Escorts led Agri Machinery Segment (EAM) has sold 11,230 tractors in February 2021, which is the highest ever February sales of the company. The latest monthly sales have increased by 30.6% from 8,601 tractors sold in the same month a year ago.
In February 2021, Escorts domestic tractor sales stood at 10,690 tractors registering a growth of 32.8% against 8,049 tractors sold in February 2020. Meanwhile, export tractor sales for the month under review came in at 540 tractors against 552 tractors sold in February 2020.
In its sales statement, Escorts said, "The tractor demand is expected to continue to be strong on the back of positive macroeconomic factors and strong rural cash flows. The supply-side situation is normal, but rising inflation continues to be a worry."
So far in the financial year FY21 (April 2020-February 2021), Escorts sales stand at 94,404 tractors rising by 17.2% compared to sales of 80,574 units in the corresponding period of the previous year.
At around 10.58 am, Escorts trade at Rs1293.40 per piece down by Rs17.20 or 1.31% on Sensex.