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{{short description|Indian multinational automotive engineering and manufacturing conglomerate}} | |||
{{distinguish|Escort Group|Special Escort Group (disambiguation){{!}}Special Escort Group}} | {{distinguish|Escort Group|Special Escort Group (disambiguation){{!}}Special Escort Group}} | ||
{{Use Indian English|date=September 2015}} | {{Use Indian English|date=September 2015}} | ||
{{Use dmy dates|date=September 2015}} | {{Use dmy dates|date=September 2015}} | ||
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| name = Escorts Limited | | name = Escorts Limited | ||
| logo = Escorts_Group.svg | | logo = Escorts_Group.svg | ||
| logo_size = | | logo_size = 200px | ||
| type = [[Public]] | | type = [[Public company|Public]] | ||
| traded_as = {{BSE|500495}} {{NSE|ESCORTS}} | | traded_as = {{BSE|500495}} {{NSE|ESCORTS}} | ||
| location = [[Faridabad]], [[ | | location = [[Faridabad]], [[Haryana]], India | ||
| founder = {{plainlist| | | founder = {{plainlist| | ||
*[[Har Prasad Nanda|H P Nanda]]}} | *[[Har Prasad Nanda|H P Nanda]]}} | ||
| foundation = {{start date and age| | | foundation = {{start date and age|1944}} | ||
| area_served = Worldwide | | area_served = Worldwide | ||
| key_people = [[Nikhil Nanda]] | | key_people = [[Nikhil Nanda]] ([[Chairman]] and [[Managing Director|MD]]) | ||
| revenue = {{ | | revenue = {{up}} {{INRconvert|7014|c}} (FY 2021)<ref name=FY21/> | ||
| | | net_income = {{up}} {{INRconvert|871|c}} (FY 2021)<ref name=FY21>{{cite news |title=Escorts Q4 results: Net profit jumps two-fold to Rs 285 crore |url=https://economictimes.indiatimes.com/markets/stocks/earnings/escorts-q4-results-net-profit-jumps-two-fold-to-rs-285-crore/articleshow/82630572.cms |access-date=29 October 2021 |work=The Economic Times}}</ref> | ||
| | | industry = [[Agricultural machinery]]<br />[[Automotive]]<br />[[Engineering]] | ||
| products = {{plainlist| | | products = {{plainlist| | ||
*[[Tractors]] | *[[Tractors]] | ||
*[[Backhoe loader]] | |||
*[[Crane (machine)|Cranes]] | |||
*[[Crop protection]] | *[[Crop protection]] | ||
*[[ | *[[Railway brake|Railway brake system]] | ||
*[[Railway | *[[Railway coupler]]s | ||
*[[Compactor|Vibratory compactor]]}} | |||
*[[Compactor|Vibratory compactor | | num_employees = 10,000+ (2021) | ||
| num_employees = 10,000 | |||
| website = {{URL|http://www.escortsgroup.com/}} | | website = {{URL|http://www.escortsgroup.com/}} | ||
}} | }} | ||
'''Escorts Limited''' is an Indian multinational [[Conglomerate (company)|conglomerate]] | '''Escorts Limited''' is an Indian multinational [[Conglomerate (company)|conglomerate]] that operates in the sectors of [[agricultural machinery]], construction machinery, material handling, and railway equipment. Its headquarters are located in [[Faridabad]], [[Haryana]]. The company was launched in 1944 and has marketing operations in more than 40 countries. Escorts manufactures [[tractor]]s, automotive components, railway equipment, and construction and material handling equipment.<ref>{{Cite web|title=Escorts Agri Machinery International {{!}} Escorts Agri Machinery|url=https://www.escortsgroup.com/agri-machinery/international/|access-date=2021-08-23|website=www.escortsgroup.com}}</ref> | ||
Escorts Limited's management team includes [[Nikhil Nanda]] as the Chairman and Managing Director.<ref>{{cite web|url = http://articles.economictimes.indiatimes.com/2013-05-23/news/39475719_1_nikhil-nanda-escorts-s-sridhar|title=How Nikhil Nanda is transforming Escorts to recapture it's lost ground}}</ref><ref>{{cite news |title= Can Nikhil Nanda turn around Escorts |url=https://www.business-standard.com/article/companies/can-nikhil-nanda-turn-around-escorts-115012101377_1.html |newspaper=Business Standard India |date=21 January 2015|last1=Bhandari |first1=Bhupesh }}</ref><ref>{{cite web|url = http://www.dnaindia.com/money/report-nikhil-nanda-at-escorts-ltd-wants-exports-to-drive-growth-looks-at-steering-construction-business-into-profits-2011515|title=Nikhil Nanda wants exports to drive growth |publisher=DNA Website | date=18 August 2014}}</ref> | |||
