loader2
Login Open ICICI 3-in-1 Account

Entry Price

1,400.00

Target

1,500.00

Recommend Date

03-02-2021

Return

7.14 %
BUY

Date : 03-02-2021

Escorts reported robust Q3FY21 results. Total operating income for Q3FY21 came in at | 2,017 crore, up 23.5% YoY tracking 25.7% YoY growth in tractor volumes to 31,562 units. Within segments, gross revenue from tractors was at | 1,653 crore (up 28% YoY) while construction equipment (CE) revenues grew 13% YoY to | 245 crore) and railway equipment division (RED) reported 5.7% YoY revenue decline to | 117 crore. EBITDA margins came in at 18% (down 30 bps QoQ), with savings in employee costs and other expenses nearly negating gross margin contraction. Consequent standalone PAT in Q3FY21 came in at | 280.6 crore, up 83.3% YoY.