Escorts Kubota Limited (ESCORTS)

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Escorts Kubota Limited (ESCORTS) · mywealthgrid

About

Escorts Kubota manufactures tractors for agricultural, commercial, and construction use in India. With market cap of ₹34,842.3 Cr, company shows strong profitability (ROE 21.06%, D/E 0). Recent quarters display stable revenue (₹2.8–₹3.2 Cr quarterly), but operating margins compressed from 13.45% to 11.05%, signaling cost pressure.

Founded: 1949
Face value: ₹10

Market cap

₹29,847 Cr

P/E

21.6×

P/B

2.4×

Dividend yield

2.6%

ROE

21.1%

ROCE

15.4%

Debt / equity

OPM

13%

EPS (TTM)

₹123.6

Book value

₹1,105.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin compression: OPM fell from 13.45% (Dec 2025) to 11.05% (Jun 2026), signaling cost pressures.
Stock weakness: Down 7.14% over 12 months, trading near 52w lows (₹2,724.7 vs. ₹3,962 high).
Tractor-demand cyclicality: Dependent on farm income, monsoons, rural credit; verify current conditions.
Competitive pressure: Verify market-share dynamics and pricing trends in tractor sector.

Generated analysis · source review pending

Growth drivers

Margin recovery: OPM declined from 13.45% (Dec 2025) to 11.05% (Jun 2026); reversal expands profits on steady ₹3.2 Cr quarterly revenue.
Financial strength: ROE 21.06% and D/E 0 enable capital deployment; verify expansion or capex plans.
Tractor-demand recovery: Verify farm-income growth and rural credit expansion support volume gains.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹2,667.3-1.4%1Y

Quick read

rule-based

Pros

+Profit CAGR of 22.4% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 88.5×
+Dividend yield of 2.6%
+Dividend payout of 55.8% of profit
+High promoter holding of 68% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

63/100

Business quality: 65
Growth: 61
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 150 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	13	4,220	5,080	6,262	5,810	7,014	7,238	8,429	8,850	10,244	11,540
COGS	—	2,831	3,407	4,277	3,841	4,645	4,979	6,123	6,087	7,255	8,035
Gross profit	—	1,388	1,673	1,985	1,969	2,370	2,260	2,306	2,762	2,989	3,505
	—	1,079	1,119	1,261	1,308	1,244	1,338	1,536	1,579	1,825	2,009
	—	310	554	725	661	1,126	922	770	1,183	1,164	1,496
OPM %	—	7.3%	10.9%	11.6%	11.4%	16.1%	12.7%	9.1%	13.4%	11.4%	13%
Depreciation	—	63	73	87	107	118	132	150	167	244	255
Interest	—	32	29	20	17	13	15	13	14	29	20
	—	58	59	98	88	160	218	228	399	601	1,618
Profit before tax	—	—	—	—	625	1,155	993	835	1,401	1,492	2,838
Tax	—	77	162	237	154	283	257	198	352	227	444
Tax %	—	—	—	—	24.6%	24.5%	25.9%	23.7%	25.1%	15.2%	15.7%
	-3	131	347	478	472	872	736	637	1,049	1,265	2,394
PAT margin %	-25.8%	3.1%	6.8%	7.6%	8.1%	12.4%	10.2%	7.6%	11.9%	12.4%	20.8%
EPS (₹)	—	20.9	41.6	55.7	55	92.2	74.1	58.9	96.8	115	217.6
EPS adjusted (₹)	-0.3	10.7	28.3	39.1	38.5	64.6	55.8	48.3	94.9	113.1	214
	—	7.2%	4.8%	4.5%	4.5%	8.1%	9.5%	11.9%	18.6%	40%	15.2%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	123	123	123	123	123	135	132	132	111	112	112
Reserves	1,640	1,498	2,093	2,900	—	4,891	7,468	8,055	9,066	10,255	12,261
Minority interest	—	2	—	—	—	—	—	—	—	—	—
	426	218	284	269	—	3	0	0	4	2	36
	1,138	1,359	1,474	1,705	—	1,850	1,508	1,899	2,086	2,729	3,390
Total equity & liabilities	3,326	3,199	3,973	4,997	—	6,878	9,108	10,085	11,267	13,098	15,799
	1,544	1,558	1,565	1,607	1,646	1,684	1,724	1,811	1,816	2,053	2,146
CWIP	19	27	48	53	—	84	91	69	116	123	161
Investments	406	173	499	857	—	2,008	4,918	4,846	5,275	5,605	8,281
	1,357	1,442	1,862	2,480	—	3,103	2,375	3,358	4,060	5,317	5,211
Total assets	3,326	3,199	3,973	4,997	—	6,878	9,108	10,085	11,267	13,098	15,799

