The Escorts Construction Equipment segment registers a decrease of 22.8% in March

Escorts Construction Equipment Segment (ECE) in March 2022 sold 525 machines compared to 680 machines sold in March 2021, registering a decrease of 22.8%. For Q4 FY22, the company sold 1286 machines compared to 1604 machines in Q4 FY21.

For FY22, the company achieved sales growth of 5.2% with 4,117 machines, compared to 3,913 machines for FY21.

The construction equipment industry continues to remain subdued in March 2022, due to last year’s high base, strong price increases due to changes in emission standards coupled with higher material price inflation raw materials and at moderate rents, which has an impact on retail sales.

Due to the government’s push on infrastructure projects, we expect demand to start improving for construction equipment in the coming year. Commodity price inflation continues to be a concern.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Comments are closed.