Mahindra’s farm equipment sector sales up by 27% in December

Domestic sales in December 2022 were at 21,640 units, up by 30 per cent as against 16,687 units during December 2021.

Pratiksha ThayilUpdated: Monday, January 02, 2023, 01:14 PM IST
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Mahindra’s farm equipment sector sales up by 27% in December | Mahindra

Mahindra & Mahindra Limited's Farm Equipment Sector (FES), part of the Mahindra Group, on Monday announced its tractor sales numbers for December 2022 through an exchange filing.

Domestic sales in December 2022 were at 21,640 units, up by 30 per cent as against 16,687 units during December 2021.

Total tractor sales during December 2022 were up by 27 per cent at 23,243 units, as against 18,269 units for the same period last year. Exports for the month were up by one per cent and stood at 1,603 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 21,640 tractors in the domestic market during December 2022, a growth of 30% over last year. Rabi crop sowing has progressed very well and is higher than last year's acreage and also higher than the average of the last 5 years. Wheat and oil seeds are expected to be bumper harvest. On the back of strong Rabi sowing, good Kharif procurement, and likely exports of wheat, the sentiment continues to remain upbeat in the farming sector, leading to strong demand for tractors and farm implements. In the exports market, we have sold 1,603 tractors, a growth of 1% over last year.”

On Monday at 1:08 pm IST, the shares of Mahindra and Mahindra Limited were at Rs 1,263.25 up by 1.12 per cent.

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