Escorts Agri Machinery, a manufacturer of agricultural equipment, reported a 20.2% increase in national tractor sales to 7,676 units in April 2022. As of April 2021, the company had sold 6,386 units. Escorts said in a regulatory filing that total tractor sales in April 2021 were 8,325 units, up 19.3% from 6,979 units in April 2021.

According to Escorts Agri Machinery, due to the current global geopolitical environment, better realization of crop price over Minimum Support Price (MSP), forecast of normal monsoon with the probability of good rainfall in June and July , and possible timely sowing this year .

“We expect retail sales to be strong over the next couple of months. Although we raised prices in April this year, inflationary pressure on commodity prices remains a major source of concern,” he added. added the company.

In April 2022, 649 tractors were exported, compared to 593 tractors in April 2021.

In the construction equipment segment, the company sold 340 machines in April 2021, compared to 189 in April 2021, representing a year-on-year increase of 79.9%.

According to Escorts, the construction equipment industry experienced continued challenges in retail demand in April 2022 due to escalating costs across all segments, despite growth over last year when the first half was impacted due to challenges related to COVID-19.

“With the government’s focus on infrastructure and export potential in emerging markets, we expect a strong recovery in the current fiscal year 2022-23. However, continued input cost inflation , which leads to higher cost of ownership for customers, remains a major concern.”According to the company.

About Escorts Agri Machinery:

Escorts Agri Machinery first appeared in 1960. Farmtrac, Powertrac and Steeltrac are the brands under which the company manufactures tractors. The first Escort tractors were built in 1961 under the Ursus license. In 1969, a partnership with Ford was formed to produce Ford tractors under license for India.

First published: 03 May 2022, 07:11 IST