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business | IST

FY20 could see double-digit growth, if we have well-distributed monsoon, says Escorts

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Escorts has bucked the trend of weak auto sales in February as its tractor sales rose 12 percent last month. Bharat Madan, CFO of Escorts, spoke  to CNBC-TV18 about the company's business plans and growth prospects.

Escorts has bucked the trend of weak auto sales in February as its tractor sales rose 12 percent last month. Bharat Madan, CFO of Escorts, spoke  to CNBC-TV18 about the company's business plans and growth prospects.
"Markets in central India like Madhya Pradesh, Rajasthan did very well in February," Madan said on Tuesday.
Talking about the company's growth, Madan said, “Harvesting season will be in April and also festive season shifted to April so March may be a slightly slower month, but we are expecting a good crop, harvesting should be good. So Q1 should be a decent growth and around 10 percent growth can be seen from the industry also.”
On the exports front, he said, “One of the advantages which we have is we are still sitting on a low inventory base for dealers. So in terms of the number of days the inventory has come down so that’s an opportunity we think compared to the industry.”