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Informist, Thursday, May 7, 2026

 

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--Escorts Kubota Jan-Mar net profit INR 3.25 bln 
--Analysts saw Escorts Kubota Jan-Mar net profit INR 3.48 bln 
--Escorts Kubota Jan-Mar revenue INR 29.51 bln 
--Analysts saw Escorts Kubota Jan-Mar revenue INR 29.79 bln 
--Escorts Kubota Jan-Mar net profit INR 3.25 bln vs INR 2.98 bln yr ago 
--Escorts Kubota Jan-Mar revenue INR 29.51 bln vs INR 24.30 bln yr ago 
--Escorts Kubota to pay INR 33 per share final dividend 
--Escorts Kubota FY26 net profit INR 24.09 bln vs INR 12.51 bln yr ago 
--Escorts Kubota FY26 revenue INR 114.73 bln vs INR 101.87 bln yr ago 
--Escorts Kubota Q4 agri machinery revenue INR 23.96 bln vs INR 19.75 bln
--Escorts Kubota Q4 construction equipment sales INR 5.56 bln vs INR 4.54 bln 
--Escorts Kubota Jan-Mar EBITDA INR 3.86 bln, up 31.8% on year 
--Escorts Kubota Jan-Mar EBITDA margin 13.1%, up 103 bps on year 
--Escorts Kubota Jan-Mar agri machinery EBIT margin 11.3% vs 11.4% year ago 
--Escorts Kubota Jan-Mar construction ops EBIT margin 12.7% vs 9.1% yr ago 
--Escorts Kubota Jan-Mar tractors capacity utilisation 85% vs 60% yr ago 
--Escorts Kubota Jan-Mar construction equipment capacity utilisation 70% 
 

 

By Ruchira Kagita

 

MUMBAI – Escorts Kubota Ltd.'s profit for the March quarter missed the Street's estimates, while revenue largely met analysts' expectations. The company's profit rose 9% year-on-year to INR 3.25 billion, while sales increased 21% to INR 29.51 billion.

 

The company's net profit was expected to rise 17% on year to INR 3.48 billion, and its revenue was seen increasing 23% to INR 29.79 billion. Excluding a one-time cost of INR 270.80 million incurred in the year-ago quarter, the company's profit growth is flat in the March quarter.

 

The company's earnings before interest, taxes, depreciation, and amortisation rose 32% on year to INR 3.86 billion in the March quarter. The company's EBITDA was capped by a nearly 48% year-on-year increase in its cost of raw materials consumed. Escorts Kubota's EBITDA margin increased 103 basis points year-on-year to 13.1%. Sequentially, the company's margin contracted by 40 basis points. 

 

The cost of materials consumed, which made up almost 72% of its total expenditure, was INR 18.90 billion in the quarter ended March. The 48% year-on-year rise in the cost of materials was the highest in 19 quarters. The company's total expenses rose 20% year-on-year to INR 26.38 billion. 

 

Escorts Kubota's sales of agricultural machinery were INR 23.96 billion in the March quarter, up 21% on year. In the quarter ended March, Escorts Kubota underperformed the industry by 9.8 percentage points in tractor volumes, the company said in a press release. Escorts Kubota's tractor volumes grew 21.1% on-year, while the industry grew 30.9% during the quarter. 

 

The company's revenue from construction equipment in the March quarter was INR 5.56 billion, up from INR 4.54 billion a year ago. In the segment, Escorts Kubota said it beat the industry's growth by 5.3 percentage points. The company's volumes grew 9.2% on-year, while the industry volume increased only 3.9%.

 

The EBIT margin of the agricultural machinery segment was 11.3%, down from 11.4% a year ago. The EBIT margin of its construction operations was 12.7%, up from 9.1% a year ago. 

 

The company's EBIT for the quarter under review was INR 4.39 billion, down 16% sequentially, primarily due to an adverse product mix in its agricultural machinery business. Further, lower non-operating income and weak operating leverage in the construction equipment segment also affected its EBIT. 

 

Escorts Kubota's tractor export volumes fell 1% on-year during the quarter to 1,813 units compared with the industry growth of 2%.
 

The company's market share in mini excavators, compactors, and backhoe loaders declined. The company's pick-and-carry cranes accounted for 43.7% of the total market share, and this share increased year-over-year and quarter-over-quarter. Meanwhile, the capacity utilisation of construction equipment in the reporting quarter was 70%. On the other hand, the company utilised 85% of its agricultural machinery product capacity. 

 

In 2025–26 (Apr-Mar), Escorts Kubota reported a net profit of INR 24.09 billion, up by a staggering 93% on year, while its revenue from operations grew 13% to INR 114.73 billion. During FY26, the company's tractor volumes grew 15.7% compared with industry growth of 21.9%. During the year, its construction equipment volumes fell 10.6%, compared with the overall industry decline of 6.9%.  

 

The company said it will pay a final dividend of INR 33 per share.

 

Thursday, Escorts Kubota's shares closed 0.9% higher at INR 3,345.90 on the National Stock Exchange. The company released its March quarter earnings during market hours, and share prices rose briefly, reacting to the results before paring some gains.  End

 

Edited by Saji George Titus

 

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