Escorts Kubota Limited has informed the Exchange about Earning Presentation on the Unaudited Financial Results (Standalone and Consolidated) for the period ended September 30, 2025.
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Escorts Kubota reported strong Q2 FY26 results with standalone revenue of ₹2,777.4 crore, up 22.6% year-on-year and 11.8% sequentially, driven by a 30.3% jump in tractor volumes to 33,877 units. EBITDA surged 56% YoY to ₹363.2 crore, with margins expanding 280 basis points to 13.1%, helped by lower material costs and operating leverage in the agri machinery segment. Normalised profit after tax rose 51.7% YoY to ₹321.2 crore (reported PAT up only 6.1% YoY due to prior-year base effect). However, the construction equipment business remains weak, with volumes falling 17.8% YoY and segment EBIT margin compressing 549 bps to 3.8%. For H1 FY26, consolidated revenue grew 9.1% to ₹5,291.6 crore with EBITDA margin improving 164 bps to 12.9%. The reported PAT for H1 was inflated by a one-time gain from the ₹1,600 crore slump sale of the railway equipment division to Sona Comstar, completed in Q1 FY26. Domestic tractor market share inched up to 11.8% while export volumes grew 26.2% YoY in Q2.
Strong tractor volume growth and significant margin expansion in the core agri machinery business are positive for shareholders, signalling pricing power and operating leverage. However, the persistent weakness in construction equipment and the lumpy nature of the headline PAT (boosted by the railway division divestiture) warrant attention to normalised earnings for a clearer picture of underlying business health.