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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

Oct 25, 16:00
1494.00 27.30 (1.86%)
Volume
AVERAGE VOLUME
5-Day
91,277
10-Day
76,562
30-Day
105,460
119,027
  • Prev. Close

    1466.70

  • Open Price

    1485.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Oct 25, 15:59
1495.10 31.80 (2.17%)
Volume
AVERAGE VOLUME
5-Day
1,291,622
10-Day
1,154,755
30-Day
1,395,536
900,150
  • Prev. Close

    1463.30

  • Open Price

    1475.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    1495.10 (1753)

Annual Report

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

Chairman's Speech

Dear shareholders, I have always believed that companies which successfully address and alleviate some of the most genuine pressures of a society and a nation with futuristic products and solutions create enduring value. The era that we live in today is a testament of this conviction. By virtue of our engagement in the core sectors of the economy - agriculture, infrastructure and construction and the railways, our businesses make a unique contribution to the growth and development aspirations of the nation. In line with our focus on creating enduring value for the country, we have converged our efforts on creating an enterprise that is agile, responsive, dynamic and determined. In essence, future-ready. The forecast of above-average and spatially-distributed monsoons in the current year is expected to drive revival of farm incomes, spur economic growth, lower inflationary pressures and boost the overall rural demand across various consumption categories. As optimism sweeps across India''s vast agricultural landscape, we are witnessing a certain perceptible degree of uniformity with the growing recognition of mechanisation among the farmer community as the only way forward towards enhancing crop yields. In no small measure is this revolution being fostered by educated and progressive farmers who are aware of the cutting-edge global developments in agri-economics and are also keen to leverage scientific best practices with a view to drive more crop per unit of the available land. They are increasingly looking at technology and mechanisation to enhance stability and derive risk-mitigated outcomes in a sector that is dependent on one core anchor - good monsoons. Besides, with small agricultural land holdings, peripheral farmers also see technology as the emerging de-facto for crop transplantation and harvest, especially in the face of risks emanating out of expensive labour or worker shortages. Relevantly so, at Escorts, we are bringing forth cutting-edge technology that enhances agri- economics. Our world-class products help foster mechanisation across farms, positively impacting the lives at the grassroots. As a Company that is connected through a vibrant social network with the agricultural ecosystem, we nurture long-term relationships with our dealers and customers, anchored on mutual trust, sensitivity and respect. At Escorts, we also see the country''s infrastructure and construction industry at an attractive inflection point, based on the Government''s renewed focus on developing Smart Cities and other growth-stimulating infrastructure. This thrust can be a major driver of economic transformation, helping restore the growth momentum of our construction equipment business that comprises a range of world-class efficiency-enhancing equipment. The Indian Railways is poised to be a big investment driver with its own Five-Year Plan that envisages a massive capital outlay. This will inevitably throw up huge opportunities for companies like ours that have demonstrated capabilities in cutting-edge and highly- compliant ride-control products, strong multi-year relationships and robust product development cycles. To an attractively emerging macro-industry landscape, we have brought our continued signature focus on reinforcing the foundations of our organisation. Underlining our vision to achieve cost leadership, we converged our various global-class engineering programs and practices under Project Shikhar that aspires to drive a three-pronged result - reduce material costs, build a lean and dynamic supplier base and moderate inventory in a bid to liberate working capital. Through our ongoing efforts, during 2015-16, we achieved robust cost economies that provide us with levers to further draw down on our material and operational costs. We also sharpened our focus on productivity that resulted in strategic manpower optimisation, enabling us to right-size the organisation. These initiatives are helping lower breakeven, enabling momentum in profitability accretion. Your Company is also engaged with global experts and consultants to help us develop progressive systems and processes towards enhancing customer interaction with our brands and capture value across the chain through lowering costs and boosting revenues. With the Indian Government''s focus on building human resource capacities and capabilities, reflected in its Skill India mission, our Corporate Social Responsibility initiatives under the Escorts Skill Development Centre are actively contributing to skills development and employment generation. Our unwavering focus with the customer at the pivot, robust intellectual pool, extensive use of technology, pan-India distribution channels and a comprehensive product suite across divisions are some of the Company''s key strengths that will enable us to remain at the forefront of growth. Going into 2016-17, we will continue to strive to set higher benchmarks of performance and strengthen our engagement with our stakeholders. We are future-ready to capitalise on the opportunities emerging out of the India of tomorrow that will be very different from the India of today. With my best wishes, Rajan Nanda Chairman and Managing Director