Mahindra's Farm Equipment Sector Sells 33,622 Units in India during March 2023

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for March 2023. Domestic sales in March 2023 were at 33,622 units, as against 28,112 units during March 2022.

Total tractor sales (Domestic + Exports) during March 2023 were at 35,014 units, as against 29,763 units for the same period last year. Exports for the month stood at 1,392 units.

The company clocked its highest ever annual sale of 4,07,545 Units (Domestic + Exports) in FY'23.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 33,622 tractors in the domestic market during March 2023, a growth of 20% over last year. Increase in crop output, mandi prices staying firm, Government support for increase in MSP for major crops and increase in wages under MGNREGA scheme will help improve the financial security of rural households and boost tractor demand in the coming months. In the exports market, we have sold 1,392 tractors."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1158.55 as compared to the previous close of Rs. 1144.75. The total number of shares traded during the day was 78462 in over 6525 trades.

The stock hit an intraday high of Rs. 1162.60 and intraday low of 1145.60. The net turnover during the day was Rs. 90512677.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 FarmEquipmentSector Tractors Domestic Exports SalesVolume March2023