October 3rd 2023.
Escorts Kubota Limited announced on Tuesday that their Construction Equipment Business Division had sold 592 machines in September 2023, a 51.8% increase compared to the 390 machines sold in September 2022. The company expressed their optimism in their exchange filing, stating that the growth momentum of the construction equipment industry will accelerate further during the festive season, thanks to the nation's infrastructure development and increased CAPEX outlay.
The total sales for September 2023 were 592 units, with 1,577 units sold in Q2, and 2,950 units sold in the first six months of the fiscal year. On Tuesday morning, Escorts Kubota Limited's shares were at Rs 3,069, a decrease of 3.65%.
Unfortunately, the tractor sales for the same period have decreased by 11.2%, indicating that the construction equipment industry is still facing some challenges. Despite this, Escorts Kubota Limited and its Construction Equipment Business Division remain hopeful for the future, with the expectation of a growth in the industry in the months to come.
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