The company’s business in construction equipment grew by 22 percent.
Escorts Kubota’s Agri Machinery Segment (EAM) in June 2022 sold 9,265 tractors- declining by 22.5 percent as against 11,956 tractors sold during the year-earlier month. In a statement, the company said,” Industry wholesale was impacted during the month of June 2022 due to the high base of last year. With the onset of monsoons, and likely record kharif crop production, rural liquidity and farmer sentiments are expected to gradually improve."
Escorts Kubota Limited (formerly Escorts Limited) is one of India's leading engineering conglomerates has diversified business across three different verticals, Agri Machinery, Construction Equipment & Railway Equipment Division (RED).
In the construction equipment segment, the company in June 2022 sold 321 machines registering a growth of 22.5 percent against 262 machines sold in June 2021. Commenting on the development in the CE industry, it added, "In June 2022, growth trend continued in the Construction Equipment industry due to the low base of last year. With the Centre’s thrust on infrastructure, we expect growth momentum to continue in 2022-23".
RELATED ARTICLES
Hero Electric to source wiring harness solutions from Dhoot Transmission
Dhoot Transmission has collaborated with the EV OEM on the 3D design for the wiring harness which is designed to deliver...
BYD India gets over 2,000 bookings for Atto 3 e-SUV, begins deliveries
The Atto 3 has received more than 2,000 bookings since its launch in November 2022; only 1,200 units available to custom...
Ather Energy targets staffers of 2,500 corporates to make the shift to EVs
Electric two-wheeler OEM bundles corporate discounts and exchange offers worth Rs 16,259 on Ather 450 e-scooters to driv...