Escorts Kubota Ltd. share price target

We recently met CFO of Escorts Ltd. (EL), which is the fourth-largest player in the tractor segment in India (after Mahindra & Mahindra Ltd, Tractors and Farm Equipment Ltd. and Interactional Tractors Limited) with a market share of 11%. The Farm Equipment (EFE) division which contributes 79% to the top line, offers a wide range of tractors - 10-75HP - primarily under the Farmtrac, Powertrac and Steeltrac brands. Construction and material handling equipment (15% of revenue) and railway equipment (6% of revenue) are other businesses that company operates....

We recently met CFO of Escorts Ltd. (EL), which is the fourth-largest player in the tractor segment in India (after Mahindra & Mahindra Ltd, Tractors and Farm Equipment Ltd. and Interactional Tractors Limited) with a market share of 11%. The Farm Equipment (EFE) division which contributes 79% to the top line, offers a wide range of tractors - 10-75HP - primarily under the Farmtrac, Powertrac and Steeltrac brands. Construction and material handling equipment (15% of revenue) and railway equipment (6% of revenue) are other businesses that company operates....

Domestic tractor volumes in Q2FY19 stood at 20,553 units as against 19,817 units in Q2FY18, an increase of 4% Y-o-Y. Export volumes decreased from 541 units in Q2FY18 to 486 units in Q2FY19. Avg. realization during the quarter stood at...

ICICI Securities Ltd | Retail Equity Research Escorts reported a decent set of Q2FY19 numbers. Revenues were at | 1398 crore, up 15.4% YoY, down 7.5% QoQ. Its core tractor segment reported subdued revenue growth but its other segments reported strong growth. Revenue from agri machinery (EAM) grew 7.2% YoY to | 1,043 crore (volume up 3.4% YoY to 21,039 units & ASP grew 3.8% YoY). Revenue from the construction equipment grew 50.8% YoY to | 249 crore (volume up 36.9% YoY to 1,331...

Escorts (ESC) has delivered a healthy performance across parameters in 2QFY19 with betterthan-expected operating margin across business segments despite a challenging business environment. Its revenue, EBIDTA and adjusted PAT grew by 15%, 12% and 25% YoY, while sequentially declining by 8%, 15% and 14% (due to seasonality) to Rs13.98bn, Rs1.58bn and Rs1.03bn vs. our estimate of Rs13.1bn, Rs1.44bn and Rs0.96bn, respectively. Its EBIDTA margin fell by 37bps YoY and 101bps QoQ to 11.3% (vs. our estimate of 11%). While tractor volume grew by just 3.3% YoY, volume of construction equipment and revenue from railway segment rose by a strong 37% YoY and 45% YoY, respectively. Its RM/sales increased by 81bps YoY (-12bps QoQ) to 67.5%, while other expenses/sales rose by 102bps YoY and 106bps QoQ to 13.2%. Its...

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The Escorts Group is an Indian engineering company that operates in the sectors of agri-machinery, construction and material handling equipment, and railway equipment. The company manufactures tractors under the brand names of Farmtrac, Powertrac, and Steeltrac. Escorts Construction Equipment manufactures and markets construction and material handling equipment like pick and carry cranes, backhoe loader, vibratory rollers, and forklifts. Railway Equipment Division manufactures and supplies critical railway components such as air brake system, EP brake system, draft gears and couplers, composition brake blocks, dampers and...

Sector: Commercial Vehicles /Mid-Cap | Earnings Update 1QFY19 Background: Escorts Ltd (ESC) is one of India's prominent players in the Automotive / Tractor industry, with an overall market share of 10.4% in the domestic tractor industry. ESC is also present in construction and material handling equipment, such as cranes, compactors and forklifts with 55% market share in material handling segment. Revenues share by segment in: Agri machinery (81.0 %), Constriction equipment (13%), and Railway...

Escorts Ltd (EL) is the third largest Agricultural tractor manufacturer in India. It has a strong presence in the north and west market, with an overall market share of 11% as on FY18. Revenue for the Q1FY19 grew by 32%YoY led by highest quarterly growth of 39%YoY in the tractor sales & 52%YoY from the construction business. EBITDA margins expanded 370bpsYoY driven by higher sales, price hike, and cost control indicatives. Adj. PAT grew by 90%YoY. Normal monsoon and more state subsidiary for doubling the agricultural...