Mahindra Farm Equipment Sector, part of Mahindra Group has announced the tractor sales number for November 2021 month.<\/p>\n\n\n\n
The domestic sales in November 2021 were at 26,094 units, a decline of 17% YoY while Exports stood at 1,587 units (up 43% YoY) in November 2021.<\/p>\n\n\n\n
On the other hand, the company\u2019s total tractor sale was 27,681 Units a dip of 15% including domestic and exports while 32,726 units of tractors were sold in the last year of the same month.<\/p>\n\n\n\n
On the performance of tractor sales growth, Hemant Sikka, President- stated that,<\/p>\n\n\n\n
Due to incessant rains in some states of India in the last year leads to De-Growth. On the major growth of Rabi sowing and high reservoir level, rural sentiments continue to remain positive. Escalation in procurement for Kharif crop will bring steady cash flows, which is expected to boost tractor demand going forward.\u201d<\/p>\n\n\n\n
\u201cM&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology, and financial services in India. It is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate.\u201d<\/p>\n\n\n\n
On a consolidated basis, the M&M Group’s net profit before exceptional items rose 43% year-on-year to Rs 1,975 crore in Q2 September 2021. The Group’s net profit after adjusting for exceptional items surged 214% YoY to Rs 1,929 crore in Q2 September 2021. Revenue rose 12% to Rs 21,470 crore during the period under review.<\/p>\n\n\n\n