Buy Escorts; target of Rs 2200: ICICI Direct

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26 Aug, 2025 12:21

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ICICI Direct's research report on Escorts

Escorts is India’s fourth largest tractor maker (11.3% FY21 market share) and also serves the domestic construction equipment, railways space. FY21 sales mix – tractors 82%, construction equipment 11%, railways 7% Past five year CAGR: 44.9%, 59.8% in EBITDA, PAT; cash positive b/s

Outlook

We retain BUY on Escorts amid Kubota joining the company as a copromoter, robust capital efficiency and net cash b/s We value Escorts at unchanged SOTP-based TP of Rs 2,200 (25x P/E on core FY23E-24E average EPS, 10% discount on treasury shares)

More Info on Trent

At 14:54 hrs Escorts was quoting at Rs 1,850.90, up Rs 3.85, or 0.21 percent.

It has touched an intraday high of Rs 1,861.55 and an intraday low of Rs 1,832.60.

It was trading with volumes of 20,758 shares, compared to its thirty day average of 20,227 shares, an increase of 2.62 percent.

In the previous trading session, the share closed down 0.52 percent or Rs 9.70 at Rs 1,847.05.

The share touched its 52-week high Rs 1,927.35 and 52-week low Rs 1,100.10 on 31 December, 2021 and 03 May, 2021, respectively.

Currently, it is trading 3.97 percent below its 52-week high and 68.25 percent above its 52-week low.

Market capitalisation stands at Rs 22,687.75 crore.

For all recommendations report, click here

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