Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for May 2022.
Domestic sales in May 2022 were at 34153 units, as against 22843 units during May 2021.
Total tractor sales (Domestic + Exports) during May 2022 were at 35722 units, as against 24184 units for the same period last year.
Exports for the month stood at 1569 units.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 34153 tractors in the domestic market during May '22, a growth of 50% over last year. This is on the back of 51% growth achieved in the month of April '22. With the timely arrival of the south-west monsoon and forecast of a normal monsoon, kharif crop is expected to deliver record production. Food prices continue to be high, ensuring better remuneration for farmers for their produce, creating a positive sentiment and higher demand for tractors and agri implements. In the exports market, we have sold 1569 tractors, a growth of 17% over last year."
Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1047.50 as compared to the previous close of Rs. 1033.90. The total number of shares traded during the day was 254924 in over 8129 trades.
The stock hit an intraday high of Rs. 1056.60 and intraday low of 1014.70. The net turnover during the day was Rs. 263728681.00.