Escorts

Manish Sharma, the former Panasonic India Chairman & CEO, has joined farm- and construction-equipment major Escorts Kubota, according to a regulatory filing. Sharma, a veteran consumer durables and manufacturing executive, has joined as President of Escorts Kubota's Agri Business, the company's largest business segment. He will be responsible for the Tractor Business Division, Agri Solutions Business Division and Service and Spare Parts Business Division in domestic and international markets, Escorts Kubota said in a regulatory filing on Monday. This move marks a new chapter for Sharma, who has over three decades of experience in the appliances and consumer electronics industry, including a 17-year long leadership role at Panasonic India. His appointment comes at a time when Escorts Kubota is sharpening its focus on technology-led farm mechanisation, exports and premiumisation of its tractor portfolio amid increasing competition in the agricultural machinery sector. Founded by ..

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Escorts Kubota reported consolidated profit after tax (PAT) grew 18 per cent to ₹320.5 crore, as compared to ₹271.6 crore in the year-ago period

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The Yamuna Expressway Industrial Development Authority (YEIDA) has allotted around 200-acre land to Escorts Kubota Limited for setting up a Rs 4,500 crore tractor manufacturing unit. The company had signed an MoU with the Uttar Pradesh government on August 17, 2024 for the tractor manufacturing facility. It has been allotted land in Sector-10 of YEIDA, an official statement said on Monday. Under the project, Escorts Kubota will invest Rs 4,500 crore and create employment for 4,000 people in a phased manner. "In the first phase, with an investment of Rs 2,000 crore, the company will develop a tractor plant, a commercial equipment plant, and allied facilities. The second phase will be scaled up depending on market demand and the capacity utilization of the first phase," it said. Through this plant, Escorts Kubota will not only cater to domestic needs but also serve global markets. Additionally, the company plans to establish shared services for Kubota's global research and developmen

Farm machinery and construction equipment major Escorts Kubota Ltd is gunning for the number two spot in the Indian tractor market by combining the Indian firm's cost competitiveness with the Japanese partner's technology and quality strengths as part of its future plans, according to its top officials. The company, formed after Japan's Kubota Corporation acquired a majority stake in Escorts Ltd in a multi-structured merger deal announced in 2021, is working to finalise a mid-term plan (MTP) for up to 2031 with a slew of products planned to be launched, Escorts Kubota Ltd (EKL) Chairman and MD Nikhil Nanda and Deputy MD Seiji Fukuoka told PTI in a joint interview. "In the next four to five years between the three brands -- Farmtrac, Powertrac and Kubota -- I think the success is going to come from the new products that we are going to be launching. Lot of work has happened, and a lot of product lines are planned for introduction between now and the next five years...," Nanda said ...

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The company earnings before interest, tax, depreciation, and amortisation (Ebitda) for the third quarter stood at Rs 335.3 crore, up 3.6 per cent as against Rs 323.8 crore in the corresponding quarter

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Farm and construction equipment manufacturer Escorts Kubota Ltd plans to invest up to Rs 4,500 crore over the next three to four years to set up a new manufacturing plant, according to its whole-time director and CFO Bharat Madan. The company is currently in talks with the Rajasthan government for a site at Ghiloth, where it intends to set up the greenfield plant to double its domestic tractor production capacity to 3.4 lakh units annually, while also setting up new engine and construction equipment lines in phases. "The greenfield plant will involve doubling tractor production capacity, setting up a new engine line and a construction equipment line in phases. Overall, the greenfield project may cost Rs 4,000 crore to Rs 4,500 crore over the next three-four years," Madan told PTI. He further said, "This year we expect to procure land which may cost Rs 400 crore to Rs 450 crore and then start construction by the end of this fiscal. At present, the company has a total annual tractor

The acquisition of Escorts in 2022, leading to the rebranding as Escorts Kubota, offered Kubota a crucial foothold in the Indian and international markets by offering cost-effective manufacturing

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Volumes in the tractor segment for the last three quarters of the current financial year (9MFY24) have remained weak

The company expects a 6-7 per cent volume decline for the overall tractor industry in FY24 and a weak Q1FY25 if elections are declared during the said period.

The company's standalone net profit rose nearly 49% to 2.77 billion rupees (about $33 million) for the three months ended Dec. 31, but fell short of analysts' expectations of 2.82 billion rupees

Year-to-date sales for construction equipment registered a 56.7 per cent rise as the sales zoomed from 1,883 units during Apr-Sep 2022, to 2,950 units for Apr-Sep 2023

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Analysts believe the on-going rally across tractor stocks may face headwinds from spatial distribution of monsoon across the country, which could keep sentiments in check

With further advancement of monsoon across the country, adequate reservoir levels, better liquidity, and consumer credit availability, the management expects the demand momentum to improve.