IGI Logo

Below are Quote on Escorts Apr`21 sales numbers by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd

Escorts reported monthly wholesales numbers of 6,979 units for Apr’21 as compared to sales of 705 units in Apr’20 when production was impacted due to the nationwide lockdowns imposed by the central Government. Domestic sales stood for Apr’21 stood at 6,386 units while exports sales stood at 593 units. While sales were up on a YoY basis they were down on a monthly basis as the company had reported sales of 12,337 units in Mar '21 with domestic sales of 11,730 units and exports of 607 units. The management has highlighted that this time around the supply chain disruptions have been minimal as compared to Apr’20 when there were significant disruptions in supply chains. We continue to remain positive on Escorts and maintain our BUY rating on the stock as we expect demand and production to rebound once the worst of the second Covid wave is over given a strong rural economy on the back of good rabi season, sustained crop prices and predictions of a good monsoon this year.

Above views are of the author and not of the website kindly read disclaimer