JM Frictech India targets 20% revenue growth in FY27 on strong tractor demand
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JM Frictech India (JMI) aims for a 20% revenue increase by FY27, primarily fueled by growth in the tractor industry, which constitutes 75% of its revenue. The company, a major supplier to leading OEMs, is expanding its manufacturing capabilities with a new ₹35-crore plant in Chandigarh, set to open by March 2027. JMI holds a dominant market share in wet brake assemblies, producing 80,000 units monthly and 12 million friction discs annually, positioning it as a leader in the off-highway vehicle component sector.
Chennai-based auto component manufacturer JM Frictech India (JMI) is targeting a 20 per cent increase in revenue in FY27, driven primarily by sustained growth in the tractor industry, which accounts for a major share of its business.
The company, which supplies components to original equipment manufacturers (OEMs) including TAFE, John Deere, AGCO, Mahindra, Swaraj, CNH Industrial, Caterpillar, JCB, Escorts Kubota, Sonalika, VECV and Tata Motors, reported revenue of ₹520 crore in FY26, the company’s Managing Director E Madhavan told businessline.
Founded in 2008 as a joint venture between India’s NTC Engineering and South Korea’s Jinmyung Frictech Co Ltd (JMFT), JM Frictech manufactures wet friction systems and hydraulic actuation components for off-highway vehicles. While the Korean company continues as a partner, most of the technology development is now carried out in India, Madhavan said.
The company has invested nearly ₹200 crore in three manufacturing facilities near Chennai and is expanding its footprint with a ₹35-crore greenfield plant at Chandigarh. The new facility, expected to be inaugurated by March 2027, will manufacture braking systems for customers in north and western India.
JMI currently employs around 1,100 people, and the growth in the number will be in sync with the revenue growth, he said.
Agricultural machinery contributes around 75 per cent of the company’s revenue, followed by construction, mining and transmission at 21 per cent, while direct exports account for the remaining 4 per cent.
By product, brakes contribute nearly 80 per cent of revenue, clutches 17 per cent, and hydraulic components 3 per cent.
“The tractor industry has been growing steadily and will be a key driver of our growth,” Madhavan said, adding that the company manufactures around 80,000 brake assemblies every month for the tractor segment.
Madhavan said JMI specialises in wet brakes, wet clutches, hydraulic actuation systems and advanced transmission applications for off-highway vehicles.
“We have benefited from the industry’s transition from dry to wet friction technologies and today command over 75 per cent market share, making us India’s largest producer of wet brake assemblies,” he said.
The company manufactures around 12 million friction discs annually, supplying leading off-highway OEMs. According to Madhavan, this is the highest annual production volume of friction discs by any manufacturer globally.
Original Article
Published on Hindu BusinessLine