NSE:ESCORTS · Risk Score Report

NSE:ESCORTSNSEIndustrials

Escorts Kubota Limited

📊 Farm & Heavy Construction Machinery

Day ₹3,283

₹3,382 Oversold

52W ₹2,710

₹4,180 Neutral

₹3,287.60

▼ ₹21.00 (-0.63%)

Vol: 39,554 · Avg: 140,342

As of April 29, 2026 · 06:37 IST

COMPOSITE RISK SCORE

VAL:17/25 · FIN:15/25 · GRO:16/25 · TECH:14/25

📈 P/E RATIO

27.4x

Trailing

📖 P/B RATIO

3.0x

Price to Book

💰 EPS

₹119.77

TTM

🏛 MARKET CAP

₹36,172Cr

Large Cap

📊 ROE

12.2%

Return on Equity

📈 REV GROWTH

11.3%

YoY

🏢 Company Analysis · Escorts Kubota Limited

💼 BUSINESS MODEL

Escorts Kubota Limited manufactures and sells agricultural and construction equipment in India and internationally..
The company offers rotavator, straw reaper, super seeder, MB plough, orchard sprayer, paddy harvester, rice transplanter, hydraulic pump, diesel filter, and gear products, as well as parts and lubricants; diesel engines; and cranes, vibratory soil compactors, backhoe loaders, tandem rollers, and mini excavators..
It also provides agricultural tractors; engines for agricultural tractors; construction, earth moving, and material handling equipment; and round and flat tubes, heating elements, center buffer couplers, automobile shock absorbers, telescopic front fork and Mcpherson struts, internal combustion engines, and brake blocks..
In addition, the company trades in oils and lubricants, implements, trailers, tractors, compressor accessories and spares, construction, earth moving, and material handling equipment..
Operates in Farm & Heavy Construction Machinery within the Industrials sector.
Workforce of 4,622 employees.

🏰 MOAT & COMPETITION

Large-cap (₹36,172 Cr) — established player with meaningful market presence.
Profit margin of 21.7% suggests pricing power / cost moat.
Key competitors: Gurunanak Agri., Escorts Kubota, VST Till. Tract., Indo Farm Equip..

🚀 CATALYSTS

Company has delivered good profit growth of 21.5% CAGR over last 5 years

⚖️ ASYMMETRY CHECK

Analyst target range: ₹2,828 — ₹4,642 (mean ₹3,539, 17 analysts).
Favorable asymmetry — upside potential of +41% vs downside floor of -14% (2.9x reward-to-risk).
P/E of 27.4x — fair value territory; catalysts needed for re-rating.

🔭 FUTURE OUTLOOK

Analyst consensus: Hold (17 analysts).
Latest quarter earnings grew 12% YoY — positive trajectory.

✅ 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 31.7 days to 24.8 days

❌ CONS

Stock is trading at 3.08 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.1,673 Cr.
Promoter holding has decreased over last 3 years: -4.86%

VALUATION

17/25

25% WEIGHT

P/E at 27x
P/B at 3.0x
Analyst target: ₹3539 (+7.7%)
1Y return: -0.6%

FINANCIAL HEALTH

15/25

25% WEIGHT

ROE: 12.2%
Profit margin: 21.7%
Revenue growth: 11.3%
Debt/Equity: 1%

GROWTH

16/25

25% WEIGHT

Revenue growth: 11.3%
Earnings growth: 11.7%
Beta: 0.29
Sector: Industrials

TECHNICAL

14/25

25% WEIGHT

RSI, MACD, MA crossovers
200 DMA & 50 EMA position
Volume trend analysis
Price momentum signals

📈 Price Movement

🕯 Candlestick Chart

🎯 Price Prediction · Analyst Target Cone Source: Yahoo Finance Analyst Targets ↗

📉 Valuation Trends (at current CMP)

