Farm Equipment

Escorts Kubota Q4 results: Net profit rises 16.37% to Rs 251.89 crore

Farm equipment and construction equipment firm, Escorts Kubota Ltd on Thursday reported a 16.37 per cent increase in consolidated net profit at Rs 251.89 crore in the fourth quarter ended March 31, 2024. The company had posted a profit of Rs 216.46 crore in the same quarter of the previous fiscal, Escorts Kubota said in a regulatory filing. Consolidated revenue from operations in the fourth quarter stood at Rs 2,093.53 crore as against Rs 2,214.48 crore in the year-ago period, it added. Tractor sales in the quarter were lower at 21,253 units as against 24,765 units in the corresponding period of the previous fiscal. Total expenses during the quarter were lower at Rs 1,881.11 crore as compared to Rs 2,023.32 crore in the same period a year ago. Construction equipment volume in Q4 was higher at 1,789 machines as compared to 1,530 machines in the year-ago period, the company said. The board of directors of the company has approved a dividend of Rs 18 per fully paid-up equity share o

M&M August sales up 19% overall, automaker reports 26% growth in SUVs

Farm equipment sales see 3% growth, while exports drop by 26% YoY; 3-wheeler sales up 47%

M&M rolls out new wheel harvester under Swaraj, targets 15-20% mkt share

Mahindra & Mahindra Ltd (M&M Ltd) on Wednesday rolled out a new wheel harvester under the Swaraj brand in the domestic market as it looks to tap aggressively the farm mechanisation market in the country. With its latest offering, the brand is aiming for a 15-20 per cent market share in the wheel harvester segment in the long-term, Harish Chavan, Chief Executive Officer at Swaraj Division, said. Manufactured at the company's new farm machinery facility at Pithampur near Indore in Madhya Pradesh, the new 'Swaraj 8200 Wheel Harvester' will be available from the upcoming crop season for the customers through its dealerships pan-India, he said. "The mechanisation in the harvesting space (in the country) is still picking up. We want to give shape to it and that is the reason we want to participate now aggressively as we are participating in tractor segment," Chavan told PTI. He said that with the tractor industry growth reaching an all-time high, the agri mechanisation sector is ...

New foreign trade policy to aid exports via e-com, farm equipment: Experts

The new Foreign Trade Policy (FTP) 2023, announced recently, will help in promoting exports of sectors from e-commerce, batteries for electric vehicles and farm equipment, experts said on Tuesday. India on March 31 came out with the new policy which aimed at pushing rupee trade, increasing outward shipments to USD 2 trillion by 2030, and promoting e-commerce exports, amid global uncertainties. Rumki Majumdar, Economist at Deloitte India, said that the policy emphasises on the manufacturing and export sectors with a long term view. Sectors such as batteries for EVs, green hydrogen, and garment, amongst others will benefit from the policy, she said, adding that with over 80 per cent of trade being done in the USD, encouraging trade in Indian rupee will be a relief. "It will also add to its resilience to external shocks and improve negotiating capabilities in international trade," Majumdar said. Shashi Mathews, Partner at IndusLaw, said that through the policy, the government's focus

From M&M to Escorts, tractor makers hitch a ride on farm machinery

A saturated tractor market and increasing mechanisation provide the momentum

We're not keen on diversifying at this point, says M&M's Anish Shah

Group has ten businesses 'which have lot of potential and can grow', says managing director and CEO-designate.

Mahindra's Farm Equipment Sector rolls out Krish-e centres in Maharashtra

M&M's Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, on Friday said it has rolled out Krish-e centres in Maharashtra under its new 'Farming as a Service' business.

Agricultural equipment market in slow lane amid coronavirus lockdown

The lockdown has completely disrupted the supply chain. Fearing police harassment and scared of the unknown, several truck drivers and migrant labourers have left for their native places

Coronavirus: TAFE offers 3,000 tractors for rent-free use by UP farmers

Tractor major to provide tractor, farm implements for rabi season

M&M rejigs top management in automotive, farm equipment divisions

Homegrown auto major Mahindra & Mahindra (M&M) on Monday announced a rejig of its top management in automotive and farm equipment sectors with its President for auto vertical Rajan Wadhera set to retire and step down from executive role. Announcing changes in the group corporate office as well as in auto and farm sectors, to be effective from April 1, 2020, the company said Veejay Nakra will be appointed as CEO of the auto division. He will have operating responsibility for passenger vehicles and entire commercial business with profit and loss accountability, except for product development process, M&M said in a statement. It further said Hemant Sikka will head the farm equipment sector, while R Velusamy will be appointed as the chief of Global Product Development (Automotive) and Vinod Sahay as Chief Purchase Officer of AFS (auto and farm sectors). Nakra, Sikka, Velusamy and Sahay will report to Rajesh Jejurikar, who will join M&M Board as Executive Director AFS from .

M&M buys 75% stake in Turkish farm equipment maker Hisarlar for Rs 130 cr

The deal will help Mahindra & Mahindra to grow its farm equipment business in Turkey and Europe