Escorts Finance Ltd
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BSE Code:
511716
NSE Code:
ESCORTSFIN
Business Profile
Business Profile
Escorts Finance (ESCORTSF), incorporated on Feb. 9, 1987, is primarily engaged in the business of hire purchase, leasing and bill discounting. Earlier known as Escorts Financial Services, it got its present name on Oct. 17, 1995. The company has been promoted by Escorts, which is among India`s leading engineering conglomerates operating in the sectors of agri machinery, construction and material handling equipment, railway equipment and auto components. Farmtrac North America LLC in USA and Farmtrac Tractors Europe Sp.z o.o. in Poland are other group companies.
The company is engaged in a major cost reduction program. It has switched its operations largely to its non-funded business while cutting down costs and concentrating on recovering whatever monies it can from the market. It has its countrywide network intact though staffing levels have thinned.
The registered office is located at N-6, Pratap Building, Connaught Circus, New Delhi-110001.
Financials
Escorts Finance to loss for the quarter ended September 2008 has narrowed. During the quarter, the loss of the company decreased to Rs 11.92 million compared with a loss of Rs 21.72 million in the same quarter last year.