Earnings Review
Escorts Kubota Jul-Sept PAT up 53% on yr, beats Street view
This story was originally published at 19:03 IST on 7 November 2024
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--Escorts Kubota Jul-Sept net profit INR 3.27 bln
--Analysts saw Escorts Kubota Jul-Sept net profit INR 2.56 bln
--Escorts Kubota Jul-Sept net profit INR 3.27 bln vs INR 2.13 bln year ago
--Escorts Kubota Jul-Sept revenue INR 24.76 bln vs INR 24.65 bln year ago
--Escorts Kubota Apr-Sept net profit INR 6.30 bln vs INR 5.09 bln year ago
--Escorts Kubota Apr-Sept revenue INR 52.77 bln vs INR 52.67 bln year ago
--Escorts Kubota Jul-Sept agri machinery sales INR 18.8 bln vs INR 17.9 bln
--Escorts Kubota Jul-Sept India tractor volume 25,995 units vs 26,241 units
--Escorts Kubota construction segment volumes 1,394 units vs 1,709 units
--Escorts Kubota agri machinery segment EBIT margin 9.1% vs 9.3% year ago
--Escorts Kubota construction segment EBIT margin 9.3% vs 9.9% year ago
--Escorts Kubota railway segment EBIT margin 15.2% vs 18.5% year ago
--Ecorts Kubota Jul-Sept EBITDA INR 2.68 bln
By Ketan Barot
MUMBAI – Escorts Kubota Ltd.'s earnings for the September quarter beat the Street's estimates on both net profit and revenue. The company reported a net profit of INR 3.27 billion for the September quarter, up 53.2% from INR 2.13 billion in the same period a year ago. Analysts had expected the company to report a net profit of INR 2.56 billion.
The agri and construction equipment manufacturer reported revenues of INR 24.76 billion for the September quarter, up marginally from INR 24.65 billion for the same period a year ago. Analysts had expected the company to report revenues of INR 22.45 billion. Sequentially, the company's net profit rose 7.6%, while the revenue declined 11.6%.
The company's total expenses for the September quarter were INR 22.81 billion, almost flat on year. The cost of materials consumed in the September quarter fell 13.1% on year to INR 14.86 billion, while the expenses for the purchase of stock-in-trade more than doubled on year to INR 6.24 billion from INR 2.93 billion.
For Apr-Sept, the company reported a net profit of INR 6.30 billion, up 23.9% from INR 5.09 billion a year ago. The company reported revenues of INR 52.77 billion in Apr-Sept, almost flat from INR 52.67 billion a year ago.
In the September quarter, the company's agri machinery segment, which contributed 76% to the company's total revenue, reported revenues of INR 18.84 billion, up from INR 17.89 billion on year. The construction segment, which contributed 15% to the company's total revenue, reported revenues of INR 3.80 billion, down from INR 4.40 billion a year ago. The railway segment, which contributed 9% to the company's total revenue, reported revenues of INR 2.11 billion, down 10% from a year ago.
The company's earnings before interest, tax, depreciation, and amortisation was INR 2.68 billion and the EBITDA margin was 10.8% for the September quarter, almost flat on year. The EBIT margin for the company's agri machinery segment was 9.1% for the September quarter, as against 9.3% a year ago. The company's EBIT margin for the construction segment was 9.3% for the September quarter, as against 9.9% a year ago. The EBIT margin for the company's railway segment for the September quarter was 15.2%, down from 18.5% a year ago.
Escorts Kubota reported its tractor volumes at 25,995 units for the September quarter, down almost 1% on year. The company's domestic tractor volumes barely grew on year, while the tractor export volumes fell 21% on year. The company's construction equipment volumes were at 1,394 units for the September quarter, down 18% on year. On Thursday, shares of the company closed at INR 3,643.65 on the National Stock Exchange, down 2.9% from the previous close. End
Edited by Saji George Titus
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