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Escorts Q4 PAT down 25% YoY to Rs 202 crore
13-May-22   16:05 Hrs IST

EBIDTA decreased by 29.4% to Rs 243.4 crore in Q4 FY22 from Rs 344.7 crore in Q4 FY21. EBIDTA margin was 13.1% in Q4 FY22 as against 15.6% in Q4 FY21.

Tractor volumes in Q4 FY22 stood at 21,895 units, down by 32.8% from 32,588 units sold in Q4 FY21.

Segmental revenue of Escorts Agri Machinery was Rs 1,363 crore in quarter ended March 2022, down by 21.6% as against Rs 1,738.8 crore recorded in corresponding quarter last year. EBIT margin for the segment was down to 15.5% in Q4 FY22 as compared to 17% in corresponding quarter previous year mainly due to steep inflation in commodities prices and lower sales volumes .

Construction equipment sales fell by 19.8% to 1,286 units in the quarter ended March 2022 from 1,604 units sold in the quarter ended March 2021.

Escorts Construction Equipment segment revenue degrew by 0.9% to Rs 319.1 crore in Q4 FY22 over Q4 FY21. EBIT margin for the segment was 3.6% in Q4 FY22 as against 7.3% in corresponding quarter previous year, mainly due to steep inflation in commodities prices and lower sales volumes.

For quarter ended March 2022, Railway Product Division revenue stood at Rs 172.8 crore, up by 18% from Rs 146.5 crore in corresponding quarter previous year. EBIT margin for the segment in Q4 FY22 came at 13.1% as against 19.1% in Q4 FY21. Order book for the division, as at end of March 2022, was more than Rs 440 crore.

Escorts recorded 12.4% fall in standalone net profit to Rs 765.6 crore on a 3.2% rise in revenue from operations to Rs 7,152.7 crore in FY22 over FY21.

The company's board has recommended final dividend of Rs 7 per share for the financial year 2021-22.

Nikhil Nanda, chairman and managing director, said: Agri sector is seeing some positive tailwinds. April industry growth of 41 % is a big booster of confidence. With prediction of normal monsoon and good news on crop prices and production, we hope this sector will continue to flourish. Construction & Railway sectors have also shown signs of improvement. With Government spending focus in these sectors, the situation shall only improve from here. Continued inflation is a big cause of worry, both in terms of suppressing potential demand as well as for ecosystem profitability.

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 scrip rose 0.30% to end at Rs 1556.40 on the BSE today.

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