The Escorts Agri Machinery segment (EAM) sold 11,230 tractors in February 2021, the highest turnover ever in February, and grew 30.6% from February 2020.
As a result, the company’s tractor sales increased 24.5% from 9,021 units sold in January 2021.
Domestic tractor sales stood at 10,690 tractors in February 2021, growing 32.8% from 8,049 tractors in February 2020. Demand for tractors is expected to remain strong due to positive macroeconomic factors and strong rural cash flows. The supply-side situation is normal, but rising inflation remains a concern.
Export tractor sales were 540 tractors in February 2021 versus 552 tractors sold in February 2020, down 2.2% year over year.
Escorts is a mechanical engineering conglomerate with industries such as agricultural machinery, construction and material handling equipment and railway equipment.
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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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