01 Jun, 2021
Faridabad, June 1st, 2021: Escorts Ltd Agri Machinery Segment (EAM) in May 2021 sold 6,423 against 6,594 tractors sold in May 2020.
Domestic tractor sales in May 2021 were at 6,158 tractors as against 6,454 tractors in May 2020. Our country is going through some tough times and a slowdown in demand is seen due to the impact of COVID-19 in the rural parts impairing the movement of customers and smooth operations of our dealerships. The ground situation has somewhat eased in the last few days of the month, and we expect to return to normalcy soon. In the medium term, we see rural sentiment to be strong, on account of all positive macroeconomic factors viz. prediction of a good monsoon, high crop production, and better support by the Government on crop prices. Inflation continues unabated and remains a worry.
Export tractor sales in May 2021 was at 265 tractors against 140 tractors sold in May 2020, registering a growth of 89.3%.”
Sales figure are as follows:
|FY22||FY21||% Change||FY22||FY21||% Change|
The farmers of our country have shown utmost courage and have worked hard during the pandemic ensuring all of us have food on our plates. It is our moral duty to reciprocate to the farming community with actions supporting their well-being. Under a program titled ‘Escorts Covid Kavach’, we have announced several Covid-19 relief measures for our customers, including insurance coverage for hospitalization and home treatment expenses. We hope our collective efforts will help our country overcome this crisis soon.
About Escorts Limited:-
Escorts Ltd 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 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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