Mahindra's Farm Equipment Sector Sells 20518 Units in India during August 2024

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

Domestic sales in August 2024 were at 20518 units, as against 20647 units during August 2023.

Total tractor sales (Domestic + Exports) during August 2024 were at 21917 units, as against 21676 units for the same period last year. Exports for the month stood at 1399 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 20518 tractors in the domestic market during August. The cumulative monsoon rainfall is normal to above normal in Southern, central, western, and most northern states, while it has been deficient in few eastern and northeastern states. Reservoir levels have improved substantially and Kharif sowing for paddy, pulses, oil seeds and sugarcane has progressed very well and higher than last year. The upcoming festive season, above normal monsoon, bumper Kharif harvest andfavorable terms of trade for farmers are likely to drive growth of tractor industry going forward. In the exports market, we have sold 1399 tractors, a growth of 36% over last year."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 2806.10 as compared to the previous close of Rs. 2757.80. The total number of shares traded during the day was 140331 in over 10389 trades.

The stock hit an intraday high of Rs. 2820.65 and intraday low of 2764.05. The net turnover during the day was Rs. 393336364.00.

Source : Equity Bulls

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MahindraandMahindra INE101A01026 MandM FarmEquipmen Tractors SalesVolume August2024