Mahindra's Farm Equipment Sector Sells 27,170 Units in India during February 2021

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, today announced its tractor sales numbers for February 2021.

Domestic sales in February 2021 were at 27,170 units, as against 21,877 units during February 2020.

Total tractor sales (Domestic + Exports) during February 2021 were at 28,146 units, as against 22,561 units for the same period last year.

Exports for the month stood at 976 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 27,170 tractors in the domestic market during February 2021 with a growth of 24% over last year. Tractor demand continues to be robust with Rabi sowing at an all-time high, supported by healthy reservoir levels and higher liquidity with farmers, on account of timely and robust procurement of Kharif crops. The outlook for the industry continues to be positive given the all-time high estimates of Rabi production and strong rural cash flows. In the exports market, we have sold 976 tractors, a growth of 43% over last year."

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.804.85 as compared to the previous close of Rs. 859.4. The total number of shares traded during the day was 488064 in over 19767 trades.

The stock hit an intraday high of Rs. 852 and intraday low of 799.1. The net turnover during the day was Rs. 399412921.

Source : Equity Bulls

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