Escorts Kubota's July Sales down by 18.3% y-o-y at 5,360 tractors; stock slips ~1%

1 Aug 2022 , 11:52 AM

Escorts Kubota Limited announced its July 2022 sales today. Following this, company’s counter witnessed a decline of nearly 1% so far, and was last trading at Rs1,714.70 per share, against its previous close of Rs1,733 on the National Stock Exchange.

The company’s Agri Machinery Segment reported a sale of 5,360 tractors in July 2022, as compared to 6,564 tractors in July 2021, down by 18.30% yoy.

Company’s Domestic Tractor Sales witnessed a decline of 22.30% on a y-o-y basis at 4,704 units in July 2022 as compared to 6,055 units in July 2021.

However, company’s export sales during the quarter logged a growth of 28.90% yoy at 656 units in July 2022 as compared to 509 units in July 2021.

For the period April-July 2022, the company reported total sales of 32,157 units as against 32,499 units in the previous corresponding period, down by 1.10% yoy.

Domestic YTD (April-July 2022) sales reported a decline of 4.10% yoy at 29,312 units as compared to 30,555 units in the previous comparable period. However, YTD export sales registered a growth of 46.30% on a y-o-y basis at 2,845 units.