ESCORTS · Capital Goods
Escorts Kubota Ltd. reported revenue of ₹2,728 cr for October to December 2023, — on the year and +10.1% on the quarter.
Operating profit (EBITDA) was ₹325 cr, a margin of 11.9%, — on the year and +126 bps on the quarter.
Net profit was ₹299 cr, — on the year and +41.7% on the quarter, with earnings per share of ₹27.01.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
Other income was 33% of profit before tax.
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2,478 cr | ₹2,728 cr | ₹2,301 cr | ₹2,574 cr | ₹2,277 cr | ₹2,948 cr | ₹2,445 cr | ₹2,500 cr | ₹2,792 cr | ₹3,280 cr | ₹2,968 cr | ₹3,208 cr |
| YoY | — | — | — | +9% | −8% | +8% | +6% | −3% | +23% | +11% | +21% | +28% |
| EBITDA margin | 10.7% | 11.9% | 12.4% | 12.2% | 10.1% | 11.3% | 11.7% | 12.8% | 12.9% | 13.3% | 12.8% | 11.0% |
| Other income, % of PBT | 32% | 33% | 38% | 36% | 47% | 35% | 45% | 83% | 31% | 22% | 29% | 42% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 27% | 23% | 22% | 22% | −8% | 22% | 20% | 8% | 26% | 23% | 25% | 22% |
| Net profit | ₹211 cr | ₹299 cr | ₹270 cr | ₹302 cr | ₹324 cr | ₹321 cr | ₹318 cr | ₹1,397 cr | ₹318 cr | ₹358 cr | ₹321 cr | ₹386 cr |
| YoY | — | — | — | +4% | +54% | +7% | +18% | +363% | −2% | +12% | +1% | −72% |
| Core profit YoY | — | — | — | −15% | −19% | +4% | +3% | +5% | +84% | +36% | +39% | +10% |
| EPS | ₹19.05 | ₹27.01 | ₹24.43 | ₹27.30 | ₹28.98 | ₹28.66 | ₹28.46 | ₹124.88 | ₹28.44 | ₹32.03 | ₹28.65 | ₹34.50 |
| Flags | 1 | 1 | 1 | 2 | 3 | ✓ | ✓ | 3 | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Escorts Kubota Ltd. reported revenue of ₹2,728 cr (— on the year) and net profit of ₹299 cr (— on the year) for October to December 2023.
1 check raised a question: Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.