Dolat Capital: Escorts Logs Healthy Q2 Growth, Stellar Margin Performance
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Dolat Capital Report
Escorts Ltd. reported strong all-round performance in Q2 FY21.
Ebitda jumped 137% YoY to Rs 3 billion with significant margin expansion at 18.3% (up 878 basis points YoY; up 708 basis points QoQ) on account of better mix (two third sales for 40HP and above tractor), softening of commodity prices and cost control measures.
The net revenue grew 24% YoY to Rs 16.4 billion led by 32.8% growth in agriculture machinery products and 26.4% growth in railway equipment, partially offset by 22% de-growth in the construction equipment segment.
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