# Escorts Kubota (ESCORTS) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/escorts

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹2,435.8
- Change: -0.98%
- As of: 2026-11-06
- 1D return: -0.98%
- 5D return: -5.46%
- 1M return: -12.18%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

ESCORTS is in a confirmed daily downtrend as of 2026-11-06, with the price at ₹2435.80 trading below all key moving averages (20-day, 50-day, and 200-day) and the Supertrend indicator. The trend is established, supported by an ADX of 28.38 and negative slopes across short-term averages. Momentum remains weak, evidenced by a -1.0% return on the day despite a wide intraday range (+9.8%), suggesting selling pressure near the open. Participation was notable on 2026-11-02, where a -5.9% drop coincided with extreme volume (6.36x ratio). While the monthly timeframe shows a bullish Supertrend, the weekly structure is bearish, creating a mixed medium-term signal. Price is positioned near the lower end of recent ranges: +15.3% above the 20-day low, +8.2% above the 50-day low, and just +3.7% above the 252-day low. Risk is elevated, with a current drawdown of -38.5% and annualized volatility of 31.2%. Immediate support lies at ₹2411.83 (-0.98%) and ₹2376.40 (-2.44%). Resistance is found at the recent high of ₹2478.80 and pivot levels around ₹2475–₹2499. A sustained move above the 20-day EMA would be required to challenge the immediate bearish bias.

- Daily Trend: Bearish and established (ADX 28.38); price below all major MAs and Supertrend.
- Momentum & Volume: Weak daily return (-1.0%) following extreme volume-driven sell-off on Nov 2; wide intraday range indicates active but directional selling.
- Range Position: Trading near multi-year lows (+3.7% above 252-day low); limited upside buffer.
- Key Levels: Support at ₹2411.83 and ₹2376.40; Resistance at ₹2475.73 and ₹2499.77.
- Risk Profile: High volatility (31.2% annualized) and significant drawdown (-38.5%).

- Hammer
- Shooting Star
- Bullish Engulfing Reversal
- Outside Bar
- Doji

### News Context

Escorts Kubota reported a significant divergence between top-line growth and bottom-line profitability for the second quarter ended September 2026. While revenue from operations rose 16.3% year-on-year to ₹3,231.37 crore on a standalone basis, consolidated net profit fell 21.4% to ₹250 crore. This compression was driven by rising commodity costs and an unfavorable product mix, which squeezed agricultural machinery operating margins down to 7.8% from 12.8% a year earlier. Tractor sales remained flat due to demand headwinds from a patchy monsoon and delayed festive seasons. The company anticipates gradual margin improvement starting from the January-March quarter, assuming stable commodity prices, and has planned further price hikes for November.

Following these results, brokerages have issued contrasting views. Emkay Global Financial assigned a 'Buy' rating with a target of ₹3,200, citing potential upside. Conversely, Motilal Oswal maintained a 'Neutral' rating with a lower target of ₹2,200, suggesting limited upside at current valuations.

- {'detail': 'Standalone revenue grew 16.3% YoY to ₹3,231.37 crore, but consolidated net profit declined 21.4% to ₹250 crore.', 'metric': 'Q2 Profitability vs Revenue'}
- {'detail': 'Agricultural machinery operating margins contracted to 7.8% from 12.8% YoY, driven by rising commodity costs and unfavorable product mix.', 'metric': 'Margin Compression'}
- {'detail': 'Company expects gradual margin recovery from Jan-Mar 2027 if commodity prices remain stable; additional price hikes are planned for November 2026.', 'metric': 'Outlook & Catalysts'}
- {'detail': "Emkay Global Financial issued a 'Buy' with a ₹3,200 target, while Motilal Oswal assigned 'Neutral' with a ₹2,200 target.", 'metric': 'Brokerage Sentiment'}

- [Neutral Escorts Kubota; target of Rs 2200: Motilal Oswal](https://www.moneycontrol.com/news/business/neutral-escorts-kubota-target-of-rs-2200-motilal-oswal-14067748.html)
- [Buy Escorts; target of Rs 3200: Emkay Global Financial](https://www.moneycontrol.com/news/business/stocks/buy-escorts-target-of-rs-3200-emkay-global-financial-14067428.html)
- [Escorts Kubota Q2 results: Profit drops to ₹250 crore as rising costs squeeze tractor margins](https://www.thehindubusinessline.com/companies/escorts-kubota-q2-results-profit-drops-to-250-crore-as-rising-costs-squeeze-tractor-margins/article71656162.ece)
- [Escorts Kubota Net Profit Drops 21 Percent To Rs 255 Crore In September Quarter](https://www.freepressjournal.in/business/escorts-kubota-net-profit-drops-21-percent-to-rs-255-crore-in-september-quarter)
- [Q2 Results Today Live: ITC, Marico, UPL, Petronet LNG, NLC, DOMS, Escorts Kubota, NALCO, MobiKwik, Wockhardt, Granules to announce Q2 results, Reliance, Jio Platforms, NTPC shares in focus](https://www.thehindubusinessline.com/markets/q2-results-today-live-updates-itc-marico-upl-upl-petronet-lng-nlc-india-mobikwik-wockhardt-nalco-doms-ind-bosch-escorts-kubota-granules-lloyds-ril-jio-company-results-02-november-2026/article71652562.ece)

### What Changed

Escorts Kubota Limited (NSE: ESCORTS) has materially updated its investor communication landscape with the filing of the transcript from its earnings conference call held on November 2, 2026. This disclosure, submitted to the National Stock Exchange on November 6, 2026, provides a detailed record of management’s commentary and analyst interactions following the recent quarterly results. The availability of this transcript allows investors to review specific strategic updates, operational metrics, and forward-looking guidance discussed during the session.

