Tractor maker Escorts plans cost cutting, to launch VRS for staff

Ties up with a global consultancy firm

Escorts, the tractor maker which has seen a robust performance in recent quarters, will launch a series of initiatives to expand market, bring down costs and improve margins. A key initiative to cost control could come by way of a voluntary retirement scheme for a few hundreds.

“We have to get our EBIDTA to a very respectable level. Profitability is an important lever. We need to do a lot of work to get EBIDTA levels to best in class. Between now and next three years we will take the efforts further,” Nikhil Nanda, managing director at the Faridabad headquarter company