Retail numbers have been much stronger than wholesale numbers, Bharat Madan, Group Chief Financial Officer of Escorts said in an interview with CNBCTV18.

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He said retail sales were up around 30 percent.

Escorts is a leading engineering company, specializing in tractors, construction and material handling equipment and railway equipment.

Madan said demand has been pretty strong, but the company has been facing supply side issues because of problems at its vendors. He expects good growth over the next two months, and expects supply side problems to be resolved by December. He said fixed costs have come down as a result of the company’s focus on cost rationalisation, and expected margins to improve.

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First Published:Oct 7, 2020 11:37 AM IST