ESCORTS February 9, 2017 BSE Limited ‘National Stock Exchange of India | Delhi Stock Exchange Limited Phiroze Jeejeebhoy | Limited OSE House, 3/1, | Towers, Exchange Plaza, Bandra Kurla Asaf Ali Road, Dalal Street, Complex, Bandra East, Mumbai- | New Delhi~ 110002 Mumbai-400051 | 400051 BSE ~500495 NSE- ESCORTS Dse-o0012 Subject: Outcome of the Board Meeting of Escorts Limited pursuant to Regulation 30 & Unaudited Financial Results (Provisional) pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir, Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please note that the Board in its meeting held today i.e. February 9, 2017 has approved the Unaudited Financial Results (Provisional) for the quarter ended December 31, 2016 and Limited Review Report thereon, Please find enclosed herewith the following 1. Unaudited Financial Results (Provisional) for the quarter ended December 31, 2016 2. Limited Review Report 3. Press Release We further wish to inform you that the Board Meeting held today commenced at 11:00 a.m. and concluded at L2-Sa p.m, Kindly take the same on record. ‘Thanking you. Yours faithfull For Escorts Limited ae ee Ajey Sharma Group General Counsel ‘& Company Secretary Encl: A/a ESCORTS LIMITED Corporate Secretarial & Low Registered Office :15/5, Mathura Road, Foridabad - 121 003, India Tel, : +91-129-2250222 Fax : +91-129-2250060 E-mail : corpsl@eecors.coin Website: wivw.escortsgroup.com Corporate Kentiication Number -L74B99HRI944PL.CO39088€ Stotement of Standalone Unaudited Financial Realts For the Quatr & Nine Monthe Ended 31st Decomber, 2016 ] Sana Ra ee [ogee | eee 7 [rcons rr Opens |=) nner Osesons ores] sarsazr|| anizsroo] manners |») oer Onasing eae ssa] smar|| sms] 23] Jou necro Oneratans ss 76 | sassaoe] | —svzperso] sez] 2 expenses 2) Matos Conse somoar| —orveson| —axsmazr| | senrsnso| — tnsoess (Puente of Sec ae orca] —suuaar| —aamnst || reratoo) —tessean fo) charge iris Ft se, Wanye Sct tso4s] —qosisn} saucer] | asmoun] 90 fh empayeerats geres sees] siwo0] saasesa|] soya] aos fs) cmcston Annes xeree senas] rerse] —sasesa|] amar] aac —— sazew| nsrza| aauz|| sansa] esses — Tousisas| —sossrae] —seaseat| [—saasse7| —aseans s from’ Coes rom opraton betes Omer hcome, Pace Cot and Excepona tent a ee ee ee «fr L209 tom rary Actes sere Fanee Gxt an Excaponal am (4) ana mics lfieea pet 1.2 trom Oday Actes st Fane one naar Exceptions tam) | rene) aarran Sea teee| 2 foooiona ane zoos] sear tues] zs © roe tser wom Oras Sener Ta (3) Tservo] ase Tana] sont 10 facta zine] 1058 sme] oe 11 fete (one ray ctr Tex(@-10) Sau73] a7 Tat) Tae 12 Jessa nso) 12 strat (ens orthe period rom CntelngOprtne er Tax (1-42 aaa] — sae oD 14 tos re Ossie Operon re Tact: 6) asrso5) ets) tapos] aster] 1s jnctapnsecnomnrerun Operon ert) ize] cats] mem] ass] 1 ferrets on Oscars Onters 615 (ecte8) faovess| 0 (asoa26) 17 fecPramtor ne Pura 16 aaa] — sneer ‘eases — ssa? 1 fone cerpemnaecincae retin) za} ca 2 12 ree Conorotenie come asesa| ese] | —sopoeas| —osen20 2 asap ena re face Vat 0:0) saasrae| 2smree| | iaaeree| asren ex anc nonraia tn Exes Eyes Dene ete Tat 018 s20se| zors| ess fssap ena rectal ace Vat 10 ac) ser] Tiners|| aes] vaasers Jeaming or Sharer contig operation et Re, 1 each rt sia farsa 40] as 216 se fo css 40] a6 216 1a] se "leanings er Saree acortined eprint Rs. 8 ach nt are fa sassy caso] oss] os] eas} al rms ase] a eu] cf “leamang er stare fr aucotnd& contig pean) 10 Ach (anc f fa sac) +0 2 m sas yond + 22 mm | sa ot ure pasan naan CHARAN Ema coraoctds onset, Webel: war. ascetsgroup com rest ee Ce Urano comos 2103, Henne€ Segment Wise Revenue, Results And Caps Employed, For The Quarter & Nine Months ended St December, 2015 “haartonecy Pos ante] msm] roraan ssearon|—arozsace ‘Shancoy erp smn] coum | sean wimn| yon Semmens erent] sacar) nar fina| Smee ttn] esa co toon) ace on a co ainn| Sear ‘ate ana ts ie hy Pa “ines “an! “ones "hces| —“oras Sener ear fein | ema] man arn] Bea fnennt noe Bey oan emt pn tma| “eorai] ama Sane| tases 2 tamer er tina Soom] Sin imal Bra sem] asre| anor seem] ase ‘mayan eg Dre) 8 on ng 0 an ay, nr eo va ap a ca Sad es St pet ne Son 9 on aps 37 seme se Pen ‘Serene poor snr ma UISed hips soar Seae (oon the Carpe sc psn copa ate equ campy ih MBAS[Papert rere emanate be a ot © oseo] oma ® 24 sire @ en em ute eat aah st Puce Agent Agee eh 209 yr ge a re te ge ewe ‘Spc nt easy rar eA Peat ras be aod ep Sones pen sor ena a aT Saar TT 7 t= [ro aac tity cl : Shensonteron dap ote ong alee ret em ncn opee b) aco] eno] wos] com] 08 7 Tnetta Enagee te kept cnctotranay ossene soe Rea re hses meaner Seema, wie aneecr ewan rpeentand var retin Wate: wr neorepou 2 fice 85 ars Rone, Ferabad12 Of Moyea auntyS.N.Dhawan & CO. LLP Chartered Accountants Limited Review Report Review Report to The Board of Escorts Limited We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of Escorts Limited (‘the Company”) for the quarter and nine months ended December 31, 2016 (“the Statement”), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No, CIR/CFD/FACY/62/2016 dated July 5, 2016. This Statement is the responsibility of the Company’s Management and has been approved by the Board of Directors. Our responsibility is to issue a report ‘on the Statement based on our review. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate ssurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit, We have not performed an audit and accordingly, we do not express an audit opinion. Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the applicable Accounting Standards ie. Ind AS and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, read with SEBI Circular No. CIR/CFD/FACY62/2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement. For S. N. Dhawan & CO. LLP Chayfered Accountants (Firm Regn. No {p000S0N/NS00045) fey Ca (Vijay Dhawan) eae Partner MNo.: 012565 Dated: February 9, 2017 Place: New Delhi Registered Office 410 Ansal Bhawan 4 bam 8, teat win 416 Kasturba Gandhi Marg, New Delhi - 110 001 pti te coer mente Tol: +91 11 43684444, 43008546; E mall: contact@mazars.co.inESCORTS PRESS RELEASE Escorts Profits grow by 54.4% at = 101 crore Tractor volumes in Q3 up by 27.4% at 16,963 units Construction Equipment volumes in Q3 up 16.8% at 815 units EBIDTA for Q3 up by 123.5% at €91.5 crore Profit from continued operations in Q3 up by 107.7% at 753.6 crore One-time loss from discontinued operations of €30.8 Crore New Delhi, February 9, 2017: Escorts Limited today reported a profit of € 22.7 crore in the quarter ending December 31, 2016 up by 11.2 percent as against a profit of & 20.4 crore in the corresponding quarter in the previous fiscal. The profit reported is after one time loss from discontinued operations in respect of its Auto Products business of Rs 30.8 cr. The net profit for the nine months ending December 2016 was up by 54.4 percent at € 101 crore as against ® 65.4 crore in the corresponding period last year. HIGHLIGHTS 9MFY17 Turnover up 18.7% at 23,1237 | Tractor sales were up by 27.4 percent at 16,963 units during the yee third quarter of the current fiscal. Sales of construction equipment went up by 16.8 percent at 815 units as against 698 units in the EBIDTA up by 87.5% at © 249.4 corresponding quarter. crore. Turnover for the quarter was up by 22.6 percent to & 1,093 crore as, Domestic tractor market share against the quarter ended December 2015. Turnover for first nine peer ‘months of fiscal 2017 stood at & 3,123.7 crore, up by 18.7 percent as