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Escorts Group News

Nikhil Nanda takes charge as Joint Managing Director

At the Board Meeting of Escorts Limited held today, Mr. Nikhil Nanda, Director and Chief Operating Officer has been elevated to the position of Joint Managing Director of the company. In his new role, he will lead the operations of the company and will drive the business growth initiatives of Escorts.

Escorts Signs up with IHI of Japan and Huata of China for Marketing of their Range of Crawler and Tower Cranes

Faridabad: Escorts Construction Equipment Limited (ECEL) has signed up with IHI Construction Machinery Limited of Japan, the US$ 8 billion manufacturer of crawler cranes, for marketing of its crawler cranes in India.

Escorts continues to surge ahead on firmly chalked out growth plans

New Delhi, April 26, 2007: Escorts continues its unabated growth with strong performances in the second consecutive quarter ended March 2007 (FY October 2006 - September 2007). Moving ahead as per its chalked out resurgence program, the company's production and sales volumes have gone up considerably (sales volume of tractors up 24% at 14,795 from 11,970 in the corresponding quarter of previous year).

Escorts Board Approves Raising of US$ 100 Million Equity Linked Instrument through QIP

Escorts Ltd. today announced the Board of Director’s approval for raising US$ 100 million Equity Linked Instrument through Qualified Institutional Placement (QIP).

Escorts Announces Senior Appointments in Group Companies

Kamal Bali joins as CEO, Escorts Construction Equipment Limited (ECEL) and Inderjit Singh as Head-Knowledge Management Center of Agri Machinery Group (AMG)

Darby’s Second Asia Mezzanine Fund makes Investment in Escorts Construction Equipment Ltd.

New Delhi, March 26, 2007: Darby Overseas Investments, Ltd. ("Darby"), the private equity arm of Franklin Templeton Investments and a leading provider of private equity and mezzanine capital in emerging markets has committed an investment of Rs 750 million through an affiliate of its Darby Asia Mezzanine Fund II ("DAMF II") in Escorts Construction Equipment Ltd. ("ECEL"), the wholly owned subsidiary of Escorts and a leading manufacturer of construction and material handling equipment.

Escorts Re-Energising Gains Further Momentum

New Delhi, January 16, 2007: The re- energising story of Escorts continued unabated in Q1 with a remarkable turnaround in financial performance for the first quarter ended (FY October 06- September 2007) with a sharp rise in Sales volumes and the attendant positive EBIDTA.

Resurgence at Escorts Ltd

Tractor sales volumes at 47,612 up 83% on previous year annualised basis

Escorts Limited Divests Stake in Carraro India Limited for Euro 20 Million

New Delhi, 15th September 2006: Escorts Limited has signed an agreement with Carraro International S.A., a group company of Carraro S.p.A. to divest its 49% shareholding in Carraro India Limited, a joint venture between Escorts Limited and Carraro S.p.A. This divestment in turn would help Escorts Limited realize Euro 20 million at the current rate of exchange.

Escorts Ltd. sets up Rs. 25 Crores facility in Uttaranchal for manufacture of Auto Components and Railway Equipment

New Delhi, 13th September 2006: Escorts Limited a leading manufacturer and supplier of Agri Machinery Products, Auto Suspension, Ancillary Products and Railway Equipment is setting up a manufacturing facility, with an investment of Rs.25 crores, at Integrated Industrial Estate, Pantnagar, Uttaranchal. It will manufacture auto components and railway equipment and add to its existing product portfolio.

Darby’s Second Asia Mezzanine Fund makes Investment in Escorts Construction Equipment Ltd.

Infusion of Rs.750 million to meet Escorts’ ambitious growth plans in its construction equipment business

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