Escorts Ltd reported 23.76% growth in gross revenues for the Dec-20 quarter on consolidated basis at Rs2,042.23cr. The biggest segment of Escorts consisting of tractors and agri-machinery grew by over 27% while construction equipment division also saw growth. However, due to the lockdown, the railway equipment saw a fall, albeit small.
For the Dec-20 quarter, the consolidated operating profits were up 78.13% at Rs330.77cr. The operating profits improved on the back of smarter inventory management leading to lower funds locked up in working capital. OPM expanded sharply from 11.25% in the Dec-19 quarter to 16.20% in Dec-20 quarter.
The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 85.04% at Rs286.42cr on the back of the transmission of operational advantages to the bottom line which compensated for the higher tax burden in the current quarter. PAT margins also improved from 9.38% in the Dec-19 quarter to 14.02% in the Dec-20 quarter.
Financial highlights for Dec-20 compared yoy and sequentially
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Escorts Ltd |
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Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
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Total Income (Rs cr) |
₹ 2,042.23 |
₹ 1,650.22 |
23.76% |
₹ 1,654.18 |
23.46% |
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Operating Profit (Rs cr) |
₹ 330.77 |
₹ 185.69 |
78.13% |
₹ 270.06 |
22.48% |
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Net Profit (Rs cr) |
₹ 286.42 |
₹ 154.79 |
85.04% |
₹ 227.22 |
26.05% |
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Diluted EPS (Rs) |
₹ 29.17 |
₹ 18.05 |
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₹ 23.60 |
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OPM |
16.20% |
11.25% |
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16.33% |
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Net Margins |
14.02% |
9.38% |
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13.74% |
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