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Agri machinery products	9,841.19	1,226.94	5,121.26	2,639.7	2,481.56	49.44
Construction equipments	1,685.92	133.06

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	31.7%	33.9%	33.8%	31.2%	27.4%	31.2%	29.2%	30.4%
EBITDA margin %	11.6%	11.4%	16.1%	13.1%	9.2%	13.2%	11.4%	13%
EBIT margin %	10.2%	9.6%	14.4%	11.3%	7.4%	11.3%	9%	10.8%
PAT margin %	7.6%	8.1%	12.4%	10.2%	7.6%	11.9%	12.4%	20.8%
Working capital
Receivable days	54	—	34	40	51	48	47	38
Inventory days	70	—	56	62	73	73	70	67
Payable days	103	—	94	66	75	72	83	100
NWC days	21	—	-3	37	49	49	35	5
Leverage
Current ratio	1.44	—	2.73	5.02	2.85	3.14	2.74	3.25
Debt to EBITDA	0.37	—	0	0	0	0	0	0.02
Debt to equity	0.09	—	0	0	0	0	0	0
Interest coverage	37.3	37.9	87.6	69.3	68.5	101.9	47.4	88.5
Asset turnover	1.25	—	1.02	0.79	0.84	0.79	0.78	0.73
Return ratios
Return on assets %	9.6%	—	12.7%	8.1%	6.3%	9.3%	9.7%	15.2%
Return on capital employed %	26.9%	—	22.5%	16%	11.3%	15.7%	13.8%	15.4%
Return on equity %	15.8%	—	17.3%	9.7%	7.8%	11.4%	12.2%	19.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.64%	67.64%	67.64%	67.64%	68.04%	68.04%	68.04%	68.04%	68.04%	68.04%	68.04%	68.04%
	6.69%	5.02%	5.85%	6.43%	6.32%	5.89%	5.21%	5.22%	5.27%	5.25%	5.72%	6.36%
	9.35%	10.54%	9.76%	10.37%	10.21%	10.2%	11.34%	11.43%	11.8%	12.2%	11.65%	10.65%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	14.4%	14.9%	14.88%	13.83%	13.73%	14.18%	13.73%	13.64%	13.23%	12.85%	12.93%	13.3%
No. of shareholders	—	—	—	—	—	—	—	—	1,34,658	1,28,122	1,31,303	1,38,521

Promoter holding up 0.4 percentage points since Sep 2023.

15 deals · 9 Sept 2021 – 23 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
23 Sept 2026	HDFC MUTUAL FUND	Bulk	BSE	Sell	16,21,352	₹2,794.00	₹453.01 Cr
23 Sept 2026	NIPPON INDIA MUTUAL FUND	Bulk	BSE	Buy	12,94,552	₹2,794.00	₹361.70 Cr
18 Jan 2024	THE JUPITER GLOBAL FUND-JUPITER INDIA SELECT	Block	BSE	Buy	48,228	₹2,902.05	₹14.00 Cr
18 Jan 2024	JUPITER SOUTH ASIA INVESTMENT COMPANY LIMITED	Block	BSE	Sell	48,228	₹2,902.05	₹14.00 Cr
2 May 2022	ISHARES CORE TOTAL INTERNATIONAL STOCK MAURITIUS CO	Bulk	NSE	Sell	13,33,741	₹1,580.75	₹210.83 Cr
18 Nov 2021	XTX MARKETS LLP	Bulk	NSE	Buy	10,71,042	₹1,749.66	₹187.40 Cr
18 Nov 2021	XTX MARKETS LLP	Bulk	NSE	Sell	10,63,456	₹1,751.17	₹186.23 Cr
18 Nov 2021	SURJECTIVE RESEARCH CAPITAL LLP	Bulk	NSE	Buy	10,54,601	₹1,739.77	₹183.48 Cr
18 Nov 2021	SURJECTIVE RESEARCH CAPITAL LLP	Bulk	NSE	Sell	10,51,800	₹1,740.32	₹183.05 Cr
18 Nov 2021	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	10,14,871	₹1,753.78	₹177.99 Cr

