Escorts Ltd Q4 PAT more than doubles to Rs265cr on profit boost from Agri-machinery

Escorts Ltd reported 60.85% yoy increase in consolidated sales revenues for the Mar-21 quarter at Rs2,228.75cr

May 14, 2021 03:05 IST India Infoline News Service

Escorts Tractor
Escorts Ltd reported 60.85% yoy increase in consolidated sales revenues for the Mar-21 quarter at Rs2,228.75cr. For the sequential quarter, the sales revenues were lower by -7.22% compared to the revenues of Rs2,402cr in the Dec-20 peak festive quarter.

The core business of Agri-machinery grew by 65% to Rs1,753cr in Mar-21 quarter while the construction equipment business was also up by 53% yoy at Rs322cr. The much smaller railway equipment business also recorded 36% yoy growth at Rs146.5cr.

The operating profit was up by 103.23% at Rs312.75cr and this was largely driven by a yoy growth of 82% in the EBITDA of the Agri-business vertical to Rs296cr.

Overall higher sales ensured much better absorption of fixed costs in the Mar-21 quarter as the operating margins also improved from 11.11% to 14.03% in the Mar-21 quarter.

The consolidated Profit after tax (PAT) for the Mar-21 quarter improved by 107.52% to Rs265.42cr. It was largely the operating benefits that trickled down to the bottom line. The net margins improved from 9.23% in Mar-20 quarter to 11.91% in the Mar-21 quarter. NPM was almost flat on a sequential basis.

Financial highlights for Mar-21 compared yoy and sequentially


Escorts Ltd
Rs in Crore Mar-21 Mar-20 YOY Dec-20 QOQ
Total Income (Rs cr) ₹ 2,228.75 ₹ 1,385.65 60.85% ₹ 2,402.23 -7.22%
Operating Profits (Rs cr) ₹ 312.75 ₹ 153.89 103.23% ₹ 330.77 -5.45%
Net Profit (Rs cr) ₹ 265.42 ₹ 127.90 107.52% ₹ 285.64 -7.08%
Diluted EPS (Rs) ₹ 26.96 ₹ 14.91 ₹ 29.17
Operating Margins 14.03% 11.11% 13.77%
Net Margins 11.91% 9.23% 11.89%

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