat tractor corporation ltd which ispromoted by government of Gujarat.The company was taken over by Mahindra and Mahindra which holds 60%equity and state government holds 40% equity in recent scenario and now companycalled by MAHINDRA GUJARAT TRACTOR LTD (MGTL).

Mr. Jagdishchandra Mahindra and Mr. Kailashchandra Mahindra was thef o u n d e r o f t h e M a h i n d r a a n d M a h i n d r a g r o u p . M a h i n d r a and Mohammed wasformed in 1945 but later on in 1948 t h e c o m p a n y r e n a m e d b y M a h i n d r a a n d Mahindra ltd. Which were deals with steel trading business.MGTL is engaged in manufacturing of tractors which are marketed under SHAKTIMAAN brand what they need and want through creating, offering, and exchanging the product of value. Activities of department. Main activity of the department is to develop marketing strategies and plans whicha re l i ke , c o n ne c ti n g w i t h c us to me r, s ha p in g t h e ma rk e t o f f e ri n gs , d e l iv e r i ng t he value, communicate the vale, create long term growth etc. Communicating value by Sales promotional activity by . Road show. Demo van. Demo tractor. Participation in Krushi activity. Various schemes to dealers. Free service to customer. Guarantee and warrantee. Point of purchase (P-O-P) Displays and demonstrations MARKET SEGMENTATION Market segmentation means dividing a market into district groups of buyers withdifferent needs, characteristic or behavior. We might require separate products or marketing mixes? It refers to large heterogeneous market into smaller homogeneouspa r ts i n o r de r to s e le c t a ny o ne o u t t he m i n

w hic h t h e c o m pa ny t hi n ks i t s a t is f ycustomer more effectively different products for different segmentation. MGTL segmenting market by Region vise Customer base like farmer, industrial purchase or for government and specialcustomer base etc. Major competitors of MGTL Tractor and Farm Equipment Ltd and also this company has overtakenEscorts tractor Ltd. Mahindra Tractor and this company also has overtaken Gujarat tractor ltd.And Punjab Tractor Ltd.(SWARAJ TRACTOR). L&T JOHN DEERE. FORD TRACTOR. ESCORTS TRACTOR. SONALIKA TRACTOR.

Tractor and Farm Equipment Ltd and also this company has overtakenEscorts tractor Ltd. Mahindra Tractor and this company also has overtaken Gujarat tractor ltd.And Punjab Tractor Ltd.(SWARAJ TRACTOR). L&T JOHN DEERE. FORD TRACTOR. ESCORTS TRACTOR. SONALIKA TRACTOR.

2.16 OVERVIEW OF TAFE is a US$750 million tractor major incorporated in 1960 at Chennai inIndia, in collaboration with Massey Ferguson (now owned by AGCO corporation,USA). TAFE acquired the Eicher tractors business, its engine plant at Alwar andtransmissions plant at Parwanoo through a wholly owned subsidiary TAFE Motorsand Tractors Limited. 3. Eicher 2.18 OVERVIEW OF MAHINDRA TRACTOR. Farm Equipment Sector (FES) is a part of US $6.3 billion Mahindra group,w h ic h i s a mo n gs t t he to p 1 0 i n d us tr ia l ho us e s i n I n d ia . T he gro u p h a s a l e a di n g pr e s e nc e i n ke y s e c to rs o f t h e I n di a n e c o no m y, i nc l u di n g t he f i na nc ia l s e rv ic e s , t r a d e , r e t a i l a n d logistics, automotive components, after-market, i n f o r m a t i o n technology and infrastructure development. Mahindra has recently made an entry inthe two-wheeler segment.The Mahindra group's Farm Equipment Sector (FES) is amongst the top threetractor brands in the world. It has won the Japan Quality Medal in 2007. It also holdst h e d i s t i n c t i o n o f being the first tractor company globally to win the D e m i n g Application Prize in 2003. FES is the first tractor company worldwide to win thesehonors. This shows the strong focus of FES on Quality and Customer Satisfaction. Today, the domestic market share of FES is around 42%. (Mahindra brand: 30%and Swaraj brand: 12%).T h e m o t t o o f F E S i s t o u s h e r prosperity; for its customers, dealers,employees, society and all other stakeholders.FES has 6 state-oft h e - a r t ma n uf a c t u ri n g p la n ts ( i nc l ud i n g 2 p la n ts o f S wa r a j ) i n I n di a , 2 p la nts in C h i na , 3assembly plants in USA and 1 assembly plant in Australia. FES has its presence inaround 25 countries across six continents with more than 1000 dealers world-wide.F ES ha s a s u bs i d ia ry a gr ic u lt u ra l tr a c to r ma n uf a c t u ri n g c o m pa n y i n I n d ia known as Mahindra Gujarat Tractor Limited (MGTL).M a h i n dra G r o u p ha s c o m me nc e d t he S us t a i na b il i t y R e p o rt i n g f ro m 2 00 8. T o d a y , M & M group is amongst the few Indian companies to have an A+ G R I c e r ti f ic a t io n. A s p e r t h e c o m m it m e n ts g i v e n b y t he G ro u p

