Escorts Domestic Tractor Sales Hiked by 20% in April 2022, Sold 7,676 Units

Escorts Company, a leader in agricultural equipment manufacturing, has released its April 2022 sales figures. In the sales report, the company has shown a growth of 20% in the domestic market, while in the export market, the company has registered a boost compared to last year.

In this post of TractorJunction, we show Escorts Agri Machinery's sales report for April 2022.

On Sunday, farm equipment maker Escorts Agri Machinery achieved a 20.2% hike in domestic tractor sales. Escorts Company sold 7676 units in April 2022, which is 1290 units more than last year's sales in April. In April 2021, Escorts Company had sold 6383 units in the previous year. Escorts said in a regulatory filing that the total tractor sales during the last month stood at 8325 units which are 19.3% higher as compared to 6979 units in April 2021.

Escorts Agri said that due to the ongoing harvesting in many states and the current global geopolitical environment, farmers are getting better crop prices this time than the Minimum Support Price (MSP). Instead, the Meteorological Department has also predicted a normal monsoon with the possibility of good rains in July. Considering all these factors, if sowing is done on time this year, we expect the company to have good retail sales in the next two months. Though we have hiked the prices of agri machinery in April 2022, inflationary pressure on commodity prices continues to cause concern for the company. 

If we talk about the company's exports, Escorts Agri exported 649 tractors in April 2022, while 593 tractors were shipped in April 2021. In this way, if comparative study of both the years is done, the company has registered an increase in export of tractors. However, if we talk about the agri equipment manufactured by Escorts, the company sold 340 machines in April 2022, which is 151 more than the 189 machines sold in April 2021 last year. In this way, the company's sales have grown by 79.9% year on year.

Escorts said that in April 2022, the construction equipment industry faced continued challenges in retail demand due to cost escalation across sectors. However, it increased compared to last year, when the first half was affected due to the difficulties of COVID-19. In addition, the company said that the government emphasizes growing infrastructure and exports in emerging markets. With this, we expect better sales in this current financial year 2022-23. 
 

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