Escorts Kubota Limited Agri Machinery business in April 2023 sold 7,565 tractors with a drop of 9.1 per cent against 8,325 tractors sold in April 2022, the company announced through an exchange filing. Domestic tractor sales in April 2023 were at 7,252 tractors as against 7,676 tractors sold in April 2022 with a drop of 5.5 per cent.
Export tractor sales in April 2023 fell down by 51.8 per cent to 313 against 649 tractors sold in April 2022.
The company said Festive pre-ponement impacted sales in the month of April. Due to pre-ponement of the key festive season this time to March’23 as against April last year, combined with unseasonal rains impacted sales for the month.
Going forward, due to positive macroeconomic factors on account of good rabi harvest, improved crop prices and adequate water reservoir levels, we expect demand momentum to improve across geographies, for the quarter.
Escorts Kubota shares
The shares of Escorts Kubota on Friday closed at Rs 1,980, up by 2.09 per cent.