Mahindra's Farm Equipment Sector Sells 39825 Units in India during June 2022

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for June 2022.

Domestic sales in June 2022 were at 39825 units, as against 46875 units during June 2021.

Total tractor sales (Domestic + Exports) during June 2022 were at 41848 units, as against 48222 units for the same period last year.

Exports for the month stood at 2023 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 39825 tractors in the domestic market during June 2022. With good prices for Rabi output, cash flow with farmers is good. Government's approval on increase in MSP for all Kharif crops and forecast of a normal monsoon is very positive for a bumper Kharif crop. Though Kharif sowing is lagging in the first fortnight of the season than last year due to deficient rainfall in key kharif states, further advancement of Southwest monsoons across the country brings in positive sentiments and is likely to boost the tractor demands in the coming months. In the exports market, we have sold 2023 tractors with a growth of 50% over last year".

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1108.40 as compared to the previous close of Rs. 1095.05. The total number of shares traded during the day was 117833 in over 6123 trades.

The stock hit an intraday high of Rs. 1112.20 and intraday low of 1064.75. The net turnover during the day was Rs. 128438516.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 FarmEquipmentSector SalesVolume Tractors June2022