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Escorts Construction Equipment Segment records highest ever monthly sales

Capital Market 

Sells 680 machines in March 2021

Escorts Construction Equipment Segment (ECE) in March 2021 sold 680 machines, the company's highest ever monthly sales and registering a growth of 252.3% against 193 machines sold in March 2020.

With continued Government thrust on infrastructure spending with an aim to achieve accelerated growth in GDP and massive Capex plan under NIP (National Infrastructure Pipeline), timely disbursal of project payments, major policy amendments for highway concessionaires and asset monetisation to ensure liquidity, we expect construction equipment demand will continue to be strong. However, some supply chain issues and rising inflation in commodity prices, continue to be worrying factors.

For Q4 FY21, the company sold 1604 machines compared to 986 machines in Q4 FY20, recording a growth of 62.7%.

For FY21, the company sold 3913 machines compared to 4042 machines in FY20, recording a decline of 3.2%.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, April 05 2021. 09:05 IST
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