The Escorts Construction Equipment Segment (ECE) sold 189 machines in April 2021 and recorded a growth of 2,600 percent compared to 7 machines sold in April 2020.
The industry has been hard hit due to the massive spike in coronavirus infections across the country.
Due to the shortage of certain critical items, including industrial oxygen, production was also impacted during the month. However, with an accelerated vaccination program and other government measures, the situation is likely to improve in the near future.
In light of the government’s push to monetize through divestments and the large projects under the National Infrastructure Pipeline (NIP), the company expects the industry to recover more strongly in the future.
April 2020 sales were impacted by the Covid-19 lockdown and are not strictly comparable
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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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