== History == | == History == | ||
Escorts Limited was originally founded as Escorts Agents Ltd. in 1944 by brothers [[Har Prasad Nanda]] and Yudi Nanda. They started a family owned business, Nanda Bus Company, in [[Jammu]]. | |||
Escorts Limited was originally founded as Escorts Agents Ltd. in 1944 by brothers [[Har Prasad Nanda]] and Yudi Nanda. They started a family owned business, Nanda Bus Company, in [[Jammu]]. Escorts Limited was founded in 1960 after the company set up its manufacturing base at Faridabad and began manufacturing x-ray machines with [[Westinghouse Electric Corporation|Westinghouse]] and heating elements with Elpro. | |||
Escorts Limited was founded in 1960 after the company set up its manufacturing base at Faridabad and began manufacturing [[agricultural machinery]], [[X-ray generator|x-ray machines]] with [[Westinghouse Electric Corporation|Westinghouse]] and heating elements with Elpro.<ref>{{Cite web|title=Overview|url=https://www.escortsgroup.com/escorts-group/overview.html|access-date=2021-08-23|website=www.escortsgroup.com}}</ref> | |||
== Businesses == | == Businesses == | ||
=== Escorts Agri Machinery === | === Escorts Agri Machinery === | ||
Escorts Agri Machinery was launched in 1960. The company manufactures [[tractors]] under the brand names Farmtrac, Powertrac, and Steeltrac.<ref>{{cite web|title= Escorts forms JV with Amul Group for Specialised Tractors |url= http://www.thehindubusinessline.com/companies/escorts-forms-jv-with-amul-group-for-specialized-tractors/article7098945.ece |publisher=Hindu Business Line | date=13 April 2015}}</ref> The first Escorts tractors were produced in 1961 based on [[Ursus SA|Ursus]] license.<ref>https://www.escortsgroup.com/escorts-group/useful-links/history-milestones.html</ref> In 1969, a partnership with [[Ford]] was set up to produce licensed Ford tractors for India.<ref name="escortsagri.com">{{Cite web|url=https://www.escortsgroup.com/agri-machinery/|title=Agriculture Tractor, Farming Equipment & Machinery | Escorts Agri Machinery was launched in 1960. The company manufactures [[tractors]] under the brand names Farmtrac, Powertrac, and Steeltrac.<ref>{{cite web|title= Escorts forms JV with Amul Group for Specialised Tractors |url= http://www.thehindubusinessline.com/companies/escorts-forms-jv-with-amul-group-for-specialized-tractors/article7098945.ece |publisher=Hindu Business Line | date=13 April 2015}}</ref> The first Escorts tractors were produced in 1961 based on [[Ursus SA|Ursus]] license.<ref>{{Cite web|url=https://www.escortsgroup.com/escorts-group/useful-links/history-milestones.html|title = History & Milestones}}</ref> In 1969, a partnership with [[Ford Motor Company|Ford]] was set up to produce licensed Ford tractors for India.<ref name="escortsagri.com">{{Cite web|url=https://www.escortsgroup.com/agri-machinery/|title=Agriculture Tractor, Farming Equipment & Machinery Manufacturer's in India- Escorts Agri Machinery|website=www.escortsgroup.com}}</ref> | ||
Escorts has a plant in [[Mrągowo]], [[Poland]], that was purchased from [[Pol-Mot Holding|Pol-Mot]] in 2000,<ref> | Escorts has a plant in [[Mrągowo]], [[Poland]], that was purchased from [[Pol-Mot Holding|Pol-Mot]] in 2000,<ref>{{cite web |url=http://farmtrac.com.pl/en_ofirmie.php |title=Archived copy |website=farmtrac.com.pl |access-date=14 January 2022 |archive-url=https://web.archive.org/web/20071017230730/http://farmtrac.com.pl/en_ofirmie.php |archive-date=17 October 2007 |url-status=dead}}</ref> and four plants in India. There was an assembly plant in [[Tarboro, North Carolina]], that was purchased from Long Agri, but the North American subsidiary went into [[receivership]] in 2008.<ref>{{Cite web|url=http://www.tractordata.com/news/2008/02/farmtrac-troubles.html|title=TractorData.com - Farmtrac stops production|website=www.tractordata.com}}</ref> | ||
