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Escorts Limited
Sector:Automobiles Automobiles - Tractors
BSE:500495NSE:ESCORTSBloomberg:ESC@INReuters:ESCO.BO
Market Lot: 1Face Value: 10ISIN Demat: INE042A01014
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01-Feb-2019
Business Profile
Escorts (ESCORTS), formed in 1944, manufactures farm equipment, automotive components, railway ancillaries, construction machinery, shock absorbers and telecom equipment.

Escorts is one of the country`s biggest tractor makers. It has a joint venture with Long Manufacturing of North Carolina for the manufacture, assembly and sale of tractors. EL has an exclusive distributorship agreement with Traksan for the sale of the company`s Farmtrac-60 tractors in Turkey. The Escorts group is investing Rs 3,000 million in the agri-machinery business. Of this, Rs 2,000 million will be invested in the tractor plant in Pune. It has set up a joint venture with the Carraro group of Italy.

In the year 1996, is subsidiary Escorts Tractors formally merged with the company. The subsidiary manufactures several brands of tractors; viz. Escort, Farmtrac and Powertrac, Paddy Transplanters, Sugarcane Harvesters, transmissions and axles, shock absorbers, telescopic front, forks and McPherson struts, railway equipments.

The company plans to launch a new tractor every six months to expand its portfolio.



Financials
The company announced rise of 52.33% in standalone net profit on y-o-y basis to Rs 1.40 billion, while total income climbed 38.43% y-o-y basis to Rs 16.79 billion for the quarter ended December 2018.

Recent Developments
01-FEB-19
Escorts Agri Machinery Segment (EAM) in January 2019 sold 5,991 tractors registering a growth of 12.7 percent against 5,316 tractors sold in January 2018.

01-NOV-18
Escorts Agri Machinery Segment (EAM) in October 2018 sold 13,140 tractors registering a growth of 28.8 percent against 10,205 tractors sold in October 2017.

27-AUG-18
Escorts, India's leading engineering conglomerate and Tadano Group, Japan's biggest and world's leading mobile crane manufacturer, today announced their joint venture to manufacture rough terrain cranes and truck mounted cranes.

01-AUG-18
Escorts Agri Machinery Segment sold 5,610 tractors in July 2018 compared to 5,418 tractors in July 2017, recording a growth of 3.5%.

02-JUL-18
Escorts Agri Machinery Segment (EAM) in June 2018 sold 9,983 tractors registering a growth of 72.8% against 5,776 tractors sold in June 2017.

01-JUN-18
Escorts Agri Machinery Segment (EAM) in May 2018 sold 8,325 tractors registering a growth of 20.9 percent against 6,886 tractors sold in May 2017.

07-SEP-17
Escorts, India's leading engineering conglomerate today launched India???s first Electric & Hydrostatic concept tractor and an expanded global portfolio of tractors for the export and domestic market in 22HP to 90 HP

28-JUL-17
Escorts disclosed a substantial rise in standalone net profit for the quarter ended June 2017. During the quarter, the profit of the company rose 33.40% to Rs 626.44 million from Rs 469.58 million in the same quarter last year.



In Brief

 
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