Due to the huge base from last year, industry wholesales were hurt in June 2022, according to the company. However, there is still cause for concern regarding the high inflation.
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On Friday, Escorts Kubota Limited announced that its Agri Machinery Segment (EAM) sold 10,051 tractors in June 2022 as opposed to 12,533 tractors in June 2021.
According to the report, domestic tractor sales decreased to 9,265 tractors in June 2022 from 11,956 tractors sold in the same month the previous year. Due to the large base from the previous year, industry wholesales were hurt in June 2022.
The company stated that agricultural liquidity and farmer moods are anticipated to gradually improve with the arrival of the monsoon and projected record Kharif crop production.
Export tractor sales increased by 36.2 percent in June 2022 to 786 tractors from 577 tractors sold in June 2021.
Escorts Kubota was trading at Rs. 1,430 per share at 10:09 AM, down Rs. 12.15 or 0.84 percent from its previous BSE closing price of Rs. 1,442.15 per share.
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