Motilal Oswal's research report on Escorts
Escorts (ESC)’s 4QFY22 performance was decent considering lower volumes and cost inflation. However, near-term outlook has improved driven by strong crop pricing and expectation of a normal monsoon.
Outlook
We raise our FY23E EPS by 7.5% to factor in the improvement in nearterm outlook for tractors. Maintain Neutral with a TP of INR1,740.
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