Escorts Kubota Limited has released the transcript of its earnings conference call held on February 10, 2026. The call discussed the company's financial performance for the quarter and nine months ended December 31, 2025. Key financial highlights included a standalone operating revenue of ₹3,261.4 crore, up 11.1% year-on-year, and the highest-ever quarterly EBITDA of ₹438.7 crore, up 30.9% year-on-year, with margins at 13.5%. Net profit from continuing operations stood at ₹362.4 crore, a 24.7% year-on-year increase. Adjusted for a one-time impact from the new labor code, net profit grew by 38.3% year-on-year to ₹401.6 crore, marking the highest-ever quarterly profit after tax. On a consolidated basis, revenue from continuing operations was ₹3,280.5 crore, up 11.3% year-on-year. EBITDA was ₹434.7 crore with a margin of 13.3%. Adjusted for the one-time impact of the new labor code, normalized profit grew by 38.1% year-on-year. The company announced a one-time special dividend of ₹18.0 per equity share following the divestment of its railway business. The tractor business saw a 13.5% year-on-year increase in total tractor volumes to 36,955 units, with domestic sales growing by 12% year-on-year. Exports also saw significant growth, increasing by approximately 63% year-on-year to 1,582 tractors. The construction equipment business experienced a year-on-year decline in industry volume due to a high base from the previous year and other factors. However, sequentially, the company's volume was up by 49.7%. The company is focused on launching new models and expects the construction equipment sector to see a turnaround with increased government capital expenditure. Management discussed future outlooks, including potential impacts of subsidies, El Nino, and commodity prices. They also touched upon plans for expanding production capacity, including a new greenfield facility, and the strategy for the construction equipment business to achieve a 6%-7% CAGR till FY30. The company is also working on introducing new products and platforms to enhance its market position and profitability.
