Mahindra & Mahindra's Farm Equipment Sector (FES), part of the Mahindra Group, on August 2 announced its tractor sales numbers for July 2021. Domestic sales in July 2021 were at 25,769 units, as against 24,463 units during July 2020, registering a growth of 5%.

Total tractor sales (Domestic + Exports) during July 2021 were at 27,229 units, registering a growth of 7% as against 25,402 units for the same period last year. Exports for the month stood at 1,460 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra said, "We have sold 25,769 tractors in the domestic market during July 2021 with a growth of 5% over last year. Demand remained buoyant in July as crop sowing operations gained traction with monsoon picking up pace across all the regions. Easing of COVID curbs & robust farm incomes on account of record Rabi crop procurement has bode well for the rural economy.

We continue to stay bullish on tractor demand in the coming months owing to revival of monsoon, hike in MSP of key Kharif crops & upcoming festival season. In the exports market, we have sold 1,460 tractors with a growth of 55%."

Shares of the company gained Rs 8.50, or 1.14%, to trade at  Rs 751.70.  The total volume of shares traded  was 59,850 at the BSE (12.15 p.m., Monday).