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Informist, Saturday, Feb. 1, 2025

 

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--Escorts Kubota Jan tractor sales 6,669 units, down 6.7% on year 
--Escorts Kubota Jan tractor exports 611 units, up 66% on year 
--Escorts Kubota Jan domestic tractor sales 6,058 units, down 10.7% on year 
--Escorts Kubota Apr-Jan tractor sales 95,590 units, down 1.2% on year 
--Escorts Kubota: See demand rising on better rabi sowing, festive period 
--Escorts Kubota: See demand rising ahead as we approach harvesting season 
 

 

MUMBAI – Escorts Kubota Ltd. sold 6,669 tractors, including exports, in January, 7% lower compared to the same month last year, marking its third consecutive monthly fall. Although on a low base, exports grew at a much faster rate in the first month of this year, the company said in an exchange filing Saturday. In Apr-Jan, the company's tractor sales fell 1.2% on-year to 95,590 units.

 

At 0930 IST, shares of the company fell 3.8% to INR 3,501.3 on the National Stock Exchange, while the benchmark indices were up roughly 0.1%.

 

In India, Escorts Kubota's agri machinery business division sold 6,058 tractors in January, nearly 11% lower on-year. "Moving forward, with enhanced rabi sowing and as we approach harvesting season and the festive period, we expect an increase in demand momentum in our key markets," the company said. In Apr-Jan, the company sold 91,820 tractors in India, largely unchanged year-on-year. 

 

Exports by the company shot up to 611 tractors in January, 66% higher than the 368 tractors sold in the corresponding period a year ago. In the first 10 months of the ongoing financial year, the company exported 3,770 tractors, 19% lower than the year-ago period. 

 

The company's construction equipment sales in January fell 1.8% on-year to 544 units. "Construction Equipment (CE) industry may experience a short-term impact of the price escalation due to BSV changeover, however medium and long term growth momentum is expected to continue led by government spending on infrastructure projects, including Roads, Smart cities, Railways and irrigation projects," the company said in a statement. In Apr-Jan, the company's construction equipment sales fell 7.5% on-year to 5,309 units.

 

The company had reported a net profit of INR 3.27 billion for the September quarter on revenue of INR 24.76 billion.  End

 

Reported by Anand JC

Edited by Namrata Rao

 

 

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