Mahindra's Farm Equipment Sector Sells 29,180 Units in India during November 2022

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

Domestic sales in November 2022 were at 29,180 units, as against 26,094 units during November 2021.

Total tractor sales (Domestic + Exports) during November 2022 were at 30,528 units, as against 27,681 units for the same period last year. Exports for the month stood at 1,348 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 29,180 tractors in the domestic market during November 2022, a growth of 12% over last year. Demand continued to remain strong in the post festival period on account of brisk sowing of rabi crops, fuelled by high moisture content in the soil and healthy reservoir levels and is expected to beat last year's record sowing of 70 million hectares. Procurement of Kharif crop has progressed well, bringing liquidity in the hands of farmers and this augurs very well for tractor industry's growth. In the exports market, we have sold 1,348 tractors."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1293.35 as compared to the previous close of Rs. 1307.20. The total number of shares traded during the day was 86115 in over 4930 trades.

The stock hit an intraday high of Rs. 1317.50 and intraday low of 1288.60. The net turnover during the day was Rs. 111807678.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 FarmEquipmentSector November2022 SalesVolume Exports DomesticSales Tractors