ESCORTS

Escorts Kubota share price & financials

Price
₹2,937
Market cap
₹34.5k Cr
Sector
Capital Goods
Calls analysed
6
Latest concall · Q1 FY27 · call held 03 Aug 2026

Escorts Kubota Limited Q1 FY27

Consolidated Revenue ₹3,207.6 cr +28%Consolidated EBITDA ₹354.5 cr +10%Consolidated EBITDA Margin 11.05% Consolidated Net Profit ₹385.9 cr +5%

What went well

  • Consolidated Revenue from continuing operations grew 28.3% YoY to INR3,207.6 crores, driven by strong demand.
  • Domestic tractor sales volume increased 22.9% YoY to 35,457 units, outperforming industry growth of 18.6% and gaining 36 basis points of market share.
  • Construction Equipment segment revenue grew 39.2% YoY to INR419.6 crores, with total volumes up 27.4% YoY to 1,344 machines.

What to watch

  • Consolidated EBITDA margin compressed to 11.2% (vs 13.1% YoY) due to commodity cost inflation and geopolitical tensions.
  • Tractor Business faced a ~5% cost impact, with an additional 1.5-2% pressure expected in Q2, which will not be fully offset by price hikes.
Read the full call →

What Escorts Kubota Limited does

Escorts Kubota Limited manufactures and sells agricultural tractors and construction equipment in India under a trademark and technology licensing arrangement with parent Kubota Corporation of Japan. Its Agri Machinery Products segment covers the core tractor business plus a non-tractor business spanning agri solutions, engines, spare parts and service, and global sourcing. Its Construction Equipment segment makes pick-n-carry cranes, backhoe loaders, mini excavators and compactors. The company exports India-made, "Make in India" products through Kubota's global distribution network, and during FY26 it divested its erstwhile railway equipment business, which is now reported as discontinued operations.

Segments

  • Agri Machinery Products
  • Construction Equipment
Majority parent
Kubota Corporation (Japan)
Trademark & technology license
Operates under a trademark and technology licensing arrangement with Kubota Corporation
Non-tractor business lines
Agri solutions, engines, spare parts & service, global sourcing
Construction equipment product lines
Pick-n-Carry cranes, backhoe loaders, mini excavators, compactors
Kubota-brand tractor model
K3R5
Export channel
Exports India-made products via Kubota's global distribution network
Founded 1944Headquarters Faridabad, Haryana, India Company website

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 0 delivered 0 missed 15 open
  • Greenfield Plant Land Acquisition Timeline delayed said Q3 FY25 Promised: Complete acquisition by January end (FY25) Q1 FY27: Land is allotted and payment has been made. Capex of INR 450-500 cr earmarked for this.
  • Tractor Export Volume Growth revised down said Q4 FY25 Promised: 20% to 25% growth this year over last year Q1 FY27: Promise for FY26 has concluded. No final number for FY26 was provided. New guidance for FY27 is 'flattish'.
  • Greenfield Plant Operational Timeline delayed said Q4 FY25 Promised: End of February '28 or '29 beginning Q1 FY27: Groundbreaking for the plot expected to happen this month (August 2026).

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 28.0%, net profit down 72.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue2,265 2,935 2,430 2,483 2,777 +23%3,261 +11%2,951 +21%3,179 +28%
EBITDA233 335 293 325 363 +56%439 +31%386 +32%355 +9%
Net profit327 323 298 1,400 321 −2%362 +12%325 +9%387 −72%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −21.2% 1Y

₹3.0k₹3.5k₹4.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 4 Nov 2025Q3 FY26 — 10 Feb 2026Q1 FY27 — 3 Aug 2026

1Y: ₹3,677.7 on 10 Sept 2025 → ₹2,899.7. High ₹3,962.1 (5 Jan 2026), low ₹2,724.7 (11 Jun 2026).

How the price took the results

close before → close after

Q1 FY27
+1.6%
3 Aug
Q3 FY26
+1.2%
10 Feb
Q2 FY26
−0.6%
4 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 11.0% a year over 3 years, FY23 to FY26. Operating margin widened to 13.2%.

Year endingFY23FY24FY25FY26
Revenue₹8.4k Cr₹9.8k Cr₹10.2k Cr₹11.5k Cr
Operating profit₹762 Cr₹1.2k Cr₹1.2k Cr₹1.5k Cr
Operating margin9.1%12.4%11.6%13.2%
Interest₹12 Cr₹33 Cr₹27 Cr₹19 Cr
Depreciation₹150 Cr₹213 Cr₹242 Cr₹253 Cr
Net profit₹606 Cr₹1.1k Cr₹1.3k Cr₹2.4k Cr
Net margin7.2%10.9%12.3%21.0%
Cash from operations₹236 Cr₹795 Cr₹1.2k Cr₹1.5k Cr
Free cash flow₹22 Cr₹528 Cr₹970 Cr₹1.2k Cr
ROCE11.0%14.0%11.0%14.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹135 Cr₹132 Cr₹132 Cr₹110 Cr₹112 Cr₹112 Cr
Reserves₹5.3k Cr₹7.7k Cr₹8.3k Cr₹9.3k Cr₹11.8k Cr₹12.3k Cr
Borrowings₹58 Cr₹52 Cr₹57 Cr₹444 Cr₹104 Cr₹125 Cr
Other liabilities₹1.8k Cr₹1.4k Cr₹1.8k Cr₹2.5k Cr₹3.1k Cr₹3.2k Cr
Total liabilities₹7.2k Cr₹9.4k Cr₹10.3k Cr₹12.4k Cr₹15.1k Cr₹15.8k Cr
Fixed assets₹1.8k Cr₹1.8k Cr₹1.9k Cr₹2.2k Cr₹2.1k Cr₹2.1k Cr
Capital work in progress₹64 Cr₹88 Cr₹114 Cr₹161 Cr₹141 Cr₹200 Cr
Investments₹2.3k Cr₹5.1k Cr₹5.0k Cr₹5.1k Cr₹7.0k Cr₹8.4k Cr
Other assets₹3.1k Cr₹2.3k Cr₹3.3k Cr₹5.0k Cr₹5.8k Cr₹5.0k Cr
Total assets₹7.2k Cr₹9.4k Cr₹10.3k Cr₹12.4k Cr₹15.1k Cr₹15.8k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs added +1.14 pp while DIIs trimmed −0.78 pp.

