Escorts Agri Machinery, the agriculture machinery vertical of Escorts Group, is mulling to unveil crop solutions and gadgets for advanced agriculture practices to cater to progressive farmers across the country.
Escorts Agri Machinery chief executive officer S Sridhar said the company was working on new strategies for futuristic equipment and gadgets for improving the yield in the Indian farming sector. The company on Wednesday rolled out two new tractor models — Farmtrac 6060 and 6065 and named them executive tractors.
According to Sridhar, this brand caters to the niche market as the tractors cost between Rs 7 lakh and Rs 10 lakh. Talking to Business Standard on the sidelines of the launch of its new high-powered tractors under the brand name of Farmtrac, he stressed on the fuel efficiency of the new variants and said a farmer could save one litre of fuel in a day using these tractors.
“A rotavator of eight to nine feet can be attached to the new tractor as compared to other tractors which are compatible to a rotavator of five to six feet,” he noted.
Sridhar divulged that the company would unveil more variables in six months and plans to transform agriculture mechanisation in the country three years down the line.
The company is into premium segment with Farmtrac and mass segment with Powertrac tractors drawing equal business from both the segment. But the company envisages to consolidate its position as a premium segment player to clock number one position in a few years from now, said the CEO.
An inland fuel injection pump is added to the new machinery to improve the fuel efficiency of Farmtrac.
Sridhar pointed out that despite a stagnation in demand of tractors, Escorts has been able to maintain higher sales as it caters to the premium buyers. “We do not have an in-house arm for financing nor do we have tie-ups for loan facilities as a farmer who buys high-end tractor is self-sufficient for his fund requirements.”
He added that the company has a capacity of 95,000 tractors per annum and was currently producing close to 70,000 tractors annually.
He said that Indian economy needs a big push in agriculture and the private sector players are pumping in huge funds for research and development in technology upgradation to match the need of the hour.
