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Escorts Kubota Limited 1 BSE: 500495 | NSE: ESCORTS Q3 FY25 | EARNING PRESENTATION 10th February 2025 10-02-2025
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Escorts Kubota Limited 01 02 03 04 05 06 07 Company Overview Q3 Standalone Highlights 9M Standalone Highlights Segment Wise Performance Shareholding Pattern Q3/9M Consolidated Highlights Annexure & Narrations CONTENTS 210-02-2025
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Escorts Kubota Limited 310-02-2025 Please Note 1. The National Company Law Tribunal, Chandigarh Bench (NCLT) has approved the Scheme of Amalgamation of Escorts Kubota India Private Limited and Kubota Agricultural Machinery India Private Limited (Amalgamating Companies) with Escorts Kubota Limited (Amalgamated Company). The certified copy of the approval was received by the company on August 29, 2024, and filed with the Registrar of Companies on September 1, 2024. In order to reflect the Scheme's impact from the appointed date of April 1, 2023, the Company has restated previously reported numbers. Accordingly, numbers reported here for the current as well as previous period(s) include numbers of the amalgamating companies also. 2. The Board of the Directors of the Company on October 23, 2024 has approved the sale/ transfer of its division engaged in the business of manufacturing, assembly, sales, servicing, research and development of railway equipment products including parts thereto (“RED Business”) as a going concern, on a ‘slump sale’ basis, as defined under Section 2(42C) of the Income-tax Act, 1961. During the quarter, the RED business has been disclosed under discontinued operations and previous periods are also reclassified in terms of Ind As 105 "Non-current assets held for sale and discontinued operations". Escorts Kubota Limited
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Escorts Kubota Limited Q3 Standalone Highlights – Q3FY25 YoY *Served Construction Equipment include- PNC Cranes, Backhoe loaders, Mini Excavators and Compactors 4 % rounded off to nearest single decimal 10-02-2025 Negative Positive Particulars Industry Growth EKL Growth Variance Domestic Tractor Volume 13.5% 6.0% -7.4% Export Tractor Volume 3.9% -29.2% -33.1% Total Tractor Volume 12.7% 4.5% -8.2% PNC Volume 4.2% 3.0% -1.2% BHL Volume 17.7% -31.1% -48.8% Mini Excavator 26.1% 3.8% -22.3% Compactor Volume 6.2% -21.0% -27.2% Served Construction Equipment Volume* 14.5% -0.9% -15.5% Continuing Operations
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Escorts Kubota Limited 5 Q3 Standalone Highlights (Continuing Operations) EKL at a Glance % rounded off to nearest single decimal 10-02-2025 32,556 Tractors Volumes 4.5% 25.2% (Y-o-Y) (Q-o-Q) 1,989 Construction Equipment’s Volume -0.9% 42.7% (Y-o-Y) (Q-o-Q) ₹ 2,935.4 Crore Revenue from Operations 8.5% 29.6% (Y-o-Y) (Q-o-Q) Up Down ₹ 335.3 Crore EBIDTA 3.6% 44.0% (Y-o-Y) (Q-o-Q) ₹ 290.5 Crore Profit After Tax 7.7% -4.0% (Y-o-Y) (Q-o-Q) ₹ 323.2 Crore Profit After Tax (Including Discontinued Operations) 8.5% -1.1% (Y-o-Y) (Q-o-Q)
