A man drives his tractor past a coking factory at sunrise in Linfen, Shanxi province, China. (Photographer: Qilai Shen/Bloomberg)  

Escorts Eyes Double-Digit Sales Growth This Year Aided By Rural Demand

Escorts Ltd. hopes to achieve double-digit sales growth by the end of the year on rising rural demand.

That’s prompted the tractor maker to has revised its tractor sales growth guidance higher after projecting single-digit sales growth last month, Group Chief Financial Officer Bharat Madan told BloombergQuint in an interview. But record sales last year would mean that the company is operating on a higher base. That may lead to a slight deviation from the target, he added.

The company’s total sales in April rose 26.3 percent to 6,186 units on a year-on-year basis. Domestic sales rose 28 percent while exports declined 34 percent in the same period.

Also read: HSBC Initiates New Buy On Escorts On Recovery From Years Of Rough Patch

Watch the full conversation here: