Mahindra & Mahindra Farm Equipment Sector (FES) has reported its best ever monthly sales in September 2017. M&M’s domestic sales were 44,000 units (September 2016: 29,035), a year-on-year increase of 52 percent. The company also exported 1,563 units, which meant total tractor sales (domestic + exports) comprised 45,563 units (September 2016: 30,562 units), up 21 percent.
Rajesh Jejurikar, president, Farm Equipment Sector, Mahindra & Mahindra, said: “With a good monsoon and improved kharif production estimates, we expect the positive sentiments to continue through the festive season."
M&M has been quite aggressive in its farm equipment sector, the company recently unveiled the country’s first indigenously developed Level 1 autonomous tractor. Additionally, the company also acquired its second Turkish tractor manufacturer Erkunt Traktor Sanayii A.S, and 80 percent stake in Erkunt Sanayi A.S.
Currently, M&M ranks fifth globally in terms of revenue of its agri-equipment sector, while it leads and aces the global rankings in tractor volume terms. The farm equipment segment contributes 20 percent or $3.5 billion (Rs 22,109 crore) to the total $18-19 billion (Rs 113,076-120,023 crore) of the Mahindra Group revenues.
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