Escorts studies 30 computer dip in November tractor gross sales at 7,116 items

Farm equipment and development tools main Ltd on Wednesday reported a 30 per cent decline in complete tractor gross sales at 7,116 items in November 2021. The corporate had bought 10,165 items in the identical month final 12 months, Escorts mentioned in a regulatory submitting.

Home tractor gross sales had been down 32.8 per cent at 6,492 items final month, as in comparison with 9,662 items in November 2020, it added.

Nevertheless, exports had been up 24.1 per cent at 624 items in November, as in opposition to 503 items within the year-ago month, the corporate mentioned.

“Delayed harvest of Kharif crops owing to late monsoon rains this 12 months affected the agricultural money flows and therefore the retail demand. This we consider is a brief phenomenon and money flows ought to begin enhancing quickly as Kharif harvest will get totally monetised,” Escorts mentioned.

Business wholesale in November was additional impacted by post-season channel destocking, it added.

On the outlook, the corporate mentioned, “going ahead all macroeconomic components stay in favour of the tractor business. Nevertheless, excessive inflation stays a fear impacting profitability.”