P/E Ratio at current CMP

💎 Valuation & Financial Metrics

P/E RATIO

27.4x

Trailing twelve months

P/B RATIO

3.0x

Price to Book value

ROE

12.2%

Return on Equity

PROFIT MARGIN

21.7%

Net profit margin

OPM

11.3%

Operating profit margin

ANALYST TARGET

₹3,539

Range: ₹2,828 - ₹4,642

Yahoo Finance ↗

PEG RATIO

1.61

Price/Earnings to Growth

EV/EBITDA

21.5x

Enterprise value ratio

CURRENT RATIO

N/A

Liquidity measure

DIVIDEND YIELD

1.39%

Annual yield

ROA

15.9%

Return on Assets

GROSS MARGIN

29.5%

Gross profit margin

INDUSTRY AVERAGES — TRACTORS

P/E 25.4x (above avg)

P/B 5.0x (sector fair)

ROCE 13.1% (above avg)

ROE 20% (sector good)

OPM 20% (sector good)

Div Yield 0.61%

D/E <30 (sector comfort)

📋 Quarterly Performance Trend

Quarter	Revenue	QoQ %	Net Profit	QoQ %	Op. Cash Flow	EBITDA Margin
Q2 FY25	₹2,277 Cr	—	₹324 Cr	—	N/A	15.2%
Q3 FY25	₹2,948 Cr	+29.5%	₹321 Cr	-1.1%	N/A	15.0%
Q4 FY25	₹2,311 Cr	-21.6%	₹318 Cr	-0.7%	N/A	18.0%
Q1 FY26	₹2,500 Cr	+8.2%	₹1,397 Cr	+338.8%	N/A	22.1%
Q3 FY26	₹3,280 Cr	+31.2%	₹358 Cr	-74.4%	N/A	16.4%

📊 Year-on-Year Trend

FY	Revenue	YoY %	Net Profit	YoY %	Op. Cash Flow	YoY %
FY22	₹7,083 Cr	—	₹736 Cr	—	₹32 Cr	—
FY23	₹8,281 Cr	+16.9%	₹637 Cr	-13.5%	₹224 Cr	+593.6%
FY24	₹9,654 Cr	+16.6%	₹1,077 Cr	+69.1%	₹789 Cr	+252.2%
FY25	₹10,110 Cr	+4.7%	₹1,265 Cr	+17.5%	₹1,003 Cr	+27.2%

📈 Revenue vs Earnings

🎯 EPS: Estimate vs Actual

💰 How Escorts Kubota Limited Makes Its Money

🏦 Snapshot of Escorts Kubota Limited's Balance Sheet

💸 Looking into Escorts Kubota Limited's Cash Flow

📅 Quarterly Results Source: Screener ↗

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales +	2,355	2,478	2,728	2,301	2,574	2,277	2,948	2,445	2,500	2,792	3,280
YOY Sales Growth %	15.90%	31.04%	19.04%	3.89%	9.28%	-8.09%	8.08%	6.27%	-2.86%	22.58%	11.28%
Expenses +	2,024	2,214	2,402	2,015	2,259	2,047	2,616	2,158	2,179	2,432	2,846
Material Cost %	70%	70%	72%	69%	71%	70%	73%	69%	69%	69%	71%
Employee Cost %	6%	8%	6%	8%	7%	8%	7%	8%	8%	7%	7%
Operating Profit	331	264	325	285	315	230	332	287	321	360	435
OPM %	14%	11%	12%	12%	12%	10%	11%	12%	13%	13%	13%
Other Income +	99	94	129	133	140	140	143	178	1,260	134	102
Exceptional items	0	0	28	27	37	24	33	45	1,104	0	-52
Other income normal	99	94	101	106	103	116	110	132	156	134	154
Interest	3	9	11	12	11	10	4	5	4	5	6
Depreciation	40	58	57	59	59	61	62	62	60	62	64
Profit before tax	386	290	386	347	385	299	410	398	1,518	427	466
Tax %	25%	27%	23%	22%	22%	-8%	22%	20%	8%	26%	23%
Net Profit +	290	211	299	270	302	324	321	318	1,397	318	358
Minority share	0	0	-0	0	-0	0	0	0	0	0	-0
Exceptional items AT	0	0	28	27	37	24	33	45	1,085	0	-40
Profit excl Excep	290	211	270	243	264	300	288	274	312	318	399
Profit for PE	290	211	270	243	264	300	288	274	312	318	399
Profit for EPS	290	211	299	270	302	324	321	318	1,397	318	358
YOY Profit Growth %	106%	57%	50%	12%	-9%	43%	6%	12%	18%	6%	38%
EPS in Rs	26.24	19.05	27.01	24.43	27.30	28.98	28.66	28.46	124.88	28.44	32.03
Raw PDF

