Escorts stated that domestic tractor sales in April 2021 were at 6,386 tractors registering a growth of 941.8% against 613 tractors in April 2020.
Escorts-led 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 the same month a year ago.
In its regulatory filing, Escorts stated that 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 last year was drastically impacted by Covid-19 national lockdown; so was it in April 2021 although not to the same extent.
This time around supply chain had minimal impact from local restrictions owing to the second wave of Covid-19. This enabled the Company to build some inventory in anticipation of some pent-up demand as the pandemic situation improves.
On the domestic market, Escorts said that the medium-term macroeconomic factors remain positive on account of record rabi harvest, sustained crop prices, and good prediction of monsoons this year. Inflation continues unabated and remains a worry.
Moreover, export tractor sales in April 2021 was at 593 tractors against 92 tractors sold in April 2020, registering a growth of 544.6%.”