TAFE - Tractors and Farm Equipment Limited

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TAFE - Tractors and Farm Equipment Limited
Privately held company
Industry Conglomerate
Founded 1960
Headquarters Chennai, Tamil Nadu, India
Area served
Worldwide
Products Tractors, farm machinery, diesel engines, batteries, gears and transmission components, engineering plastics, hydraulic pumps and cylinders, vehicle franchises and plantations.
Revenue INR 96 Billion (2013-14)
Number of employees
5000-10000
Slogan "Cultivating the World"
Website TAFE.com

Tractors and Farm Equipment Limited (TAFE), is an Indian tractor major incorporated in 1960 at Chennai, with an annual turnover ofINR 96 billion (2013-14).The third-largest tractor manufacturer in the world and the second largest in India by volumes, TAFE wields25% market share of the Indian tractor industry with a sale of over 170,000 tractors (domestic and international) annually.

TAFE's partnership with AGCO Corporation and the Massey Ferguson brand for 53 years is an outstanding example of TAFE's commitment to its values of building long-term relationships with its stakeholders, through fair and ethical business practices.In the Indian market, TAFE has earned the trust of its customers through its wide range of products that are known for high quality and low cost of operation, backed by over 1000 strong distribution network that effectively supports its three tractor brands of Massey Ferguson, TAFE and Eicher. TAFE exports tractors in partnership with AGCO and independently, powering farms in over 75 countries including developed countries in Europe and the Americas.

Besides tractors, TAFE and its subsidiaries have diverse business interests in areas such as farm machinery, diesel engines and gensets, engineering plastics, gears and transmission components, batteries, hydraulic pumps and cylinders, passenger vehicle franchises and plantations.

From a humble beginning with just one tractor model in 1961, TAFE today is recognized as a high quality mass-manufacturer with an extensive product range to meet the expectations of every farmer and every farm mechanization need. TAFE's R&D facilities are centers of excellence renowned for their innovative design and engineering expertise and have been recognized by the Department of Scientific and Industrial Research, Government of India. Extensive research and testing ensures that TAFE's products meet its exacting performance standards.

TAFE's Turkey plant manufactures a wide range of tractors for distribution in Turkey through AGCO's dealer network, whileanother facility at China caters to TAFE’s ever growing global sourcing needs and value addition to its Indian and worldwide operations. TAFE acquired Eicher's tractors, gears and transmission components and engines business in 2005 through a wholly owned subsidiary, TAFE Motors and Tractors Limited (TMTL). With six tractor plants, an engines plant, two gears and transmission components plants, two engineering plastics units, two facilities for hydraulic pumps and cylinders and one batteries plant besides other facilities, TAFE employs over 2500 engineers apart from a number of specialists in other disciplines.

TAFE believes in sound corporate governance and has illustrated the same through the years by establishing a solid balance between being a consistently profit-making company while keeping ethical business practices and values intact. In 2008, TAFE won the Star Award for Unlisted Companies from Business Standard newspaper and has been awarded the Samman-Patra for over a decade since 1998 for prompt payment of statutory levies such as the Central Excise.

TAFE,reputed for being a consistent profit-making company, believes in sound corporate governance and ethical business practices. TAFE's commitment to Corporate Social Responsibility involves contribution to the environment and society while facilitating growth of all stakeholders with equal fervor, embodying the role of a responsible corporate citizen. Its social focus has been significant since inception with contributiontowards education, healthcare, agriculture, community development and supporting traditional art forms.

TAFE is committed to the Total Quality Movement (TQM). In the recent past, various plants of TAFE have garnered, three ‘TPM Excellence Awards’ from the Japan Institute of Plant Management, the ‘Frost & Sullivan - IMEA Award’ for significant progress towards reliable processes, the ‘Regional Contributor Award’ for quality supplies from Toyota Motor Company, Japan, the ‘Manufacturing Supply Chain Operational Excellence - Automobiles Award’ at the second Asia Manufacturing Supply Chain Summit for its supply chain transformation, as well as a number of other regional awards for TPM excellence.Its tractor plants are certified under ISO 9001 and under ISO 14001 for their environment friendly operations. In 2008, Business Standard awarded TAFE the ‘Star Award for Unlisted Companies’. TAFE has the distinction of having received the commendation for "Significant Achievement on the journey towards Business Excellence" by the CII-EXIM Bank Business Excellence Award jury in 2012, and in 2013the Public Relations Council of India conferred TAFE with the ‘Corporate Citizen of the Year’. TAFE has been recently named the ‘Best Employer in India 2013’ by Aon Hewitt and has the distinction of receiving commendation for ‘Significant Achievement on the journey towards Business Excellence’ by the CII-EXIM Bank, Business Excellence Award jury in 2012.

TAFE is a part of the Amalgamations Group based at Chennai, one of India's largest light engineering groups, comprising 41 companies, involved in the design, development and manufacture of diesel engines, automobile components, light engineering goods, plantations and services.