Mahindra's Farm Equipment Sector Sells 35237 Units in India during May 2024

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for May 2024. Domestic sales in May 2024 were at 35237 units, as against 33113 units during May 2023.

Total tractor sales (Domestic + Exports) during May 2024 were at 37109 units, as against 34126 units for the same period last year. Exports for the month stood at 1872 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said "We have sold 35237 tractors in the domestic market during May'24, a growth of 6% over last year. Coupled with timely arrival of southwest monsoon in Kerala and northeast states and forecast of an above normal monsoon has improved the on-ground sentiments of the farmers. Land preparation activities for Kharif crops are expected to begin on time, which is likely to boost tractor demand in coming months. In the exports market, on the back of OJA exports to USA, we have sold 1872 tractors, a growth of 85% over last year."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 2506.45 as compared to the previous close of Rs. 2494.70. The total number of shares traded during the day was 155575 in over 14011 trades.

The stock hit an intraday high of Rs. 2568.50 and intraday low of 2495.70. The net turnover during the day was Rs. 394176558.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 SalesVolume May2024 FarmEquipmentSector Tractors