On the trading front, the stock closed at ₹2,435.80 on November 6, 2026, reflecting a decline from the previous recorded price of ₹2,468.50. While daily trend indicators are not currently available for broader technical assessment, the immediate price movement indicates a modest contraction in valuation over this short interval. The primary material change remains the formal release of the earnings call transcript, which serves as the key reference point for understanding management's current stance on market conditions and company performance.

- New Development: Transcript of the earnings conference call held on November 2, 2026, was filed with the NSE on November 6, 2026.
- Price Action: Stock closed at ₹2,435.80 on November 6, 2026, down from ₹2,468.50 in the prior snapshot.
- Context: The company continues to operate under its common name, Escorts Kubota, listed on the NSE.

- [Escorts Kubota Limited has informed the Exchange about Transcript of Earning Conference Call held on November 02, 2026 |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_06112026153848_EKL_2026_11_06_Intimation_of_Transcript_Signed.pdf)

### Official Filings

Escorts Kubota Limited reported unaudited financial results for the quarter and half-year ended September 30, 2026 (Q2FY27), approved by its Board on November 2, 2026. The company posted standalone revenue from operations of ₹3,231.4 crore, up 16.3% year-on-year, while net profit declined 20.6% to ₹255.0 crore. This profit contraction occurred despite a one-time exceptional gain of ₹75.99 crore from the sale of land and buildings to Sona BLW Precision Forgings Limited. Operational volume data shows divergent trends: tractor sales rose marginally by 0.4% to 34,017 units, whereas construction-equipment sales surged 53.9% to 1,764 units. Additionally, the company distributed a final dividend of ₹33 per equity share for FY2025-26 during the quarter. Following these results, the company filed transcripts and scheduled analyst/investor meetings for mid-November 2026.

- Standalone Q2FY27 net profit fell 20.6% YoY to ₹255.0 crore, offsetting a 16.3% revenue increase to ₹3,231.4 crore.
- Construction equipment volumes grew significantly (+53.9% to 1,764 units), contrasting with flat tractor sales (+0.4% to 34,017 units).
- A one-time exceptional gain of ₹75.99 crore was recorded from the sale of assets to Sona BLW Precision Forgings Limited.
- The Board approved a final dividend of ₹33 per equity share for FY2025-26, distributed in the current quarter.

- [Escorts Kubota Limited has informed the Exchange about Transcript of Earning Conference Call held on November 02, 2026 |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_06112026153848_EKL_2026_11_06_Intimation_of_Transcript_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172012_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172345_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172751_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026173855_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- [ESCORTS KUBOTA LIMITED has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_224_WebXMLFile_20261104_174245902.xml)
- [Escorts Kubota Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/ESCORTS2_03112026170039_EKL_2026_11_03_Newspapers_Publication_Signed.pdf)
- [Escorts Kubota Limited has submitted to the Exchange, the financial results for the quarter and half year ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ESCORTS2_02112026142643_EKL_2026_11_02_Outcome_signed.pdf)
- [Escorts Kubota Limited has informed the Exchange regarding a press release dated November 02, 2026, titled "Standalone Q2FY27 Profit at Rs. 255.0 Crore". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/ESCORTS2_02112026144301_EKL_2026_11_02_Outcome_signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Earning Presentation |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_02112026144926_EKL_2026_11_02_Earning_PPT_signed.pdf)

### Fundamentals

Escorts Kubota (NSE) reported a sharp sequential decline in profitability for Q2 FY2026-27, despite continued top-line growth. Revenue from operations rose to ₹3,243 crore, up from ₹3,208 crore in Q1, but expenses increased more rapidly to ₹3,028 crore. This compression resulted in Profit Before Tax falling to ₹339 crore from ₹492 crore, and Net Profit dropping to ₹250 crore from ₹386 crore. Basic EPS declined sequentially to ₹22.74 per share from ₹35.08.

However, earnings quality remains robust. Cash from Operating Activity grew significantly over the last three years, reaching ₹1,381 crore in Mar 2026, with CFO/EBITDA improving to 130%. The balance sheet shows a transition toward deleveraging; borrowings fell to zero by Sep 2026, while fixed assets and investments expanded. Working capital efficiency improved markedly, with the Cash Conversion Cycle dropping to just 5 days as of Mar 2026. Promoter holding remained stable at 68.04% through Sep 2026.

