Mahindra reports strong growth for April 2022

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Mahindra’s Farm Equipment Sector sold 39,405 units in India during April 2022, registering a growth of 51%. Domestic sales in April 2022 were at 39,405 units, as against 26,130 units during April 2021. Total tractor sales (domestic + exports) was at 40,939 units, as against 27,523 units for the same period last year. Exports for the month stood at 1,534 units.

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “Our business witnessed strong growth with demand drivers staying on course. Rabi harvesting has progressed well across markets. Amidst the ongoing global situation and high exports of wheat from India, demand for the Indian wheat crop has been very high and this has led to farmers getting higher prices in the open market for their produce than MSP. Furthermore, oilseeds are fetching a higher market price in the domestic market. Both IMD and Skymet have forecasted a normal monsoon for this year, and this bodes very well for the upcoming Kharif season and will support continued growth for the tractor industry.

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