The Escorts Agri Machinery segment sold 6,979 tractors in April 2021, growing 889.9 percent from 705 tractors sold in April 2020.
Domestic tractor sales stood at 6,386 tractors in April 2021, growing 941.8 percent from 613 tractors in April 2020. Demand last April was dramatically impacted by the national Covid-19 lockdown. so it was in April 2021, if not to the same extent. This time, due to the second wave of Covid-19, the supply chain had minimal impact from local restrictions.
This allowed the company to build up some inventory in anticipation of pent-up demand if the pandemic situation improves. The medium-term macroeconomic factors remain positive due to the record harvest at Rabi, the persistent harvest prices and the good forecast of the monsoons this year. Inflation continues unabated and remains a matter of concern.
Tractor exports stood at 593 tractors in April 2021 compared to 92 tractors sold in April 2020, representing a growth of 544.6%.
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(This story was not edited by Business Standard staff and is automatically generated from a syndicated feed.)
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