Escorts Construction Equipment Segment (ECE) in April 2021 sold 189 machines registering a growth of 2600 percent against 7 machines sold in April 2020.
The Industry was majorly impacted due to the massive surge in coronavirus infection all across the country.
Due to the shortage of certain critical items, including industrial oxygen, the production was also adversely affected during the month. The situation is, however, likely to improve with accelerated vaccination program and other measures being adopted by the Government in the near term.
Given the Government thrust on monetization through disinvestment and the huge projects under National Infrastructure Pipeline (NIP), the company expects the industry to show stronger recovery going forward.
April 2020 sales was adversely affected by the Covid-19 lockdown and are not strictly comparable
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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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