Escorts Agri Machinery sold 6,114 tractors in February 2022, MoM Volume up by 7.1%

Escorts Agri Machinery (EAM) in February 2022 sold 6,114 tractors as against 11,230 tractors sold in February 2021, a drop of 45.6 percent year-on-year.

Domestic tractor sales in February 2022 was at 5,686 tractors as against 10,690 tractors in February 2021. The tractor industry wholesales continued to remain subdued in February 2022, due to high base of last year, steep price increases due to higher inflation in commodity prices impacting retails and above normal inventory levels with the channel.

Going forward, we expect overall higher rabi sowing this year, good level of water reservoirs, increased Union budget allocations to rural and agri sector and initial indicators of normal monsoon next year will drive positive momentum for tractor industry in coming year.

Export tractor sales in February 2022 was at 428 tractors against 540 tractors sold in February 2021.

Shares of Escorts Limited was last trading in BSE at Rs. 1852.10 as compared to the previous close of Rs. 1834.55. The total number of shares traded during the day was 16534 in over 1418 trades.

The stock hit an intraday high of Rs. 1857.05 and intraday low of 1825.00. The net turnover during the day was Rs. 30469408.00.

Source : Equity Bulls

Keywords

Escorts INE042A01014 SalesVolume Tractors AgriMachinery February2022 Exports