ICICI Direct: Escorts’ All-Round Optimism Bolsters Constructive View
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ICICI Direct Report
Escorts Ltd. reported stellar Q2 FY21 results. Total operating income for Q2 FY21 came in at Rs 1,640 crore, up 24% YoY.
Within its segments, gross revenue from agriculture equipment machinery, tractors were at Rs 1,322 crore (volumes up 23.8% to 24,441 units, average selling prices up 7.7% YoY to Rs 5.4 lakh per unit).
Gross revenue from construction equipment de-grew 22% YoY to Rs 157 crore (volumes down 13% YoY to 821 units) while railway equipment division revenues grew 26.4% YoY to Rs 160 crore.
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