Escorts Agri Machinery sales up 31% in May ; Normal Monsoon to boost demand, says company

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Biznextindia : Escorts Ltd Agri Machinery Segment (EAM) has reported 31.1 percent growth in sales in May 2022 at 8421 tractors as against 6,423 tractors sold in May 2021. Domestic tractor sales during the month were at 7,667 tractors registering a growth of 24.5 percent against 6,158 tractors sold in May 2021. Export tractor sales during the month was at 754 tractors against 265 tractors sold in May 2021, registering a growth of 184.5%.

“ We see rural sentiment gradually improving inspite of low crop yields due to extreme heat conditions this harvest season, on account of better crop price realization and forecast of normal rainfall and possible timely sowing this year. With recent Government actions, Inflation may stabilise in near term and operating leverage may further possibly help in partially diluting the impact on margins in coming quarter” the company said.

Escorts Construction Equipment sales up 96.8% in May

Escorts Ltd. Construction Equipment Segment (ECE) in May 2022 sold 305 machines registering a growth of 96.8 percent against 155 machines sold in May 2021. In May 2022, growth trend continued in Construction Equipment industry due to low base of last year despite challenges on retail demand due to input cost escalation. With Government thrust on infrastructure we expect good recovery in the later part of current fiscal year 2022-23. But steep rise in input costs leading to higher owning cost for customers remains a key cause of concern.

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