Q4 & FY26 earnings call transcript submitted
ESCORTS · price
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Escorts Kubota reported FY26 revenue of INR11,472.8 cr (up 12.6% YoY), highest ever EBITDA of INR1,513 cr (up 28.5%), margin at 13.2% (up 163 bps), and PAT of INR1,380.9 cr (up 24.4%). Record tractor volumes of 1,33,670 units. Total dividend of INR51/share, up 82% YoY. Management guided FY27 tractor industry to be flattish, with H2 de-growth on high base, El Nino risks, and 5-6% commodity cost inflation. Took 1.5% price hike in April. Capex of INR350-400 cr plus INR500 cr greenfield. Targets INR500-1,000 cr component exports to Kubota by FY30.
Strong FY26 results and record dividend, but FY27 outlook cautious — high base, monsoon risks, and commodity inflation likely to pressure margins.