Escorts Agri Machinery Volumes grew by 9.5 percent in July 2020

Escorts Ltd Agri Machinery Segment (EAM) in July 2020 sold 5,322 tractors registering a growth of 9.5 percent against 4,860 tractors sold in July 2019.

Domestic tractor sales in July 2020 at 4,953 tractors registering a growth of 9.9 percent against 4,505 tractors in July 2019.

“During the month of July, we faced some supply chain challenges, especially with a few suppliers of proprietary items. As a result, we could operate only at about 50% of our capacity, resulting in unfulfilled demand. The situation has been continuously easing in the last few days of July, and hence we expect to go back to full capacity anytime up to mid-August 2020. The supply side situation may continue to be dynamic for another couple of months. Our inventory levels, both with the company and with channel, continues to be at very low levels. We are optimistic for the coming months as the rural sentiments continue to remain positive, led by timely and widespread monsoon, higher sowing of Kharif crop and adequate availability of retail finance”.

Export tractor sales in July 2020 at 369 tractors registering a growth of 3.9 percent against 355 tractors sold in July 2019.

Shares of ESCORTS LTD. was last trading in BSE at Rs.1133.8 as compared to the previous close of Rs. 1130.2. The total number of shares traded during the day was 91843 in over 4956 trades.

The stock hit an intraday high of Rs. 1161.4 and intraday low of 1126.9. The net turnover during the day was Rs. 105117116.

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