Dear Shareholders,

Since inception, Escorts’ evolution has reflected serving the priorities of the country by leveraging our engineering prowess & innovation to address some of the core building blocks of the nation such as ‘better food & prosperity’ through our agriculture business; ‘better & safe infrastructure’ through our construction business; and ‘better technology-driven personal mobility’ through our auto and railway businesses directed towards enhancing the life quality of consumers, communities, countries and the world. Being deeply engaged in India’s socioeconomic progress, our focus on ‘Engineering the fundamentals of growth’ depicts the core of our existence.

Keeping in view the national and global priorities both on the economic and resources front, we have augmented our capabilities to directly address some of the major imbalances that impact our communities today, including low agricultural yields, outdated farm practices, infrastructural deficit and employment generation. At Escorts, it is finding a solution to these challenges that drives us every single day and we are devoted to realizing the potential of a country that is resurgent, forward-looking and truly committed to an inclusive growth philosophy.

India is among the largest tractor markets of the world. We are focused on spearheading agricultural mechanization which can enhance yields, alleviate labor intensity and contribute to an agricultural resurgence that is at the core of food security as well as economic wellbeing among our farmer communities. To our commitment of mechanization, we are also bringing to the fore our frugal engineering practices. This is helping us optimize costs, gain higher efficiency, drive better capacity utilization and ensure superior cost competitiveness, thereby setting the platform for growing our market share.

With increasing urbanization, the government’s assertive focus on correcting the country’s infrastructural deficit, developing roads network, enhancing inter-city mobility through rapid transportation systems and modernizing the railways is evident in the proposed establishment of smart cities. The widest complement of our construction machines, auto components & railway products gives us just the right portfolio to address the core national urban development need. Our emphasis on technology-driven products are aligned to elevate the country’s transportation infrastructure.

With an array of world-class products and processes to back us, Escorts, as a future-facing enterprise has now embarked on a challenging journey – bringing in international benchmarks through technology collaboration with global majors, strengthening our frugal engineering excellence coupled with innovation-led technology and service commitment to bring in the best to address growing customer needs. We are building enduring relationships to strengthen our customer proximity and enhance brand equity. Our strategy is in place to build stronger partnerships among our suppliers and dealers, broaden our distribution network and expand our coverage to maximize reach. We are engaging with globally-reputed consultants who are helping us in cost optimization, institutionalizing best-inclass systems and processes for lean and proficient operations and enhanced profitability.

At Escorts, our people agenda exemplifies inclusiveness for skill building and for creating a pipeline of aspiring talent. Building ‘employable’ talent is a core priority for India’s long-term socioeconomic progress. As a means to participate in this mission through our CSR initiatives, we constituted Escorts Skill Development Private Limited with the stated objective of establishing and operating skill development centres across the country as a means to equip youth with skills and create livelihood opportunities.

At Escorts, we are creating value that transcends conventional measures – as a world-class engineering company, as a preferred employer and as an entity dedicated to sustained philanthropy. I invite you to be a part of Escorts, a truly vibrant engine of growth aligned with the rise of our nation.

Chairman & Managing Director,
Escorts Limited