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Escorts Kubota Limited Unit Q3FY25 Q3FY24 Q2FY25 YoY (Change) QoQ (Change) Revenue from Operations ₹ Cr. 2,935.4 2,706.4 2,264.9 8.5% 29.6% Material Cost % 73.1 72.5 69.6 57 bps 344 bps Manpower Cost % 6.8 6.4 8.2 32 bps -146 bps EBIDTA ₹ Cr. 335.3 323.8 232.8 3.5% 44.0% EBIDTA Margin % 11.4 12.0 10.3 -54 bps 114 bps Other Income ₹ Cr. 109.2 100.4 115.2 8.8% -5.2% PBT ₹ Cr. 380.2 357.3 277.9 6.4% 36.8% PAT ₹ Cr. 290.5 269.8 302.7 7.7% -4.0% EPS ₹ 26.41 24.58 27.52 7.4% -4.0% PBT ₹ Cr. 43.8 37.6 32.2 16.5% 36.4% PAT ₹ Cr. 32.7 28.1 24.0 16.5% 36.1% EPS ₹ 2.98 2.56 2.19 16.4% 36.1% PAT ₹ Cr. 323.2 297.9 326.7 8.5% -1.1% EPS ₹ 29.39 27.14 29.71 8.3% -1.1% Particulars Continuing OperationsDiscontinued OperationsTotal Standalone Financials 6 Q3 Standalone Highlights – P&L at a Glance % rounded off to nearest single decimal 10-02-2025 Negative Positive
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Escorts Kubota Limited 367.7 -13.8 16.6 12.7 383.2 Q3FY24 AM CE Unallocated Q3FY25 EBIT 7 Q3 - YoY Revenue up by 8.5%; EBIT up by 4.2% (Continuing Operations) Standalone Continuing Operations Financials 10-02-2025 rounded off to nearest single decimal Revenue Key Highlights • Tractor Sales up by 4.5% at 32,556 units • Construction Equipment Sales down by 0.9% at 1,989 units 2,706.4 207.7 20.2 1.2 2,935.4 Q3FY24 AM CE Unallocated Q3FY25 Revenue Increase Decrease Total EBIT Key Highlights • Operating leverage in Construction Equipment Business. • Higher non-operating income. • Margin dilution due to merger ₹ Cr. ₹ Cr.
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Escorts Kubota Limited 287.0 80.1 21.4 -5.2 383.2 Q2FY25 AM CE Unallocated Q3FY25 EBIT 8 Q3 - QoQ Revenue up by 29.6%; EBIT up by 33.5% (Continuing Operations) 10-02-2025 rounded off to nearest single decimal 2,264.9 532.5 135.8 2.3 2,935.4 Q2FY25 AM CE Unallocated Q3FY25 Revenue Increase Decrease Total EBIT Key Highlights • Operating leverage across Business Segment • Margin adversely impacted due to inflation & Lower non-operating income. ₹ Cr. ₹ Cr. Revenue Key Highlights • Tractor Sales up by 25.2% at 32,556 units • Construction Equipment Sales up by 42.7% at 1,989 units Standalone Continuing Operations Financials
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Escorts Kubota Limited 910-02-2025 ₹ 29.39 Earning Per Share 17.0% Return on Capital Employed (Annualized) 12.9% Return on Equity (Annualized) ~60% Capacity Utilization Tractors ~95% Capacity Utilization Construction Equipment Q3FY25 Standalone Highlights –EKL at a Glance Standalone Financials The board of directors have declared interim dividend of ₹ 10.00 per equity share.
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Escorts Kubota Limited 9M Standalone Highlights – 9MFY25 YoY 10 % rounded off to nearest single decimal 10-02-2025 *Served Construction Equipment include- PNC Cranes, Backhoe loaders, Mini Excavators and Compactors Negative Positive Particulars Industry Growth EKL Growth Variance Domestic Tractor Volume 4.9% 0.5% -4.4% Export Tractor Volume -0.1% -26.2% -26.0% Total Tractor Volume 4.4% -0.8% -5.2% PNC Volume -5.1% -5.4% -0.3% BHL Volume 7.9% -16.5% -24.4% Mini Excavator 5.6% -10.2% -15.8% Compactor Volume 7.3% -30.9% -38.2% Served Construction Equipment Volume* 5.2% -8.1% -13.3%
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Escorts Kubota Limited 11 88,921 Tractors Volumes -0.8% 4,765 Construction Equipment’s Volume -8.1% ₹ 7,756.7 Crore Revenue Operations 4.2% ₹ 885.0 Crore EBIDTA 5.1% ₹ 859.3 Crore Profit After Tax 22.8% ₹ 953.4 Crore Profit After Tax (Including Discontinued Operations) 18.2% Standalone Financials % rounded off to nearest single decimal 10-02-2025 9M Standalone Highlights (Continuing Operations) EKL at a Glance Up YoY Down YoY
