Mahindra’s Farm Equipment Sector Sells 49,336 Units In India During October 2023

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, on Wednesday announced its tractor sales numbers for October 2023, the company announced through an exchange filing.

Domestic sales in October 2023 were at 49,336 units, as against 50,539 units during October 2022.

Total tractor sales (Domestic + Exports) during October 2023 were at 50,460 units, as against 51,994 units for the same period last year. Exports for the month stood at 1,124 units.

Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said “We have sold 49,336 tractors in the domestic market during October 2023. Higher aggregate kharif production, higher MSP for key Rabi crops and government’s continued support to the agri economy in H2 of this year, are leading to positive sentiments among farmers during the on-going festive season, supporting tractor demand. In the exports market, we have sold 1,124 tractors.”

Mahindra & Mahindra Ltd. shares

The shares of Mahindra & Mahindra Ltd on Wednesday at 11:32 am IST were at Rs 1,468.20, up by 0.66 percent.