Escorts Kubota Limited has reported that in November 2022, its Agri Machinery Segment sold 7,960 tractors, an increase of 11.9% from the 7,116 tractors sold in November 2021.
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According to the press statement, domestic tractor sales in November 2022 totaled 7,359 machines, up 13.4 percent from the 6,492 tractors sold in the same month the previous year. Demand has remained steady since the holidays.
Rural sentiments are still positive because of better Rabi sowing, which was helped by this year’s good monsoon and higher water levels in reservoirs, according to the company. However, commodity price softening is not occurring as quickly as desired, causing input costs to be higher than anticipated.
It also added that export tractor sales in November 2022 totaled 601 tractors, down from 624 tractors sold in November 2021.
Escorts Kubota Ltd. is currently trading at Rs 2,331.45 per share at around 11:07 AM, up Rs 45.15 or 1.97% from its previous closing price of Rs 2,286.30 per share on the BSE.
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