📊 Profit & Loss Statement Source: Screener ↗

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales +	5,059	6,262	5,810	7,014	7,283	8,429	9,804	10,244	11,017
Sales Growth %	22.05%	23.77%	-7.22%	20.73%	3.82%	15.74%	16.31%	4.49%
Expenses +	4,506	5,539	5,149	5,888	6,317	7,659	8,673	9,080	9,614
Manufacturing Cost %	4%	4%	4%	3%	4%	4%	4%	4%
Employee Cost %	9%	8%	9%	8%	8%	7%	7%	8%
Other Cost %	9%	8%	9%	6%	7%	7%	6%	6%
Operating Profit	553	723	661	1,126	966	770	1,130	1,164	1,403
OPM %	11%	12%	11%	16%	13%	9%	12%	11%	13%
Other Income +	58	99	88	160	174	228	525	601	1,673
Exceptional items	4	7	-8	4	14	-51	143	141
Other income normal	55	92	96	157	160	279	383	459
Interest	29	20	17	13	15	13	42	29	20
Depreciation	73	87	107	118	132	150	224	244	248
Profit before tax	509	715	625	1,155	993	835	1,390	1,492	2,809
Tax %	32%	33%	25%	25%	26%	24%	23%	15%
Net Profit +	347	478	472	872	736	637	1,077	1,265	2,392
Minority share	0	1	1	-0	1	0	0	-0
Exceptional items AT	2	5	-6	3	10	-39	7	0
Profit excl Excep	344	473	477	869	725	675	1,069	1,265
Profit for PE	345	474	478	869	726	676	1,070	1,265
Profit for EPS	347	479	472	871	736	637	1,077	1,265
Profit Growth %	154%	38%	1%	82%	-16%	-7%	58%	18%
EPS in Rs	28.31	39.07	38.53	64.63	55.82	48.26	97.44	113.06	213.81
Dividend Payout %	7%	6%	6%	12%	13%	14%	18%	25%

🏦 Balance Sheet Source: Screener ↗

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	123	123	123	135	132	132	110	112	112
Reserves	2,093	2,551	2,995	4,891	7,468	8,055	9,278	10,255	11,773
Borrowings +	51	281	48	61	52	57	448	105	104
Long term Borrowings	15	4	3	2	0	0	52	0	0
Short term Borrowings	0	269	17	1	0	0	316	2	0
Lease Liabilities	0	0	28	58	52	57	81	103	104
Other Borrowings	36	8	1	0	0	0	0	0
Other Liabilities +	1,706	1,753	1,849	1,791	1,456	1,841	2,563	2,623	3,075
Non controlling int	-0	6	5	-1	-4	-4	-4	-4	-4
Trade Payables	1,234	1,249	1,293	1,195	894	1,261	1,650	1,640	1,992
Advance from Customers	38	42	87	66	99	84	77	56
Other liability items	434	456	464	530	467	500	840	930	1,087
Total Liabilities	3,973	4,707	5,014	6,878	9,108	10,085	12,400	13,095	15,064
Fixed Assets +	1,588	1,647	1,702	1,796	1,841	1,891	2,165	2,053	2,108
Land	1,058	1,058	1,080	1,076	1,076	1,109	1,137	1,053
Building	389	394	408	413	440	453	613	603
Plant Machinery	793	880	957	1,062	1,154	1,263	1,588	1,574
Equipments	10	10	11	11	9	11	14	15
Computers	46	52	53	55	59	64	94	110
Furniture n fittings	69	74	80	88	100	114	146	152
Vehicles	15	29	30	33	26	15	16	11
Intangible Assets	19	17	24	24	26	26	27	25	101
Other fixed assets	99	109	122	180	197	209	182	210
Gross Block	2,497	2,623	2,765	2,942	3,088	3,264	3,816	3,752
Accumulated Depreciation	910	976	1,062	1,146	1,247	1,373	1,651	1,699
CWIP	66	80	125	65	88	114	161	153	141
Investments	549	491	797	1,938	4,836	4,767	5,019	5,605	7,009
Other Assets +	1,770	2,489	2,390	3,079	2,343	3,313	5,054	5,284	5,806
Inventories	566	857	883	718	847	1,218	1,716	1,399	1,449
Cash Equivalents	317	243	325	1,322	272	472	1,206	1,124	2,013
Loans n Advances	1	26	42	29	59	53	40	30	68
Other asset items	294	431	408	352	373	391	664	1,399	722
Total Assets	3,973	4,707	5,014	6,878	9,108	10,085	12,400	13,095	15,064

