Escorts Kubota Limited has submitted a Revised Earning Presentation detailing Unaudited Financial Results for both Standalone and Consolidated figures for the quarter and nine months ended December 31, 2025. Key standalone Q3 highlights show Tractor Volume growth of 13.5% YoY, while Construction Equipment Volume declined 13.7% YoY. The company also detailed significant changes related to the recent amalgamation and the divestment of the RED Business.
Revised Financial Presentation Filed
Escorts Kubota Limited (EKL) has formally shared its Revised Earning Presentation covering the Unaudited Financial Results for the quarter and the nine months ended December 31, 2025. This revision follows crucial corporate actions, including the amalgamation with Kubota Agricultural Machinery India Private Limited, effective from April 1, 2023, and the slump sale of the Railway Equipment Division (RED Business) which concluded in June 2025.
Standalone Performance Highlights (Q3 FY26 YoY)
Performance during the third quarter showed mixed results compared to the previous year:
- Tractor Volumes: EKL achieved a 13.5% growth in Total Tractor Volume, lagging behind the Industry Growth of 22.9%. Export Tractor Volume saw substantial growth at 62.9% against an industry growth of 20.1%.
- Construction Equipment Volumes: Served Construction Equipment Volume declined by 13.7% YoY, largely driven by a severe drop in Compactor Volume (-84.0% EKL Growth).
- Financial Metrics (Continuing Operations): Revenue from Operations grew 11.1% YoY to ₹3,261.4 Crore. EBIDTA rose significantly by 30.9% YoY to ₹438.7 Crore, reflecting Lower Material Cost and Operating leverage in Agri Machinery Segment. Adjusted Profit After Tax (PAT) increased by 38.3% YoY to ₹401.6 Crore.
- Capacity Utilization: Tractors stood at ~75%, while Construction Equipment utilization was around ~60%.
Standalone Performance Highlights (9M FY26 YoY)
For the nine-month period:
- Tractor Volumes: Total Tractor Volume grew by 14.0% to 1,01,413 units, mirroring an industry growth of 19.3%.
- Revenue and Profit: Revenue from Operations grew by 9.9% to ₹8,522.1 Crore. EBIDTA showed strong growth of 27.3% to ₹1,127.0 Crore. Adjusted PAT grew by 34.1% to ₹1,030.3 Crore.
- Drivers: EBIT growth was supported by Higher non-operating income, Softening in commodity prices, and Operating Leverage in Agri Machinery Segment.
- Capacity Utilization: Tractors utilization remained strong at ~75%, while Construction Equipment utilization settled at ~40%.
Segmental Review and Key Ratios
Agri Machinery Products
Revenue for the segment grew 14.6% YoY in Q3FY26. The EBIT margin improved significantly by 310 bps YoY, reaching 13.5%. Notably, the ratio of Less than 40 HP to Greater than 40 HP tractors was 34:66 in Q3FY26, in line with the previous year. Export volumes through the Kubota channel accounted for approximately 68% of total export volume in Q3FY26.
Construction Equipment
The Construction Equipment division faced volume challenges, with volumes down 13.7% YoY in Q3FY26. Revenue was ₹489.9 Crore, a 5.0% decrease YoY. Capacity Utilization decreased to ~60% in Q3FY26, down from ~75% in Q2FY26. Despite revenue pressures, ROCE (Annualized) saw massive growth, hitting 200.2% in Q3FY26.
Shareholding Pattern
The shareholding structure remained stable through the end of December 2025. Promoters held a consistent 68.04% stake. Institutional shareholding saw a steady increase throughout the year, rising from 16.10% in December 2024 to 17.45% in December 2025. The Public share decreased from 14.18% to 12.85% over the same period.
Notes on Restatements
The company provided two critical notes regarding the figures presented. First, the figures include the impact of the amalgamation approved by NCLT. Second, the RED Business (Railway Equipment) has been reclassified as a discontinued operation following its sale to Sona Comstar, completed in June 2025.
Source: BSE
