Escorts Agri Machinery (EAM) in November 2021 sold 7,116 tractors as against 10,165 tractors sold in November 2020, a drop of 30.0 percent year-on-year.
Domestic tractor sales in November 2021 was at 6,492 tractors as against 9,662 tractors in November 2020. Delayed harvest of Kharif crops owing to late monsoon rains this year affected the rural cash flows and hence the retail demand. This we believe is a temporary phenomenon and cash flows should start improving soon as Kharif harvest gets fully monetized. Industry wholesale in November was further impacted by post-season channel destocking. Going forward all macroeconomic factors remain in favour of the tractor industry. However high inflation remains a worry impacting profitability.
Export tractor sales in November 2021 was at 624 tractors against 503 tractors sold in November 2020, registering a growth of 24.1 percent.
Shares of Escorts Limited was last trading in BSE at Rs. 1845.65 as compared to the previous close of Rs. 1858.95. The total number of shares traded during the day was 55611 in over 3486 trades.
The stock hit an intraday high of Rs. 1880.00 and intraday low of 1837.55. The net turnover during the day was Rs. 103528449.00.