Stock Report

Mahindra's Farm Equipment Sector Sells 21,640 Units in India during December 2022

Posted On : 2023-01-02 14:27:26( TIMEZONE : IST )

Mahindra's Farm Equipment Sector Sells 21,640 Units in India during December 2022

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for December 2022.

Domestic sales in December 2022 were at 21,640 units, as against 16,687 units during December 2021.

Total tractor sales (Domestic + Exports) during December 2022 were at 23,243 units, as against 18,269 units for the same period last year. Exports for the month stood at 1,603 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 21,640 tractors in the domestic market during December 2022, a growth of 30% over last year. Rabi crop sowing has progressed very well and is higher than last year acreage and also higher than the average of last 5 years. Wheat and oil seeds are expected to be bumper harvest. On the back of strong Rabi sowing, good kharif procurement and likely exports of wheat, the sentiments continue to remain upbeat in the farming sector, leading to strong demand for tractors and farm implements. In the exports market, we have sold 1,603 tractors, a growth of 1% over last year."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1249.30 as compared to the previous close of Rs. 1261.80. The total number of shares traded during the day was 33207 in over 1772 trades.

The stock hit an intraday high of Rs. 1263.25 and intraday low of 1245.00. The net turnover during the day was Rs. 41679964.00.

Source : Equity Bulls


MahindraandMahindra INE101A01026 FarmEquipment Tractors SalesVolume December2022