Promoters
68.0%
FIIs
6.4%
DIIs
10.7%
Public
13.3%
Others
1.6%

Since Jun 2025

  • FIIs +1.14 pp
  • DIIs −0.78 pp
  • Public −0.35 pp

How it drifted, 12 quarters

Over this window DIIs went from 9.3% to 10.7% — +1.3 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 67.7%, FIIs 6.7%, DIIs 9.3%, Public 14.4%, Others 1.9%.Dec '23: Promoters 67.7%, FIIs 5.0%, DIIs 10.5%, Public 14.9%, Others 1.9%.Mar '24: Promoters 67.7%, FIIs 5.8%, DIIs 9.8%, Public 14.9%, Others 1.9%.Jun '24: Promoters 67.7%, FIIs 6.4%, DIIs 10.4%, Public 13.8%, Others 1.7%.Sep '24: Promoters 68.0%, FIIs 6.3%, DIIs 10.2%, Public 13.7%, Others 1.7%.Dec '24: Promoters 68.0%, FIIs 5.9%, DIIs 10.2%, Public 14.2%, Others 1.7%.Mar '25: Promoters 68.0%, FIIs 5.2%, DIIs 11.3%, Public 13.7%, Others 1.7%.Jun '25: Promoters 68.0%, FIIs 5.2%, DIIs 11.4%, Public 13.6%, Others 1.7%.Sep '25: Promoters 68.0%, FIIs 5.3%, DIIs 11.8%, Public 13.2%, Others 1.7%.Dec '25: Promoters 68.0%, FIIs 5.3%, DIIs 12.2%, Public 12.9%, Others 1.7%.Mar '26: Promoters 68.0%, FIIs 5.7%, DIIs 11.7%, Public 12.9%, Others 1.6%.Jun '26: Promoters 68.0%, FIIs 6.4%, DIIs 10.7%, Public 13.3%, Others 1.6%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Escorts Kubota Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Kubota Corporation, Japan 54.07%unchanged
Har Parshad And Company Private Limited 9.59%unchanged
HDFC Mutual Fund - HDFC Nifty Large Midcap 250 Ind Mutual fund6.94%newly disclosed
Big Apple Clothing Private Limited 1.58%unchanged
Rekha Jhunjhunwala 1.53%unchanged
Aaa Portfolios Private Limited 1.51%unchanged
Amansa Holdings Private Limited FPI fund1.39%newly disclosed
Nikhil Nanda 1.08%unchanged
Nitasha Nanda 0.17%unchanged
Navya Naveli Nanda 0.02%unchanged
Shweta Nanda 0.02%unchanged
Agastya Nanda 0.01%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in ESCORTS

Filings to Aug 2026

1 new, 6 added, 3 trimmed, 0 sold out — net −2.31 L shares (−5.7%).

Held by funds
₹1.2k Cr
21 schemes
Biggest holder
HDFC Flexi Cap Fund
₹370 Cr · 0.3% of that fund
SchemeHoldingLast month
HDFC Flexi Cap Fund HDFC Mutual Fund₹370 Crheld
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹256 Crheld
HDFC Multi Cap Fund HDFC Mutual Fund₹119 Crheld
Nippon India Small Cap Fund Nippon India Mutual Fund₹118 Crheld
HDFC Manufacturing Fund HDFC Mutual Fund₹117 Crheld
HDFC ELSS Tax saver HDFC Mutual Fund₹83 Cr−2.31 L
HDFC Transportation and Logistics Fund HDFC Mutual Fund₹31 Crheld
HDFC Infrastructure Fund HDFC Mutual Fund₹20 Cr−0.13 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

6 added, 3 trimmed — net −2.31 L shares (−5.7%)

Funds are sitting on
-15%
vs est. average cost
Held by funds
₹1.2k Cr
21 schemes · ≈ 3.3% of the company
Biggest holder
HDFC Flexi Cap Fund
₹370 Cr · 0.3% of that fund
Longest holder
Nippon India ETF Nifty Midcap 150
7y 8m · since Jan '19

Shares held by these funds +364%

Aug '23 38.36 L shares Jul '26

What the price assumes

Attractive

To justify its price of ₹2900, this stock must grow earnings at 19% every year for 7 years. Our analysis caps realistic growth at ~35%. At that growth it is worth ₹6500 — upside of 124%.

Growth the price implies
19.2% a year
for 7 years, fading to 4%
It has actually compounded at
28.2% a year
net profit, FY23–FY26 · EPS 35.5%
The gap
-0.2 pp
124% downside if it only repeats history
Price today ₹2,899.7 Value at the reference growth ₹6,499.93

Change the assumptions yourself →

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Escorts Kubota Limited

Guides on how to read this kind of business and the numbers that matter.