Escorts Agri Machinery (EAM) sold 6,114 tractors in February 2022 compared to 11,230 tractors sold in February 2021, a decrease of 45.6% year-on-year.

National tractor sales in February 2022 were 5,686 tractors compared to 10,690 tractors in February 2021. Tractor industry wholesale sales remained subdued in February 2022, due to high base from last year, sharp price increases due to higher commodity price inflation impacting retail sales and above normal inventory levels with the channel.

Going forward, we expect that the overall increase in rabi sowing this year, the good level of water reservoirs, the increase in Union budget allocations to the rural and agricultural sector and the first indicators of a normal monsoon next year will give positive momentum to the tractor industry in the coming year.

Export tractor sales in February 2022 were 428 tractors compared to 540 tractors sold in February 2021.

Shares of Escorts Limited last traded on the BSE at Rs. 1852.10 from the previous close of Rs. 1834.55. The total number of shares traded during the day was 16,534 in over 1,418 trades.

The stock hit an intraday high of Rs. 1857.05 and an intraday low of 1825.00. Net turnover during the day was Rs. 30469408.00.

Source: Stock market bulls

Keywords

Escorts
INE042A01014
Sales volume
Tractors
AgriMachinery
February 2022
Exports