💰 Cash Flow Statement Source: Screener ↗

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	304	460	-234	797	1,129	32	224	789	1,003
Profit from operations	293	580	727	645	1,109	940	821	1,369	1,405
Receivables	-92	-138	-330	190	56	-150	-398	-42	-170
Inventory	-43	-127	-286	-26	165	-128	-371	-125	167
Payables	159	341	26	78	-35	-246	369	-249	76
Other WC items	31	-93	-155	85	86	-128	-9	76	-117
Working capital changes	55	-18	-745	327	272	-653	-410	-339	-43
Direct taxes	-44	-102	-217	-175	-253	-255	-186	-241	-358
Cash from Investing Activity +	-155	-374	-18	-421	-2,195	-1,856	-62	-759	-194
Fixed assets purchased	-79	-120	-164	-195	-126	-186	-219	-283	-256
Fixed assets sold	14	14	11	5	10	34	6	15	9
Investments purchased	-161	-311	0	-210	-977	-2,840	-423	-136	-234
Investments sold	0	0	179	0	0	34	670	21	0
Interest received	30	25	36	45	48	107	12	21	113
Dividends received	0	0	0	0	0	0	0	0	0
Investment in group cos	0	0	-92	-60	-116	-17	0	0	0
Redemp n Canc of Shares	0	8	0	0	0	0	0	0	0
Other investing items	42	10	11	-6	-1,034	1,012	-108	-397	173
Cash from Financing Activity +	-113	-1	191	-300	1,003	1,810	-71	25	-702
Proceeds from shares	30	251	3	0	1,058	1,902	21	13	25
Proceeds from borrowings	17	0	273	0	0	0	0	149	0
Repayment of borrowings	-120	-213	-42	-261	-17	-3	0	0	-365
Interest paid fin	-29	-22	-14	-10	-8	-10	-9	-37	-25
Dividends paid	-13	-16	-29	-26	-25	-74	-76	-76	-305
Financial liabilities	0	0	0	-3	-5	-6	-7	-26	-30
Other financing items	2	-0	0	0	0	0	0	0	0
Net Cash Flow	36	85	-61	76	-63	-14	91	54	107
Free Cash Flow	238	354	-387	607	1,013	-120	11	521	757
CFO/OP	130%	102%	-2%	147%	123%	30%	53%	91%	117%

📈 Key Financial Ratios

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	40	43	54	46	34	40	51	53	47
Inventory Days	58	61	73	84	56	62	73	90	70
Days Payable	117	132	107	123	94	66	75	87	82
Cash Conversion Cycle	-19	-29	21	7	-3	36	49	57	35
Working Capital Days	-39	-26	12	9	-4	30	39	31	25
ROCE %	13%	26%	28%	21%	28%	16%	11%	14%	14%

🏭 Industry Peers — Tractors

#	Company	CMP	P/E	Mkt Cap	ROCE	Qtr Profit	Score
1	Gurunanak Agri. ★	₹36	9.1	₹43	55.5%	-39.2%	60
2	Escorts Kubota	₹3,298	28.3	₹36,897	13.6%	+38.5%	33
3	VST Till. Tract.	₹5,242	36.1	₹4,536	12.5%	+1707.1%	25
4	Indo Farm Equip.	₹138	22.6	₹664	7.7%	+39.7%	16

