Escorts Ltd. is one of India’s leading engineering conglomerates engaged in the manufacturing of Agri-machinery, Construction & Material Handling Equipment and Railway Equipment.[1]
Business Segments1) Agri Machinery (70% in FY24 vs ~76% in FY23):[1]Products include Tractors, Engines, implements, Spare parts, and Lubes.2) Construction Equipment (19% in FY24 vs ~14% in FY23): Trades in Material handling, Road compaction, and Earth Moving Equipment.3) Railway Equipment (11% in FY24 vs 10% in FY23):Manufactures Brake System, Couplers, Suspension System, Friction & rubber Products.[2]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Escorts Kubota | 3679.35 | 33.98 | 41163.73 | 0.76 | 321.18 | 6.12 | 2777.42 | 22.63 | 13.68 | 10626.51 | 12.39 | 1211.31 | 321.18 | 3.45 | 9.97 | 0.01 |
| 2. | VST Till. Tract. | 5551.00 | 49.64 | 4797.91 | 0.35 | 25.43 | -43.40 | 315.15 | 11.19 | 12.52 | 1118.13 | 12.37 | 96.67 | 25.43 | 4.50 | 7.55 | 0.00 |
| 3. | Indo Farm Equip. | 180.00 | 30.99 | 864.92 | 0.00 | 4.98 | 38.33 | 103.89 | 20.68 | 7.74 | 426.29 | 13.88 | 27.90 | 4.98 | 1.57 | 3.34 | 0.33 |
| 4. | Gurunanak Agri. | 30.60 | 7.69 | 36.72 | 0.00 | 2.09 | -39.24 | 16.10 | -34.45 | 55.48 | 43.86 | 22.71 | 6.12 | 2.09 | – | 29.04 | 0.25 |
| – | Median: 3 Co. | 3679.35 | 33.98 | 4797.91 | 0.35 | 25.43 | 6.12 | 315.15 | 20.68 | 12.52 | 1118.13 | 12.39 | 96.67 | 25.43 | 3.45 | 7.55 | 0.01 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1,883 | 2,264 | 2,183 | 2,328 | 2,465 | 2,706 | 2,290 | 2,556 | 2,265 | 2,935 | 2,430 | 2,483 | 2,777 |
Expenses | 1,731 | 2,073 | 1,947 | 2,001 | 2,198 | 2,383 | 1,999 | 2,239 | 2,032 | 2,600 | 2,137 | 2,158 | 2,414 |
Operating Profit | 153 | 190 | 236 | 327 | 267 | 324 | 291 | 317 | 233 | 335 | 293 | 325 | 363 |
Other Income | 5 | 91 | 52 | 95 | 94 | 128 | 133 | 140 | 139 | 142 | 151 | 1,259 | 134 |
Profit before tax | 119 | 241 | 247 | 379 | 294 | 385 | 353 | 388 | 302 | 413 | 378 | 1,521 | 431 |
Tax % | 26% | 23% | 25% | 25% | 27% | 23% | 22% | 22% | -8% | 22% | 21% | 8% | 26% |
Net Profit | 88 | 186 | 185 | 283 | 213 | 298 | 275 | 304 | 327 | 323 | 298 | 1,400 | 321 |
EPS in Rs | 6.64 | 14.13 | 14.06 | 25.59 | 19.31 | 26.96 | 24.89 | 27.47 | 29.20 | 28.89 | 26.59 | 125.16 | 28.71 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 6,292 | 3,986 | 3,367 | 4,093 | 4,995 | 6,196 | 5,761 | 6,929 | 7,197 | 8,345 | 9,731 | 10,187 | 10,627 |
Expenses | 5,910 | 3,824 | 3,190 | 3,809 | 4,438 | 5,463 | 5,085 | 5,800 | 6,201 | 7,565 | 8,598 | 9,009 | 9,310 |
Operating Profit | 381 | 161 | 177 | 284 | 557 | 733 | 676 | 1,129 | 996 | 780 | 1,133 | 1,178 | 1,316 |
Other Income | 85 | 30 | 27 | 46 | 53 | 93 | 83 | 155 | 169 | 183 | 525 | 572 | 1,686 |
Interest | 111 | 57 | 50 | 31 | 29 | 18 | 15 | 11 | 13 | 10 | 39 | 27 | 16 |
