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    ESCORTS   INE042A01014

ESCORTS LIMITED

(ESCORTS)
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Escorts : and IndusInd Bank come together to serve the farming community

09/14/2021 | 03:02am EDT

New Delhi, September 14th, 2021: Escorts Limited (Agri Machinery) reinforces its relationship with IndusInd Bank with a formal Memorandum of Understanding that will pave the way for both companies to provide one of the best financial offerings to its customers.

Escorts and IndusInd Bank will work together closely in understanding the financial needs of its customers and will jointly come up with various financial programs to enable customers invest in modern farm machinery to enhance their farm productivity and income.

The deal was formalised by Mr. Shenu Agarwal, CEO, Escorts Agri Machinery, and Mr. Shiban Kaul, Executive Vice President, Induslnd Bank.

Induslnd Bank with its understanding of rural customers and its wide penetration throughout the country will help Escorts Limited in moving towards its larger goal of fostering the dreams of the farming community of our nation.

On this occasion, Mr. Shenu Agarwal said 'The rural industry is growing at a record pace and we are seeing our customers shifting towards technologically advanced agricultural practices. Our role here is to provide them with the best of products and make the process of purchase as simple as possible'.

Adding to this, Mr. S.V. Parthasarathy, Head-Consumer Finance Division, IndusInd Bank said, 'We are proud and excited to partner with Escorts Limited. With this partnership, farmers will have easy access to loans at attractive interest rates. Our association will bring transparency, seamlessness and convenience to support the farmers in their endeavour to nourish the nation'.

About Escorts

The Escorts Group is among India's leading engineering conglomerates operating in high growth sectors of Agri Machinery, Material Handling & Construction Equipment, and Railway Equipment. The Group has earned the trust of millions of customers by way of product and process innovations over seven decades of its existence. Escorts endeavors to transform lives in rural and urban India by leading the revolution in agriculture mechanization, modernization of automotive & railway technology and transformation of Indian construction.

ABOUT INDUSIND BANK

IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on March 31, 2021, IndusInd Bank has 2,015 Branches/ Banking Outlet and 2,872 ATMs spread across geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX and NMCE. IndusInd Bank was included in the NIFTY 50 benchmark index on April 1, 2013.

For further information, please contact:

Disclaimer

Escorts Ltd. published this content on 14 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2021 07:01:05 UTC.


ę Publicnow 2021
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Financials
Sales 2022 76 799 M 1 040 M 1 040 M
Net income 2022 8 672 M 117 M 117 M
Net cash 2022 29 180 M 395 M 395 M
P/E ratio 2022 17,8x
Yield 2022 0,37%
Capitalization 145 B 1 964 M 1 962 M
EV / Sales 2022 1,51x
EV / Sales 2023 1,32x
Nbr of Employees 3 764
Free-Float 44,6%
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Vipin Kumar Chief Information Officer
Shailendra Agrawal Chief Operating Officer & Executive Director
Satyendra Chauhan Secretary & Compliance Officer
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