Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Union Budget
Budget 2011-2012 Home
Industry Expectations - Budget 2011-2012
Industry Reactions - Budget 2011-2012
Budget 2010-2011
Budget 2010-2011 Home
Industry Expectations - Budget 2010-2011
Industry Reactions - Budget 2010-2011
Contributor's Corner
Bonanza Portfolio
Hemant K Gupta
Krish Bhatt
Trinity Investments
Exchange Information
BSE 2009 Holidays
NSE 2009 Holidays
Investor Guide
Depository & Dematerialisation
Grievance Redressal
Investor Guide
Trading of Securities
Transfer of Securities
Your Rights
Budget 2009-2010
Budget 2009-2010 Home
Industry Expectations - Budget 2009-2010
Industry Reactions - Budget 2009-2010
Interim Budget 2009-2010 Home
Industry Expectations - Interim Budget 2009
Budget 2008-2009
Railway Budget 2008-2009
Industry Expectations - Budget 2008
Union Budget 2008-2009
Highlights of Budget 2008-2009
Summary of Budget 2008-2009
Industry Reactions - Budget 2008
Current IPOs
Past IPOs
IPO Subscription
Mutual Funds
Gold Exchange Traded Fund
MF Unique Holding
Forthcoming Dividends
ELSS Schemes Comparison
Tax Plans
New Fund Offers
Market Whispers
Tax Planning
Equity Linked Savings Scheme
Post Office MIS
9% GOI Senior Citizens Savings Scheme
8% Savings (Taxable) Bonds
Kisan Vikas Patra
National Savings Certificate
Public Provident Fund
Stock Report

| More

Escorts reports 20% growth in sales to Rs.3,877.7 Crore, EBIDTA up 23.1% at Rs.182 crore

Posted On: 2012-11-27 10:03:09

Escorts Limited reported its first annual results of the post-merger entity. The company reported net sales of Rs. 3,877.7 crore, an increase of 20% over the previous fiscal's net sales of Rs. 3,210 crore. Escorts Limited reported a 23.1% increase in EBIDTA at Rs. 182.2 crore as against Rs. 148.1 crore in the previous fiscal. Net Profit stood at Rs. 69.6 crore.

The annual results for fiscal 2011-12 are post the completion of the process of merger of group companies Escorts Construction Equipment Limited ("ECEL"), Escorts Finance and Investments Private Limited ("EFILL") and Escotrac Finance Investments and Leasing Private Limited ("Escotrac") into Escorts Limited.


Escorts reported net sales of Rs. 3,179 crore whilst recording a 22% increase in EBIDTA at Rs. 180.6 crore. Net sales dipped marginally by 1.8%. Profit Before Tax rose from Rs. 100.6 crore last year to Rs. 107.3 crore in the current fiscal. The company reported a Net Profit of Rs. 89 crore as against Rs. 120 crore the previous fiscal. In the previous fiscal, the company's profits had benefited from a tax credit of Rs. 38 crore. Profits have also been impacted by increase in finance charges as a result of increase in deployment of working capital.

The standalone results are the performance of the company comparable to last year's results prior to merger (excluding ECEL, EFILL and Escotrac).

Escorts Limited follows an October-September fiscal year.

Speaking on the annual results, Chairman and Managing Director Mr. Rajan Nanda said, "The last fiscal was difficult and Escorts battled successfully against the market challenges both in the tractor and construction industry. Escorts has decided to take the path of driving growth by opening up markets and capturing market share while keeping a tight rein on costs. Further, the recent policy decision of allowing FDI in multi brand retail will help farmers become part of India's growth story, thereby driving mechanization. The outlook on the infrastructure and construction business continues to be difficult but the government's effort to revive growth is timely. The combined strength of the group implies greater flexibility to deal with down turns and to stay profitable in the toughest of market situations."

The tractors division EBIT increased by 20.7% to Rs 226.6 crore from Rs 187.7 crore in the previous fiscal. The year saw a slowdown in tractor sales with volumes at 60,673, down 4.3 per cent, however company domestic market share stood at 11.7%. Escorts Agri Machinery revenue dropped marginally by 1.3 per cent at Rs 2,912 crore as against Rs 2,950 crore in the previous fiscal. Net revenue for Escorts Construction stood at Rs 749 crore as against Rs 827 crore in the previous fiscal, reflecting the overall shrinkage in industry. The Auto Products Division recorded sales growth of 16.3 per cent at Rs. 143.2 crore.

