Stock Report

Mahindra's Farm Equipment Sector Sells 21684 Units in India during July 2022

Posted On : 2022-08-01 12:28:58( TIMEZONE : IST )

Mahindra's Farm Equipment Sector Sells 21684 Units in India during July 2022

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

Domestic sales in July 2022 were at 21684 units, as against 25769 units during July 2021.

Total tractor sales (Domestic + Exports) during July 2022 were at 23307 units, as against 27229 units for the same period last year. Exports for the month stood at 1623 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 21684 tractors in the domestic market during July 2022. After a very robust Q1 wherein we achieved a volume growth of 18%, the month of July witnessed normalization in volumes. July is traditionally a lean month as the land preparation phase, wherein a tractor finds highest utility, gets over and farmers start sowing their crops. Monsoon, which is a key determinant of Agri growth has stayed on course so far. Overall rainfall has been higher than normal barring few states in Eastern part of the country, which have received deficient rainfall until now. With these states being country's key paddy producing markets, recovery in rainfall is crucial. Festive season falling in later half of August and sufficient rainfalls across most of geographies will shape up the industry in the upcoming months. In the exports market, we have sold 1623 tractors, a growth of 11% over last year."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1164.75 as compared to the previous close of Rs. 1149.20. The total number of shares traded during the day was 103138 in over 5986 trades.

The stock hit an intraday high of Rs. 1184.35 and intraday low of 1152.00. The net turnover during the day was Rs. 120330474.00.

Source : Equity Bulls


MahindraandMahindra INE101A01026 FarmEquipmentSector TractorSales July2022