1–10 of 15

1 / 2

Mr. Nikhil NandaExecutive Director-Chairperson-MD
Ms. Nitasha NandaExecutive Director
Mr. Hardeep SinghNon-Executive - Non Independent Director
Mr. Sunil Kant MunjalNon-Executive - Independent Director
Ms. Tanya DubashNon-Executive - Independent Director
Mr. Harish N SalveNon-Executive - Independent Director
Mr. Ravindra Chandra BhargavaNon-Executive - Independent Director
Mr. Vimal BhandariNon-Executive - Independent Director
Ms. Reema NanavatyNon-Executive - Independent Director
Mr. Bharat MadanExecutive Director
Mr. Rupinder Singh SodhiNon-Executive - Independent Director

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F&O

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 12 fund houses

Held by these funds

2.11%

of the company's equity

All mutual funds

9.49%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

50 schemes · 12 fund houses

		Shares
Franklin India Mid Cap Fund (Formerly known as Franklin India Prima Fund) ^	Franklin Templeton Mutual Fund	4.93 L	147.68	1.13%	0.441%	-0
Mid Cap FundNEW	ICICI Prudential Mutual Fund	4.25 L	127.19	1.51%	0.38%	—
SMALL CAP FUND	Nippon India Mutual Fund	3.94 L	118.03	0.14%	0.352%	-0
Franklin India Large & Mid Cap Fund (Formerly known as Franklin India Equity Advantage Fund)^	Franklin Templeton Mutual Fund	1.23 L	36.81	1.02%	0.11%	-0
Mid Cap Fund	Baroda BNP Paribas Mutual Fund	1 L	29.95	1.13%	0.089%	-0
Mid Cap FundNEW	Helios Mutual Fund	95,113	28.49	1.28%	0.085%	—
Large Cap Fund	Baroda BNP Paribas Mutual Fund	72,000	21.56	0.82%	0.064%	-0
IB29-Groww Multicap FundNEW	Groww Mutual Fund	70,150	21.01	1.42%	0.063%	—

1–8 of 50

1 / 7

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

57 announcementsExport CSV

1 Oct 2026, 9:06 amCompany Update

Announcement under Regulation 30 (LODR)-Monthly Business Updates

Monthly Business Updates PDF

21 Sept 2026, 9:13 amCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

18 Sept 2026, 12:34 pmCompany Update

Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - ESG Rating(S)

