Escorts Kubota tractor volume jumps 7.2% in October 2022; Stock down 2%

1 Nov 2022 , 10:30 AM

Escorts Kubota Limited Agri Machinery Segment in October 2022 sold 14,492 tractors which is the ever highest monthly sales registering a growth of 7.2% as against 13,514 tractors sold in October 2021.

As per the regulatory filing, Domestic tractor sales in October 2022 was at 13,843 tractors registering a growth of 8.6 percent as against 12,749 tractors sold in October 2021. Festive demand was good led by above normal monsoon and higher water reservoirs level.

For the coming Rabi season all macro-economic factors remain favourable for the industry. However, overhang of unabsorbed commodities inflation remains a concern.

Export tractor sales in October 2022 was at 649 tractors as against 765 tractors sold in October 2021, the company said.

At around 10:33 AM, Escorts Kubota Ltd is currently trading at Rs1,996.50 per share down by Rs43.3 or 2.12% from its previous closing of Rs2,039.80 per share on the BSE.

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