Escorts continues its unabated growth with strong performances in the second consecutive quarter ended March 2007 (FY January 07- September 2007). Moving ahead as per its chalked out resurgence program, the company’s production and sales volumes have gone up considerably (sales volume of tractors up 24% at 14,795 from 11,970 in the corresponding quarter of previous year).

As a result, the company has posted a 32 per cent rise in turnover at Rs.574 cr in the quarter ended March 2007 as compared to Rs.435 cr in previous year. PBIDTA is at Rs.44.61 cr, up 31% as compared to Rs.34.22 cr in corresponding quarter previous year. The company has recorded a cash profit of Rs.22.81 cr during the quarter as compared to Rs.14.56 cr in the same period of previous year. The profit after tax is at Rs.6.71 cr compared to loss of Rs.16.18 cr for same period previous year.

Commenting on the growth plans Mr. Rajan Nanda, Chairman, said, “We have laid great emphasis on improvement, innovation and effective execution of our offerings which are improving business economics. Having aligned ourselves to some of the fastest growing sectors of recent times, we are substantially adding to our existing product portfolio in all our businesses of agri-machinery, railway equipment and auto components to cater to various niche markets”

Mr. Nanada further added, “To accommodate its ambitious growth plans, the company is looking at raising equity for retiring its remaining debts as the interest cost has become dearer and also to meet its growth capital for expansion. With continued emphasis on core business lines, we have all the reason to look at the future with renewed energy and confidence.”

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About Escorts Limited

Escorts Limited is a leading manufacturer and supplier of Agri Machinery Products, Auto Suspension and Ancillary Products and Railway Equipment. Its broad product portfolio includes:

• Agri Machinery Products
  • Tractors
  • Industrial Engines
  • Spare parts and Components of Axles and Transmissions
• Auto Suspension / Ancillary Products
  • Shock Absorbers
  • Telescopic Front Forks
  • McPherson Struts
• Railway Equipment
  • Shock Absorbers for Rolling Stock
  • Couplers - Semi permanent and Automatic
  • Braking systems - Vacuum, Air and Electro-Pneumatic
  • Composite Brake Blocks

For further information, please contact:
Sampark Public Relations Soumitra Patnaik
Rajat Chandihok/Varun Chopra Head – Corporate Communication
Tel: 011-41731526-8 Tel: 0129 - 2250222
M: 9810175728/9811241427 M: 9818644841
Email – rajat@sampark.com, varun@sampark.com / Email –soumitra.patnaik@escortscorporate.com