Escorts Q3 Review - In-Line With Estimates; Rising Inventory, Input Cost Are Key Headwinds: Dolat Capital  

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Dolat Capital Report

Escorts Ltd. reported strong all-round performance in Q3 FY21.

Ebitda jumped 72% YoY to Rs 3.64 billion with significant margin expansion at 18% (up 505 basis points YoY) on account of better mix and cost control measures.

The net revenue grew 24% YoY to Rs 20.17 billion led by 28% growth in agriculture machinery products, 13% growth in construction equipment offset by 6% de-growth in railway equipment segment.

Management stated that the overall rural sentiment is positive because of strong rabi sowing and easy availability of retail finance.

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