Escorts Kubota sells 13,205 tractors in October 2023; Stock down ~3%

Escorts Kubota Limited Agri Machinery Business Division in October 2023 sold 13,205 tractors as against 14,492 tractors sold in October 2022, according to the data released by the company on Wednesday.

“The festive season this year is delayed and spread across two months; hence October sales were slightly muted compared to last year. November, however, looks positive with key festivals in the first half of the month. Going forward, all macroeconomic factors remain positive, and we expect the demand momentum to continue for the remaining part of this fiscal”, Escorts Kubota said in a regulatory filing.

Accordingly, domestic tractor sales in October 2023 were at 12,642 tractors as against 13,843 tractors sold in October 2022.

Also, export tractor sales in October 2023 were at 563 as against 649 tractors sold in October 2022.

On Wednesday at around 11:08 AM, shares of Escorts Kubota were trading at ₹3048.30 per share lower by 2.72% on the BSE.