Escorts Agri Machinery sold 5,707 tractors in January 2022, Down 36.7% yoy

01 Feb, 2022

Faridabad, February 1st, 2022: Escorts Agri Machinery (EAM)(Farmtrac tractor, Powertrac tractor and Digitrac tractor) in January 2022 sold 5,707 tractors as against 9,021 tractors sold in January 2021, a drop of 36.7 percent year-on-year.

Domestic tractor sales in January 2022 was at 5,103 tractors as against 8,510 tractors in January 2021. Industry wholesales continues to be impacted in January 2022, due to unseasonal rainfall in certain part of country, high base of last year and inflationary impact on short term demand leading to higher level of channel inventory in certain geographies. Going forward with improved liquidity in hand of farmers, overall high rabi sowing and good water level reservoirs, we expect same will help boost demand recovery in coming months

Export tractor sales in January 2022 was at 604 tractors against 511 tractors sold in January 2021, registering a growth of 18.2 percent.

Sales figure are as follows:

FY- Financial Year from April to March                                                                               YTD – Year to date
 

Please note that, due to COVID-19 impact last year and partially this year figures are not strictly comparable on year-on-year basis.

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 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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