Escort Tractor Sold 6,114 Units in Feb’22 - 45% YoY Decline Recorded

Escort Total Tractor Sales Report 

Escorts Agri Machinery, the country's leading tractor manufacturer, did not get promising results from tractor sales in February 2022. As per the Escorts Sales Report February 2022, Escorts tractor sales have registered a decline of 45 per cent on a year-on-year basis. Escorts sold 6114 units in the domestic and export market in February 2022 as against 11230 units in February 2021. Thus, there has been a decrease of 45.6 Percent in the company's total sales.

Escorts Domestic Market Sales 

The sales of Escorts tractors have come down in the domestic market. The company sold 5686 units in the domestic market in February 2022 against 10,690 units in February 2021. Thus, there has been a decrease of 46.8 Percent on a year-on-year basis. The company has mentioned several reasons behind the drop in sales. According to Escorts, the tractor industry's wholesale sales continued to decline in February 2022. Wholesale sales were at their peak in February 2021 last year. Moreover, higher inflation in commodity prices has led to an increase in retail prices.

Escort Tractor Export 

Escorts tractor exports also registered a decline in February 2022. The company has sold 428 tractors in the export market in February 2022, as against 540 tractors sold in February 2021. Thus, on a year-on-year basis, Escorts tractor exports have registered a decline of 20.7 Percent. However, in January 2022, the company reported year-on-year growth of 18.2 Percent in the export market.

Escorts expect better sales in the future despite the domestic and export market's downfall during February 2022. Escorts said it expects bumper production of Rabi crop this year, good reservoir levels, increase in Union budget allocation for rural and agriculture sector, and early signs of normal monsoon will provide positive momentum for tractor industry in future. As a result, escorts' consolidated net profit declined by 32.36 Percent to Rs 193.71 crore due to a 2.83 Percent decline in revenue from operations to Rs 1,984.28 crore in Q3 FY22 over Q3 FY21.

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