Mahindra's Farm Equipment Sector Sells 20121 Units in India during February 2024

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for February 2024.

Domestic sales in February 2024 were at 20121 units, as against 24619 units during February 2023.

Total tractor sales (Domestic + Exports) during February 2024 were at 21672 units, as against 25791 units for the same period last year. Exports for the month stood at 1551 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said "We have sold 20121 tractors in the domestic market during February 2024. Southern and western states continue to face agri stress due to erratic and deficient monsoon. However, Rabi crop outlook is very good, with wheat crop likely to be a bumper crop. Harvesting has started in few states with the government supporting early procurement of wheat crop. Continued government support through various rural schemes and enhanced institutional credit will further help boost tractor demand going forward. In the export market, we have sold 1551 tractors, a growth of 32% over last year."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1933.80 as compared to the previous close of Rs. 1901.00. The total number of shares traded during the day was 54781 in over 5348 trades.

The stock hit an intraday high of Rs. 1950.05 and intraday low of 1892.85. The net turnover during the day was Rs. 106018493.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 FarmEquipmentSector SalesVolume February2024 Tractors