against & 2,632.7 crore in the nine months ended December 2015. Material cost was down by 156 bps at 68.6 percent as against 70.2, EBIDTA margins up by 293 bps percent in the corresponding nine-month period, ‘Material cost down by 156 bps EPS at & 8.45 as against 5.48 EBIDTA from continuing operations for the quarter was up by 123.5 last year. percent at € 91.5 crore as against & 40.9 crore in the corresponding. quarter. EBIDTA for the First nine months was up by 87.5 percent at % 249.4 crore as against ¥ 133 crore in the corresponding nine- month period last fiscal Speaking on the results, Chairman Mr. Rajan Nanda said, “We are on a growth trajectory. Escorts today is prepared for a continued momentum and growth across sectors. Agricultural and highways focus in the union budget will also have a positive impact on farm income, rural economy and infrastructure development fostering further investments and opportunities.” ESCORTS LIMITED Registered Office: 15/5, Mathura Rood, Faridabad - 121 003, Indio ( Tel.: +91-129-2250222 Fox: +91-129-2250009 ee eeESCORTS According to Mr. Nikhil Nanda, Managing Director, Escorts Ltd, “Escorts today is a leaner company with smart, integrated & efficient processes and infusing cost optimization across the board. Strategic focus on investments in expanding our product portfolio, appointing new dealers for an expanded coverage and wider service reach have resulted in better customer connect and demand. We will continue to innovate, add new product features and achieve cost efficiencies.” SEGMENT WISE PERFORMANCE Escorts Agri Machinery Tractor sales were correspondingly up by 27.4% at 16,963 units during the third quarter of the current fiscal. EBIT margins correspondingly up by 345 bps at 10.4% as compared to 7.0% in last year same quarter. For the nine months of the year, tractor sales were up by 23.2% at 48,808 units. EBIT margins up by 258 bps at 10.4% as against 7.8% in the corresponding period. Market share grew to 10.4% as against 10.1% in the corresponding nine months. Escorts Construction Equipment Construction equipment volume in Quarter ended Dec'16 went up by 16.8% at 815 units against 698 units in the corresponding quarter. For nine months ended December construction equipment volume were up by 25.3% at 2,278 units as against 1,818 units in corresponding nine months. Railway Equipment Division The division recorded a 2.6% increase in revenue for the third quarter ended Dec’16 at % SB crore as against ® 56.5 crore in the corresponding quarter. For the nine month of the year, RED revenue stood at 175.9 crore, an increase of 2.9% against & 170.9 crore in the corresponding period of the last fiscal. EBIT Margin for nine months up by 197 bps at 13.4% as against 11.4% in corresponding nine months. The current order book is around & 130 crore and will be executed in the next 6-7 months. Escorts Auto Products Revenues from the Auto division was & 15.5 crore in the quarter ending December 2016 as against € 18.5 crore in December 2015. As a part of strategic reorientation we have divested Auto Product business, The reviewed accounts of the third quarter and nine months ended 31” December 2016 has been ‘approved by the Board of Directors of Escorts Limited. At For further information, kindly contact: Sharad Gupta “\ Wild Investor Relations Group Head Corporate Brand Communications a Escorts Ltd. Escorts Ltd. Contact No: +91 129 2564921 ID: sharad.gupta@escorts.co.in Email ID: investorrelation@escorts.co.in ESCORTS LIMITED Registered Office: 15/5, Mathura Road, Faridabad - 121 003, India “li: +91-129-2250222 Fox: +91-129-2250009 E-mail: excortgroup@escors.co.in Website: wnw.escorsgroup.com Page 2 of 2 Corpora deniication Number L74899HR1944P1.CO39088