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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Escorts Limited    ESCORTS   INE042A01014

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Escorts Limited : Escorts brings Glamour to the Tractor World...

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02/20/2013 | 11:28am CET

On its way to Image Leadership, Escorts unveils Ferrari - the world's best in specialty tractors, and the All-New, premium Farmtrac Executive Series

Escorts Limited today announced the launch of two new premium tractors - Ferrari, the world's best for specialty farming, and the All-New Farmtrac Executive series. With world-class technologies, impressive features, and stunning looks - these new tractors are set to revolutionize the Indian tractor market.

Ferrari brings tractor technologies to India that the country has never seen before. These include the all four equal-sized wheels, oscillating chassis system, all-time 4 wheel-drive, front-engine mounting for super-low turning radius and an ideal weight distribution. Starting with a 26 HP model suited for the advanced needs of Indian orchard and vineyard growers, the Ferrari is now available in Maharashtra and soon will be extended for sales in rest of the country.

The All-New Farmtrac Executive tractor series is aimed at the young aspirational Indian farmer. Farmtrac, known since last 40 years for its power and prestige, now packs in the new Executive series impressive world-class features, stunning looks and a car-like driving comfort. Independent PTO with a safety device, a new scissor seat with recliner for best driving comfort, stylish fenders for elegant looks, suspended clutch & brake pedals, a digital speedometer, and LED head-lamps add to the glamour quotient of the new Farmtrac Executive series. Available in 45, 50 and 60 horsepower categories, these tractors would be available for bookings within a few weeks from now.

Speaking on the occasion, Mr. Rajan Nanda, Chairman and Managing Director, Escorts Ltd.,

said, "I am convinced that India is poised for a gigantic leap forward in agriculture. The Indian agriculturist has evolved from just being a subsistent farmer to the one with an entrepreneurial bent of mind. Today, he is looking for equipment that is high on precision and output. Escorts is prepared to partner the forward looking Indian farmer in all facets of his aspirations. The products that we are launching today are a reflection of how Escorts would continue to bring in international technology and design standards to the Indian tractor market."

Speaking on the occasion, Mr. Nikhil Nanda, Joint Managing Director, Escorts Ltd. said, "The launch of Ferrari Orchard Tractors and the New Farmtrac Executive Series, brings mechanization to the high value orchard farmers of the country. Our alliance with Ferrari, brings to Indian Orchard farmers a world class tractor aimed at bringing about efficiency to their farm operations. We are passionately working to achieve premier Image Leadership in the Indian tractor industry. This is in line with our # 1 goal: to be the country's most profitable tractor manufacturer. The majority of our investments are aimed at development of new technologies and products. This is evident from the products we have launched in the last 12-18 months, which have received a very favorable customer response. In the months ahead we will continue to bring technologically advanced world-class products, to cement our position with Indian farmers."

Also present on this occasion, Ing. Benso Marelli, Managing Director, BCS S.p.A., Italy, said "The Ferrari philosophy is to create products that are second to none. Whether it is the four-equal wheels technology, the oscillating integral chassis system, or the all-time 4WD function, these are exclusive technologies that are the result of over 60 years of our engineering expertise. While we are a leading specialty tractor brand in Europe, it is the deep understanding of the Indian market and strong distribution capabilities that makes Escorts our ideal partner for India. Escorts is truly focused in bringing the best in the world to India to be able to increase the productivity of the Indian farms."

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Financials ( INR)
Sales 2017 40 073 M
EBIT 2017 2 303 M
Net income 2017 1 441 M
Debt 2017 -
Yield 2017 0,71%
P/E ratio 2017 20,86
P/E ratio 2018 13,18
Capi. / Sales 2017 1,06x
Capi. / Sales 2018 0,91x
Capitalization 42 491 M
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 378  INR
Spread / Average Target 9,1%
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NameTitle
Rajan Nanda Chairman & Co-Managing Director
Nikhil Nanda Co-MD & Non-Independent Executive Director
Shailendra Agarwal Chief Operating Officer
Vipin Kumar Chief Information Officer
Dave Surendra Ambalal Independent Non-Executive Director
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