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Recovery of market share a challenge for tractor major Escorts Kubota

Near term volume growth, margins could add to the concerns

Volumes, price hike aid Escorts's Q3 performance
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Even though Escorts revenues grew 20 per cent in Q1, as compared to QIFY22, its operating and net profit fell by 14 per cent and 20 per cent, respectively.

Ram Prasad Sahu
The stock of tractor major, Escorts Kubota, slid over 5 per cent in trade on Tuesday, following a weak June quarter for the 2022-23 financial year (Q1FY23) show and a slew of brokerage downgrades. While the company faced margin headwinds in the quarter, the Street is worried about market share losses and prospects of a weak volume trajectory going ahead. Brokerages have cut their earnings estimates for the company between 7-24 per cent for FY23 and FY24.

Even though Escorts revenues grew 20 per cent in Q1, as compared to QIFY22, its operating and net profit fell by 14 per