Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for March 2022.
Domestic sales in March 2022 were at 28112 units, as against 29817 units during March 2021. Total tractor sales (Domestic + Exports) during March 2022 were at 29763 units, as against 30970 units for the same period last year.
Exports for the month stood at 1651 units.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 28112 tractors in the domestic market during March 2022. Record procurement of Kharif acreage, substantial increase in exports of agricultural products like wheat, sugar and cotton will help improve the financial position of the farmers leading to better cash flow in the rural market to help boost tractor demand going forward. Acreage of kharif crop has already crossed last year's levels, which augurs well for agri incomes. This will get a further boost with early forecast of a normal monsoon. In the exports market, we have sold 1651 tractors, a growth of 43% over last year."
Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 805.80 as compared to the previous close of Rs. 793.15. The total number of shares traded during the day was 114057 in over 4000 trades.
The stock hit an intraday high of Rs. 812.95 and intraday low of 798.00. The net turnover during the day was Rs. 92107805.00.