- Q2 FY2026-27 Net Profit fell to ₹250 crore (EPS: ₹22.74) due to expense growth outpacing revenue of ₹3,243 crore.
- Operating cash flow strengthened to ₹1,381 crore in FY2026, with CFO/EBITDA rising to 130%.
- Borrowings reduced to ₹0 by Sep 2026; total assets grew to ₹16,618 crore.
- Cash Conversion Cycle compressed to 5 days as of Mar 2026, indicating efficient working capital management.

### Bear Case

Escorts Kubota faces significant near-term headwinds, evidenced by a sharp contraction in profitability and sustained negative price momentum. For the second quarter ended September 2026, consolidated net profit fell 21.4% to ₹250 crore, driven by rising commodity costs and an unfavorable product mix that compressed agricultural machinery operating margins from 12.8% to 7.8%. Despite a 16.3% year-on-year rise in standalone revenue to ₹3,231.37 crore, margin pressure has eroded earnings quality. Market sentiment reflects these operational challenges; the stock is down 36.2% year-to-date and 34.0% over the past year, with a current drawdown of -38.5%. Technical indicators on daily and weekly timeframes are bearish, with the Supertrend signaling downside risk and moving averages sloping negatively. While a brokerage target of ₹2,200 suggests limited upside at current levels around ₹2,435, the combination of squeezed margins and weak technical structure highlights substantial execution and valuation risks.

- Profitability Squeeze: Consolidated net profit dropped 21.4% to ₹250 crore in Q2 FY2026 as agricultural machinery operating margins contracted sharply from 12.8% to 7.8% due to rising commodity costs and unfavorable product mix.
- Revenue-Volume Disconnect: Standalone revenue rose 16.3% to ₹3,231.37 crore in the September quarter, yet standalone net profit declined 21%, indicating that top-line growth is not translating into bottom-line resilience amid demand headwinds.
- Severe Price Underperformance: The stock has declined 36.2% year-to-date and 34.0% over the trailing year, with a maximum drawdown of -38.8% and annualized volatility of +31.2%, reflecting persistent investor caution.
- Bearish Technical Setup: Daily and weekly trends show bearish Supertrend signals, with the Plus DI (16.12) significantly below the Minus DI (32.78) on the daily chart, suggesting dominant selling pressure and lack of immediate bullish reversal cues.

- [Neutral Escorts Kubota; target of Rs 2200: Motilal Oswal](https://www.moneycontrol.com/news/business/neutral-escorts-kubota-target-of-rs-2200-motilal-oswal-14067748.html)
- [Buy Escorts; target of Rs 3200: Emkay Global Financial](https://www.moneycontrol.com/news/business/stocks/buy-escorts-target-of-rs-3200-emkay-global-financial-14067428.html)
- [Escorts Kubota Q2 results: Profit drops to ₹250 crore as rising costs squeeze tractor margins](https://www.thehindubusinessline.com/companies/escorts-kubota-q2-results-profit-drops-to-250-crore-as-rising-costs-squeeze-tractor-margins/article71656162.ece)
- [Escorts Kubota Net Profit Drops 21 Percent To Rs 255 Crore In September Quarter](https://www.freepressjournal.in/business/escorts-kubota-net-profit-drops-21-percent-to-rs-255-crore-in-september-quarter)
- [Q2 Results Today Live: ITC, Marico, UPL, Petronet LNG, NLC, DOMS, Escorts Kubota, NALCO, MobiKwik, Wockhardt, Granules to announce Q2 results, Reliance, Jio Platforms, NTPC shares in focus](https://www.thehindubusinessline.com/markets/q2-results-today-live-updates-itc-marico-upl-upl-petronet-lng-nlc-india-mobikwik-wockhardt-nalco-doms-ind-bosch-escorts-kubota-granules-lloyds-ril-jio-company-results-02-november-2026/article71652562.ece)
- [Escorts Kubota Limited has informed the Exchange about Transcript of Earning Conference Call held on November 02, 2026 |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_06112026153848_EKL_2026_11_06_Intimation_of_Transcript_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172012_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172345_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172751_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026173855_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)

### FAQs

**How did Escorts Kubota's profitability change in the September 2026 quarter, and what drove this shift?**

For the second quarter of FY2026 (ended September 30, 2026), consolidated net profit declined 21.4% to ₹250 crore, while standalone net profit dropped 21% to ₹255 crore. This occurred despite revenue from operations rising 16.3% year-on-year to ₹3,231.37 crore. The profit contraction was driven by rising commodity costs and an unfavorable product mix that squeezed agricultural machinery operating margins down to 7.8% from 12.8% year-earlier.

**What are the key technical price levels and trend signals for Escorts Kubota as of November 6, 2026?**

The stock closed at ₹2,435.80 on a bearish daily supertrend, with short-term resistance near ₹2,475.73 and support at ₹2,411.83. Year-to-date returns stand at -36.2%, with a current drawdown of -38.5%. While the monthly supertrend remains bullish, weekly and daily trends show bearish momentum, indicated by negative slopes in moving averages and ADX readings above 20 suggesting active directional movement.

