Escorts domestic tractor sales up by 941 per cent at 6,386 units in April 2021

Despite the ongoing pandemic, the Agri Machinery Segment of Escorts Limited received good traction in April 2021, spurred by speculations of timely monsoons which have spurred up demand.

Escorts Agri Machinery Segment (EAM) in April 2021 sold 6,979 tractors registering a growth of 889.9 per cent as against 705 tractors sold in April 2020.

Domestic tractor sales in April 2021 were at 6,386 tractors registering a growth of 941.8 per cent against 613 tractors in April 2020. The demand in April 2021 was impacted by the Covid-19 related lockdowns throughout the country, although not to the same extent as compared to April last year.

Escorts stated in a filing to the exchanges that the supply chain had minimal impact from local restrictions owing to the second wave of Covid-19 and this enabled the company to build some inventory in anticipation of some pent-up demand as the pandemic situation improves.

Export tractor sales in April 2021 was at 593 tractors against 92 tractors sold in April 2020, registering a growth of 544.6 per cent.

On Friday, the shares of Escorts Limited closed at Rs 1118.65, down by 1.03 per cent or Rs 11.60 per share, against a 1.98 per cent decline in the benchmark index. The 52-week high of the company is recorded at Rs 1,468.40 and the 52-week low is recorded at Rs 667.50 on BSE.