Mr. Nikhil Nanda, Joint Managing Director said, "The restructured Escorts Limited will be the transformation driver for Escorts Limited and will bring significant benefits to customers, shareholders and wider stakeholders. In FY 2012-13, the company has embarked on the process of becoming a large, collaborative engineering enterprise with seamless sharing and transfer of manufacturing best practices between divisions. To start with, the Agri Machinery division is driving introduction of new products every 6 months, which not only brings value to the customers but will significantly increase Escorts market share. The Construction division too is setting its sights on the near horizon, as the return of the construction boom is imminent due to pent up demand for infrastructure and housing projects.


The company and its wholly owned subsidiaries recorded net sales of Rs. 4,050 crore as against Rs. 4,101 crore in the previous fiscal, a marginal decline of 1.2%. EBIDTA improved by 13.1 % from Rs. 167.5 crore to Rs. 189.5 crore. Profit Before Tax stood at Rs. 91.9 crore while Net Profit stood at Rs. 73.2 crore. Last year, the company had a tax credit of Rs. 38 crore which had bolstered its net profit to Rs. 125 crore.

The audited accounts of 2011-12 ending September 2012 has been approved by the Board of Escorts Limited.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Gujarat Industries Power Company signs agreements under PSDF for gas based power plants
Tata Motors Ltd clarifies on rating cut by S&P
Asahi Songwon Colors Ltd calls for Board Meeting on Oct 09, 2015
Media Matrix Worldwide Ltd announces resignation of Company Secretary cum Compliance Officer
Karnataka Bank Ltd cuts Base Rate by 25bps
H S India Ltd calls for Board Meeting on Oct 10, 2015
VCCL Ltd calls for Board Meeting on Oct 09, 2015
Financial Technologies (India) Ltd clarifies on issuing dividend
ASM Technologies Ltd Board to consider Interim Dividend for 2015-16
Asian Paints Ltd to announce Q2 results on Oct 23, 2015
Dr. P V Krishna resigns from UPL Ltd
Reliance Infrastructure Ltd clarifies on investor for cement and road business
Biocon Ltd acquires business assets of Acacia Lifesciences Pvt. Ltd.
Rutron International Ltd Changes Name as Pazel International Ltd
Dr. Anup K. Pujari assumes charge as Chairman & MD of SAIL
Sturdy Industries Ltd Updates on resignation of Director
Novartis India Limited completes transfer of OTC Division
CRISIL Limited assigns credit rating for short term debt of Edelweiss Financial Services Ltd.
Madhur Industries Ltd appoints Mrs. Bhavna Mehta as Director
Sanasa Tech Feb Ltd announces resignation of Company Secretary & compliance Officer
SML Isuzu Ltd sells 1032 vehicles during September 2015
Adarsh Mercantile Ltd announces resignation of Company Secretary & Compliance Officer
Lyka Labs Ltd completes Sale of Animal Health Biz to SeQuent
GlaxoSmithKline Pharmaceuticals Ltd to consider Q2 results on Oct 31, 2015
Kaveri Seed Company Ltd to pay final dividend of Rs. 2.50 on Oct 8, 2015
HCL Technologies Ltd to announce Q1 results on Oct 19, 2015
Link Pharma Chem Ltd appoints Company Secretary & CFO
Aseem Global Ltd appoints Company Secretary
Kalyani Steels Ltd increases stake in Lord Ganesha Minerals Pvt. Ltd.
Zee Entertainment Enterprises Ltd to consider Q2 results on Oct 14, 2015
Cummins India acquires remaining 50% shareholding in Cummins Svam Sales & Service Private Limited
NBCC secured Business amounting Rs. 276.96 Cr (approx) in the month of Sept 2015
Escorts Ltd Agri Machinery Segment sells 5,606 tractor in September 2015
20-year old Indian woman with Type 1 diabetes conquers White Mountains in Crete, Greece
Vardhman Textiles Ltd appoints Independent Director
Steel Strips Wheels Ltd reports lower sales of 10.91 lacs wheel rims in September 2015
Synergy Bizcon Ltd reappoints Director
Hinduja Ventures Ltd to approve 2nd quarter results on Oct 14, 2015
Unichem Laboratories Ltd to consider Q2 results on Oct 17, 2015
Sphere Global Services Ltd receives NSE Revocation
Maxheights Infrastructure appoints additional director
Alok Industries Ltd appoints additional Directors
Shoppers Stop Ltd opens one Crossword franchisee store at Kochi
BEML Ltd announces change in Directorate
Hero MotoCorp Ltd clocks 6-Lakh plus Sales in September 2015
Mahindra & Mahindra Ltd's Tractors sales at 17,052 units in India during September 2015
Autoriders International Ltd calls for Board Meeting on Oct 05, 2015
Autoriders Finance Ltd calls for Board Meeting on Oct 05, 2015
Advani Hotels & Resorts (India) Ltd appoints Dr. S D Israni as additional director
US Universities and PSG Institute Researchers are Creating Low Cost Prosthetic Heart Valves for India

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2014