**What is the company's outlook on margin recovery following the recent profit decline?**

Escorts Kubota anticipates gradual margin improvement starting from the January-March quarter, assuming stable commodity prices. To address cost pressures, the company has planned further price hikes for November. However, tractor sales remained flat during the September quarter due to demand headwinds stemming from a patchy monsoon and delayed festive seasons.

- [Neutral Escorts Kubota; target of Rs 2200: Motilal Oswal](https://www.moneycontrol.com/news/business/neutral-escorts-kubota-target-of-rs-2200-motilal-oswal-14067748.html)
- [Buy Escorts; target of Rs 3200: Emkay Global Financial](https://www.moneycontrol.com/news/business/stocks/buy-escorts-target-of-rs-3200-emkay-global-financial-14067428.html)
- [Escorts Kubota Q2 results: Profit drops to ₹250 crore as rising costs squeeze tractor margins](https://www.thehindubusinessline.com/companies/escorts-kubota-q2-results-profit-drops-to-250-crore-as-rising-costs-squeeze-tractor-margins/article71656162.ece)
- [Escorts Kubota Net Profit Drops 21 Percent To Rs 255 Crore In September Quarter](https://www.freepressjournal.in/business/escorts-kubota-net-profit-drops-21-percent-to-rs-255-crore-in-september-quarter)
- [Q2 Results Today Live: ITC, Marico, UPL, Petronet LNG, NLC, DOMS, Escorts Kubota, NALCO, MobiKwik, Wockhardt, Granules to announce Q2 results, Reliance, Jio Platforms, NTPC shares in focus](https://www.thehindubusinessline.com/markets/q2-results-today-live-updates-itc-marico-upl-upl-petronet-lng-nlc-india-mobikwik-wockhardt-nalco-doms-ind-bosch-escorts-kubota-granules-lloyds-ril-jio-company-results-02-november-2026/article71652562.ece)
- [Escorts Kubota Limited has informed the Exchange about Transcript of Earning Conference Call held on November 02, 2026 |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_06112026153848_EKL_2026_11_06_Intimation_of_Transcript_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172012_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172345_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172751_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- [Escorts Kubota Limited has informed the Exchange about Schedule of Analyst/ Investor Meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026173855_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Strong Downtrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹2,475.73
- Risk regime: Higher Price Risk

### Support levels
- 2376.4
- 2435.8666666666663
- 2411.833333333333

### Resistance levels
- 3036.8042968749996
- 3123.35
- 3412.2265625

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -0.98% |
| return_10 | -7.28% |
| return_1m | -13.37% |
| return_1y | -33.98% |
| return_20 | -12.18% |
| return_3m | -20.94% |
| return_5 | -5.46% |
| return_6m | -26.57% |
| return_since_start | -26.18% |
| return_ytd | -36.25% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -38.84% |
| annualized_volatility | +31.24% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Escorts Kubota Limited FY2026-27 Q2: Revenue rises, profit contracts

Escorts Kubota’s consolidated revenue from operations increased 1.1% quarter on quarter and 16.2% year on year to ₹3,243 crore in Q2 FY2026-27. Profit before tax fell 31.2% from Q1 FY2026-27 and 20.7% from Q2 FY2025-26 to ₹339 crore; profit for the period declined to ₹250 crore. Expenses grew faster than revenue in both comparisons, while earnings per share fell to ₹22.74.

## Revenue growth trails expense growth

Revenue from operations rose ₹36 crore from ₹3,208 crore in Q1 FY2026-27. Expenses increased ₹105 crore to ₹3,028 crore over the same period. Year on year, revenue grew 16.2%, while expenses rose 21.2%, alongside lower pre-tax profit.

## Profit declines in both comparisons

Profit before tax was ₹339 crore, down from ₹492 crore in Q1 FY2026-27 and ₹427 crore in Q2 FY2025-26. Profit for the period was ₹250 crore, compared with ₹386 crore and ₹318 crore, respectively. Tax expense fell to ₹89 crore from ₹106 crore in Q1 FY2026-27, but the reduction did not offset the lower pre-tax profit. Comprehensive income was ₹251 crore, down from ₹383 crore in Q1 FY2026-27 and ₹317 crore in Q2 FY2025-26. Earnings per share declined to ₹22.74 from ₹35.08 and ₹28.92, respectively.

## Inventory and receivables

Inventory stood at ₹2,038 crore on 30 September 2026, up from ₹1,472 crore on 31 March 2026 and ₹1,449 crore on 30 September 2025. Trade receivables were ₹1,472 crore, compared with ₹1,203 crore and ₹1,554 crore on those dates, respectively. These closing balances show inventory increased from both reference dates, while receivables were higher than at March-end but below the year-earlier level.

## Balance sheet and financing

Total assets rose to ₹16,618 crore at 30 September 2026 from ₹15,799 crore at 31 March 2026 and ₹15,064 crore at 30 September 2025. Equity increased to ₹12,639 crore from ₹12,369 crore at March-end, while liabilities rose to ₹3,979 crore from ₹3,430 crore. Cash and cash equivalents were ₹183 crore, compared with ₹178 crore at 31 March 2026. Current borrowings stood at ₹36 crore, versus nil at 30 September 2025. Finance costs were ₹4.7 crore, down from ₹5.2 crore in Q1 FY2026-27.

