Escorts Limited is engaged in manufacturing and selling agricultural equipment and machinery, construction equipment and railway machinery, equipment and parts in India with international intervention.
Under several brand names such as Powertrac, Faemtrac, Steeltrac etc. the company is manufacturing agricultural tractors. Besides that, it is intervening in the agrarian market by manufacturing crop solutions, harvesters, sprayers, gensets and planters. Along with the at the company is engaged in manufacturing earthmoving and material handling equipment, heating equipment, round and flat tubes, hydraulic shock absorbers for railways coaches etc.
Along with that, the company is engaged in oil and lubricants trading and aero businesses. Escorts Limited was incorporated in 1944 with the name Escorts (Agents) Ltd at Lahore before the independence of India. The company is headquartered in Faridabad, India.
About Company Information:
The first private Institute of Farm Mechanisation of India was established by Escorts Agents Ltd. in the year of 1951, two years back from the merger of Escorts (Agents) Limited and Escorts (Agriculture and Machines) Ltd, resulting as the emergence of Escorts Agents Limited on 1953.
The company got the recognition of a public limited firm in the year of 1959, resulted as its renaming to Escorts Limited in January 1960. The tractors with Escort brand were introduced by the company as a collaboration took place between the Escorts Limited and Poland-based USRUS, commissioning a facility at Faridabad.
A joint venture, covering both the technical and financial aspects, took place between the Escorts Limited and internationally recognized giant automobile company Ford Motors (USA) for manufacturing Ford tractors in India in 1969, which resulted as the successful production of FORD 3000 in February of 1971. Escorts Scientific Research Centre, company’s first Research & Development centre was commissioned in the year of 1977 at Faridabad.
The company intervened into the healthcare industry in 1980 and established the Escorts Hospital and Research Center in Faridabad. Yamaha, the giant bike company of Japan, came under an agreement with Escorts Limited for manufacturing motorcycles involving the technology of Yamaha. Powertrac tractors were launched by the company in 1998. In the same year, a Memorandum of Understanding took place between the company and USA’s Long Manufacturing Company which gave birth to a joint venture in the USA. A subsidiary, namely Escosoft Technologies Ltd, was incorporated by the company in September 1999.
26% of its shareholding in Yamaha Motors Sectors was sold by the company in 2001-02. For divesting its share in Escorts Telecommunication Ltd., the company had gone for an agreement with Idea Cellular Ltd in January 2004. Escotoonz Entertainment Pvt Ltd, a sole subsidiary of Escorts Limited, successfully finished the Project King-II. This was applauded in France’s MIPCOM. For manufacturing highly technocratic railway machinery and equipment, the company commissioned a new manufacturing plant at Uttarakhand’s Rudrapur during the financial year of 2005-06. In the next financial year 2006-07, Escorts Limited started to manufacture shock absorbers regarding commercial vehicles.
Escorts Limited became the first company in India while it started to design Backhoe Loaders in 2010. Inverter tractors, for the first time in the nation, was introduced by Escorts Limited in 2011. It manufactured FT45 inverter tractor. In the next year, the country’s most fuel-efficient Powertrac 425 tractor was introduced by the company. Country’s debut lift-resistant tractors Anti-lift Tractors for commercial haulage operation was launched by the company in 2015.
In the next year, Escorts Limited introduced Farmtrac 6090, which was appreciated globally.
Country’s first Electric & Hydrostatic tractor was introduced by the company in September 2017. In this year the company achieved recognition as a premium tractor manufacturer internationally, having a wide range starting from 22 HP to 90 HP, under the banner of the brands like Farmtrac and Powertrac, having the emission norms of tier 4 in Europe and USA.
The company, through a huge acquisition of an additional 35 lakh shares, increased its shareholding up to 78% from 49%, in its subsidiary firm Escorts Securities Limited.
How Escorts Ltd, is categorised as Auto Sector, and Tractor Industry :
The Auto sector includes several types of companies that deals with the automobile industry. Besides auto manufacturers, it consists of a broad range of companies which focuses on manufacturing parts that go into cars, two-wheelers and trucks. It also includes few other companies that are responsible for vehicle sales, rentals or repairs.
Escorts Ltd is categorised as Auto Sector and Tractor Industry. Tractors industry form an essential part of the farm mechanisation and have an integral role to play in raising agricultural productivity. The tractor is a highly adaptable piece of machinery having a multitude of applications, used in agriculture both for land restoration and for carrying out various crop cultivation. It is also used in other applications like raising crops by attaching suitable tools and to offer the necessary energy for implementing various crop production operations. Tractor industry is involved in the production of agricultural crops especially in India where the major occupation is Agriculture.
Escorts Ltd, Competitors and Sector Peers:
Punjab Tractors Ltd. (Merged) PUNJTR
VST Tillers Tractors Ltd. VSTTIL