Mahindra's Farm Equipment Sector Sells 24,619 Units in India during February 2023

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

Domestic sales in February 2023 were at 24,619 units, as against 18,910 units during February 2022.

Total tractor sales (Domestic + Exports) during February 2023 were at 25,791 units, as against 20,437 units for the same period last year. Exports for the month stood at 1,172 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 24,619 tractors in the domestic market during February 2023, a growth of 30% over last year. Record Rabi crop acreage for wheat and oilseeds, high crop prices and better terms of trade for farmers is leading to positive sentiments in the rural markets. Expected higher Rabi output will improve liquidity in the hands of the farmers, supporting tractor demand. Water reservoir levels continue to remain high. In the exports market, we have sold 1172 tractors."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1273.65 as compared to the previous close of Rs. 1269.80. The total number of shares traded during the day was 59456 in over 4442 trades.

The stock hit an intraday high of Rs. 1305.50 and intraday low of 1269.85. The net turnover during the day was Rs. 76633238.00.

Source : Equity Bulls

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MahindraandMahindra INE101A01026 FarmEquipment Tractors February2023 SalesVolume