Mahindra's Farm Equipment Sector Sells 43201 Units in India during September 2024

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

Domestic sales in September 2024 were at 43201 units, as against 42034 units during September 2023.

Total tractor sales (Domestic + Exports) during September 2024 were at 44256 units, as against 43210 units for the same period last year. Exports for the month stood at 1055 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said "We have sold 43201 tractors in the domestic market during September, a growth of 3% over last year. Monsoon rainfall has seen an increase of 7.5% over LPA and this has helped increase in Kharif sowing of all crops except cotton. Reservoir levels have recovered very well and are now at 13% higher than LPA, which augurs very well for a bumper Rabi crop. On the back of good kharif crop and likely strong Rabi crop, rural sentiments are positive. With positive terms of trade for farmers and upcoming festivals, we expect robust demand for tractors going forward. In the exports market, we have sold 1055 tractors."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 3166.40 as compared to the previous close of Rs. 3096.20. The total number of shares traded during the day was 101510 in over 7761 trades.

The stock hit an intraday high of Rs. 3184.00 and intraday low of 3096.25. The net turnover during the day was Rs. 319699765.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 FarmEquipment Tractors SalesVolume September2024