Escorts Agri Machinery in April 2021 sold 6979 tractors registering a growth of 889.9 percent as against 705 tractors sold in April 2020.Domestic tractor sales in April 2021 were at 6386 tractors registering a growth of 941.8 percent 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” said Escorts in a regulatory filing.
However, the company is hopeful of demand recovery in the medium term due to improved macroeconomic factors.
“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” the company said.
Export tractor sales in April 2021 was at 593 tractors against 92 tractors sold in April 2020 registering a growth of 544.6%. ECE in April 2021 sold 189 machines registering a growth of 2600 percent against 7 machines sold in April 2020.
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