## Operating performance and management outlook

According to the company’s press release, tractor volumes increased 0.4% to 34,017 units and construction equipment volumes rose 53.9% to 1,764 units. Management attributed the pressure on Q2 profitability to elevated commodity costs and product-mix changes, with cost pressures higher than anticipated. It said the company is focusing on operational efficiencies and cost optimisation, and expects margins to improve gradually from Q4 if the commodity environment remains stable, returning closer to normal levels in FY28.

## Key Takeaway

Revenue growth did not keep pace with expense growth, and profit declined both sequentially and year on year despite higher reported volumes in tractors and construction equipment. Inventory rose materially from March-end, while receivables remained below their year-earlier level; investors will also be watching whether the cost pressures cited by management ease as it pursues a gradual margin recovery.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +68.04%
- FII holding: +6.36%
- DII holding: +10.65%
- Mutual fund holding: +9.49%
- Retail holding: +8.88%
- Promoter pledged: +0.00%

### Major reported shareholders

- KUBOTA CORPORATION, JAPAN — +54.07% (Other)
- HAR PARSHAD AND COMPANY PRIVATE LIMITED — +9.59% (Bodies Corporate)
- HDFC MUTUAL FUND - HDFC NIFTY LARGE MIDCAP 250 IND — +6.94%
- Escorts Employees Benefit and Welfare Trust (Anil Kumar Chandrashekaran, Trustee) — +1.65%
- BIG APPLE CLOTHING PRIVATE LIMITED — +1.58% (Bodies Corporate)
- Rekha Jhunjhunwala — +1.53%
- AAA PORTFOLIOS PRIVATE LIMITED — +1.51% (Bodies Corporate)
- AMANSA HOLDINGS PRIVATE LIMITED — +1.39%
- NIKHIL NANDA — +1.08%
- NITASHA NANDA — +0.17%

## Official filings

- 2026-11-06 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_06112026153848_EKL_2026_11_06_Intimation_of_Transcript_Signed.pdf)
- 2026-11-06 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_224_WebXMLFile_20261106_155259350.xml)
- 2026-11-04 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172012_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- 2026-11-04 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172345_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- 2026-11-04 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026172751_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- 2026-11-04 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_04112026173855_EKL_2026_11_04_Intimation_Investor_Meet_Signed.pdf)
- 2026-11-04 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_224_WebXMLFile_20261104_174245902.xml)
- 2026-11-03 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_03112026170039_EKL_2026_11_03_Newspapers_Publication_Signed.pdf)
- 2026-11-02 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_02112026142643_EKL_2026_11_02_Outcome_signed.pdf)
- 2026-11-02 — Press Release: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_02112026144301_EKL_2026_11_02_Outcome_signed.pdf)
- 2026-11-02 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_02112026144926_EKL_2026_11_02_Earning_PPT_signed.pdf)
- 2026-11-02 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_02112026185828_EKL_2026_11_02_Weblink_of_Audio_Recording_Signed.pdf)
- 2026-11-02 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_224_WebXMLFile_20261102_191203858.xml)
- 2026-11-02 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_02112026191315_EKL_2026_09_30_Statement_of_Deviation_signed1.pdf)
- 2026-11-02 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_224_WebXMLFile_20261102_193456166.xml)
- 2026-11-02 — Financial Results Filing: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1751471_02112026082500_WEB.xml)
- 2026-11-02 — Financial Results Filing: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1751470_02112026082442_WEB.xml)
- 2026-11-01 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_01112026112442_EKL_2026_10_31_Volume.pdf)
- 2026-10-30 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_30102026094820_2026_10_30_EKL_Price_Increase_and_Press_Note_Signed.pdf)
- 2026-10-28 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_28102026172248_EKL_2026_10_28_Interaction_with_Media_Signed.pdf)
- 2026-10-23 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_23102026103402_EKL_2026_10_23_Newspapers_Publication_Signed.pdf)
- 2026-10-23 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_23102026105502_EKL_2026_10_23_BM_Concall_Intimation_Signed.pdf)
- 2026-10-23 — Generic Announcement: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_224_WebXMLFile_20261023_111136821.xml)
- 2026-10-21 — Shareholding Disclosure: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742447_21102026105846_WEB.xml)
- 2026-10-15 — Board Meeting Notice: Escorts Kubota Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ESCORTS2_15102026175306_EKL_2026_10_15_Prior_Intimation_of_Board_Meeting_Signed.pdf)

