Riding High on Segmental Growth

1 Escorts CMP: 572.65  x PE: 17.24 *As on Oct 23rd, 2018   Riding High On Segmental Growth Company Is Well Positioned With New Products   One of India’s largest domestic tractor manufacturers Escorts had put up an impressive show for the first quarter of June, by posting a net profit growth of 93 per cent year-on-year (Y-o-Y). The growth was backed by robust segmental revenue across its three business segments. The company’s agri machinery (AM) segment grew by 25 per cent, construction equipment (CE) segment by 49.5 per cent and railway equipment division (RED) saw a rise of 35 per cent against last year. Escorts, which is mainly into manufacturing of equipment for agriculture, infrastructure and railway for domestic as well as international markets, has currently a 850 plus active dealer network under its EAM segment. In September the company launched its...