Mumbai, March 1, 2016: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 16.9 billion Mahindra Group, today announced its sales numbers for February 2016.
Domestic sales in February 2016 stood at 12,702 units, as against 10,267 units during February 2015. Total tractor sales (domestic + exports) during February 2016 stood at 13,574 units, as against 11,437 units for the same period last year. Exports for the month stood at 872 units.
Commenting on the month’s performance,
Rajesh Jejurikar, President and Chief Executive - Farm Equipment and Two Wheelers, Mahindra & Mahindra Ltd.said, "We have sold 12,702 tractors in February 2016 in the domestic market registering a growth of 24%. We believe that the increased allocation for agriculture and rural infrastructure in this annual budget coupled with increased MSP for Rabi crops would generate positive sentiment and drive growth going forward. In exports we sold 872 units during the last month."
EQUIPMENT SECTOR (vs PY)
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013.
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