Domestic volumes increase by 18.2% in April-January FY2017; exports volumes remain flat : ICRA

·         Tractor volumes in domestic market reported a positive growth trajectory during current fiscal (growth in volumes of 18.2% in 10m, FY2017 on a YoY basis) fuelled by favourable farm sentiments as southwest monsoon performance remained healthier as compared to previous two fiscals


·         Industry growth moderated by demonetisation in the current fiscal; any significant impact of El Nino on monsoon precipitation could adversely impact farm sentiments

·         ICRA has an outlook of 14-15% growth in tractor volumes (domestic + exports) in FY2017

Please find enclosed herewith the entire report

ICRA update on Tractor Industry 4 April 2017