Escorts saw strong sales growth in many as improved monsoon outlook boosted tractor sales. In an interview to CNBC-TV18, Bharat Madan, CFO of Escorts spoke about the latest happenings in his company and sector.
We have seen 15 percent volume growth in April and May, he said.
Expect 12-15 percent volume growth in FY18, he added.
According to him, a temporary demand deferral due to goods and services tax (GST) may happen.
However, overall sentiment on the ground remains strong and industry should deliver double-digit growth, said Madan.
He sees tractor industry growing at 10-12 percent and Escorts will perform slightly better than that.
Watch accompanying video for more details.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
