InvestorQ : Why did Escorts move up sharply on 15 May?
Deepa Salunkhe made post

Why did Escorts move up sharply on 15 May?

Juvina Maggie answered.
1 year ago

Escorts moved up by 5% on Friday 15 May after the company delivered strong operating performance in Mar-20 quarter. EBITDA was up by 2.5% at Rs.194 crore while EBITDA margin stood at 12.1%. Revenues were lower by 15% at Rs.1380 crore. There were quite a few triggers for the good performance at Escorts. A good harvest, increased procurement by respective governments and their focussed support to farming & prediction of good monsoon will enable quick revival across farm ecosystem. The management is optimistic for the coming quarters and expects a sharp rebound in tractor demand. Overall rural sentiments are positive due to the record output of Rabi crop and a favourable monsoon projection for the year. Escorts also expects pent-up demand coming from the lockdown period.