Escorts Ltd Q4 PAT more than doubles to Rs265cr on profit boost from Agri-machinery -

Escorts Ltd Q4 PAT more than doubles to Rs265cr on profit boost from Agri-machinery



Escorts Tractor
Escorts Ltd reported 60.85% yoy increase in consolidated sales revenues for the Mar-21 quarter at Rs2,228.75cr. For the sequential quarter, the sales revenues were lower by -7.22% compared to the revenues of Rs2,402cr in the Dec-20 peak festive quarter.


The core business of Agri-machinery grew by 65% to Rs1,753cr in Mar-21 quarter while the construction equipment business was also up by 53% yoy at Rs322cr. The much smaller railway equipment business also recorded 36% yoy growth at Rs146.5cr.


The operating profit was up by 103.23% at Rs312.75cr and this was largely driven by a yoy growth of 82% in the EBITDA of the Agri-business vertical to Rs296cr.


Overall higher sales ensured much better absorption of fixed costs in the Mar-21 quarter as the operating margins also improved from 11.11% to 14.03% in the Mar-21 quarter.


The consolidated Profit after tax (PAT) for the Mar-21 quarter improved by 107.52% to Rs265.42cr. It was largely the operating benefits that trickled down to the bottom line. The net margins improved from 9.23% in Mar-20 quarter to 11.91% in the Mar-21 quarter. NPM was almost flat on a sequential basis.


Financial highlights for Mar-21 compared yoy and sequentially











Escorts Ltd

Rs in Crore

Mar-21

Mar-20

YOY

Dec-20

QOQ

Total Income (Rs cr)

₹ 2,228.75

₹ 1,385.65

60.85%

₹ 2,402.23

-7.22%

Operating Profits (Rs cr)

₹ 312.75

₹ 153.89

103.23%

₹ 330.77

-5.45%

Net Profit (Rs cr)

₹ 265.42

₹ 127.90

107.52%

₹ 285.64

-7.08%

Diluted EPS (Rs)

₹ 26.96

₹ 14.91

₹ 29.17

Operating Margins

14.03%

11.11%

13.77%

Net Margins

11.91%

9.23%

11.89%

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