===Escorts Construction Equipment=== | ===Escorts Construction Equipment=== | ||
| Line 55: | Line 55: | ||
===Escorts Auto Products=== | ===Escorts Auto Products=== | ||
Escorts | Escorts Auto Products manufactures auto suspension products such as shock absorbers, struts, and telescopic front forks for the automotive industry. The company collaborated with Fichtel & Sachs to introduce the concept of shock absorbers to be manufactured in India in 1966. In 2016, Escorts' Auto Products business was divested to Pune-based Badve Engineering.<ref>{{cite news|title= Escorts divests auto products business to Badve Engineering |newspaper= Business Standard India |url= http://www.business-standard.com/content/b2b-manufacturing-industry/escorts-divests-auto-products-business-to-badve-engineering-116081100881_1.html |publisher=Business Standard | date=11 August 2016|last1= Rao |first1= Rakesh }}</ref> | ||
===Motorcycles=== | ===Motorcycles=== | ||
The motorcycle division of Escorts group used to manufacture Polish [[SHL M11]] {{cvt|175|cc|abbr=on}} motorcycles under the brand name Rajdoot from the early 1960s until 2005.<ref>{{in lang|pl}} Adam Zakrzewski, ''Auto-moto PRL: władcy dróg i poboczy'', Demart, Warsaw 2010, {{ISBN|978-83-7427-484-5}}, p.131</ref> | The motorcycle division of Escorts group used to manufacture Polish [[SHL M11]] {{cvt|175|cc|abbr=on}} motorcycles under the brand name Rajdoot from the early 1960s until 2005.<ref>{{in lang|pl}} Adam Zakrzewski, ''Auto-moto PRL: władcy dróg i poboczy'', Demart, Warsaw 2010, {{ISBN|978-83-7427-484-5}}, p.131</ref> | ||
In the early 1980s, Escorts started making [[Yamaha Motor Company|Yamaha]] motorcycles in India. [[Rajdoot 350]] was launched in | In the early 1980s, Escorts started making [[Yamaha Motor Company|Yamaha]] motorcycles in India. [[Rajdoot 350]] was launched in 1983, which was later followed by the [[Yamaha RX 100]] in 1985. The motorcycle manufacturing unit in Faridabad, India, was sold to Yamaha in 2001 when Escorts decided to quit the motorcycle business to concentrate on tractors and auto components.<ref>{{Cite web|url=https://www.thehindu.com/archive/|title=Archive News|website=The Hindu}}</ref><ref>{{Cite web|url=https://www.cartoq.com/10-forgotten-bikes-of-india/|title=10 Forgotten Bikes of India|date=30 June 2016}}</ref> | ||
==Knowledge Management Centre== | ==Knowledge Management Centre== | ||
The Escorts Knowledge Management Centre (KMC) was created in 1976 and is spread over {{Convert|100000|m2|mi2|abbr=}} in Faridabad.<ref>{{Cite web|url=http://www.shreyaescorts.com/|title=Loading...|website=www.shreyaescorts.com}}</ref> The centre designs tractors. It has facilities such as an engine laboratory that has computerised test beds with online control, [[data acquisition]], and analysis; an advanced vehicle testing laboratory; a noise vibration and harshness lab; a metrology lab; and a materials engineering lab.<ref>{{Cite web|title=Escorts Knowledge Management Centre in Faridabad, Haryana, India - Company Profile|url=https://www.tradeindia.com/Seller-6952798-Escorts-Knowledge-Management-Centre/|access-date=2021-08-23|website=www.tradeindia.com}}</ref> | |||
The Escorts Knowledge Management Centre (KMC) was created in 1976 and is spread over {{Convert|100000|m2|mi2|abbr=}} in Faridabad.<ref>{{Cite web|url=http://www.shreyaescorts.com/|title=Loading...|website=www.shreyaescorts.com}}</ref> The centre designs tractors. It has facilities such as an engine laboratory that has computerised test beds with online control, [[data acquisition]], and analysis; an advanced vehicle testing laboratory; a noise vibration and harshness lab; a metrology lab; and a materials engineering lab. | |||
