Mahindra's Farm Equipment Sector records sales of more than 50,000 tractors in October 2022

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

Domestic sales in October 2022 were at 50539 units, as against 45420 units during October 2021.

Total tractor sales (Domestic + Exports) during October 2022 were at 51994 units, as against 47017 units for the same period last year. Exports for the month stood at 1455 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 50539 tractors in the domestic market during October 2022, a growth of 11% over last year. Festive season kept the spirits high and led to very strong momentum in demand for tractors and farm machinery. The recent Government announcement of higher MSP for key Rabi crops, good moisture content in the soil, high reservoir levels and good progress in sowing for Rabi crops are all positives for continued good demand for tractors in coming months. In the exports market, we have sold 1455 tractors."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1353.80 as compared to the previous close of Rs. 1346.75. The total number of shares traded during the day was 187018 in over 5430 trades.

The stock hit an intraday high of Rs. 1366.30 and intraday low of 1346.40. The net turnover during the day was Rs. 253216429.00.

Source : Equity Bulls

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MahindraandMahindra INE101A01026 FarmEquipment Tractors SalesVolume October2022