Escorts gains over 2 per cent upon healthy sales

The shares of Escorts gained 2.7 per cent in the early trading hours of Monday after the company declared robust sales figures for the month of November 2018.

Escorts’ Agri Machinery (EAM) segment sold 8,005 tractors in November 2018 in comparison to 5,119 tractors sold in November 2017, thereby posting a growth of 56.4 per cent. The domestic tractor sales stood at 7,641 tractors in November 2018 versus 4,941 tractors in November 2017, registering a climb of 54.6 per cent. The exports stood at 364 tractors in November 2018 as against 178 tractors in November 2017, a growth of 104.5 per cent.

On a YTD basis, the domestic tractor sales rose to 65,000 units in FY19 from 51,958 units in FY18, marking an increase of 25.1 per cent. Similarly, the exports climbed to 1,678 units in FY19 from 1,285 units in FY18, thereby registering an increase of 30.6 per cent. The export figures are inclusive of sales in Nepal and Bhutan as well. Thus, on a total basis, the company sold 66,678 units in FY19 in comparison to 53,243 units sold in FY18, thereby registering a growth of 25.2 per cent.

On Monday, the shares of Escorts opened at Rs. 721.00 per share, and hit a high and low of Rs. 723.90 per share and Rs. 704.00 per share, respectively. At 10:27 am, the stock was trading at Rs. 713.65 per share, up 1.31 per cent.