## News and market events

- 2026-11-03 — MONEYCONTROL: **Neutral Escorts Kubota; target of Rs 2200: Motilal Oswal** — Motilal Oswal has assigned a neutral rating to Escorts Kubota with a target price of Rs 2,200. The brokerage firm's assessment suggests limited upside potential for the stock at current valuations. — [Source](https://www.moneycontrol.com/news/business/neutral-escorts-kubota-target-of-rs-2200-motilal-oswal-14067748.html)
- 2026-11-03 — MONEYCONTROL: **Buy Escorts; target of Rs 3200: Emkay Global Financial** — Emkay Global Financial has issued a 'Buy' recommendation for Escorts, setting a price target of Rs 3200. The note suggests potential upside for investors in the stock based on the firm's analysis. — [Source](https://www.moneycontrol.com/news/business/stocks/buy-escorts-target-of-rs-3200-emkay-global-financial-14067428.html)
- 2026-11-02 — The Hindu: **Escorts Kubota Q2 results: Profit drops to ₹250 crore as rising costs squeeze tractor margins** — Escorts Kubota reported a 21.4% decline in second-quarter consolidated net profit to ₹250 crore, driven by rising commodity costs and an unfavorable product mix that squeezed tractor margins despite higher revenue. Agricultural machinery operating margins contracted to 7.8% from 12.8% year-earlier, while tractor sales remained flat amid demand headwinds from a patchy monsoon and delayed festive seasons. The company anticipates gradual margin improvement from the January-March quarter assuming stable commodity prices, with further price hikes planned for November. — [Source](https://www.thehindubusinessline.com/companies/escorts-kubota-q2-results-profit-drops-to-250-crore-as-rising-costs-squeeze-tractor-margins/article71656162.ece)
- 2026-11-02 — FREEPRESSJOURNAL.IN: **Escorts Kubota Net Profit Drops 21 Percent To Rs 255 Crore In September Quarter** — Escorts Kubota reported a 21 percent drop in standalone net profit to Rs 255 crore for the September quarter, despite revenue from operations rising 16.3 percent year-on-year to Rs 3,231.37 crore. For the half-year ended September 30, 2026, the company's standalone net profit declined 7.4 percent to Rs 642.38 crore, while half-year revenue increased by 21.9 percent to Rs 6,410.27 crore. — [Source](https://www.freepressjournal.in/business/escorts-kubota-net-profit-drops-21-percent-to-rs-255-crore-in-september-quarter)
- 2026-11-02 — The Hindu: **Q2 Results Today Live: ITC, Marico, UPL, Petronet LNG, NLC, DOMS, Escorts Kubota, NALCO, MobiKwik, Wockhardt, Granules to announce Q2 results, Reliance, Jio Platforms, NTPC shares in focus** — Multiple listed Indian companies including ITC, Marico, UPL, Petronet LNG, NLC India, DOMS Industries, Escorts Kubota, National Aluminium Company, One Mobikwik Systems, and Wockhardt are scheduled to announce their Q2 fiscal year 2026 financial results on November 2, 2026. Shares of Reliance, Jio Platforms, and NTPC are also noted as being in focus during this period. — [Source](https://www.thehindubusinessline.com/markets/q2-results-today-live-updates-itc-marico-upl-upl-petronet-lng-nlc-india-mobikwik-wockhardt-nalco-doms-ind-bosch-escorts-kubota-granules-lloyds-ril-jio-company-results-02-november-2026/article71652562.ece)
- 2026-11-02 — The Hindu: **Q2 Results Today Highlights: Marico, Petronet LNG & Granules Q2 profit surges, ITC, UPL , Wockhardt & Escorts Kubota PAT down, MobiKwik posts profit, Devyani International loss narrows** — Several listed companies reported their Q2FY27 standalone financial results, with Petronet LNG and Marico showing significant profit growth, while Escorts Kubota saw a decline in profit after tax. — [Source](https://www.thehindubusinessline.com/markets/q2-results-today-highlights-itc-marico-upl-upl-petronet-lng-nlc-india-mobikwik-wockhardt-nalco-doms-ind-bosch-escorts-kubota-granules-lloyds-ril-jio-company-results-02-november-2026/article71652562.ece)
- 2026-11-01 — Economic Times: **Hyundai, Tata, M&M October sales surge amid festive cheer; Escorts Kubota declines 10%** — In October, various automakers experienced different sales results, highlighting a mixed performance across the industry. Hyundai Motor India observed a 17.7% sales increase, with domestic and export growth. Tata Motors Passenger Vehicles reported an impressive 23% rise in sales, including a 75% increase in electric vehicles. Conversely, Escorts Kubota faced a 10% sales decline during this time period. — [Source](https://economictimes.indiatimes.com/industry/auto/cars-uvs/hyundai-tata-mm-october-sales-surge-amid-festive-cheer-escorts-kubota-declines-10/articleshow/135421007.cms)
- 2026-11-01 — CNBC-TV18: **From M&M to Eicher Motors — A look at how October auto sales have fared so far** — Automakers reported their October sales data for the month gone by, with Hyundai Motor India, Mahindra and Mahindra, Eicher Motors VECV showing growth, while SML Mahindra saw marginal growth and Escorts Kubota reported a decline. — [Source](https://www.cnbctv18.com/auto/mahindra-and-mahindra-mm-eicher-motors-hyundai-motor-india-eicher-escorts-kubota-maruti-suzuki-share-price-october-auto-sales-data-20024236.htm)
