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