==References== | ==References== | ||
| Line 71: | Line 70: | ||
==External links== | ==External links== | ||
* [http://www.escortsgroup.com Official website] | * [http://www.escortsgroup.com Official website] | ||
*[https://tractorgyan.com/tractor/Escorts Escorts Tractor] | |||
{{Nifty 200 companies}} | {{Nifty 200 companies}} | ||
[[Category:Agricultural machinery manufacturers of India]] | |||
[[Category:Tractor manufacturers of India]] | |||
[[Category:Engineering companies of India]] | |||
[[Category:Indian brands]] | |||
[[Category:Companies based in Haryana]] | [[Category:Companies based in Haryana]] | ||
[[Category:Manufacturing companies established in 1960]] | [[Category:Manufacturing companies established in 1960]] | ||
[[Category:1960 establishments in India]] | [[Category:1960 establishments in India]] | ||
[[Category:Companies listed on the National Stock Exchange of India]] | |||
[[Category:Companies listed on the Bombay Stock Exchange]] | |||
Revision as of 18:36, 20 June 2022
 | |
| Traded as | BSE: 500495 NSE: ESCORTS |
|---|---|
| Industry | Agricultural machinery Automotive Engineering |
| Founded | 1944 |
| Founder(s) | |
| Headquarters | Faridabad, Haryana, India |
Area served | Worldwide |
Key people | Nikhil Nanda (Chairman and MD) |
| Products | |
| Revenue |  ₹7,014 crore (US$980 million) (FY 2021)[1] |
| ₹871 crore (US$120 million) (FY 2021)[1] | |
Number of employees | 10,000+ (2021) |
| Website | www |
Escorts Limited is an Indian multinational conglomerate that operates in the sectors of agricultural machinery, construction machinery, material handling, and railway equipment. Its headquarters are located in Faridabad, Haryana. The company was launched in 1944 and has marketing operations in more than 40 countries. Escorts manufactures tractors, automotive components, railway equipment, and construction and material handling equipment.[2]
Escorts Limited's management team includes Nikhil Nanda as the Chairman and Managing Director.[3][4][5]
History
Escorts Limited was originally founded as Escorts Agents Ltd. in 1944 by brothers Har Prasad Nanda and Yudi Nanda. They started a family owned business, Nanda Bus Company, in Jammu.
Escorts Limited was founded in 1960 after the company set up its manufacturing base at Faridabad and began manufacturing agricultural machinery, x-ray machines with Westinghouse and heating elements with Elpro.[6]
Businesses
Escorts Agri Machinery
Escorts Agri Machinery was launched in 1960. The company manufactures tractors under the brand names Farmtrac, Powertrac, and Steeltrac.[7] The first Escorts tractors were produced in 1961 based on Ursus license.[8] In 1969, a partnership with Ford was set up to produce licensed Ford tractors for India.[9]
Escorts has a plant in Mrągowo, Poland, that was purchased from Pol-Mot in 2000,[10] and four plants in India. There was an assembly plant in Tarboro, North Carolina, that was purchased from Long Agri, but the North American subsidiary went into receivership in 2008.[11]
Escorts Construction Equipment
Escorts Construction Equipment manufactures and markets construction and material handling equipment like pick-and-carry cranes, backhoe loader, vibratory rollers, and forklifts. The manufacturing and assembly facility is located in Sec 58, Faridabad.[12]
Railway Equipment Division
The Railway Equipment Division manufactures and supplies critical railway components such as air brake systems, EP brake systems, draft gears and couplers, composition brake blocks, dampers, and rubber components to the Indian Railways. The manufacturing facility is located in Sector 24, Faridabad.
