Escorts Agri Machinery sells 10,051 tractors in June 2022; Stock dips ~1%

1 Jul 2022 , 10:06 AM

Escorts Kubota Limited has informed on Friday that its Agri Machinery Segment (EAM) in June 2022 sold 10,051 tractors as against 12,533 tractors sold in June 2021.

As per the filing, Domestic tractor sales in June 2022 were at 9,265 tractors as against 11,956 tractors sold in June 2021. Industry wholesales were impacted during month of June 2022 due to high base of last year.

“With onset of monsoon, and likely record kharif crop production, rural liquidity and farmer sentiments are expected to gradually improve”, the company said.

Export tractor sales in June 2022 was at 786 tractors against 577 tractors sold in June 2021, registering a growth of 36.2%.

At around 10:09 AM, Escorts Kubota was trading at Rs1,430 per share down by Rs12.15 or 0.84% from its previous closing of Rs1,442.15 per share on the BSE.