Escorts Ltd reports stellar growth as tractor sales continue to stay strong
4 years, 1 month ago

Escorts Ltd reports stellar growth as tractor sales continue to stay strong

Live Mint  

Escorts Ltd – one of India’s biggest tractor and construction equipment manufacturing companies, on Monday, reported substantial rise in net profit and highest ever operating margin in a decade, for the September quarter, as sales of tractors grew sharply as result of continued recovery in demand for tractors in the rural areas and successful cost cutting methods adopted by the company. The Nikhil Nanda led company’s profit after tax increased by a whopping 119.8% year-on-year to ₹119.8 crore, as a result of a substantial 23.9% y-o-y jump in net sales to ₹1639.7 crore. Due to robust growth in the top-line and reduction in material and manpower cost, the operating profit or the earnings before interest, tax, depreciation and amortization also jumped by 137.4% y-o-y to ₹300.9 crore and operating margins also expanded by 878 basis points to 18.3% during the quarter, highest in a decade. Sales of Escorts’ tractors went up by a massive 23.8% y-o-y to 24441 units and the same in the railway division was also up by 24.4%, during the quarter.

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History of this topic

Escorts Kubota’s outlook hinges on tractor demand
10 months, 1 week ago

Escorts Kubota’s outlook hinges on tractor demand

Live Mint  

Escorts Kubota Ltd’s results for the three months to December caused broking firms to cut earnings estimates. “Considering near-term weakness in tractor volumes and a protracted recovery, we are trimming FY24-26E earnings per share by 1-4%," analysts at Nuvama Institutional Equities wrote in a report on 8 February. The agri machinery products segment, which includes tractors, contributed nearly 71% of …

Escorts Kubota misses Q3 profit view on lower tractor demand
10 months, 2 weeks ago

Escorts Kubota misses Q3 profit view on lower tractor demand

Live Mint  

Indian tractor maker Escorts Kubota Ltd reported a smaller-than-expected third-quarter profit on Thursday, as lower demand offset the fall in costs. The company's standalone net profit rose nearly 49% to 2.77 billion rupees for the three months ended Dec. 31, but fell short of analysts' expectations of 2.82 billion rupees, per LSEG data. Revenue rose 2.5% to 23.20 billion rupees, …

Mahindra Q1 results: Net profit rises 98%, revenue jumps 23%
1 year, 4 months ago

Mahindra Q1 results: Net profit rises 98%, revenue jumps 23%

India Today  

Homegrown auto major Mahindra & Mahindra today reported a growth of 98% year-on-year in standalone net profit at Rs 2,774 crore for the quarter ended June 2023 owing to handsome volumes in both auto and farm sectors. Category Q1 FY24 Q1 FY23 Growth Revenue from operations Rs 24,368 cr Rs 19,813 cr 23% Ebitda Rs 3,547 cr Rs 2,422 cr …

Escorts Kubota Q1 Results: Net profit up 91% YoY to ₹282 crore
1 year, 4 months ago

Escorts Kubota Q1 Results: Net profit up 91% YoY to ₹282 crore

Live Mint  

Escorts Kubota released their April to June quarter results on Tuesday and reported an all-time high net profit of ₹282.8 crore which was 91% up from the ₹147.5 crore reported during the corresponding quarter in the previous fiscal. Sequentially, the company's profit after tax grew 52.5% from ₹185.5 crore during the quarter ending March 2023 and the revenue from operations …

Escorts Kubota reports 9% jump in May sales, sells 9,167 tractor units
1 year, 6 months ago

Escorts Kubota reports 9% jump in May sales, sells 9,167 tractor units

Live Mint  

Escorts Kubota Ltd has announced a 9% increase in vehicle sales for the month of May. The company has sold 9,167 units of tractors in the past month - its highest ever May sales. Domestic tractor sales in May 2023 were at 8,704 tractors registering a growth of 13.5 percent against 7,667 tractors sold in May 2022, the company said. …

Why tractors are winning in rural India
2 years ago

Why tractors are winning in rural India

Live Mint  

What are the chances that someone reluctant to replace a 20-year-old television, a device which only responds to vigorous spanking, will spend a minor fortune to own a new asset? A profit centre Besides higher crop prices and robust government purchases at support prices, several other factors contributed to the post-pandemic growth in tractor sales, said Pushan Sharma, director at …

Tractor Industry in India Registers 42 Percent Growth in December 2020; 60,717 Units Sold
3 years, 11 months ago

Tractor Industry in India Registers 42 Percent Growth in December 2020; 60,717 Units Sold

News 18  

India’s Tractor industry continues to perform remarkably well despite slowdown in most of the other auto sectors of the country. India’s Tractor Industry registered an increase and Y-o-Y sales of massive 41.8 percent by selling 60,717 units in December 2020 as against 42,806 units sold in December 2019. Mahindra and Mahindra along with Swaraj Tractors came out the market leader …

Escorts reaps a good harvest in Q2 as demand perks up
4 years, 1 month ago

Escorts reaps a good harvest in Q2 as demand perks up

Live Mint  

There has been a good pickup in tractor sales in rural India, and it has been driving a sharp improvement in volumes at Escorts Ltd. Escorts also showed an encouraging sequential recovery after sales declined last quarter. In addition, Escorts’ cost reduction plans announced last quarter seems on track. The Escorts stock’s gain on the back of resilient tractor sales, …

Escorts posts 80% YoY growth in tractor volumes in August
4 years, 3 months ago

Escorts posts 80% YoY growth in tractor volumes in August

Live Mint  

MUMBAI: Escorts Ltd reported total wholesales of 7,268 units in August, up 80% year-on-year, owing to robust demand for tractors in the domestic market, the Faridabad-based company said on Tuesday. However, the YoY growth has come on a low wholesale base of 4,035 units from August last year when the farm equipment industry was witnessing its cyclical downturn. Escorts’ domestic …

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