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Escorts announces results of Q2 FY13

09 May, 2013

Escorts Ltd announced its reviewed financial results for second quarter and half year ended March, 31st 2013 at its recent Financial Result Committee.

The result summary is as follows:

  • PAT in H1FY13 up by 103% at Rs. 65.6 crore compared to Rs. 32.3 crore in H1FY12
  • EPS in H1FY13 up by 137% at Rs. 5.5 compared to Rs. 2.7 in H1FY12
  • Net sales in H1 FY13 down by 1.4% to Rs. 2028.8 crore compared to Rs. 2056.7 crore in H1FY12
  • EBITDA in H1 FY13 up by 31% at Rs. 107.3 crore compared to Rs. 81.6 crore in H1FY12

Commenting on the results, Mr. Rajan Nanda, Chairman & Managing Director, Escorts Limited, said, "Agriculture plays a vital role in driving the nation's economic growth. India is witnessing a rapid shift to entrepreneurial farming, where the farmer demands a product suited to his commerce. Escorts Ltd. has well placed its product offerings both in the cost efficient and premium segment to optimize its growth potential. Our strategic path is to synergize technology, products and processes to meet the emerging challenges and deliver value to all our stakeholders. The infrastructure sector holds out promise for the future. We see opportunity in bridging the demand supply gap in order for us to achieve over 8% GDP growth as outlined in the 12th five year plan."

Mr. Nikhil Nanda, Joint Managing Director, Escorts Limited, said: "We have significantly increased our operating margin with a sharp focus on cost discipline, inter function and group synergies and a diversified bouquet of products. Our mission is to deliver a high level of operational excellence by deploying frugal and lean work ethics and rationalizing our operations. Our focus and commitment remains on improving operating margins through effective management of capital employed, to achieve targeted bottom line growth."

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