Escorts Q3 Assessment – Finest Ever Profitability In Tractor; Railways But To Get well: Motilal Oswal
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The service of Escorts Ltd. The third quarter of fiscal 21 was consistent with strong profitability and after-tax earnings of over 80%.
This was spearheaded by strong tractor volumes, cheap mix and cost reduction initiatives.
While the demand outlook remains strong, the challenges in the supply chain are easing. Other companies are also showing signs of recovery.
We are increasing earnings per share for FY 21E by approximately 5%, taking into account volume and margin improvements, but retaining the EPS estimates for FY 22E / 23E.
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Motilal Oswal Escots Q3FY21 Result Update.pdf
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