Mahindra Sold 34,153 units, Sales Boost by 50% in May

Mahindra & Mahindra's Farm Equipment Sector (FES) announced its tractor sales numbers for May 2022. The company's total tractor sales grow 48% YoY to 35,722 units in May 2022. Domestic tractor sales get lower escalated by 50% to 34,153 units while the tractor exports get increased by 17% to 1,569 units during the review period.

Mr, Hemant Sikka, president - of the farm equipment sector, M&M mentioned in his words that, "We have sold 34,153 tractors in the domestic market during May 2022, a growth of 50% over last year. The 51% growth was achieved in the month of April 2022. With the timely presence of the southwest monsoon and the estimate of a normal monsoon, the Kharif crop is expected to deliver record production. Food prices continue to be high, ensuring better compensation for farmers for their produce, creating a positive tendency and higher demand for tractors and agri implements. and highlighted mentioning was that in the exports market, we have sold 1,569 tractors, a growth of 17% over last year."

Mahindra & Mahindra enjoys a leadership position in farm equipment and utility vehicles in India and is the world's largest tractor company by volume. Mahindra & Mahindra offers a wide range of products and solutions ranging from SUVs, pickups, commercial vehicles, and farm tractors, to electric vehicles, two-wheelers, and construction equipment.

On a circumscribed basis, Mahindra & Mahindra's net profit surged 48% to Rs 2,237 crore on a 21% increase in revenue to Rs 25,934 crore in Q4 FY22 over Q4 FY21.