Escorts reports marginal drop in Tractor sales in October  

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Biznextindia  : Escorts limited Agri Machinery products segment (EAM) has reported marginal 1.1 percent Year-on-Year (YoY) drop in sales at 13,514 tractors as against 13,664 tractors in October 2020.

The company has reported 3.3 percent drop YoY in tractor sales at 12,749 tractors in October 2021 as against 13,180 tractors in October 2020. However, the company has achieved 58 percent growth in exports during the month at 765 tractors as against 484 tractors sold in October 2020.

“ Festival period of Navratri and Dussehra witnessed good footfalls and delayed sowing and harvesting cycle of the current Rabi crop augurs well for festive retails for industry during November too coupled with overall positive rural sentiments on account of good rainfall, expected good yield and crop production, higher crop MSPs and better retail finance availability. Inflation continues unabated and is putting a pressure on our margins” the company said.

 

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