The Construction Equipment Segment of Escorts Kubota experienced a substantial sales boost, with 592 machines sold in September 2023, marking a 51.8% growth compared to the 390 machines sold in the same month last year. This robust growth momentum in the construction equipment industry is expected to continue during the festive season and beyond. The company foresees further acceleration in growth, driven by the nation’s overall infrastructure development and increased CAPEX outlay.
On the flip side, Escorts Kubota reported an 11.2% decrease in tractor sales for September 2023 compared to the previous year. The company sold 10,114 tractor units in September 2023, down from 11,384 units in September 2022. Export figures for tractors also witnessed a decline of 11.9%, with export volumes decreasing from 848 units in September 2022 to 747 units in September 2023. For the current fiscal year, from April to September, total sales amounted to 45,699 units, showing a marginal 0.7% decrease compared to the same period last year.
Escorts Kubota is a renowned Indian engineering conglomerate with a legacy spanning over six decades. The company has played a pivotal role in advancing India’s socioeconomic development by operating across high-growth sectors, including agri-machinery, construction and material handling equipment, and railway equipment.
The shares of Escorts Kubota concluded the trading session at Rs 3197.40, marking a significant increase of 75.10 points or 2.41% compared to the previous closing price of Rs 3122.30 on the BSE. The stock opened at Rs 3122.00, reaching a high of Rs 3231.95 and a low of Rs 3086.00. A total of 12,850 shares were traded during the session.
In terms of its market performance, Escorts Kubota’s stock, with a face value of Rs 10, achieved a 52-week high of Rs 3344.00 and a 52-week low of Rs 1809.95. Over the past week, the stock reached a high of Rs 3318.00 and a low of Rs 3065.00. The company currently boasts a market capitalization of Rs 35,381.54 crore, with the promoters holding 67.64% of shares, while institutions and non-institutions hold 15.46% and 16.90%, respectively.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.