Escorts Q4 Review - Topline, Bottomline Prospects Dip: ICICI Direct
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ICICI Direct Report
Escorts Ltd. reported a steady operational performance in Q4 FY21.
Total operating income was at Rs 2,211 crore, up 60.1% YoY.
Within its segments, gross revenue from tractors was at Rs 1,739 crore (volumes up 62.1% YoY to 32,588 units, average selling prices up 1.9% QoQ to Rs 5.33 lakh/unit).
Gross revenue from construction equipment grew 53.3% YoY to Rs 322 crore while railway equipment division posted revenue growth of 35.6% YoY to Rs 146 crore.
Ebitda margin at 15.6% were down 245 basis points QoQ amid gross margin deterioration of 280 bps.
Tractor division Ebit margin fell 310 bps on to 17%.
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