Auto major Mahindra and Mahindra (M&M) is expecting double-digit growth in the financial year 2021, said Hemant Sikka, President of Farm Equipment Sector.
“We are in the process of capacity addition, but in the current year if we are able to do double-digit, of which we are confident, we will be happy with it,” said Sikka in an interview with CNBC-TV18.
“While we were running for the festive season here in the months of October-November-December and this time Diwali was in mid-November, we chalked out all our supplies to exports where we have huge pipeline of orders. So I also have to balance out between domestic and exports. So, we have grown 60 percent in the month of December for our export numbers and I want to continue that going into January-February-March,” said Sikka.
Sikka is expecting 15 percent growth for the tractor industry in FY21. “So far the industry has done well; in the month of December also the industry did much better than last December. So overall year-to-date (YTD), December – we are looking in the region of 15 percent plus growth for the industry,” he said.
“We won’t be able to do 15 percent. We will try and do double-digit because right now we have excellent demand for all our products,” said Sikka.
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