★ Gurunanak Agri. ranks higher on combined P/E, ROCE, and growth metrics in Tractors

🏛 Shareholding Pattern

	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	68.04%	68.04%	68.04%	68.04%	68.04%	68.04%
FIIs	5.89%	5.21%	5.22%	5.27%	5.25%	5.71%
DIIs	10.20%	11.34%	11.43%	11.80%	12.20%	11.66%
Public	14.17%	13.72%	13.64%	13.22%	12.86%	12.93%
Others	1.68%	1.68%	1.67%	1.66%	1.66%	1.65%
No. of Shareholders	1,40,792	1,35,098	1,37,631	1,34,658	1,28,122	1,31,303

🟢 CATALYSTS

🏆Positive Revenue Growth: Revenue growing at 11.3% YoY.

💹Healthy Margins (21.7%): Above sector norm of 20%.

🔀Low Beta (0.29): Less volatile than market — defensive play.

🇮Earnings Growth (12%): Above sector norm — strong profit expansion.

🔴 RISKS

📜Market Risk: Broader market correction or sentiment shift could impact stock.

💰Sector Risk: Regulatory or competitive changes in Industrials space.

🔓Execution Risk: Growth may not meet elevated expectations.

🕸 Factor Analysis · Radar

Momentum 6/10
1M +20.0%, 6M -11.2%, RSI 55, MACD bullish, Below 200DMA

Sentiment 6/10
Analyst upside +7.7%, Rec: hold

Value 5/10
P/E 27.4, P/B 3.0, PEG 1.61, EV/EBITDA 21.5

Quality 7/10
Margin 21.7%, D/E 1

Low Volatility 9/10
Beta 0.29, Ann. vol 32%

🎯 Decision Matrix

Action	If Stock Rises	If Stock Falls
BUY	Capture 7.7% analyst upside	OPM of 11% provides margin buffer; P/E 27x vs sector median 23x is a risk
HOLD	Retain existing position; wait for better entry; FII stake rising (+0.46%)	Miss further upside if momentum continues; 1M return of +20.0% shows momentum
SELL	Lock in -0.6% 1Y return; redeploy into Gurunanak Agri. at lower P/E	Avoid further drawdown

REASONS TO BUY

Analyst upside of 7.7% with mean target of ₹3,539
FII stake rising (+0.46%) — signals institutional confidence
Revenue growing at 11.3% YoY (sector norm: 6%)

REASONS TO SELL / AVOID

P/E of 27.4x is 1.2x the sector median of 23x
Gurunanak Agri. offers lower P/E (9.1) with ROCE of 55.5% in the same sector

📰 Latest News

Escorts Kubota Ltd (BOM:500495) Q3 2026 Earnings Call Highlights: Record EBITDA and Strong ...

GuruFocus.com · 2026-02-10T19:00

India's Escorts Kubota posts quarterly profit rise on higher tractor sales

Reuters · 2026-02-10T09:40

Escorts Kubota Ltd (BOM:500495) Q2 2026 Earnings Call Highlights: Strong Revenue Growth and ...

GuruFocus.com · 2025-11-04T19:00

India's Escorts Kubota profit rises on strong tractor demand

Reuters · 2025-11-04T09:05

India's Escorts Kubota posts first-quarter profit rise as margins improve

Reuters · 2025-08-04T09:52

RECOMMENDATION

SPECULATIVE BUY

COMPOSITE SCORE

62/100

Escorts Kubota Limited trades at ₹3,287.60 with a composite risk score of 62/100. The stock scores 17/25 on valuation, 15/25 on financial health, 16/25 on growth, and 14/25 on technicals. The company is currently profitable with moderate return on equity.

Analyst consensus suggests upside of 7.7% with a mean target of ₹3539. Revenue growth is at 11.3%.

Within Tractors, Gurunanak Agri. (P/E 9.1, ROCE 55.5%) ranks higher on techno-fundamental metrics and may be worth considering.

Bottom Line: Positive for Industrials but monitor closely. The current recommendation is SPECULATIVE BUY.

PROFITABLE