Mahindra's Farm Equipment Sector Sells 20,647 Units in India during August 2023

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

Domestic sales in August 2023 were at 20,647 units, as against 20,138 units during August 2022.

Total tractor sales (Domestic + Exports) during August 2023 were at 21,676 units, as against 21,520 units for the same period last year. Exports for the month stood at 1,029 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 20,647 tractors in the domestic market during August, a growth of 3% over last year. Despite a 9% monsoon deficit at end of August, Kharif sowing is largely on track and has shown an improvement over last year for all key crops except pulses. Terms of trade continue to be favourable for the farmer, with inputs inflation cooling off and crop prices holding firm. With the upcoming festive season, we expect tractor demand to grow in the coming months. In the exports market, we have sold 1,029 tractors".

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1576.10 as compared to the previous close of Rs. 1583.40. The total number of shares traded during the day was 51858 in over 4102 trades.

The stock hit an intraday high of Rs. 1589.75 and intraday low of 1567.10. The net turnover during the day was Rs. 81975726.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 FarmEquipmentSector SalesVolume August2023 Tractors