Escorts Q3 Review - Best Ever Profitability In Tractor; Railways Yet To Recover: Motilal Oswal
Workers on a tractor travel along a road. (Photographer: Dhiraj Singh/Bloomberg)

Escorts Q3 Review - Best Ever Profitability In Tractor; Railways Yet To Recover: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Escorts Ltd.’s Q3 FY21 performance was in-line, with strong profitability and over 80% profit after tax growth.

This was led by strong tractor volumes, a favorable mix, and cost-cutting initiatives.

While the demand outlook remains strong, supply chain challenges are easing. Also, other businesses are showing signs of recovery.

We upgrade FY21E earning per share by approximately 5%, factoring in volume and margin upgrades, but we maintain FY22E/FY23E EPS estimates.

Click on the attachment to read the full report:

Motilal Oswal Escots Q3FY21 Result Update.pdf

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