Escorts bets on agri business division to drive overall performance in FY21
3rd Aug 2020

Escorts is expecting to do comparatively better this fiscal than last year, driven by its agri-business division despite the impact of the coronavirus pandemic. With strong demand for tractors continuing from rural markets, the company is optimistic that in spite of the supply-side constraints witnessed in the first quarter of this fiscal, it would be able to catch up in the remaining months to post better than industry sales, which is expected to rise by single digit.

In the first quarter of the fiscal, despite the supply-side constraints due to lockdown the company was able to enhance its market share in the tractor segment. It had sold 18,150 tractors in the quarter ended June 30 as against 21,051 tractors in the corresponding period last fiscal.

Escorts offer a comprehensive range of tractors with more than 45 variants starting from 25 to 80 HP. The company also manufactures and markets a diverse range of equipments like cranes, loaders, vibratory rollers and forklifts.