Mahindra registers 50% growth in May

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES) reported its tractor sales numbers for May 2022. Domestic sales were at 34,153 units, as against 22,843 units during May 2021. Total tractor sales (Domestic + Exports) were at 35,722 units, as against 24,184 units for the same period last year. Exports also went up.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 34,153 tractors in the domestic market during May '22, a growth of 50% over last year. This is on the back of 51% growth achieved in the month of April '22. With the timely arrival of the south-west monsoon and forecast of a normal monsoon, kharif crop is expected to deliver record production. Food prices continue to be high, ensuring better remuneration for farmers for their produce, creating a positive sentiment and higher demand for tractors and agri implements. In the exports market, we have sold 1,569 tractors, registering a growth of 17% over last year."