Auto Ancillary stock engaged in the business of manufacturing Agriculture machinery, Construction & Material Handling Equipment, Railway equipment, and many others jumped 3 percent in the day’s trade upon posting its Q4FY24 results with a 16 percent jump in Net Profits.
With a market capitalization of Rs. 38,665 Crores, the shares of Escorts Kubota Limited were trading at Rs. 3,499, up 1.63 percent from its previous day’s close price of Rs. 3,443.
Its revenue from operations declined by 5.46 percent YoY from Rs. 2,214.48 Crores in Q4FY23 to Rs. 2,093.53 Crores in Q4FY24 and it declined by 11 percent QoQ from Rs. 2,341.62 Crores in Q3FY24 to Rs. 2,093.53 Crores in Q4FY24. Annually it generated a revenue of Rs. 8,428.69 Crores in FY23 and Rs. 8849.62 Crores in FY24 indicating a growth of 5 percent YoY.
Its Net Profit grew by 16 percent YoY from Rs. 216.46 Crores in Q4FY23 to Rs. 251.89 Crores in Q4FY24 and it declined by 11 percent QoQ from Rs. 284.01 Crores in Q3FY24 to Rs. 251.89 Crores in Q4FY24. Annually it generated a profit of Rs. 636 Crores in FY23 and Rs. 1049.08 Crores in FY24 indicating a growth of 65 percent YoY.
In Addition, the Board of Directors of Escorts Kubota has recommended a Dividend at 180 percent i.e., Rs. 18 per equity share with a face value of Rs. 10 per share for the financial year 2023-24.
Escorts Kubota Limited is one of the leading engineering companies engaged in the business of manufacturing Agriculture machinery, Construction & Material Handling Equipment, Railway equipment, and many others.
Escorts Kubota Limited’s tractors division made sales of 7,515 units in April 2024 against the sales of 7,565 units in April 2023, following a decline in sales by 0.7 percent. Its construction equipment business made sales of 446 units in April 2024 against 457 units sold in April 2023 following a decline in sales by 2.4 percent.
Written by: Bharath K.S
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