Escorts Kubota Receives ₹46.37 Crore GST Refund

19 Aug 2025 , 12:17 PM

Escorts Kubota Ltd. on Monday (August 18) said it has received approval for a GST refund of ₹46.37 crore from the Excise & Taxation Officer, Faridabad (East), Haryana. The refund was sanctioned against a total claim of ₹46.67 crore filed by the company under Rule 89(1) of the Haryana GST Act, 2017. The claim was made for input tax credit (ITC) accumulated under the inverted duty structure.

A small portion of the claim, amounting to ₹29.78 lakh, was rejected by the authority on the grounds of ineligible ITC. The order was passed by the Excise & Taxation Officer with Escorts Kubota Limited as the applicant in the matter.

On the earnings front, the company reported a net profit of ₹1,397 crore in Q1 FY26, marking an increase of ₹302 crore YoY, aided by an exceptional gain of ₹76 crore booked during the quarter. Revenue slipped 3% YoY to ₹2,500 crore in Q1FY26, compared with ₹2,574 crore in the same quarter last year. EBITDA remained steady at ₹322 crore, with the EBITDA margin improving by 50 basis points to 13%, reflecting better cost efficiency despite softer revenue.

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