01 May, 2021
Faridabad, May 1st, 2021: Escorts Ltd Agri Machinery Segment (EAM) 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%.”
Sales figure are as follows:
At Escorts safety and health of our employees, and the wellness of our business ecosystem is of utmost importance. The Company is taking all measures in line with government advisories, including a vaccination drive to cover all its eligible employees.
About Escorts Limited:
Escorts Ltd (Powertrac Tractor, Farmtrac Tractor and Digitrac Tractor) is one of India's leading engineering conglomerates with over seven 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 its business into 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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