Escorts Kubota Limited Agri Machinery Business Division in July 2023 sold 5,570 tractors up by 3.9 per cent as against 5,360 tractors sold in July 2022, the company announced on Tuesday through an exchange filing.
Domestic tractor sales in July 2023 were at 5,161 tractors up by 9.7 per cent against 4,704 tractors sold in July 2022.
The company in the regulatory filing said, "Monsoon has progressed well during the last 2 months barring certain eastern pockets, but some parts of the country have received heavy rainfall, resulting in flood like situations and affecting on ground activities. With all macroeconomic factors remaining positive for our Industry, we expect the retail demand to pick up well in the upcoming festive months starting September."
Export tractor sales in July 2023 were at 409 as against 656 tractors sold in July 2022 with a drop of 37.7 per cent.
Quarterly numbers
Escorts Kubota in the April-July period sold a total of 32,152 tractors in comparison with 32,157 tractors sold in the same period in the previous year. The domestic sales in the four months grew by 3.7 per cent at 30,387 units in comparison to 29,312 tractors sold in the financial year 2023. The exports in the period saw a drop of 38 per cent with 1,765 exported against 2,845 tractors in April-July 2022.
Escorts Kubota shares
The shares of Escorts Kubota on Tuesday morning at 11:22 am IST were trading at Rs 2,531.80 down by 7.65 per cent.