- 2026-10-30 — Economic Times: **Escorts Kubota hikes tractor prices as Middle East war fuels cost pressures** — Escorts Kubota announced price hikes for its Kubota, Farmtrac, and Powertrac tractor ranges effective November 2026. The company cited rising input costs, including raw materials, energy, and logistics, exacerbated by inflation and geopolitical tensions, as the primary drivers for the revision. — [Source](https://economictimes.indiatimes.com/news/economy/agriculture/escorts-kubota-hikes-tractor-prices-as-middle-east-war-fuels-cost-pressures/articleshow/135346548.cms)
- 2026-10-30 — CNBC-TV18: **Escorts Kubota to increase tractor prices after the festive season as input costs bite** — Escorts Kubota Ltd. announced a price hike for tractors across all its brands, including Kubota, Farmtrac, and Powertrac, effective in November 2026 to mitigate input cost pressures and rupee depreciation. The company reported a 16.7% slump in total tractor sales for September 2026 compared to the same period last year. — [Source](https://www.cnbctv18.com/market/escorts-kubota-share-price-tractor-price-hike-across-portfolios-november-post-festive-season-20023053.htm)
- 2026-10-30 — BUSINESSTODAY: **Escorts Kubota announces tractor price hike from November; stock reacts** — Escorts Kubota Ltd announced a price hike for its Kubota, Farmtrac, and Powertrac tractor ranges effective November 2026, citing rising input costs due to inflation, geopolitical uncertainties, and rupee depreciation. The stock reacted negatively, falling 2% on the announcement. — [Source](https://www.businesstoday.in/markets/stocks/story/escorts-kubota-announces-tractor-price-hike-from-november-stock-reacts-564696-2026-10-30)
- 2026-10-29 — FEEDS: **Five Stocks To Buy Today October 29: SBI Life Insurance, Escorts Kubota, HBL Engineering, And More** — Analysts recommend buying Escorts Kubota, SBI Life Insurance, Ajmera Realty, and HBL Engineering with defined entry points, stop-losses, and target prices to manage risks and potential gains. — [Source](https://www.ndtvprofit.com/markets/five-stocks-to-buy-today-october-90-sbi-life-insurance-escorts-kubota-hbl-engineering-ajmera-realty-infra-12250835)
- 2026-10-01 — The Hindu: **M&M, Hyundai, JSW MG sales grow in September led by sustained customer enthusiasm** — Country’s leading multi-utility vehicles (MUVs) maker, Mahindra & Mahindra (M&M) on Thursday reported wholesales (dispatches to dealers) growth of 14 per cent year-on-year (YoY) to 64,092 units in September in the domestic market, as compared with 58,233 units in the same month last year. — [Source](https://www.thehindubusinessline.com/companies/mm-hyundai-jsw-mg-sales-grow-in-september-led-by-sustained-customer-enthusiasm/article71531697.ece)
- 2026-10-01 — Economic Times: **Indian automakers post higher September sales as dealers stock up for festive season** — Indian automakers reported increased sales in September as dealers stocked up for the festive season. Hyundai Motor India achieved a 10.8% sales increase, driven by customer enthusiasm and the opening of bookings for the new Hyundai Bayon. Mahindra & Mahindra saw a 14% rise in domestic sales due to demand for sports utility vehicles, despite falling tractor sales. — [Source](https://economictimes.indiatimes.com/industry/auto/auto-news/indian-automakers-post-higher-september-sales-as-dealers-stock-up-for-festive-season/articleshow/134609451.cms)
- 2026-10-01 — MONEYCONTROL: **Bajaj Auto crashes 8%, auto stocks slide on weak September sales; Maruti, M&M among top losers, Hyundai gains** — monthly auto sales, automobile stocks update, auto shares today, nifty auto falls, car and bike sales — [Source](https://www.moneycontrol.com/news/business/markets/bajaj-auto-crashes-8-auto-stocks-slide-on-weak-september-sales-maruti-m-m-among-top-losers-hyundai-gains-14042580.html)
- 2026-10-01 — CNBC-TV18: **Explained - Why Auto stocks, led by Bajaj fell up to 7% after their September sales numbers** — Force Motors' total sales were up over 50% from last year in September. This was the second month in a row that sales have grown by 50%, while Bajaj Auto's exports fell below the mark of 2.5 lakh units for the first time in four months. — [Source](https://www.cnbctv18.com/market/bajaj-auto-escorts-mm-maruti-tata-motors-cv-pv-hyundai-share-price-september-sales-why-these-stocks-are-falling-20002710.htm)
- 2026-09-23 — MONEYCONTROL: **Bulk and Block deals: RPS Ventures sells ~0.9% in Meesho for ~Rs 900 crore; large stake sales in Escorts, Allied Blenders & Molbio on September 23** — bulk, block, wellspun, meesho — [Source](https://www.moneycontrol.com/news/business/markets/bulk-and-block-deals-rps-wos-ii-llc-offloads-large-stake-in-meesho-zuari-group-entity-sells-texmaco-infra-on-september-23-14036698.html)
