Escorts Kubota Ltd
Escorts Ltd. is one of India’s leading engineering conglomerates engaged in the manufacturing of Agri-machinery, Construction & Material Handling Equipment and Railway Equipment. [1]
- Market Cap ₹ 37,604 Cr.
- Current Price ₹ 3,361
- High / Low ₹ 4,422 / 2,776
- Stock P/E 29.7
- Book Value ₹ 927
- Dividend Yield 0.83 %
- ROCE 13.6 %
- ROE 12.8 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 21.5% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.2%
- Company's working capital requirements have reduced from 36.7 days to 26.2 days
Cons
- Stock is trading at 3.60 times its book value
- Company has a low return on equity of 11.3% over last 3 years.
- Earnings include an other income of Rs.601 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 18m | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
6,502 | 4,113 | 3,432 | 4,145 | 5,059 | 6,262 | 5,810 | 7,014 | 7,283 | 8,429 | 9,804 | 10,244 | |
6,115 | 4,039 | 3,271 | 3,878 | 4,506 | 5,539 | 5,149 | 5,888 | 6,317 | 7,659 | 8,673 | 9,080 | |
Operating Profit | 387 | 73 | 161 | 268 | 553 | 723 | 661 | 1,126 | 966 | 770 | 1,130 | 1,164 |
OPM % | 6% | 2% | 5% | 6% | 11% | 12% | 11% | 16% | 13% | 9% | 12% | 11% |
87 | 124 | 31 | 36 | 58 | 99 | 88 | 160 | 174 | 228 | 525 | 601 | |
Interest | 112 | 58 | 51 | 32 | 29 | 20 | 17 | 13 | 15 | 13 | 42 | 29 |
Depreciation | 86 | 69 | 58 | 63 | 73 | 87 | 107 | 118 | 132 | 150 | 224 | 244 |
Profit before tax | 275 | 70 | 82 | 208 | 509 | 715 | 625 | 1,155 | 993 | 835 | 1,390 | 1,492 |
Tax % | 10% | -8% | 15% | 37% | 32% | 33% | 25% | 25% | 26% | 24% | 23% | 15% |
247 | 76 | 70 | 131 | 347 | 478 | 472 | 872 | 736 | 637 | 1,077 | 1,265 | |
EPS in Rs | 20.13 | 6.23 | 5.76 | 10.71 | 28.31 | 39.07 | 38.53 | 64.63 | 55.82 | 48.26 | 97.44 | 113.06 |
Dividend Payout % | 9% | 19% | 21% | 14% | 7% | 6% | 6% | 12% | 13% | 14% | 18% | 25% |
Compounded Sales Growth | |
---|---|
10 Years: | 10% |
5 Years: | 12% |
3 Years: | 12% |
TTM: | 4% |
Compounded Profit Growth | |
---|---|
10 Years: | 29% |
5 Years: | 22% |
3 Years: | 20% |
TTM: | 18% |
Stock Price CAGR | |
---|---|
10 Years: | 38% |
5 Years: | 26% |
3 Years: | 32% |
1 Year: | -19% |
Return on Equity | |
---|---|
10 Years: | 13% |
5 Years: | 12% |
3 Years: | 11% |
Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 119 | 119 | 123 | 123 | 123 | 123 | 123 | 135 | 132 | 132 | 110 | 112 |
Reserves | 1,746 | 1,711 | 1,344 | 1,498 | 2,093 | 2,551 | 2,995 | 4,891 | 7,468 | 8,055 | 9,278 | 10,255 |
438 | 484 | 368 | 265 | 51 | 281 | 48 | 61 | 52 | 57 | 448 | 105 | |
1,332 | 1,235 | 1,134 | 1,313 | 1,706 | 1,753 | 1,849 | 1,791 | 1,456 | 1,841 | 2,563 | 2,623 | |
Total Liabilities | 3,636 | 3,550 | 2,968 | 3,199 | 3,973 | 4,707 | 5,014 | 6,878 | 9,108 | 10,085 | 12,400 | 13,095 |
1,654 | 1,596 | 1,539 | 1,581 | 1,588 | 1,647 | 1,702 | 1,796 | 1,841 | 1,891 | 2,165 | 2,053 | |
CWIP | 39 | 56 | 58 | 35 | 66 | 80 | 125 | 65 | 88 | 114 | 161 | 153 |
Investments | 372 | 373 | 64 | 212 | 549 | 491 | 797 | 1,938 | 4,836 | 4,767 | 5,019 | 5,605 |
1,572 | 1,526 | 1,307 | 1,371 | 1,770 | 2,489 | 2,390 | 3,079 | 2,343 | 3,313 | 5,054 | 5,284 | |
Total Assets | 3,636 | 3,550 | 2,968 | 3,199 | 3,973 | 4,707 | 5,014 | 6,878 | 9,108 | 10,085 | 12,400 | 13,095 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
343 | -10 | 212 | 304 | 460 | -234 | 797 | 1,129 | 32 | 224 | 789 | 1,003 | |
-70 | 17 | -44 | -155 | -374 | -18 | -421 | -2,195 | -1,856 | -62 | -759 | -194 | |
-230 | 1 | -191 | -113 | -1 | 191 | -300 | 1,003 | 1,810 | -71 | 25 | -702 | |
Net Cash Flow | 43 | 8 | -23 | 36 | 85 | -61 | 76 | -63 | -14 | 91 | 54 | 107 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 21 | 37 | 40 | 40 | 43 | 54 | 46 | 34 | 40 | 51 | 53 | 47 |
Inventory Days | 49 | 64 | 70 | 58 | 61 | 73 | 84 | 56 | 62 | 73 | 90 | 70 |
Days Payable | 68 | 92 | 115 | 117 | 132 | 107 | 123 | 94 | 66 | 75 | 87 | 82 |
Cash Conversion Cycle | 2 | 9 | -5 | -19 | -29 | 21 | 7 | -3 | 36 | 49 | 57 | 35 |
Working Capital Days | 2 | 10 | -15 | -25 | -26 | 28 | 11 | -4 | 31 | 40 | 44 | 26 |
ROCE % | 17% | 7% | 8% | 13% | 26% | 28% | 21% | 28% | 16% | 11% | 14% | 14% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Monthly Business Updates
5m - Company Announcement pertaining to sales volumes of tractors and construction equipment for the month of June, 2025
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Disclosure Pursuant To Regulation 30 Of SEBI Listing Regulations.
26 Jun - GST tax demand of INR 1.11 lakh settled; interest and penalty waived, proceedings closed.
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Closure of Trading Window
25 Jun - Trading window closed from July 1, 2025, until 48 hours post Q1 financial results disclosure.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
23 Jun - Investor meeting with Taurus Asset Management scheduled on July 4, 2025; earnings presentation available online.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
21 Jun - Newspaper publication titled Notice of 79th AGM and E-Voting Instructions
Annual reports
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Financial Year 2025
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Financial Year 2015
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Financial Year 2014
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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Jun 2025Transcript PPT
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Business Segments
1) Agri Machinery (70% in FY24 vs ~76% in FY23): [1] Products include Tractors, Engines, implements, Spare parts, and Lubes.
2) Construction Equipment (19% in FY24 vs ~14% in FY23): Trades in Material handling, Road compaction, and Earth Moving Equipment.
3) Railway Equipment (11% in FY24 vs 10% in FY23): Manufactures Brake System, Couplers, Suspension System, Friction & rubber Products. [2]