Retail sales stronger than wholesale numbers, says Escorts CFO
Retail numbers have been much stronger than wholesale numbers, Bharat Madan, Group Chief Financial Officer of Escorts said in an interview with CNBCTV18.
He said retail sales were up around 30 percent.
Escorts is a leading engineering company, specializing in tractors, construction and material handling equipment and railway equipment.
Madan said demand has been pretty strong, but the company has been facing supply side issues because of problems at its vendors. He expects good growth over the next two months, and expects supply side problems to be resolved by December. He said fixed costs have come down as a result of the company’s focus on cost rationalisation, and expected margins to improve.
Watch video for more
First Published: Oct 7, 2020 11:37 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
In Ayodhya, voters talk of a promise fulfilled and yearning for development
May 17, 2024 2:10 PM
Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 12:25 PM
Odisha: Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 10:22 AM
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM