ICICI Direct: Escorts’ All-Round Optimism Bolsters Constructive View
Bikes are parked next to a tractor laden with cattle feed at a farm in Karnal district, Haryana, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

ICICI Direct: Escorts’ All-Round Optimism Bolsters Constructive View

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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.

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.

Click on the attachment to read the full report:

ICICI Direct Escorts Q2FY21 Result Update.pdf

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