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New CEO at Escorts Agri Machinery biz

Escorts Ltd has appointed Ravi A Menon as Chief Executive Officer of its Agri Machinery business. Menon takes over from S Sridhar who will now move to head Escorts Construction Equipment (ECE).

Escorts to focus on high-end products

Aiming at improving its earnings profile, Escorts is now redefining market share by focusing on higher-priced products. The company is also planning to prune cost, align company's parameters with that of the industry, and carve out a pan-India presence for itself. Escorts has exited low-margin business of tractors up to 30 hp and concentrated on the higher margin segment between 30 hp and 60 hp, and plans to top the 50 hp-plus segment.

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