Escorts Kubota Limited's Agri Machinery Business Division reported modest 2.5 per cent growth in tractor sales in September 2024, selling a total of 12,380 units compared to 12,081 units during the same period last year in September 2023, the company on Tuesday (October 1) announced through an exchange filing.
Domestic Tractor Sales Surge by 5.7 per cent
The company through the BSE filing announced that it has sold sold 11,985 tractors in September 2024, marking a 5.7 per cent surge from the 11,334 units sold in the same period last year.
Domestic Tractor Sales - Escorts Kubota Limited | BSE Filing
Export Sales Drop Sharply
As per the regulatory filing, the company in the month of September 2024 managed to sell only 395 tractors abroad in comparison to 747 units in the same month last year.
Escorts Kubota Limited's Agri Machinery Business | Escorts Kubota
Furthermore, the company recorded a 24.7 per cent decline in export sales over the past six months.
Quarterly and Six-Month Sales Performance
Similarly, for the second quarter of the fiscal year (Q2FY25 - July to September), the company reported sales of 25,995 tractors, slightly lower than the 26,241 tractors sold during the same period in FY24.
Furthermore, in the overall first 6 months of the fiscal year, that is, April to September the total sales of the company reached 56,365 units, a 3.6 per cent decrease from the 58,494 units sold in the corresponding period last year.
Construction Equipment Business Faces Challenges
Apart from the Agri Machinery Business, the company's Construction Equipment Division also faced a tough months. In September 2024, the company has a sale of 510 machines, down 18.7 per cent from 627 machines in the previous year.
Construction Equipment Business | Escorts Kubota
In a similar note, for the quarter, the company sold 1,394 units, an 18.4 per cent drop from the same period last year.
Over the first half of FY25, total sales for the construction equipment segment stood at 2,776 machines, a decline of 12.6 per cent.
Share performance
The shares of the company today at 12:28 pm IST were trading at Rs 4,219.20, down by 1.16 per cent.
