Escorts Q4FY19 PAT jumped 8 per cent YoY

Escorts reported its results for the quarter ended March 31, 2019 on Tuesday during market hours.

The standalone revenue for the quarter Q4FY19 came in at Rs. 1631.66 crore as against Rs. 1436.1 crore in the corresponding quarter last year, registering 13.6 per cent yoy increase. Revenue from agri machinery, construction equipment and railway equipment grew by 12.5 per cent, 10.2 per cent and 36.1 per cent, respectively, on a YoY basis.

Under the agri machinery, tractor volumes were at 25,136, up by 6.7 per cent and EBIT margin for Q4FY19 stood at 13.1 per cent vs 15.1 per cent in Q4FY18. Under the construction equipment, volumes stood at 1,455, down by 5.6 per cent and EBIT margin stood at 7.1 per cent vs 5.1  per cent in Q4FY18. Under the railway equipment, current order book stood at Rs. 490 crore, which will be executed in the next 14-15 months.

The EBITDA for the quarter increased by 9.2 per cent yoy to Rs. 189.77 crore as against Rs. 173.74 crore in the corresponding quarter last year, with a corresponding margin contraction of 47 bps. EBITDA margin for the quarter stood at 11.6 per cent.

The PAT for the quarter came in at Rs. 121.35 crore as against Rs. 112.54 crore in the corresponding quarter last year, an increase of 8 per cent yoy.

Looking at the full year numbers for FY19, the revenue jumped by 24 per cent to Rs. 6196.36 crore, while EBITDA rose by 32 per cent to 733.29 crore. Further, the company reported net profit of Rs.484.91 crore, up 41 per cent yoy.

The company's board of directors has recommended a final dividend of Rs 2.5 on the face value of Rs. 10 each.

Today, the stock opened at Rs. 668.35 and made an intra-day low of Rs. 641.85 and finally closed at Rs. 645 on the BSE.