Escorts Kubota Limited reported a 2.5 per cent year-on-year increase in tractor sales for September 2024, selling 12,380 units compared to 12,081 in September 2023. Domestic tractor sales grew by 5.7 per cent to 11,985 units, while exports fell sharply by 47.1 per cent to 395 units.
The shares of Escorts Kubota Limited were trading at ₹4,223 down by ₹45.80 or 1.07 per cent on the NSE today at 11.30 am.
The company’s construction equipment division, however, experienced a decline. Sales dropped 18.7 per cent year-on-year to 510 machines in September 2024, down from 627 in the same month last year.
Despite the mixed results, Escorts Kubota remains optimistic about future growth. The company cited favourable agricultural conditions, including above-average monsoon rainfall and replenished water reservoirs, as factors likely to boost tractor sales in the second half of the fiscal year.
For the construction equipment sector, Escorts Kubota anticipates a positive impact from the government’s focus on infrastructure development. The company expects a steady increase in business growth post-monsoon season.
These figures include sales numbers from recently merged entities Escorts Kubota India Private Limited and Kubota Agricultural Machinery India Private Limited, following the National Company Law Tribunal’s approval of the merger scheme.