homeauto NewsSupply issues crept up due to farm protests, expecting highest numbers this quarter: Group CFO, Escorts
Supply issues crept up due to farm protests, expecting highest numbers this quarter: Group CFO, Escorts
This quarter should see the best performance of the company, says Bharat Madan, Group CFO, Escorts in an interview with CNBC-TV18.
This quarter should see the best performance of the company, says Bharat Madan, Group CFO, Escorts in an interview with CNBC-TV18.
“For the first eight months of this year, the industry growth has come into about 15 percent,” he said, “At this pace, we can be somewhere between mid-teens now."
“The demand was good in the last two months because of the festive season. October, the industry growth was close to 7-8 percent and November the growth was much higher. Overall this quarter - one of the highest numbers the industry would have ever done,” he said.
Madan said the company has seen demand coming from markets like Uttar Pradesh, Bihar & Rajasthan.
On steel prices, he said, “We are seeing more increases happening on the steel prices, so there may be a possibility of another price hike in the next quarter.”
Supplies from Kubota joint venture (JV) has begun, and he expects export orders to pick up. “Supplies from Kubota has started, and next year we will see good numbers coming in from that front,” he said.
For entire discussion, watch video.
(Edited by : Yashi Gupta)
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