|
The company said that Sanjeev Bajaj will be heading the construction equipment business for India as a chief executive from 1 December 2021. He will lead the growth agenda for this business.
Bajaj has been with the company for last seven years and has prior experience in construction industry, Escorts said in a statement.
"There is no appointment / resignation of any designated Key Managerial Persons of the Company, and the intimation is being provided as a good governance practice," it added.
The Escorts Group is an Indian engineering company that operates in the sectors of agri-machinery, construction and material handling equipment, and railway equipment.
The company reported 92.8% rise in consolidated net profit to Rs 178.5 crore on a 56.2% increase in revenue from operations to Rs 1,701.8 crore in Q1 FY22 over Q1 FY21.
Shares of Escorts rose 0.14% to Rs 1522.65. The stock hit a high of Rs 1545 and a low of Rs 1508 so far during the day.
|