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Escorts Kubota Limited Standalone Financials 12 9M Standalone Highlights – P&L at a Glance % rounded off to nearest single decimal Negative Positive 10-02-2025 Unit 9MFY25 9MFY24 Variance Revenue from Operations ₹ Cr. 7,756.7 7,441.1 4.2% Material Cost % 71.3 71.7 -40 bps Manpower Cost % 7.2 6.9 27 bps EBIDTA ₹ Cr. 885.0 842.1 5.1% EBIDTA Margin % 11.4 11.3 9 bps Other Income ₹ Cr. 326.8 285.5 14.4% PBT ₹ Cr. 1,008.2 935.5 7.8% PAT ₹ Cr. 859.3 699.6 22.8% EPS ₹ 78.16 61.22 27.7% PBT ₹ Cr. 126.1 143.1 -11.9% PAT ₹ Cr. 94.1 107.0 -12.1% EPS ₹ 8.56 9.37 -8.6% PAT ₹ Cr. 953.4 806.6 18.2% EPS ₹ 86.72 70.59 22.9% Continuing OperationsDiscontinued Operations Particulars Total
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Escorts Kubota Limited 963.2 (1.9) 19.4 49.9 1,030.6 9MFY24 AM CE Unallocated 9MFY25 EBIT (YoY) Revenue Key Highlights • Tractor Sales down by 0.8% to 88,921 units • Construction Equipment Sales down by 8.1% to 4,765 units 7,441.1 351.8 -36.2 -0.1 7,756.7 9MFY24 AM CE Unallocated 9MFY25 Revenue (YoY) Increase Decrease Total EBIT Key Highlights • Higher non-operating income. • Softening in commodity prices. • Better price realization. ₹ Cr. ₹ Cr. 13 9M - YoY Revenue up by 4.2%; EBIT up by 7.0% (Continuing Operations) 10-02-2025 rounded off to nearest single decimalStandalone Continuing Operations Financials
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Escorts Kubota Limited 14 ₹ 86.72 Earning Per Share 15.5% Return on Capital Employed (Annualized) 13.0% Return on Equity (Annualized) Standalone Financials % rounded off to nearest single decimal 10-02-2025 9MFY25 Standalone Highlights –EKL at a Glance ~70% Capacity Utilization Tractors ~75% Capacity Utilization Construction Equipment
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Escorts Kubota Limited 15 Segment Wise Performance Escorts Kubota Limited10-02-2025
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Escorts Kubota Limited 16 Segmental Revenue Contribution XX% Segmental Contribution to total Operating revenue 10-02-2025 82% 82% 83% 84% 82% 18% 18% 17% 16% 18% Q3FY25 Q3FY24 Q2FY25 9MFY25 9MFY24 Agri Machinery Products Construction Equipments 2,935.4 2,706.1 2,264.9 7,756.7 7,441.1Revenue in ₹. Crore % of Revenue
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Escorts Kubota Limited 1710-02-2025 Agri Solution Engine Spare Parts and Service Agri Machinery Products Non-Tractor Business Tractor Business Global Sourcing
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Escorts Kubota Limited PROMAXX delivers exceptional performance with advanced technology and a sleek design, offering superior comfort and versatility for various applications Market Segmentation : 31-50 HP 1810-02-2025 Recent Products Launch – Tractor Business C l(1Jl)')t'l F,.O..Fl 'IVl~Fl~C: Escorts Kubota Limited -------- FAAIVIT'RAC 39 L KIi ■~ 391 HIP CAT I 2W□ FARIVITAAC 142 L 2 ."llii:jj( FA.RIVl"TR'.A.C: 45 · · ~ l='ARJVITRAC 47 47 HP - 2WDl4WD 42 HIP-2WDl4WO 45 HP - 2WDl4WD
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Escorts Kubota Limited 1910-02-2025 Recent Products Showcase – Agri Solution Business Straw Reaper Orange Rotavator Half-feed Track Combine Full-feed Track Combine Ride-on Rice Transplanter
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Escorts Kubota Limited 20 Tractor Industry Growth De-Growth10-02-2025 rounded off to nearest single decimal 2.4 2.1 2.7 Q3FY24 Q2FY25 Q3FY25 27.0% QoQ 13.5% YoY 7.0 7.4 9MFY24 9MFY25 4.9% YoY 71.4 71.3 - 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 9MFY24 9MFY25 -0.1% YoY Domestic Industry (in Lakhs) Export Industry (in ‘000s) 21.3 24.5 22.1 Q3FY24 Q2FY25 Q3FY25 3.9% YoY -9.6% QoQ
