homevideos Newsbusiness NewsEscorts' tractor sales on a smooth road; management expects momentum to continue
Escorts' tractor sales on a smooth road; management expects momentum to continue
Bharat Madan, Group CFO of the company, in an interview to CNBC-TV18, said that the demand continues to be robust and expects tractor sales to continue to be strong for the next 6 months.
Escorts posted very strong 10 percent tractor sales growth in March. In fact, FY21 ended on a strong note with total tractor sales rising 24.1 percent during the year.
Bharat Madan, Group CFO of the company, in an interview to CNBC-TV18, said that the demand continues to be robust and expects tractor sales to continue to be strong for the next 6 months.
“The general rural sentiment is quite strong. If you look at the harvest which is happening, most of the harvest is done. So, with good traction coming in from the rural, the demand continues to be strong and robust. So, we expect the next 6 months to continue to look strong on the tractor side,” he said.
However, he said that future demand depends on monsoon distribution. “If you look at the last year, the growth was more coming from the Southern industry market where the maximum demand has come from and that is also because these are the regions which are more dependent on rains for irrigation. We had a very good rainfall in the last 2 years which was close to normal monsoon. So, it will all depend in future on how the monsoon distribution is in this coming season. The initial indication is that it will be closer to normal,” he said.
He also said that the rising COVID cases continues to be a concern in areas like Maharashtra. But as of now there has been no impact to the supply side, he added.
Watch video for more.
(Edited by : Abhishek Jha)
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