M&M tractor volume down 8% yoy in February 2019

Domestic tractor volume was down 7% yoy; exports were down 28% yoy.

Mar 01, 2019 09:03 IST India Infoline News Service

Mahindra & Mahindra Limited’s (M&M) Farm Equipment Sector (FES) sold 18,978 tractors in February 2019, down 8% yoy (down 15% mom). The total volume sold was lower than BloombergQuint's poll estimate of 20,300 tractors.

M&M sold 18,105 tractors in the domestic market, down 7% yoy (down 14% mom). It exported 873 tractors, down 28% yoy (down 31% mom).

The volume growth rate for M&M tractors (up 1% yoy) was lower compared to peer Escorts which reported 12% yoy volume growth in February 2019.

Mahindra & Mahindra Ltd is currently trading at Rs649 up by Rs2.45 or 0.38% from its previous closing of Rs646.55 on the BSE.

The scrip opened at Rs651.70 and has touched a high and low of Rs651.80 and Rs642 respectively.

So far 41,80,367 (NSE+BSE) shares were traded on the counter.

The current market cap of the company is Rs80,378.61cr.

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