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Escorts Kubota Limited 21 EKL Tractor Business Growth De-Growth10-02-2025 rounded off to nearest single decimal Domestic Export Share of Market in % 29,784 24,768 31,585 12.7% 11.8% 11.8% 10. 0% 11. 0% 12. 0% 13. 0% 14. 0% 15. 0% 4,00 0 9,00 0 14,0 00 19,0 00 24,0 00 29,0 00 34,0 00 Q3FY24 Q2FY25 Q3FY25 27.5% QoQ 6.0% YoY 85,371 85,762 12.1% 11.6% 9.8 % 10. 8% 11. 8% 12. 8% 13. 8% 14. 8% 4,00 0 14,0 00 24,0 00 34,0 00 44,0 00 54,0 00 64,0 00 74,0 00 84,0 00 94,0 00 9MFY24 9MFY25 0.5% YoY 1,371 1,227 971 6.4% 5.0% 4.4% 2.0 % 4.0 % 6.0 % 8.0 % 10. 0% 12. 0% - 200 400 600 800 1,00 0 1,20 0 1,40 0 1,60 0 Q3FY24 Q2FY25 Q3FY25 -29.2% YoY -20.9% QoQ 4,278 3,159 6.0% 4.4% 2.0 % 4.0 % 6.0 % 8.0 % 10. 0% 12. 0% - 500 1,00 0 1,50 0 2,00 0 2,50 0 3,00 0 3,50 0 4,00 0 4,50 0 9MFY24 9MFY25 -26.2% YoY
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Escorts Kubota Limited 2210-02-2025 Particulars Unit Q3FY25 YoY (Change) QoQ (Change) 9MFY25 YoY (Change) ₹ Cr. 2,416.6 9.4% 28.3% 6,472.5 5.7% % 10.4% -161 bps 130 bps 10.5% -63 bps % ~60 ~70 % 32.9% 29.1%ROCE (Annualized) Capacity Utilization Tractors Revenue EBIT Agri Machinery Products – Segment Performance Exclusive Dealers for EKL Brands of tractor in India at end of December 2024 ~ 1,540. Less than 40 HP : Greater than 40 HP Tractor Sales Ratio in Q3FY25 at 32:68 as against 35:65 YoY and 34:66 QoQ and in 9MFY25 at 33:67 as that of 39:61 YoY. Non-Tractor : Tractor Revenue Ratio in Q3FY25 at 21:79 as against 19:81 YoY and 18:82 QoQ and in 9MFY25 at 20:80 as that of 17:83 YoY. Export through Kubota channel of total Export volume ~27% in Q3FY25 and ~ 22% in 9MFY25. Up Down
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Escorts Kubota Limited 23 Construction Equipments 10-02-2025 NA PREFERRED PART ~ or~~~ ?t'l Construct · o a Limited ion Eq • uipment
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Escorts Kubota Limited 24 Construction Equipment Business Performance Growth De-Growth10-02-2025 rounded off to nearest single decimal 19.9 16.6 22.8 Q3FY24 Q2FY25 Q3FY25 14.5% YoY 37.2% QoQ 51.7 54.3 9MFY24 9MFY25 5.2% YoY 5,183 4,765 1,50 0 2,00 0 2,50 0 3,00 0 3,50 0 4,00 0 4,50 0 5,00 0 5,50 0 9MFY24 9MFY25 -8.1% YoY EKL Construction Equipment Volumes Served Industry Performance (000’s) 2,008 1,394 1,989 Q3FY24 Q2FY25 Q3FY25 42.7% QoQ -0.9% YoY
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Escorts Kubota Limited 2510-02-2025 Recent Products launches BLX75 Backhoe Loader Hydra 12 Xcellent Performance | Safety | Operator Comfort | Durability Longer Steering Cylinder | Pneumatically actuated brakes | Heavy duty straight axle with constant mesh transmission gear box (8F+2R) | Heavy duty Cerametallic Clutch | Negative Luffing angle
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Escorts Kubota Limited 2610-02-2025 Recent Products Upgrade CEV Stage V compliant product range
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Escorts Kubota Limited Particulars (EKL) Unit Q3FY25 YoY (Change) QoQ (Change) 9MFY25 YoY (Change) PNC SOM % 40.2% 39.9% Mini Excavator SOM % 21.3% 18.1% Compactor SOM % 5.1% 4.4% BHL SOM % 0.6% 0.9% Capacity Utilization* % ~95 ~70 Revenue ₹ Cr. 515.7 4.1% 35.7% 1,276.2 -2.8% EBIT % 11.0% 291 bps 171 bps 10.3% 176 bps ROCE (Annualized) % 144.1% 201.9% Standalone Financials 27 Construction Equipments Performance – Q3/9MFY25 Highlights % rounded off to nearest single decimal 10-02-2025 Up Down * Capacity varies across product category.
