Mahindra's Farm Equipment Sector Sells 27,626 Units in India during January 2023

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for January 2023.

Domestic sales in January 2023 were at 27,626 units, as against 21,162 units during January 2022.

Total tractor sales (Domestic + Exports) during January 2023 were at 28,926 units, as against 22,682 units for the same period last year. Exports for the month stood at 1,300 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 27,626 tractors in the domestic market during January 2023, registering a growth of 31% over last year. We are off to a good start to the year with promising Rabi crop outlook as sowing acreage for key crops of wheat, pulses and oil seeds has already surpassed previous year levels, supported by conducive soil and weather conditions. This bodes well for the coming months, as the farmers start harvesting this bumper crop. In addition, continued government focus and higher investment in this sector will aid positive sentiments and boost tractor demands. In the exports market, we have sold 1300 tractors."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1378.60 as compared to the previous close of Rs. 1331.65. The total number of shares traded during the day was 109114 in over 8477 trades.

The stock hit an intraday high of Rs. 1384.95 and intraday low of 1335.25. The net turnover during the day was Rs. 148590062.00.

Source : Equity Bulls

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MahindraandMahindra INE101A01026 FarmEquipment Tractors SalesVolume January2023