Escorts Agri Machinery sold 6,979 tractors in April 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%.

At Escorts safety and health of our employees, and wellness of our business ecosystem is of utmost importance. The Company is taking all measures in line with government advisories, including vaccination drive to cover all its eligible employees.

Shares of ESCORTS LTD. was last trading in BSE at Rs.1118.65 as compared to the previous close of Rs. 1130.25. The total number of shares traded during the day was 174824 in over 5971 trades.

The stock hit an intraday high of Rs. 1156.7 and intraday low of 1111.9. The net turnover during the day was Rs. 197877421.

Source : Equity Bulls

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