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Escorts Ltd.

BSE: 500495 | NSE: ESCORTS |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE042A01014 | SECTOR: Auto - Tractors

BSE Live

Sep 16, 16:00
1451.35 -13.50 (-0.92%)
Volume
AVERAGE VOLUME
5-Day
187,383
10-Day
136,083
30-Day
128,421
62,889
  • Prev. Close

    1464.85

  • Open Price

    1468.00

  • Bid Price (Qty.)

    1444.00 (10)

  • Offer Price (Qty.)

    1448.00 (85)

NSE Live

Sep 16, 15:56
1447.85 -17.95 (-1.22%)
Volume
AVERAGE VOLUME
5-Day
1,589,183
10-Day
1,593,966
30-Day
1,992,171
857,620
  • Prev. Close

    1465.80

  • Open Price

    1466.20

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    1447.85 (1098)

Annual Report

For Year :
2019 2018 2017 2016 2015 2014 2012 2011 2010

Chairman's Speech

Dear Shareholders, We all are experiencing highly changing and challenging times like never before. Adapting to such changing scenario and responding fast and effective to the challenges are the keys to success. With our firm belief in creating long term value, we have successfully stood up to the situation and it is a pleasure sharing with you that we have had a healthy year of business recovery, reiterating the capability of your company. Concerted efforts by us to unleash our potential and turnaround the Company have paid rich dividends. Our resurgence can be attributed to a host of initiatives like reinforced focus on core businesses, expansion of our production capacity and product portfolio, widening of our geographical reach, continued concentration on fiscal discipline and innovative management principles. But more importantly, we are building structures for collaborations across functions, empowering employees to offer faster and better customer satisfaction. We are building a corporate culture that encourages and supports performance and leadership. Systems and processes are being continuously evaluated to establish best in class practices in our operations. Keeping pace with changing times, we have brought in new ideas and new competencies into our operations. We have infused highly experienced and competent new talent into the organization. In the midst of a modern day knowledge economy, we are laying increasingly greater emphasis on Knowledge Management to help us innovate and lead the market of future. In today's Global Market place we have to be Globally Competitive for which we aim to Excel. We know that in the years to come our domestic market alone cannot accommodate the growth we are looking for. The mandate is clear: to spruce up share of exports in our businesses. Today, farming practices are being made commercial with increased government support. Lip-gradation of infrastructure and easier availability of complementary facilities are making a difference. Private capital with enterprise is creating the front end of market with opening of retail outlets. All these will culminate in the farmers' prosperity which will have a direct impact on their enhanced investments in tractors and farm mechanisation equipment. The growth of Agri economy provides substantial opportunity for your Company's growth. Indian Railways is on a modernisation spree with a focus to increase freight and passenger capacity, run faster and safer trains. Escorts is a major manufacturer and supplier of equipments to Railways including brakes, couplers, suspension products, rail fastening systems, composite brake blocks and vulcanized rubber parts, all essential upgrades the rolling stock would require. With our new manufacturing plant set up at Rudrapur, in addition to capacity enhancement, we will also be substantially adding to our existing product portfolio. In the domestic market, we are witnessing a fast growing automotive sector and with it the rising demand for Auto Suspension Products. This sector is on a steep growth path and is expected to further grow in the coming years. Apart from meeting the growing domestic demand, a substantial export market development will provide us with growing revenues in this business. A spectacular boom is taking place in real estate development and expansion in industrial investment. Both the sectors have a high dependency on material handling equipment like cranes, forklifts and loaders. Your subsidiary company Escorts Construction Equipment Limited (ECEL) has an established product range of such equipment. The government's focus has also resulted in an accelerated pace in the roads and buildings construction, nationwide. There is a surge in the demand for road compaction machines for which ECEL is rightly placed. With the right product mix for the sector, ECEL is comfortably placed with a healthy order book. To effectively meet the demand, ECEL is setting up a large manufacturing facility in Ballabgarh (Haryana) which will be completed in 12 months. With a lean cost structure, focused lines of business and all out efforts to make the best of people and processes, Escorts seems to be well poised for exciting days ahead. We are confident that all our initiatives will be instrumental for us to regain a leadership position in our areas of operation. But changes of the magnitude we are looking at will require substantial efforts on our part and continued faith of yours. Our determination and your continued support give us the optimism to take the organisation to a new altitude of business efficiency. We are extremely grateful to you, dear shareholders, for your continued faith in us. The future looks bright and promising and it is with the hallmark of a leader that we humbly take up the challenge to surpass your expectations. My sincere thanks to our employees, who are the real source of our prowess and our growing inspiration, to the members of the Board for their advice and guidance and to all our customers, partners and well-wishers who have been with us all along and have provided us with their valuable advice and cooperation all these years. Rajan Nanda Chairman and Managing Director