Escorts Agri Machinery Volume grew by 31.1 percent in May 2022

Escorts Ltd Agri Machinery Segment (EAM) in May 2022 sold 8,421 tractors, our highest ever May sales, registering a growth of 31.1 percent as against 6,423 tractors sold in May 2021.

Domestic tractor sales in May 2022 were at 7,667 tractors registering a growth of 24.5 percent against 6,158 tractors sold in May 2021. We see rural sentiment gradually improving inspite of low crop yields due to extreme heat conditions this harvest season, on account of better crop price realization and forecast of normal rainfall and possible timely sowing this year. With recent Government actions, Inflation may stabilise in near term and operating leverage may further possibly help in partially diluting the impact on margins in coming quarters.

Export tractor sales in May 2022 was at 754 tractors against 265 tractors sold in May 2021, registering a growth of 184.5%.

Shares of Escorts Limited was last trading in BSE at Rs. 1630.70 as compared to the previous close of Rs. 1637.65. The total number of shares traded during the day was 13355 in over 1311 trades.

The stock hit an intraday high of Rs. 1644.30 and intraday low of 1578.35. The net turnover during the day was Rs. 21655830.00.

Source : Equity Bulls

Keywords

Escorts INE042A01014 AgriMachinery SalesVolume May2022 Tractors