New Delhi: Farm tools and engineering main Escorts Ltd on Saturday reported 9.5 p.c enhance in tractor sales at 5,322 items in July.
The company had bought a complete of 4,860 items in the identical month last year, Escorts Ltd said in a regulatory submitting.
Domestic tractor sales in July 2020 at 4,953 tractors registering a progress of 9.9 p.c in opposition to 4,505 tractors in July 2019.
During the month of July, the company confronted some provide chain challenges, particularly with a number of suppliers of proprietary objects, Escorts said in a launch.
“As a result, we could operate only at about 50 percent of our capacity, resulting in unfulfilled demand. The situation has been continuously easing in the last few days of July, and hence we expect to go back to full capacity anytime up to mid-August 2020,” highlighted Escorts.
The company additional said that the availability facet state of affairs could proceed to be dynamic for an additional couple of months.
“Our inventory levels, both with the company and with channel, continues to be at very low levels. We are optimistic for the coming months as the rural sentiments continue to remain positive, led by timely and widesp monsoon, higher sowing of Kharif crop and adequate availability of retail finance,” added the company.
Besides, company’s export tractor sales in July 2020 at 369 tractors registering a growth of 3.9 percent against 355 tractors sold in July 2019.