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Escorts Ltd. Q2 Profit Up by 32.5% at ₹ 102.7 cr.

  • Tractor volumes up by 3.3% at 21,039 units
  • Construction Equipment volumes up by 36.9% at 1,331 units
  • EBIDTA up by 11.7% at ₹ 157.5 crore
  • Profit up by 32.5% at ₹ 102.7 crore

New Delhi, October 31, 2018: Escorts Limited today reported a profit of ₹ 102.7 crore in the quarter ending September 30, 2018 up by 32.4 percent as against a profit of ₹ 77.6 crore in the corresponding period last fiscal. Revenue from operations up by 15.4% to ₹ 1,398.4 crore in quarter ended September 2018 as against ₹ 1,211.7 crore in the corresponding period last fiscal.

The net profit for the first half year ending September 2018 was up by 59.4 percent at ₹ 223.4 crore in half year ended September 30, 2018 as against a profit of ₹ 140.2 crore in the corresponding period last fiscal. Revenue from operations up by 22.5% to ₹ 2,909.6 crore in first half ended September 2018 as against ₹ 2,374.8 crore in the corresponding period last fiscal.

Speaking on the results, Chairman and managing Director Mr. Nikhil Nanda said,

“Escorts today has a very competitive and innovative product portfolio both in domestic and Export geographies. We are also building in strategic technology partnerships to bring in the global best for product efficiency and performance to offer best customer experience. Our shared service platforms like Crop Solutions and technology aggregation are also foraying well in the customer demand and will help mechanising farming nationally and elevate agricultural practices. Our construction equipment portfolio with our recent collaborations also have widened and offer product variability across applications. Railways business has a strong order pipeline and is constantly developing technology for sector comfort and safety. We are completely aligned to the national focus on farming mechanisation and developing urban smart infrastructure.”

SEGMENT WISE PERFORMANCE

Escorts Agri Machinery

Tractor sales were up by 3.3% at 21,039 units during the second quarter of the current fiscal. EBIT margins for quarter ended September 2018 up at 14.7% as compared to 13.7% in the corresponding period last fiscal.

For first half of current fiscal tractor volumes up by 20.2% at 45,533 units as compared to corresponding period last fiscal. EBIT margin for first half of fiscal up at 14.4% as compared to 12.3% in the corresponding period last fiscal.

Escorts Construction Equipment

Sales of construction equipment went up by 36.9% at 1,331 units in quarter ended September 2018 as against 972 units in the corresponding quarter. EBIT margin up at 0.7% as compared to 0.5% in the corresponding period last fiscal.

For first half of current fiscal Construction equipment’s volumes up by 44% at 2,676 units as compared to corresponding period last fiscal. EBIT margin for first half of fiscal up at 1.6% as compared to negative 0.8% in corresponding period last fiscal.

Railway Products Division

Revenue for the second quarter up by 44.5% at ₹ 105.9. crore as against ₹ 73.3 crore in the corresponding quarter. EBIT margin up at 20% as compared to 16.2% in the corresponding period last fiscal.

For first half of current fiscal revenue up by 40% at ₹ 194 crore as compared to corresponding period last fiscal. EBIT margin for first half of fiscal up at 22.4% as compared to 13.4% in corresponding period last fiscal.

Order book at end of September’18 is more than ₹ 400 crore and will be executed in the next 12~13 months.

The reviewed accounts of the second quarter and First six months ended 30th September 2018 has been approved by the Board of Directors of Escorts Limited.

For further information, please contact:

ESCORTS LIMITED

Sharad Gupta
Group Head, Corporate Marketing & Brand Communications
Escorts Ltd.
sharad.gupta@escorts.co.in

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