Escorts forecasts double-digit growth in tractor sales

New Delhi: Farm machinery and construction equipment major Escorts Ltd is confident of clocking a double-digit growth in tractor sales in 2021-22, having registered good volume in the first quarter, according to a senior company official.

Despite the uneven spread of monsoon in its strong markets of north and east parts of the country, the company is confident that it will be able to continue its growth momentum.

However, it is expecting some slowdown as a result of increase in commodity prices resulting in higher cost of tractors.

"We had a good growth in the quarter one...the balance of the year obviously, some sort of slowness may come in...A lot will depend on how the monsoon distribution is," Escorts Group Chief Financial Officer and Corporate Head Bharat Madan told.