Escorts announced that the Central Farm Machinery Training and Testing Institute, Budni has certified that its Electric Tractor with the description Escorts, Farmtrac (26E) Agriculture Tractor manufactured by Escorts, complies with the provision of Central Motor Vehicles rules, 1989.

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Escorts said this was its highest ever December sales. On a sequential basis, however, the tractor sales declined 23.9% in December 2020 from 10,165 units sold in November 2020.

Domestic tractor sales in December 2020 was at 7,230 units, registering a growth of 90% from 3,806 units sold in December 2019. Export tractor sales jumped 63.3% to 503 units in December 2020 from 308 units sold in December 2019.

Post Lockdown, this is the first month where we could supply as per demand of customers, some of whom waited long to get their preferred tractor brand. Going forward all macroeconomic factors remain in favour of continued growth and we do not expect any significant supply-demand gaps. Rising Inflation, however, continues to be a worry, Escorts said in a regulatory filing.

Escorts is one of India's leading engineering conglomerates. The company has diversified business in to three different segments. Escorts Agri Machinery (EAM), Escorts Construction Equipment (ECE) & Railway Equipment Division (RED).

The company's standalone net profit jumped 119.8% to Rs 229.9 crore on 23.9% rise in revenue from operations to Rs 1,639.7 crore in Q2 September 2020 over Q2 September 2019.

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Escorts Ltd gained 3.28% today to trade at Rs 1301. The S&P BSE Auto index is up 0.69% to quote at 20955.43. The index is up 1.76 % over last one month. Among the other constituents of the index, Mahindra & Mahindra Ltd increased 1.67% and Ashok Leyland Ltd added 1.1% on the day. The S&P BSE Auto index went up 13.11 % over last one year compared to the 15.01% surge in benchmark SENSEX.

Escorts Ltd has lost 8.23% over last one month compared to 1.76% gain in S&P BSE Auto index and 7.3% rise in the SENSEX. On the BSE, 15352 shares were traded in the counter so far compared with average daily volumes of 78589 shares in the past one month. The stock hit a record high of Rs 1452.85 on 04 Dec 2020. The stock hit a 52-week low of Rs 527.1 on 19 Mar 2020.

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Escorts Agri Machinery Segment (EAM) in December 2020 sold 7,733 tractors, its highest ever December sales and registering a growth of 88% against 4,114 tractors sold in December 2019.

Domestic tractor sales in December 2020 was at 7,230 tractors registering a growth of 90% against 3,806 tractors in December 2019. Export tractor sales in December 2020 was at 503 tractors against 308 tractors sold in December 2019, registering a growth of 63.3%.

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