Mahindra's Farm Equipment Sector Sells 31746 Tractor Units in India during November 2024

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for November 2024.

Domestic sales in November 2024 were at 31746 units, as against 31069 units during November 2023.

Total tractor sales (Domestic + Exports) during November 2024 were at 33378 units, as against 32074 units for the same period last year. Exports for the month stood at 1632 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said "We have sold 31746 tractors in the domestic market during November 2024, a growth of 2% over last year. With the Kharif harvest season getting completed, farmers are progressing with Rabi sowing. The marginal decline in the industry is due to shift in festive season of Diwali and Dhanteras as compared to the previous year. With very good reservoir levels and higher MSP for key Rabi crops, farmers sentiments are positive and cash flows healthy. Good progress in Rabi sowing and a good Rabi crop is expected to further boost demand for tractors in coming months. In the exports market, we have sold 1632 tractors, a growth of 62% over last year."

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 2968.95 as compared to the previous close of Rs. 2899.85. The total number of shares traded during the day was 129840 in over 8877 trades.

The stock hit an intraday high of Rs. 2990.00 and intraday low of 2905.15. The net turnover during the day was Rs. 384378209.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 FarmEquipment Tractors SalesVolume November2024