First in the series of Green Products, the newly launched NXT13DC CNG Crane in the 13-ton class has a 49.5 HP BSIII engine compatible with CNG and a robust straight axle backend, the company said in a release. Developed with indigenous R&D, the company added that NXT13DC CNG Crane has a truck-like look and turning radius of just 6.3m along with standard features.
Escorts has lined up a capex of up to Rs 400 crore for the ongoing fiscal for new product introduction and creation of production capacity for the same, according to a senior company official. The company, which has started exporting electric tractors to markets like the US and Europe, expects it to contribute up to 15 per cent of its overall overseas shipments in the next five to six years.
Kubota seeks to acquire certain additional equity shares of Escorts by way of preferential allotment and a mandatory tender offer in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, CCI said in a statement.
Due to uncertainties in the market conditions post the outbreak of coronavirus pandemic, Escorts Ltd has decided to delay the commencement production at its new JV plant to slightly later date this year. Besides, the company is also mulling to reduce its capital expenditure for FY'21 to weather the current supply chain disruption.
The new range would cater to customers in various markets including the US, Europe, Latin America, Africa and ASEAN countries apart from new generation farmers in India.
Turnover was up by 21.2 percent to Rs 4,167.6 crore against Rs 3,438.7 crore in the previous fiscal. Material cost was down by 90 bps at 67.0 percent against 67.9 percent in the previous fiscal.
Several tractor manufacturers ET spoke to said sales are likely to grow 18-19% to 5.8-5.85 lakh units by the end of this fiscal. If this comes true, it will be the second highest sales volume recorded in the domestic tractor market in a year after sales surged 20% to a record high of 6,34,151 units in 2013-14.
I think next two years our target is to take it to a double-digit level at a company level so obviously all three businesses (37:46) including the cost reduction ways and we are pretty hopeful as of now that we should be able to deliver on that by FY19.
Leading Indian tractor manufacturer Escorts Limited is buoyant about its prospects in Africa after its latest products got positive response at the largest farmers' trade fair in the continent.
| Name | DIN | Designation | Date of joining | |
|---|---|---|---|---|
| Surendra Ambalal Dave | 00001480 | surendra.dave@gmail.com | Director | 02 Sep,2005 |
| Darius Jehangir Kakalia | 00029159 | djkakalia@mullas.net | Director | 25 May,2016 |
| Nitasha Nanda | 00032660 | nandanitasha@hotmail.com | Whole-time director | 16 Jan,2015 |
| Rajan Nanda | 00043256 | corpsect@ndb.vsnl.net.in | Managing director | 28 Jun,1968 |
| Girish Behari Mathur | 00043352 | gb.mathur@escorts.co.in | Director | 16 Jan,2015 |
| Nikhil Nanda | 00043432 | vicky.chauhan@escorts.co.in | Managing director | 17 Oct,2005 |
| Sutanu Behuria | 00051668 | fertsec@nic.in | Director | 16 Jan,2015 |
| Hardeep Singh | 00088096 | hardeepsingh.india@gmail.com | Director | 28 Nov,2011 |
| Hayagreeva Ravikumar Puranam | 00280010 | ravikumar.ph@gmail.com | Director | 29 Jul,2014 |
| Vibha Paul Rishi | 05180796 | vibhapaul.rishi@gmail.com | Director | 29 Jul,2014 |
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