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In an exchange filing on Wednesday, Escorts Kubota said that its overall tractor sales fell close to 11% in December to 5,472 units, compared to 6,136 units in the same month last year.
Domestic sales for Escorts Kubota declined by 12.5% on a year-on-year basis to 5,016 units, while exports increased by 12.6% to 456 units from 405 units last year.
For the October-December period, Escorts Kubota’s overall sales volume grew by 4.5% to 32,556 units. While domestic sales for the quarter increased by 6% year-on-year, exports saw a decline of close to 30% to 971 units.
Escorts Kubota has sold 88,921 units during the first nine months of the current financial year, which is nearly the same (down 0.8%) as the 89,649 units it sold during the first nine months of the previous financial year.
The company’s construction equipment business division sold 873 machines during December, which is their highest ever monthly sale. The division had sold 792 machines in December 2023, implying a growth of 10.2%.
Construction Equipment sales were driven by the upcoming changes in emission standards, which are set to take effect this month.
“Looking ahead, we anticipate a favourable market trend in the CE industry, supported with expected capex push by the central government in the coming months, but the emission norms changes and the resultant cost increase may have some impact on the short-term demand,” Escorts Kubota said.
Shares of Escorts Kubota are currently trading 3.2% lower at ₹3,227.1. The stock had gained close to 9% last year, in-line with the returns of the Nifty 50 index.