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Escorts Kubota Limited ENSURING SAFETY AND COMFORT IN RAIL TRANSPORT Railway Equipments (Discontinued Operations) 2810-02-2025 Mobility Solu ' - --- . . - -- -- - ------· - . . ------ - --
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Escorts Kubota Limited Standalone Financials 29 Railway Equipments Performance – Q3/9MFY25 Highlights Discontinued Operations % rounded off to nearest single decimal 10-02-2025 Up Down At Par On 23rd October 2024 EKL has entered into the Business Transfer Agreement with Sona BLW Precision Forgings Limited (Sona Comstar) for transferring the existing Railway Equipment Business Division (RED) as going concern, on slump sale basis, for a lumpsum cash consideration of INR 1,600 Crore (Indian Rupees One Thousand and Six Hundred Crores Only), subject to the terms of the Agreement. This divestment of RED is subject to customary closing conditions, including the receipt of necessary approvals and permissions. Order Book at the end of Dec 2024 stands at ₹ 890 Crore, excluding BMBS Orders for approx. ₹ 383 cr. supplies of which have temporarily been on hold by RDSO. Particulars (EKL) Unit Q3FY25 YoY (Change) QoQ (Change) 9MFY25 YoY (Change) Revenue ₹ Cr. 200.4 -2.2% -5.1% 656.3 -11.0% PAT ₹ Cr. 32.7 8.5% -1.1% 94.1 -12.1%
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Escorts Kubota Limited 30 # FPI/Financial Institutions/ Banks/Insurance Companies/QIB/AIF Shareholding Pattern 10-02-2025 Shareholding Trend in % Dec'2023 Mar'2024 June'2024 Sept'2024 Dec'2024 Promoters 67.64 67.64 67.64 68.04 68.04 Institutions# 15.55 15.61 16.81 16.54 16.10 Public 14.91 14.89 13.82 13.73 14.18 Non-Promoter Non-Public 1.90 1.86 1.73 1.70 1.68 Total 100.00 100.00 100.00 100.00 100.00 In September 2024 quarter 13,79,493 equity shares allotted under the Scheme of Amalgamation as approved by National Company Law Tribunal, Chandigarh Bench.
