Mahindra's Farm Equipment Sector sells 39,405 units in India during April 2022 registering growth of 51%

2 May 2022 , 10:50 AM

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, on Monday has announced its tractor sales numbers for April 2022.

Domestic sales in April 2022 were at 39405 units, as against 26130 units during April 2021.

Total tractor sales (Domestic + Exports) during April 2022 were at 40939 units, as against 27523 units for the same period last year.

Exports for the month stood at 1534 units.

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 39405 tractors in the domestic market during April 2022, at a growth of 51% over last year. Our business witnessed strong growth with demand drivers staying on course.

Rabi harvesting has progressed well across markets. Amidst the ongoing global situation and high exports of wheat from India, demand for Indian wheat crop has been very high and this has led to farmers getting higher prices in the open market for their produce than MSP.

Furthermore, oilseeds are fetching higher market price in the domestic market. Both IMD and Skymet have forecasted a normal monsoon for this year, and this bodes very well for the upcoming Kharif season and will support continued growth for the tractor industry. In the exports market, we have sold 1534 tractors, at a growth of 10% over last year.”

At around 10:54 AM, Mahindra & Mahindra was trading at Rs921.90 apiece down by Rs0.1 or 0.01% on the BSE.