Escorts Auto Products
Escorts Auto Products manufactures auto suspension products such as shock absorbers, struts, and telescopic front forks for the automotive industry. The company collaborated with Fichtel & Sachs to introduce the concept of shock absorbers to be manufactured in India in 1966. In 2016, Escorts' Auto Products business was divested to Pune-based Badve Engineering.[13]
Motorcycles
The motorcycle division of Escorts group used to manufacture Polish SHL M11 175 cc (10.7 cu in) motorcycles under the brand name Rajdoot from the early 1960s until 2005.[14]
In the early 1980s, Escorts started making Yamaha motorcycles in India. Rajdoot 350 was launched in 1983, which was later followed by the Yamaha RX 100 in 1985. The motorcycle manufacturing unit in Faridabad, India, was sold to Yamaha in 2001 when Escorts decided to quit the motorcycle business to concentrate on tractors and auto components.[15][16]
Knowledge Management Centre
The Escorts Knowledge Management Centre (KMC) was created in 1976 and is spread over 100,000 square metres (0.039 sq mi) in Faridabad.[17] The centre designs tractors. It has facilities such as an engine laboratory that has computerised test beds with online control, data acquisition, and analysis; an advanced vehicle testing laboratory; a noise vibration and harshness lab; a metrology lab; and a materials engineering lab.[18]
References
- ↑ 1.0 1.1 "Escorts Q4 results: Net profit jumps two-fold to Rs 285 crore". The Economic Times. Retrieved 29 October 2021.
- ↑ "Escorts Agri Machinery International | Escorts Agri Machinery". www.escortsgroup.com. Retrieved 23 August 2021.
- ↑ "How Nikhil Nanda is transforming Escorts to recapture it's lost ground".
- ↑ Bhandari, Bhupesh (21 January 2015). "Can Nikhil Nanda turn around Escorts". Business Standard India.
- ↑ "Nikhil Nanda wants exports to drive growth". DNA Website. 18 August 2014.
- ↑ "Overview". www.escortsgroup.com. Retrieved 23 August 2021.
- ↑ "Escorts forms JV with Amul Group for Specialised Tractors". Hindu Business Line. 13 April 2015.
- ↑ "History & Milestones".
- ↑ "Agriculture Tractor, Farming Equipment & Machinery Manufacturer's in India- Escorts Agri Machinery". www.escortsgroup.com.
- ↑ "Archived copy". farmtrac.com.pl. Archived from the original on 17 October 2007. Retrieved 14 January 2022.
{{cite web}}: CS1 maint: archived copy as title (link) - ↑ "TractorData.com - Farmtrac stops production". www.tractordata.com.
- ↑ "Escorts ties up with Japan's Tadano for high capacity cranes - ET Auto". ETAuto.com.
- ↑ Rao, Rakesh (11 August 2016). "Escorts divests auto products business to Badve Engineering". Business Standard India. Business Standard.
- ↑ (in Polish) Adam Zakrzewski, Auto-moto PRL: władcy dróg i poboczy, Demart, Warsaw 2010, ISBN 978-83-7427-484-5, p.131
- ↑ "Archive News". The Hindu.
- ↑ "10 Forgotten Bikes of India". 30 June 2016.
- ↑ "Loading..." www.shreyaescorts.com.
- ↑ "Escorts Knowledge Management Centre in Faridabad, Haryana, India - Company Profile". www.tradeindia.com. Retrieved 23 August 2021.