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M&M sells 27,523 tractors in April 2021

Capital Market 

Mahindra & Mahindra's Farm Equipment Sector (FES) today announced its tractor sales numbers for April 2021.

Domestic sales in April 2021 were at 26130 units, as against 4716 units during April 2020.

Total tractor sales (Domestic + Exports) during April 2021 were at 27523 units, as against 4772 units for the same period last year.

Exports for the month stood at 1393 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, We have sold 26130 tractors in the domestic market during April 2021 with a growth of 454% over last year. High growth witnessed in April 2021 is due to low base due to nationwide lockdowns in April last year. There have been disruptions in supply chain due to localised lock downs and availability of oxygen along with dealerships in few states getting closed impacting demand momentum.

All agri related fundamentals continue to remain strong, with bumper rabi crop harvest and forecast of a normal monsoon. We expect that tractor demand will bounce back as farmers start preparing their land for Kharif crops in the ensuing weeks. We continue to monitor evolving Covid situation across the states with key focus on safety of our people and partners. In the exports markets, we have sold 1393 tractors, a growth of 2388% over last year and have a strong order book.

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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. 15:58 IST
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