Escorts declines by 16.9% in June
DSIJ Intelligence / 03 Jul 2017
Escorts, which offers agricultural tractors and construction equipment said that its Agri Machinery Segment (EAM) sold 5,776 tractors
On Monday, Escorts, which offers agricultural tractors and construction equipment said that its Agri Machinery Segment (EAM) sold 5,776 tractors, declining by 16.9% in June 2017 as compared to 6,946 tractors in June 2016.
Exports for the month of June 2017, rose 91.1% at 107 tractors, as compared to 56 tractors in June 2016.
The company’s domestic sales in June 2017 stood at 5,669 tractors, slowing down by 16.8% as against 6,980 in June 2016.
Although domestic retail sales have grown by about 12% (YoY),the whole sales have been reduced during June 2017 to enable de-stocking by the dealers to minimize the transition impact on inventories caused by GST provisions and the same will be made up during Q2 FY18, the company said in its regulatory filing.