Millat Tractors Limited (MTL): Dec’24 sales up 2.3xMoM – highest since Apr’18 – By Taurus Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">MTL&rsquo;s sales for Dec&rsquo;24 clocked-in at 4,686 units, highest since Apr&rsquo;18, up 2.3xMoM. We attribute the sudden surge in sales primarily to the launch of the Green Tractor Scheme in Punjab. Wherein, the Punjab Government is likely to provide 9,500 tractors to farmers on a subsidy basis to the tune of PKR 1Mn; with locally manufactured tractors of 50HP to 85HP being eligible.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Accordingly, MTL with a ~60% market share of the domestic tractor market is expected to be the biggest beneficiary of this scheme. News sources suggest that so far 3,973 tractors have been delivered, with the remaining expected to be delivered by Mar&rsquo;25. Henc...