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Escorts Agri Machinery Volumes grew by 9.2 percent in September 2020

Escorts Agri Machinery Volumes grew by 9.2 percent in September 2020

Faridabad, October 1st, 2020: Escorts Ltd Agri Machinery Segment (EAM) in September 2020 sold 11,851 tractors, our highest ever September sales and registering a growth of 9.2 percent against 10,855 tractors sold in September 2019.

Domestic tractor sales in September was at 11,453 tractors registering a growth of 8.9% against 10,521 tractors in September 2019. The rural demand continues to remain positive led by lower base of last year, pent-up demand from Covid-19 related lockdowns, and fundamentally positive macroeconomic factors. Timely and widespread monsoon, record Rabi crop production, early Kharif sowing, and good availability of retail finance have helped drive positive farmer sentiment. While currently operating close to our peak capacity, we are trying to further ramp up production and supply to meet the excess demand. We remain optimistic for the coming festive season.

Export tractor sales in September 2020 was at 398 tractors against 334 tractors exported in September 2019, registering a growth of 19.2%.

Sales figure are as follows:

Particulars

September

Q2(July-September)

YTD (6M)

FY21

FY20

%Change

FY21

FY20

%Change

FY21

FY20

%Change

Domestic

11453

10521

8.9%

23156

18789

23.2%

40846

38911

5.0%

Export

398

334

19.2%

1285

961

33.7%

1745

1890

-7.7%

Total

11851

10855

9.2%

24441

19750

23.8%

42591

40801

4.4%

 

About Escorts Limited:

Escorts Ltd is one of India's leading engineering conglomerates with over six decades of experience. It has helped accelerate India’s socio-economic development through its presence across the high growth sectors of Agri-machinery, construction & material handling equipment and railway equipment. The company has diversified business in to three different segments. Escorts Agri Machinery (EAM), Escorts Construction Equipment (ECE) & Railway Equipment Division (RED).

The company is committed to excellence in engineering, innovation in products, development of market-relevant technologies and the highest of cost efficiencies to create value for its customers and shareholders

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