Escorts Kubota Limited — Important, 01-12-2024: Monthly Business Updates

Escorts Kubota Limited's Agri Machinery Business Division reported sales of 8,974 tractors in November 2024, a decrease from 9,906 tractors sold in November 2023. Domestic sales fell to 8,730 tractors from 9,503 tractors, attributed to the shift of major festive days to October this year. However, overall domestic tractor sales from September to November rose by 9% to 38,554 tractors compared to 35,387 tractors in the same period last year. Export sales also declined, with 244 tractors sold versus 403 in the previous year. Looking ahead, the company expects growth momentum to sustain throughout the fiscal year driven by favorable macroeconomic conditions, increased Minimum Support Price (MSP), improved terms of trade, and higher water reservoir levels.

In the Construction Equipment Business Division, 481 machines were sold in November 2024, down from 557 machines in the same month last year. Market challenges include monsoons, project delays, and low rental rates. Future prospects appear optimistic due to anticipated government support and forthcoming changes in emission regulations.