Depreciation | 83 | 66 | 58 | 63 | 72 | 85 | 105 | 116 | 130 | 148 | 224 | 243 | 243 |
Profit before tax | 272 | 68 | 96 | 236 | 509 | 722 | 639 | 1,157 | 1,022 | 805 | 1,396 | 1,480 | 2,744 |
Net Profit | 245 | 75 | 84 | 160 | 345 | 485 | 486 | 874 | 766 | 607 | 1,082 | 1,251 | 2,342 |
EPS in Rs | 19.98 | 6.09 | 6.83 | 13.09 | 28.12 | 39.56 | 39.61 | 64.82 | 58.03 | 46.00 | 97.89 | 111.81 | 209.35 |
Dividend Payout % | 9% | 19% | 18% | 11% | 7% | 6% | 6% | 12% | 12% | 15% | 18% | 25% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 119 | 119 | 123 | 123 | 123 | 123 | 123 | 135 | 132 | 132 | 110 | 112 | 112 |
Reserves | 1,712 | 1,677 | 1,715 | 1,869 | 2,426 | 2,900 | 3,358 | 5,257 | 7,746 | 8,303 | 9,306 | 10,268 | 11,792 |
Borrowings | 436 | 481 | 360 | 263 | 50 | 277 | 34 | 58 | 52 | 57 | 444 | 103 | 103 |
Other Liabilities | 1,261 | 1,170 | 1,094 | 1,259 | 1,671 | 1,697 | 1,798 | 1,754 | 1,442 | 1,816 | 2,549 | 2,614 | 3,059 |
Total Liabilities | 3,528 | 3,448 | 3,292 | 3,513 | 4,269 | 4,997 | 5,312 | 7,203 | 9,372 | 10,308 | 12,410 | 13,097 | 15,067 |
Fixed Assets | 1,643 | 1,583 | 1,559 | 1,578 | 1,581 | 1,630 | 1,688 | 1,783 | 1,832 | 1,888 | 2,162 | 2,042 | 2,097 |
Gross Block | 2,422 | 2,410 | 2,436 | 2,447 | 2,487 | 2,601 | 2,743 | 2,922 | 3,072 | 3,257 | 3,808 | 3,735 | – |
Accumulated Depreciation | 779 | 827 | 877 | 869 | 906 | 971 | 1,055 | 1,139 | 1,240 | 1,369 | 1,646 | 1,693 | – |
CWIP | 37 | 55 | 58 | 35 | 64 | 76 | 124 | 64 | 88 | 114 | 161 | 152 | 141 |
Investments | 382 | 383 | 416 | 587 | 894 | 857 | 1,166 | 2,305 | 5,133 | 5,031 | 5,073 | 5,641 | 7,079 |
Other Assets | 1,467 | 1,426 | 1,259 | 1,313 | 1,730 | 2,433 | 2,333 | 3,051 | 2,318 | 3,276 | 5,014 | 5,261 | 5,750 |
Total Assets | 3,528 | 3,448 | 3,292 | 3,513 | 4,269 | 4,997 | 5,312 | 7,203 | 9,372 | 10,308 | 12,410 | 13,097 | 15,067 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 347 | 2 | 222 | 301 | 472 | -241 | 817 | 1,119 | 41 | 236 | 795 | 1,207 |
Cash from Investing Activity | -62 | 19 | -25 | -140 | -378 | -14 | -429 | -2,197 | -1,871 | -68 | -765 | -403 |
Cash from Financing Activity | -236 | -11 | -195 | -138 | 0 | 192 | -308 | 1,014 | 1,813 | -70 | 21 | -700 |
Net Cash Flow | 49 | 10 | 1 | 23 | 94 | -63 | 79 | -64 | -18 | 99 | 52 | 104 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 20 | 36 | 42 | 41 | 44 | 55 | 48 | 37 | 42 | 53 | 55 | 49 |
Inventory Days | 47 | 61 | 66 | 56 | 59 | 71 | 79 | 54 | 59 | 70 | 87 | 68 |
Days Payable | 67 | 90 | 115 | 117 | 133 | 104 | 121 | 94 | 65 | 74 | 86 | 82 |
Cash Conversion Cycle | 1 | 8 | -7 | -20 | -30 | 21 | 6 | -4 | 36 | 48 | 56 | 35 |
Working Capital Days | -11 | -20 | -38 | -37 | -25 | 13 | 10 | -3 | 31 | 39 | 31 | 25 |
ROCE % | 17% | 7% | 8% | 12% | 22% | 25% | 19% | 26% | 15% | 11% | 14% | 14% |
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