Escorts Agri Machinery sold 5,707 tractors in January 2022, down 36.7% YoY

Escorts Agri Machinery (EAM) 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.

Shares of Escorts Limited was last trading in BSE at Rs. 1847.20 as compared to the previous close of Rs. 1836.70. The total number of shares traded during the day was 12426 in over 1671 trades.

The stock hit an intraday high of Rs. 1856.00 and intraday low of 1833.30. The net turnover during the day was Rs. 22958354.00.

Source : Equity Bulls

Keywords

Escorts INE042A01014 AgriMachinery SalesVOlume January2022 Tractors