Escorts Kubota Limited
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BSE Code:
500495
NSE Code:
ESCORTS
Business Profile
Business Profile
Escorts (ESCORTS), formed in 1944, manufactures farm equipment, automotive components, railway ancillaries, construction machinery, shock absorbers and telecom equipment.
Escorts is one of the country`s biggest tractor makers. It has a joint venture with Long Manufacturing of North Carolina for the manufacture, assembly and sale of tractors. EL has an exclusive distributorship agreement with Traksan for the sale of the company`s Farmtrac-60 tractors in Turkey. The Escorts group is investing Rs 3,000 million in the agri-machinery business. Of this, Rs 2,000 million will be invested in the tractor plant in Pune. It has set up a joint venture with the Carraro group of Italy.
In the year 1996, is subsidiary Escorts Tractors formally merged with the company. The subsidiary manufactures several brands of tractors; viz. Escort, Farmtrac and Powertrac, Paddy Transplanters, Sugarcane Harvesters, transmissions and axles, shock absorbers, telescopic front, forks and McPherson struts, railway equipments.
The company plans to launch a new tractor every six months to expand its portfolio.
Financials
The company announced that loss for the quarter ended in December 2008 has narrowed. Net sales for the quarter rose 14.65% to Rs 4,952.64 million.
Recent Developments
31-MAR-09
Fitch Ratings assigned a national long-term rating of `BB(ind)` to the company.