Escorts in focus, a lots of tailwinds for the company. They reported very strong tractor sales in January. The other positive is the big push for agriculture in the Union Budget and Q3 numbers which stood fairly strong. In an interview to CNBC-TV18, Bharat Madan, CFO of Escorts spoke about the results and his outlook for the company.
October sales for Escorts were above estimates while Q2 earnings met street estimates. In an interview to CNBC-TV18, Bharat Madan, CFO of Escorts shared his views and readings on the same.
Escorts saw a healthy set of Q1 earnings as revenue growth at 11 percent was a strong beat while margins were a tad above estimates. In an interview to CNBC-TV18, Bharat Madan, CFO of Escorts spoke about the results and his outlook for the company.
Escorts has just released tractor sales this morning and seen a 17 percent dip year-on-year. In an interview to CNBC-TV18, Bharat Madan, CFO of Escorts said that the dip is due to de-stocking for goods and services tax (GST).
Watch the interview of Kiran Mazumdar-Shaw, CMD of Biocon, Rakesh Biyani, Joint MD at Future Retail, Gnanesh Gala of Navneet Education, Harsh Mariwala of Marico, Bharat Madan, Group CFO at Escorts and KU Subbiah, CFO, VST Tillers Tractors in which they shared their views on how goods and services tax (GST) will impact businesses across the country.
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.
On the side-lines of AIMA's event in Delhi, Ashpreet Sethi of CNBC-TV18 caught up with Pawan Munjal, MD of Hero Motocorp and Anil Rai Gupta of Havells India.
In an interview to CNBC-TV18, Bharat Madan, CFO of Escorts said that they expect the growth to be better next year.
Government impetus on construction equipment, railways and agriculture in the Budget will keep Escorts' growth trajectory going for the next 2-3 years, says CFO Bharat Madan.
Speaking to CNBC-TV-18, Bharat Madan, Group Financial Controller of leading engineering conglomerate Escorts, said that a revival was witnessed in December as tractor sales beat estimates.
In an interview with CNBC-TV18 Nikhil Nanda said that the company is at an inflection point and sees rapid growth in the coming years.
Speaking to CNBC-TV18, Bharat Madan, Group Financial Controller of Escorts said that retail numbers at all-time high of over 13,000 units.
While the strong sales number posted by Escorts in September was largely due to pre-festival exuberance, industry growth has also been fairly good for the last 5-6 months, says Bharat Madan, Group Financial Controller at Escorts.
Escorts will now focus on core agriculture (tractors), construction and railways businesses says Managing Director Nikhil Nanda speaking to CNBC-TV18 after the company announced divestment of its automobile parts business.
Escorts today said that it will be divesting its OEM and export business of auto product division to Badve Engineering Ltd, Pune in an all cash deal.
The tractor sales of Escorts peaked in FY14, when it sold around 69,000 tractors. Madan feels this year the company may report similar numbers. It has sold close to 16,300 tractors in the first quarter.
Bharat Madan, Group Financial Controller, Escorts is confident of the company clocking a run rate of 5000 units per month for this fiscal year.
While growth in northern market has been tepid, southern markets have been growing phenomenally, says Ravi Menon, CEO of Agri Machinery, Escorts.
Tractor margins are expected to be at 8-9 percent in FY17, says Bharat Madan, Group Financial Controller, Escorts.
Following the rating upgrade on short term credit as well, the company plans to launch a commercial paper shortly, says Bharat Madan, Group Financial Controller of Escorts
Engineering and farm equipment major Escorts on Tuesday reported a 42.57 percent dip in its standalone net profit at Rs 20.49 crore for the third quarter ended December 31, 2015.
Bharat Madan, Group Financial Controller of Escorts, in an interview with CNBC-TV18 said that there will be an improvement in volumes for the month of January and February 2016.
In an interview with CNBC-TV18, Bharat Madan, Group Financial Controller at Escorts says volume growth to remain low in the current quarter due to insufficient monsoon.
In an interview with CNBC-TV18, Bharat Madan, Group Financial Controller at Escorts said the third quarter will be bumper with festival season on and adequate rainfall.
Escorts posted a 21.5 percent decline in its third quarter net profit to Rs 35.7 crore impacted by lower revenue and operating income in tractor business.