General PDF

17 Sept 2026, 5:47 pmCompany Update

Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

General PDF

16 Sept 2026, 5:49 pmCompany Update

Intimation Of Cancellation Of Scheduled Analyst/ Institutional Investor Meeting

General PDF

15 Sept 2026, 4:45 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

15 Sept 2026, 4:41 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

15 Sept 2026, 4:38 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

Date	Category	Subject	Filing
1 Oct 2026, 9:06 am	Company Update Monthly Business Updates	Announcement under Regulation 30 (LODR)-Monthly Business Updates	PDF
21 Sept 2026, 9:13 am	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	31.7%	33.9%	33.8%	31.2%	27.4%	31.2%	29.2%	30.4%
EBITDA margin %	11.6%	11.4%	16.1%	13.1%	9.2%	13.2%	11.4%	13%
EBIT margin %	10.2%	9.6%	14.4%	11.3%	7.4%	11.3%	9%	10.8%
PAT margin %	7.6%	8.1%	12.4%	10.2%	7.6%	11.9%	12.4%	20.8%
Working capital
Receivable days	54	—	34	40	51	48	47	38
Inventory days	70	—	56	62	73	73	70	67
Payable days	103	—	94	66	75	72	83	100
NWC days	21	—	-3	37	49	49	35	5
Leverage
Current ratio	1.44	—	2.73	5.02	2.85	3.14	2.74	3.25
Debt to EBITDA	0.37	—	0	0	0	0	0	0.02
Debt to equity	0.09	—	0	0	0	0	0	0
Interest coverage	37.3	37.9	87.6	69.3	68.5	101.9	47.4	88.5
Asset turnover	1.25	—	1.02	0.79	0.84	0.79	0.78	0.73
Return ratios
Return on assets %	9.6%	—	12.7%	8.1%	6.3%	9.3%	9.7%	15.2%
Return on capital employed %	26.9%	—	22.5%	16%	11.3%	15.7%	13.8%	15.4%
Return on equity %	15.8%	—	17.3%	9.7%	7.8%	11.4%	12.2%	19.3%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Tata Motors LimitedTMCVTMCV	₹1,53,008 Cr	₹1,57,825 Cr	₹87,197 Cr	₹8,812 Cr	9.1%	₹4,191 Cr	3.6%	31.3%	24%	-54
Ashok Leyland LimitedASHOKLEYASHOKLEY	₹88,390 Cr	₹1,52,326 Cr	₹57,723 Cr	₹10,982 Cr	19.1%	₹3,476 Cr	6.6%	16.6%	26.2%	-30
Escorts Kubota LimitedESCORTSESCORTS	₹29,847 Cr	₹29,883 Cr	₹12,248 Cr	₹1,529 Cr	13%	₹1,383 Cr	20.8%	15.4%	21.1%	5
Beml LimitedBEMLBEML	₹16,346 Cr	₹16,653 Cr	₹4,536 Cr	₹350 Cr	6.9%	₹82 Cr	3.3%	6%	4.9%	401
Action Construction Equipment LimitedACEACE	₹14,438 Cr	₹14,439 Cr	₹3,414 Cr	₹529 Cr	15.4%	₹437 Cr	12.7%	31.6%	22.9%	-20
Sml Mahindra LimitedSMLMAHSMLMAH	₹9,064 Cr	₹9,344 Cr	₹2,950 Cr	₹273 Cr	9.8%	₹156 Cr	5.6%	41.4%	35.4%	78
Ajax Engineering LimitedAJAXENGGAJAXENGG	₹6,708 Cr	₹6,708 Cr	₹2,111 Cr	₹264 Cr	12.6%	₹228 Cr	10.7%	23.6%	17.7%	12
V.s.t Tillers Tractors LimitedVSTTILLERSVSTTILLERS	₹3,732 Cr	₹3,732 Cr	₹1,271 Cr	₹169 Cr	13.4%	₹109 Cr	8.4%	13.1%	10%	60
Til LimitedTILTIL	₹2,060 Cr	₹2,427 Cr	₹377 Cr	₹18 Cr	1.4%	₹-30 Cr	-9.5%	4.4%	-31.8%	372
Keto Motors LtdKETOMOTORSKETOMOTORS	₹1,753 Cr	₹1,791 Cr	₹2 Cr	₹1 Cr	23.9%	₹-0 Cr	-8.5%	-0.3%	-0.5%	5,652
Atul Auto LimitedATULAUTOATULAUTO	₹1,181 Cr	₹1,326 Cr	₹890 Cr	₹91 Cr	10.2%	₹47 Cr	5.2%	12.6%	9.1%	38
Indo Farm Equipment LimitedINDOFARMINDOFARM	₹634 Cr	₹782 Cr	₹454 Cr	₹59 Cr	13.2%	₹25 Cr	5.6%	8.6%	4.5%	307

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	212	304	460	-234	797	1,131	32	224	1,032	1,003	1,381
	-45	-155	-374	-20	-421	-2,197	-1,857	-62	-928	-194	-1,128
	-191	-113	-1	191	-300	1,003	1,810	-71	-77	-702	-420
Net cash flow	—	—	—	—	—	-63	-15	91	28	107	-167
Free cash flow	164	238	355	-381	615	1,016	-141	34	856	780	1,102
CFO / Operating profit %	—	98.2%	83.1%	-32.3%	120.3%	100.4%	3.4%	28.8%	88.5%	86.1%	92.3%

Escorts Kubota Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

21

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Agri Machinery Products · revenue

Escorts Kubota Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends21

Board meetings1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Agri Machinery Products · revenue

21

1