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Decent results by Escorts; outlook improves on normal monsoon forecast

Nitin Agrawal   •

he company’s strong position in the domestic market and new products make us confident about its business. Further, its valuation -- 20.1 times FY24 projected earnings -- is at a reasonable level.

Escorts | CMP: Rs 1,554 | The scrip ended flat on May 13. Net profit was down 25.5% at Rs 202.2 crore against Rs 271.3 crore (YoY). Revenue of the firm also went down 15.8% at Rs 1,861.4 crore against Rs 2,210 crore (YoY).

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This Research Report / Research Recommendation has been published by Moneycontrol Dot Com India Limited (hereinafter referred to as “MCD”) which is a registered Investment Advisor under the Securities and Exchange Board of India (Investment Advisers) ...Read More