Escorts Kubota shares plunge after tractor maker trims industry volume guidance

Escorts Kubota shares plummeted on Friday, persevering with to fall for the fourth session in a row, after the Haryana-based firm projected a 6-7 per cent fall in trade volumes within the tractor phase for the present monetary 12 months. The Escorts Kubota inventory weakened by as a lot as Rs 282.3, or 9.6 per cent, to Rs 2,647.5 apiece on BSE.

The steering was in stark distinction to the corporate’s earlier projection of no change on a year-on-year foundation, and advised a fall of 12-13 per cent for the trade within the quarter ending March.  

The agricultural tools maker additionally reported its monetary outcomes for the October-December interval that had been largely in step with analysts’ expectations. 

Escorts Kubota Q3 outcomes

Within the remaining half-hour of commerce on Thursday, Escorts Kubota reported a 48.8 per cent year-on-year leap in standalone internet revenue to Rs 277.3 crore for the October-December interval.

Its income grew 2.5 per cent to Rs 2,320.4 crore for the fiscal third quarter, in response to a regulatory submitting. 

In accordance with Zee Enterprise analysis, Escorts Kubota was estimated to register a quarterly internet revenue of Rs 272 crore and income of Rs 2,385 crore.   

Escorts Kubota’s margin, a key measure of profitability, stood at 13.5 per cent for the fiscal third quarter. Zee Enterprise analysts had estimated the tractor maker’s margin for the interval at 13.6 per cent.

What analysts say on Escorts Kubota after the tractor maker’s Q3 earnings 

CLSA maintained a ‘promote’ ranking on Escorts Kubota after the agricultural equipment maker’s outcomes however raised its goal for the inventory to Rs 2,013 from Rs 2,002.

The brokerage’s goal implies a 31.3 per cent fall from the earlier shut. 

JPMorgan saved its ‘underweight’ name on Escorts Kubota however raised its goal to Rs 1,935 per share from Rs 1,900 per share. 

Macquarie continued with its ‘impartial’ ranking on Escorts Kubota with a goal of Rs 2,960. 

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