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Escorts Kubota Limited 31 Q3 Consolidated Highlights – P&L at a Glance % rounded off to nearest single decimal Negative Positive 10-02-2025 Unit Q3FY25 Q3FY24 Q2FY25 YoY (Change) QoQ (Change) Revenue from Operations ₹ Cr. 2,948.0 2,727.6 2,277.3 8.1% 29.5% Material Cost % 73.0% 72.4% 69.6% 59 bps 343 bps Manpower Cost % 6.9% 6.5% 8.4% 40 bps -146 bps EBIDTA ₹ Cr. 332.8 325.5 229.9 2.2% 44.7% EBIDTA Margin % 11.3% 11.9% 10.1% -65 bps 119 bps Other Income ₹ Cr. 109.9 100.5 116.0 9.3% -5.3% PBT ₹ Cr. 377.1 358.0 275.0 5.3% 37.1% PAT ₹ Cr. 287.9 270.4 300.2 6.5% -4.1% EPS ₹ 26.18 24.64 27.29 6.3% -4.1% PBT ₹ Cr. 43.8 37.6 32.2 16.5% 36.4% PAT ₹ Cr. 32.7 28.1 24.0 16.5% 36.1% EPS ₹ 2.98 2.56 2.19 16.4% 36.1% PAT ₹ Cr. 320.6 298.5 324.2 7.4% -1.1% EPS ₹ 29.16 27.20 29.48 7.2% -1.1% Particulars Continuing OperationsDiscontinued OperationsTotalNegative Positive
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Escorts Kubota Limited 32 9M Consolidated Highlights – P&L at a Glance % rounded off to nearest single decimal Negative Positive 10-02-2025 Unit 9MFY25 9MFY24 YoY (Change) Revenue from Operations ₹ Cr. 7,799.0 7,502.9 3.9% Material Cost % 71.3% 71.7% -41 bps Manpower Cost % 7.3% 7.0% 34 bps EBIDTA ₹ Cr. 877.8 845.3 3.8% EBIDTA Margin % 11.3% 11.3% -1 bps Other Income ₹ Cr. 328.8 285.6 15.1% PBT ₹ Cr. 1,000.1 935.7 6.9% PAT ₹ Cr. 852.4 699.6 21.8% EPS ₹ 77.54 63.76 21.6% PBT ₹ Cr. 126.1 143.1 -11.9% PAT ₹ Cr. 94.1 107.0 -12.1% EPS ₹ 8.56 9.75 -12.2% PAT ₹ Cr. 946.5 806.6 17.3% EPS ₹ 86.10 73.51 17.1% Continuing OperationsDiscontinued OperationsTotal Particulars Negative Positive
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Escorts Kubota Limited • EKL - Escorts Kubota Limited • FY – Fiscal Year represents the 12 months period from 1st April to 31st March. • Q3FY24 – Represents the 3 months period from 1st October 2023 to 31st December 2023. • Q2FY25 – Represents the 3 months period from 1st July 2024 to 30th September 2024. • Q3FY25 – Represents the 3 months period from 1st October 2024 to 31st December 2024. • 9MFY24 – Represents the 9 months period from 1st April 2023 to 31st December 2023. • 9MFY25 – Represents the 9 months period from 1st April 2024 to 31st December 2024 • QoQ – Represents Quarter on Quarter • YoY – Represents Year on Year • LY – Represents Last Year • CY – Represents Current Year • FT – Farmtrac PT - Powertrac KBT - Kubota 33 • AG – Agri Machinery Products • CE – Construction Equipment • RED – Railway Equipment • BHL – Backhoe Loader • SOM – Share of Market • NPD – New Product Developed • PnC – Pick & Carry Crane • NSE – National Stock Exchange of India • BSE – Bombay Stock Exchange • EBIDTA - Earnings Before Interest, Depreciation & Taxes • EBIT- Earnings Before Interest & Taxes • PBT – Profit Before Tax • PAT – Profit After Tax • ROE – Return on Equity, Calculated as PAT divided by Average capital employed. • ROCE – Return on Capital Employed, calculated as EBIT divided by Average capital Employed for the quarter. 10-02-2025 Narrations
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Escorts Kubota Limited 3410-02-2025 Safe Harbor Certain statements in this document may include forward-looking comments and information concerning the company’s plans and projections for the future, including estimates and assumptions with respect to economic, political, technological, weather, market acceptance and other factors that impact our businesses and customers. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Escorts Kubota Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. Accounting standard: Financials in presentation are as per IndAS. All numbers are rounded off to nearest decimal
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Escorts Kubota Limited 3510-02-2025 Contact Details Prateek Singhal Investor Relations & ESG Escorts Kubota Ltd. (CIN: L74899HR1944PLC039088) Corporate Centre 15/5 Mathura Road, Faridabad – 121003 Email - Investor.relation@escortskubota.com | Phone: +91 129 2564921 | www.escortskubota.com THANK YOU