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Escorts logs 30% yoy drop in tractors sales to 7,116 units in Nov 2021 as delayed harvest of Kharif crops impacts retail demand

Domestic tractor sales in November 2021 was at 6,492 tractors as against 9,662 tractors in November 2020.

December 01, 2021 1:14 IST | India Infoline News Service
Escorts Tractor
Escorts Agri Machinery (EAM) sold a total of 7,116 tractors in November 2021, against 10,165 tractors sold in November 2020. That said, Escorts recorded a drop of 30% yoy in tractors sales during November this year.

Domestic tractor sales in November 2021 was at 6,492 tractors as against 9,662 tractors in November 2020.

In its regulatory filing, Escorts said that "delayed harvest of Kharif crops owing to late monsoon rains this year affected the rural cash flows and hence the retail demand."

"This we believe is a temporary phenomenon and cash flows should start improving soon as Kharif harvest gets fully monetized. Industry wholesale in November was further impacted by post-season channel destocking," Escorts added.

In November 2021, exports were at 624 tractors against 503 tractors sold in November 2020, registering a growth of 24.1%.

Going forward, Escorts said, "all macroeconomic factors remain in favour of the tractor industry. However high inflation remains a worry impacting profitability."

At around 1.10 pm, Escorts was trading at Rs1856 per piece up by Rs10.35 or 0.56% on Sensex. The stock was near the day's high of Rs1863 per piece on the same index. 

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