Escorts Agri Machinery (EAM) sold 7,116 tractors in November 2021 compared to 10,165 tractors sold in November 2020, a decrease of 30.0% over one year.

National tractor sales in November 2021 were 6,492 tractors compared to 9,662 tractors in November 2020. The delay in harvesting Kharif crops due to late monsoon rains this year has affected rural cash flow and hence the detail request. We believe this is a temporary phenomenon and cash flow should start improving as soon as Kharif’s harvest is fully monetized. In November, the industry’s wholesale trade was also affected by the destocking of the post-season channels. Going forward, all macroeconomic factors remain in favor of the tractor industry. However, high inflation remains a concern affecting profitability.

Tractor export sales in November 2021 were 624 tractors compared to 503 tractors sold in November 2020, registering a growth of 24.1%.

Shares of Escorts Limited were last trading in the BSE at Rs. 1,845.65 from the previous close of Rs. 1,858.95. The total number of shares traded during the day was 55,611 in more than 3,486 trades.

The share hit an intraday high of Rs. 1,880.00 and an intraday low of 1,837.55. The net turnover during the day was Rs. 103528449.00.

Source: Equity Bulls

Keywords

EscortsLimited
INE042A01014
ESCORTS
Commercial vehicles
AgriMachinery
Tractors
Sales volume
November 2021
Domestic sales
Exports