While domestic sales also slipped 12.48% to 5,016 units in December 2024 as compared with 5,731 units sold in December 2023. However, we anticipate an increase in demand momentum driven by kharif procurement, robust rabi sowing, and enhanced water levels in reservoirs.
The company’s exports jumped 12.59% to 456 units in December 2024 as against 405 units posted in December 2023.
Further, the company’s construction equipment business division sold 873 machines in December 2024, registering the highest ever monthly sales growth of 10.7% from 792 machines sold in December 2023.
Driven by upcoming emission standards in January 2025 and an expected capex push from the government, the CE industry is set for a favorable trend, though short-term demand may be impacted by cost increases.
Escorts Kubota is primarily engaged in the business of manufacturing agricultural tractors, engines for agricultural tractors, construction, earth moving and material handling equipment, round and flat tubes, heating elements, and double acting hydraulics.
The tractor maker's standalone net profit grew 53.2% to Rs 326.70 crore on a 0.5% rise in revenue from operations to Rs 2,476.16 crore in Q2 FY25 over Q2 FY24.