u n de r G R I f ra me wo r k,significant reduction in usage of electricity, water and solid waste is called for. Tomake FES employees aware on the tenants of sustainability, various initiatives likeeasily accessible information on sustainability, setting up of permanent sustainabilityc o r n e r s i n a l l F E S plants, observing of energy conservation month etc. a r e undertaken Farm Equipment Sector (FES) is the no. 1 tractor brand in India, since 1983.Brand Mahindra sells a range of tractors that include Bhoomiputra, Shaan, Sarpanchand Arjun Ultra-1, with each (except Shaan) having range of variants based on theho rs e po we r ( h p) a n d o t h e r a t t r ib u te s . M a h i n dra tra c to rs a re k no w n f o r h ig h f u e l e f f ic ie nc y a n d re l ia b il i t y. F ES s e l ls i ts 1 5 H P to 7 5 H P c a te go r y t ra c to rs i n t he domestic market

FES has a large customer base of more than 21, 00,000 customers (includingSwaraj). The sector has time and again topped the customer satisfaction chart. FESalso has the deepest distribution reach with more than 680 dealers along with widestservice network across India. The sector has four manufacturing facilities in India,located in Mumbai and Nagpur in Maharashtra, Rudrapur in Uttaranchal and Jaipur in Rajasthan.There is a strong commitment on part of the top management to make thep ro d uc tio n s ys te m e v e n mo r e e f f ic i e n t t h ro u gh pr o a c t iv e l y f o llo w i ng wo r l d- c la s s m e t h o d o l o g i e s l i k e Q C s t o r y a n d Q C t o o l s , S i x S i g m a , D O E ( D e s i g n o f Experiments) and TPM ( Total Productive Maintenance).M a h i n d r a & M a h i n d r a h a d a c q u i r e d a m a j o r i t y s t a k e i n P u n j a b T r a c t o r s Limited (PTL) in early 2007. PTL is a good strategic fit to the company, as it comesw i t h its s tr e ng t h o f e f f ic i e nt de s ig n ( s t ro n g R & D a b il i t ie s ) a n d t h e B ra n d S wa ra j , which enjoys a strong customer loyalty for being sturdy and reliable. Benefits of thisacquisition include advantages of economies of scale, sourcing benefits and vendor rationalization. Post Mahindra PTL merger in February 2009, PTL is now a part of Mahindra FES. It is known as Swaraj Division.The Farm Equipment Sector is a process driven organization with a strongfocus on quality systems. All FES plants are ISO 14001 (Environment ManagementSystem), OHSAS 18001 (Occupational Health and Safety Management System) andISO/TS 16949 (Quality Management System)

certified.The Farm Equipment Sector is a process driven organization with a strongfocus on quality systems. All FES plants are ISO 14001 (Environment Managemen Mahindra Swaraj: Swaraj Group, part of Mahindra & Mahindra (FES Sector) is a dynamic and growinggroup, wherein focus is laid on generating economic prosperity for stakeholders,while growing harmoniously with the community and environment.Swaraj is one of the leading tractor manufacturers in India and the company is totallyindigenous. Nearly 6, 00,000 Swaraj tractors operate in the field providing durabledelight to the discerning farming community of India. Swaraj has over 600 dealersacross the country.Swaraj Group has achieved ISO 14001:2004 & OHSAS 18001:2007 Certificationand TS 16949 certification for Swaraj Automotives Ltd. 2.19 PRODUCT STRUCTURE OF MAHINDRA TRACTOR