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Escorts Agri Machinery Volumes grew by 80.1 percent in August 2020

Escorts Agri Machinery Volumes grew by 80.1 percent in August 2020

    Escorts Agri Machinery Volumes grew by 80.1 percent in August 2020

Escorts Agri Machinery Volumes grew by 80.1 percent in August 2020

01 Sep, 2020

Faridabad, September 1 st , 2020: Escorts Ltd Agri Machinery Segment (EAM) in August 2020 sold 7,268 tractors, our highest ever August sales and registering a growth of 80.1 percent against 4,035 tractors sold in August 2019.

Domestic tractor sales in August 2020 was at 6,750 tractors registering a growth of 79.4% against 3,763 tractors in August 2019. The market sentiment continues to be highly positive with good monsoons, better Kharif sowing, crop prices holding up well, and good supply of retail finance. We remain optimistic for the coming festive months. The supply side situation improved significantly as compared to last month. We are currently operating close to peak capacity now. In August 2020 we could build some inventory both at dealer and depots, which since last few months was at very low levels.

Export tractor sales in August 2020 was at 518 tractors against 272 tractors sold in August 2019, registering a growth of 90.4%.”.

 

Sales figure are as follows:

Particular

August

YTD (5M)

FY21

FY20

% Change

FY21

FY20

%Change

Domestic

6,750

3,763

79.4%

29,393

28,390

3.5%

Export

518

272

90.4%

1,347

1,556

-13.4%

Total

7,268

4,035

80.1%

30,740

29,946

2.7%

 

About Escorts Limited:

Escorts Ltd is one of India's leading engineering conglomerates with over six decades of experience. It has helped accelerate India’s socio-economic development through its presence across the high growth sectors of Agri-machinery, construction & material handling equipment and railway equipment. The company has diversified business in to three different segments. Escorts Agri Machinery (EAM), Escorts Construction Equipment (ECE) & Railway Equipment Division (RED).

The company is committed to excellence in engineering, innovation in products, development of market-relevant technologies and the highest of cost efficiencies to create value for its customers and shareholders.

 

 

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