01 Jul, 2021
Faridabad, July 1st, 2021: Escorts Ltd Agri Machinery Segment (EAM) in June 2021 sold 12,533 tractors, our highest ever June sales and registering a growth of 15.5 percent against 10,851 tractors sold in June 2020
Domestic tractor sales in June 2021 was at 11,956 tractors as against 10,623 tractors in June 2020, registering a growth of 12.5 percent. The continued growth in our volumes and that of tractor industry is a testament of resilience of rural and Agri sectors. Despite the challenges posed by the pandemic, the farmers of our country continued to work hard to make sure all of us have food on their plates.
The on-ground situation eased in June as the second wave of pandemic started diluting. Most of the dealerships, except in few pockets, were able to remain open and serve customers, though for limited hours of operation.
Our inventory levels, both with the company and with the channel, continue to be at normal levels. We remain optimistic for the rest of the fiscal year, as timely and expected above-normal monsoon, increase in MSP prices, and record direct procurement by Government is leading to a positive build-up of farmer sentiments. The commercial activity also is expected to gain further momentum in the ensuing months. The enhanced pace of mass vaccinations is further going to help the rural sector.
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जून माह में एस्कॉर्ट्स ने बेचे 12,533 ट्रैक्टर, महामारी के बावजूद 15.5 प्रतिशत की वृद्धि।
Inflation however continues unabated beyond industry expectations. While we are trying to offset a part of this through internal cost control measures, we have announced a significant price hike effective 1st July 2021 on all tractors. This is our third consecutive price hike in the last nine months. Despite this, inflation continues to put pressure on the margins
Export tractor sales in June 2021 was at 577 tractors against 228 tractors sold in June 2020, registering a growth of 153.1 percent.
Sales figure are as follows:
|FY22||FY21||% Change||FY22||FY21||% Change|
About Escorts Limited:
Escorts Ltd(Powertrac, Farmtrac, and Digitrac) 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 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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