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Escorts Share Q4 Results - Escorts Share Price History | Invest Yadnya

Escorts Q4 results

Published on 30 June 2021 Views 106 Comments 0
  • Domestic market share in Q4FY21 was at 12.9%, which reduced (13 bps) from 13.1% market share in Q4FY20.

  • Revenue from operations in Q4FY21 stood at Rs. 2210.5 crore as compared to Rs. 1380.7 crore Q4FY20, a growth of 60.1%.

  • EBITDA stood at Rs. 344.7 crore in Q4FY21 as compared to Rs. 194.4 crore in Q4FY20, a growth of 77.3%.

  • EBITDA margin stood at 15.6% in Q4FY21 as compared to 14.1% in Q4FY20.

  • PAT grew 93.2% to Rs. 271.3 crore in Q4FY21 from Rs. 140.4 crore in Q4FY20.

  • PAT margin increased to 12.3% in Q4FY21 from 10.2% in Q4FY20.

Consolidated Q4FY21 results: Escorts Share Price

  • Revenue from operations in Q4FY21 stood at Rs. 2228.8 crore as compared to Rs. 1385.7 crore Q4FY20, a growth of 60.8%.

  • EBITDA stood at Rs. 343.8 crore and compared to Rs. 182.1 crore in Q4FY20, a growth of 88.8%.

  • EBITDA margin stood at 15.4% as compared to 13.1% in Q4FY20.

  • PBT grew by 93.2% to Rs. 346 crore in Q4FY21 from Rs. 179.2 crore in Q4FY20.

  • PAT grew 107.8% to Rs. 265.4 crore in Q4FY21 from Rs. 127.7 crore in Q4FY20.

Q4FY21 Highlights: Escorts Finance Share Price

  • The tractor volume stood at 32,588 units which is an increase of 62.1% in Q4FY20. Construction division volumes increased by 62.7% to 1,604 units as compared to Q4FY20. Railway Equipment sales were up by 24.8% from Q4FY20 numbers.

  • The company had the advantage of operating leverage in construction and railway equipment divisions, leading to positive results.

  • The company was also affected by the adverse rise in commodity prices.

  • There were some positive developments in the Construction Equipment division & Railway Equipment division in Q4FY21. However, the company expects to see the impact of the current environment in upcoming quarters.

Standalone FY21 results

  • Domestic market share in FY21 was at 11.3%, which reduced (28 bps) from 11.6% market share in FY20.

  • Revenue from operations in FY21 stood at Rs. 6929.3 crore as compared to Rs. 5761 crore FY20, a growth of 20.3%.

  • EBITDA stood at Rs. 1129.3 crore in FY21 and compared to Rs. 675.8 crore in FY20, a growth of 67.1%.

  • EBITDA margin stood at 16.3% in FY21 as compared to 11.7% in FY20.

  • PAT grew 80.8% to Rs. 874.1 crore in FY21 from Rs. 485.5 crore in FY20.

  • PAT margin increased to 12.6% in FY21 from 8.2% in FY20.

Consolidated FY21 results

  • Revenue from operations in FY21 stood at Rs. 7014.4 crore as compared to 5810.1 Q4FY20, a growth of 20.7%.

  • EBITDA stood at Rs. 1126.8 crore in FY21 as compared to Rs. 662.4 crore in FY20, a growth of 70.1%.

  • EBITDA margin stood at 16.1% in FY21 as compared to 11.4% in FY20.

  • PBT grew by 84.7% to Rs. 1154.8 crore in FY21 from Rs. 625.3 crore in FY20.

  • PAT grew 84.8% to Rs. 871.6 crore in FY21 from Rs. 471.7 crore in FY20.

FY21 highlights: Escorts Share Price History

  • Tractor volume stood at 1,06,741. A growth of 24.1% from FY20.

  • Escort Construction equipment business posted volumes of 3,913, which is declining (3.2) from FY20.

  • Railway equipment division sales stood at Rs. 479 crore, which is a small increase of 0.4% from FY20 numbers.

Escorts Agri Machinery

  • FY21 volume for the Agri Machinery segment stood at 1,06,741 units compared to FY20 volumes of 86,018 units, a growth of 24%.

  • FY21 revenue: Rs. 5,667.3 crore. A growth of 27% as compared to FY20 revenue: Rs. 4437.6 crore.

  • The growth in this segment was due to operating leverage, favourable product mix & cost efficiencies.

  • The segment also posted the highest ever EBIT margins at 18.2% in FY21 compared to the FY20 EBIT margin of 13%.

  • Q4FY21 volumes stood at 32,588 units as compared to 20,108 units in Q4FY20.

  • Q4FY21 revenue for Agri Machinery stood at Rs. 1738.8 crore, a growth of 64.3% from Q4FY20 revenue of Rs. 1058.4 crore.

Escorts Construction Equipment

  • Volume for the Construction Equipment division stood at 3,913 units in FY21 compared to 4,402 units in FY20.

  • Revenue for the division in FY21 stood at Rs. 776.1 crore as compared to Rs. 839.8 crore in FY20. EBIT margin for FY21 is 3.6%.

  • Q4FY21 volumes stood at 1,604 units, up 62.7% in Q4FY20 volumes of 986 units.

  • Revenue in Q4FY21 stood at Rs. 322 crore, which is a growth of 53.3% from revenue of Rs. 210 crore in Q4FY20.

  • Q4FY21 EBIT margin stood at 7.3% compared to Q4FY20 EBIT margin of 4.3%.

Railway Equipment Division

  • FY21 revenue for railway division stood at Rs. 479 crore compared to FY20 revenue of Rs. 477 crores.

  • Sales from new products grew by 52.9% in FY20-21.

  • EBIT margin for FY21 is 16.0% as compared to FY20 EBIT margin of 18%.

  • The company stated that Indian Railways are not running its full operations of passenger trains.

  • Q4FY21 revenue stood at Rs. 146.5 crore, up 35.6% as compared to Q4FY20 revenue of Rs. 108 crore.

  • EBIT margin in Q4FY21 was 19.1% compared to Q4FY20 margin of 14.1%.

  • Order book stood at more than Rs. 340 crore at the end of Mar 31. This order book will get executed in 6-8 months.

Management commentary

  • The second wave of COVID has affected the rural geographies, which is the company’s core customer base.

  • Escort and its sector proved resilient in the first wave; the company hopes to come out of the second wave similarly.

  • Agri machinery continued its good performance in Q4FY21 due to positive macro factors and pent up demand from Q1FY21 and Q2FY21.

  • The company registered a higher market share in Q4FY21 than the company’s average share in FY21.

  • Subdued demand and lockdowns affect the supply chain as the company believes these problems are temporary and will be over soon.

Dividend: Escorts dividend

  • The Board of Directors has recommended a dividend of Rs. 7.5 per share for FY21.

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