According to the record given by the Escorts Tractor company, in March 2021 the company recorded the highest tractor sales. Total 12,337 tractors were sold by the company. It is the highest march tractor sales ever recorded in the past few years. The growth has been registered at 126.6% against 5,444 tractors sold in March 2020.
The company said that there is an increment of tractor sales by 9.86% from 11,230 units sold in February 2021.
In March 2021, domestic tractor sales were sold at 11,730, and recorded a growth of 124.4% from 5,228 tractors sold in March 2020.
The growth has been recorded due to strong led by higher Rabi output, affordable crop prices, and due to the forecast of the 2021 monsoon season. The company said that, “The rising inflation however continues to be a worry.”
Escorts company shares increased by 0.34% at Rs 1293.25 on BSE.
Talking about the export tractor sales, In March 2020, 216 tractors were sold but in March 2021 it hit at 181% year on year while recording 607 tractors in March 2021. For the first time the company has crossed 100,000 units of tractor sales for the Fiscal Year of 2020-21.
Escorts Ltd is one of the famous engineering conglomerates with the presence of several sectors like agricultural and machinery, Equipment producing on construction and material handling and also a versatile company in producing railway equipment. The company is always producing the major agriculture implements, tractors with an aim of providing benefits to the farmers.
“The company’s consolidated net profit jumped by 85.1% to Rs 286.71 crore on a 23.8% rise in revenue from operations to Rs 2,042.23 crore in Q3 FY21 over Q3 FY20” stated by the company.”