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Escorts Agri Machinery Segment sells 6979 tractors in April

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Escorts Agri Machinery Segment in April 2021 sold 6,979 tractors registering a growth of 889.9 percent as against 705 tractors sold in April 2020.

Domestic tractor sales in April 2021 were at 6,386 tractors registering a growth of 941.8 percent against 613 tractors in April 2020. The demand in April last year was drastically impacted by Covid-19 national lockdown; so was it in April 2021 although not to the same extent. This time around supply chain had minimal impact from local restrictions owing to the second wave of Covid-19.

This enabled the Company to build some inventory in anticipation of some pent-up demand as the pandemic situation improves. The medium-term macroeconomic factors remain positive on account of record rabi harvest, sustained crop prices, and good prediction of monsoons this year. Inflation continues unabated and remains a worry.

Export tractor sales in April 2021 was at 593 tractors against 92 tractors sold in April 2020, registering a growth of 544.6%.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, May 01 2021. 11:16 IST
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