Escorts Kubota Limited announced its Unaudited Financial Results for the quarter and nine months ended December 31, 2025. For Q3 FY26, Revenue from Operations (Standalone Continuing Operations) grew by 11.1% YoY to ₹3,261.4 Crore, while EBIDTA increased by 30.9% YoY. Tractor volumes saw a strong increase, with EKL volume growth of 13.5% compared to the industry’s 22.9% growth, albeit with a 9.4% variance against the industry.
Q3 FY26 Standalone Financial Performance (Continuing Operations)
Escorts Kubota Limited reported robust performance for the third quarter of Fiscal Year 2026 (ending December 31, 2025). Revenue from Operations on a standalone continuing basis grew by 11.1% YoY, reaching ₹3,261.4 Crore, and showed a 17.4% sequential growth (QoQ). EBIDTA surged by 30.9% YoY to ₹438.7 Crore, expanding the margin by 203 basis points (bps) YoY to 13.5%.
Adjusted Profit After Tax (PAT) for the quarter stood at ₹401.6 Crore, marking a substantial 38.3% YoY increase. Basic Earning Per Share (EPS) was reported at ₹32.93.
Tractor Volume Analysis (Q3FY26 YoY)
The total tractor volume saw EKL growth of 13.5%, slightly lagging the overall industry growth of 22.9%, resulting in a -9.4% variance. While Domestic Tractor Volume grew by 12.0% YoY against 23.2% industry growth, Export Tractor Volume showed exceptional performance, growing by 62.9% YoY compared to 20.1% industry growth, yielding a positive variance of 42.9%.
Construction Equipment Performance (Q3FY26 YoY)
The Served Construction Equipment Volume for EKL saw a contraction of 13.7% YoY, against an industry decline of -15.6%, resulting in a positive variance of 1.9%. Mini Excavator volumes grew by 20.8% YoY, while Compactor Volume saw a sharp decline of -84.0% YoY.
Nine Months (9M) FY26 Standalone Highlights
For the nine months ended December 31, 2025, Total Tractor Volume growth was 14.0% YoY, tracking the industry growth of 19.3% (-5.3% variance). Revenue from Operations for the 9M period grew by 9.9% YoY to ₹8,522.1 Crore. EBIDTA rose by 27.3% YoY to ₹1,127.0 Crore.
Adjusted PAT for 9MFY26 reached ₹1,030.3 Crore, demonstrating a 34.1% YoY growth. EPS for the 9M period was ₹96.00.
Segmental Performance Snapshot
Agri Machinery Products
The Agri Machinery segment remains the dominant revenue contributor, accounting for 85% of revenue in Q3FY26 (₹2,769.6 Crore revenue). YoY revenue growth for this segment was strong at 14.6%. Capacity utilization for Tractors was maintained at approximately ~75% for both Q3 and 9M periods.
Construction Equipment
The Construction Equipment segment contributed 15% of Q3FY26 revenue (₹489.9 Crore). Capacity utilization for this division was approximately ~60% in Q3, down from the previous year, correlating with a -5.0% YoY revenue decline.
Shareholding Trend Update (as of Dec’2025)
The shareholding pattern as of December 2025 showed steady promoter holding at 68.04%. Institutional holding showed a steady increase over the year, reaching 17.45% in December 2025, while Public shareholding reduced to 12.85%.
Accounting and Operational Notes
The presentation clarifies that financial figures have been restated to reflect the Scheme of Amalgamation effective April 1, 2023. Furthermore, figures are adjusted for the impact of the new labour code in Q3 FY26. The company also noted the sale/transfer of its ‘RED Business’ (Railway Equipment) under discontinued operations.
Source: BSE
