Report on
Millat tractors Financial Highlight
history, vision mission product introduction
Ratio Analysis 2006 to 2014 with graph
Share prices of 10 years of every each day.
1. MMIILLLLAATT TTRRAACCTTOORRSS LLIIMMIITTEEDD
IINNTTRROODDUUCCTTIIOONN
Millat Group is Pakistan’s leading engineering concern in automobile sector & has a history that spans
almost half a century. Millat Group encompasses four major companies MILLAT TRACTOR LIMITED, MILLAT
EQUIPMENT LIMITED, MILLAT INDUSTRIAL PRODUCT LIMITED and BOLAN CASTINGS LIMITED.
Today the group manufacturers: Tractor under licensing agreement with Massey Ferguson, UK (owned by
AGCO, USA), Diesel Engine, Diesel Generating Sets and Prime Movers, Forklift Trucks under license from M/s
Anhui Heli Co. LTD. China, a range of Agriculture Implements, Gears, Batteries and Automotive castings. The
company is also dedicated to customize its products as per customer’s requirements
Millat Group has played a pivotal role in transfer of technology & transformation of the fledging local light
engineering sector into a robust, vibrant, quality conscious Auto Vending Industry. The fact that Millat
Tractor has a market share of more than 50% and indigenization level of 90% is a testament to the efforts of
Millat Group over that last 47 years.
CCOOMMPPAANNYY’’SS VVIISSIIOONN::
“Millat to be global group of companies, recognized for a range of quality products with innovative design
capabilities”.
CCOOMMPPAANNYY’’SS MMIISSSSIIOONN::
“Millat to be market leader in agricultural tractors and machinery, building companies image through
innovation and competitiveness, grow by expanding market and investing into group companies, ensuring
satisfaction to customers and stakeholders and to fulfill social obligations.”
2. AABBOOUUTT TTHHEE CCOOMMPPAANNYY::
Millat Tractors Limited is a Pakistan‐based company engaged in the assembly and manufacturer of
agricultural tractors, implements and multi‐application products. Millat Tractors Limited (MTL) is an ISO
9002 certified company for its Assembly Plants (Tractor Assembly, Engine Assembly, and
Industrial/Agricultural Products), Material Testing and Gauge Control Laboratory. It is Pakistan’s leading
engineering concern in the automobile sector, that manufactures;
• Tractors, under licensing agreement with Massey Ferguson, UK (AGCO, USA)
• Diesel Engines
• Diesel Generating Sets and Prime Movers
• Forklift Trucks, under license from Anhui Heli Forklift Trucks China and
• A range of Agricultural Implements.
The company is also dedicated to customize its Diesel Generating Sets and Prime Movers asper requirement
of its Customers. The company has spread its products throughout the length and breadth of the country.
Today the number of MF tractors made by MTL exceeds 250,000 while the total number of tractors in the
country is approximately 500,000, giving it a market share of above 50%. In other words every second
tractor in Pakistan is MF. This achievement has been made possible only through the Company’s
commitment to Quality, After Sale Service, and competitive Prices. During the fiscal year ended June 30,
2010, the Company delivered 40,140 tractors. In fiscal 2010, it produced 40,178 tractors. And in this year
2013, their target is to achieve production of about 32,000 tractors.
HHIISSTTOORRYY
Millat Tractors Limited (MTL) was established in 1964 to introduce and market Massey Ferguson (MF)
Tractors in Pakistan. An assembly plant was set up in 1967 to assemble tractors imported in semi-knocked
down (SKD) condition.
The company was nationalized under Economic Reforms Order in 1972 and started assembling and
marketing tractors on behalf of Pakistan Tractor Corporation (PTC) which was formed by the Government for
import of tractors in SKD condition. In 1980 the Government decided on indigenization of the tractors and
entrusted this task to PTC (Pakistan Tractor Corporation).PTC transferred this role of indigenization in 1981
to MTL. This was the turning point in the Company’s history and it went about the task methodically and
rapidly. The Company undertook this new role with enthusiasm and in the spirit of national development
and proved its engineering capabilities by surprising the deletion targets set by the Government. Just in one
year’s time, the company took a giant step towards self-reliance by setting up the first engine assembly plant
in Pakistan.In 1992, the company was privatized. The employees joined hands and took over the
management by winning an open bid.