- 2026-09-21 — BUSINESSTODAY: **Tata Motors, Ather, M&M, Ashok Leyland: Emkay Global sees up to 58% upside in select auto stocks** — Tata Motors share price, Ather Energy share price, M&M share price, Ashok Leyland share price, auto stocks — [Source](https://www.businesstoday.in/markets/stocks/story/tata-motors-ather-mm-ashok-leyland-emkay-global-sees-up-to-58-upside-in-select-auto-stocks-556787-2026-09-21)
- 2026-09-21 — The Hindu: **Former Panasonic India Chairman Manish Sharma joins Escorts Kubota as President-Agri Business** — Manish Sharma, former Panasonic India Chairman, joins Escorts Kubota as President of Agri Business, enhancing growth in agricultural machinery. — [Source](https://www.thehindubusinessline.com/economy/agri-business/former-panasonic-india-chairman-manish-sharma-joins-escorts-kubota-as-president-agri-business/article71490148.ece)
- 2026-09-14 — Times of India: **At 28, Amitabh Bachchan’s granddaughter Navya Naveli Nanda works with father Nikhil Nanda at Rs 32,500-cr Escorts Kubota; says 'I would never want to restrict my identity' beyond Bachchan-Nanda legacy** — At 28, Navya Naveli Nanda's corporate journey began in an environment far removed from the usual image associated with her famous family - around trac. — [Source](https://timesofindia.indiatimes.com/entertainment/hindi/bollywood/news/at-28-amitabh-bachchans-granddaughter-navya-naveli-nanda-works-with-father-nikhil-nanda-at-rs-32500-cr-escorts-kubota-says-i-would-never-want-to-restrict-my-identity-beyond-bachchan-nanda-legacy/articleshow/134151943.cms)
- 2026-09-01 — BUSINESS: **Escorts Kubota sells 10,072 tractors in August'26** — Escorts Kubota said that its Agri Machinery Business in August 2026 sold 10,072 tractors as against 8,456 tractors sold in August 2025, thereby registering a growth of 19.1% on year-on-year (YoY) basis. — [Source](https://www.business-standard.com/markets/capital-market-news/escorts-kubota-sells-10-072-tractors-in-august-26-126090100271_1.html)
- 2026-09-01 — CNBC-TV18: **August Auto Sales: Escorts Kubota shares gain after co sells 19% more units Vs July** — Domestic sales drove the growth, rising 20.5% YoY to 9,523 tractors from 7,902 units a year earlier. Export volumes, however, remained largely stable at 549 tractors versus 554 units in August 2025. — [Source](https://www.cnbctv18.com/market/august-auto-sales-escorts-kubota-shares-gain-after-co-sells-more-units-vs-july-19981112.htm)
- 2026-08-19 — Times of India: **UP to get 500 acre ‘Japan City’ along Yamuna Expressway** — UP CM Yogi announces 500-acre “Japan City” in YEIDA on Yamuna Expressway; lays foundation for Escorts Kubota and Spark Minda plants, boosting jobs and manufacturing. — [Source](https://timesofindia.indiatimes.com/city/noida/up-to-get-500-acre-japan-city-along-yamuna-expressway/articleshow/133357061.cms)
- 2026-08-19 — FREEPRESSJOURNAL.IN: **Japanese Delegation Receives Grand Welcome In Jewar, Marks New Chapter In India-Japan Ties** — Kubota’s proposed industrial unit in Jewar, Gautam Buddha Nagar, marked a new phase in India-Japan cooperation with a traditional Bhoomi Pujan ceremony. Japanese representatives were welcomed by students and farmers. Jewar MLA Dhirendra Singh said the project would combine Japanese technology, local resources and farmer participation to create jobs and development opportunities. — [Source](https://www.freepressjournal.in/uttar-pradesh/japanese-delegation-receives-grand-welcome-in-jewar-marks-new-chapter-in-india-japan-ties)
- 2026-08-19 — Economic Times: **Escorts Kubota eyes top 3 tractor spot in India by 2030, plans ₹2,000 crore Jewar plant** — Escorts Kubota is targeting a spot among Indias top three tractor makers by the end of the decade, backed by new products, capacity expansion and a ₹2,000 crore-plus manufacturing facility in Jewar, Uttar Pradesh. The company also plans to make India a global manufacturing, engineering and export hub, including for North America. — [Source](https://economictimes.indiatimes.com/industry/auto/lcv-hcv/escorts-kubota-eyes-top-3-tractor-spot-in-india-by-2030-plans-2000-crore-jewar-plant/articleshow/133351239.cms)

## Business profile

**Strategic vision:** Manufactures agricultural and construction equipment.

### Business segments
- **Agricultural Machinery:** Involves the production of tractors, engines, and agri solutions. The company designs, manufactures, and supplies agricultural tractors and engines.
- **Construction Equipment:** Focuses on advanced construction equipment, including material handling equipment and components like shock absorbers and brake blocks.
- **Components and Engines:** Produces components such as shock absorbers, couplers, and forks, as well as internal combustion engines, oils, lubricants, generators, and vibratory rollers.

### Competitive strengths
- Global manufacturing presence in India and Poland.
- Diverse product portfolio spanning agricultural and construction sectors.
- Commitment to innovation and integrated solutions.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/escorts
Markdown representation: https://faxioms.com/stocks/escorts?render=md