Escorts Kubota Limited November 2023 Tractor Sales Reports 3.7% Growth, Sold 8,258 Tractors

01 Dec, 2023

Faridabad, December 1st, 2023: Escorts Kubota Limited Agri Machinery Business Division in November 2023 sold 8,258 tractors, registering a growth of 3.7 percent as against 7,960 tractors sold in November 2022. 

Escorts Kubota Limited Agri Machinery (Farmtrac tractor, Powertrac tractor and Digitrac tractor) Domestic tractor sales in November 2023 were at 7,855 tractors registering a growth of 6.7 percent as against 7,359 tractors sold in November 2022. Overall festive demand has been good barring few states where demand was marginally impacted due to scanty and/or unseasonal rainfall. Keeping in view the fact that Domestic Tractor Industry has been almost at its record levels and given generally positive macroeconomic factors, we expect current momentum to continue in balance of the year too.

Export tractor sales in November 2023 were at 403 as against 601 tractors sold in November 2022.

Sales figure are as follows:

FY- Financial Year from April to March                                                    M- Month 

About Escorts Kubota Limited

“Escorts Kubota Limited (formerly Escorts Limited) is one of India's leading engineering conglomerate with over seven decades of experience in manufacturing excellence. Aligned to its purpose led existence of Spreading Prosperity & Impacting Lives, it has helped accelerate India’s socio economic development through its presence across the high growth sectors of agricultural mechanization, modernization of railway technology and transformation of Indian construction. The company has diversified business across three different divisions, Agri Machinery, Construction Equipment & Railway Equipment. The company is committed to excellence in engineering, innovation in products, development of market-relevant technologies and the highest of cost efficiencies to create value for its customers and shareholders. The Group has earned the trust of over 5 million customers by way of product and process innovations and endeavors to contribute to global food security and smart infrastructure.”

What Impact Can Escorts Kubota Tractors Sales in November 2023 Have on Escorts Kubota Share Price?

Escorts Kubota captured the 10.12% market share of the total tractor industry of India in November 2023. Escorts Kubota Tractor Sales in November 2023 is 8,258 tractors and experienced YoY sales growth of 3.7%.

This sales growth helped Escort Kubota's share prices in December 2023 to increase. On 30th Nov 2023, the closing Escorts Kubota share price was INR 3,150.30 per unit.

But, it opened at INR 3,179.95 on 1st Dec 2023, after marginal growth. The closing Escorts Kubota share price on 1st Dec 2023 was INR 3,205.20 per unit. With the better market position of Escorts Kubota, we’re expecting certain Escorts Kubota share price increases by the end of Dec 2023.