Escorts Kubota Limited sold 12,119 tractors in March 2026, up from 11,374 units in March 2025. Construction equipment sales rose to 765 machines from 614 machines in the same period. The figures were disclosed to BSE Limited and the National Stock Exchange of India on April 1, 2026, in compliance with SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.
The March numbers bring the curtain down on what has been a broadly positive year for the company's Agri Machinery division, following a particularly strong February. Escorts Kubota sold 10,339 tractors in February 2026, up 20.4% from 8,590 units in February 2025. Domestic tractor sales in February rose 22.1% to 9,725 units compared to 7,968 units in the same month the previous year. The March growth rate, while more moderate at 6.6%, still reflects a continuation of that upward trend.
Domestic tractor volumes in March 2026 stood at 11,582 units, a 7.5% increase over the 10,775 units sold in March 2025. The company said performance was supported by sustained rural demand and the gradual onset of Rabi harvesting in select regions. It added that while harvesting activities were delayed in some areas due to rainfall, reservoir levels across the country remained above normal, which is expected to support agricultural activity in the coming months.
Export sales, however, moved in the opposite direction. March 2026 exports came in at 537 tractors, a 10.4% decline from 599 units in March 2025. This mirrors the trend seen a month earlier, when export sales dipped marginally to 614 units in February 2026 from 622 units, a drop of 1.3%. The company has not provided a specific explanation for the export weakness, though it has flagged the evolving geopolitical environment as a source of intermittent supply-side risk.
For the full financial year April 2025 to March 2026, total tractor sales reached 1,33,670 units, a 15.7% increase over the 1,15,554 units sold in FY25. Domestic volumes for the full year grew 14.9%, while exports rose 33.8%. On a cumulative basis for the April–February period of FY26, total tractor sales had already reached 1,21,551 units against 1,04,180 units in the same 11-month period of FY25, a rise of 16.7%. The March additions placed the company firmly above its prior-year full-year total.
The company attributed the tractor growth seen earlier in the year to rural sentiment, farm activity, government policies, a GST reduction, and expectations around the Rabi season. Looking ahead, the company cautioned that the geopolitical situation poses risks to the availability of key fertilizers, which could affect Kharif crop preparedness — a factor that may weigh on demand in the first half of FY27.
On the construction equipment side, the March performance was notably firm. The 765 machines sold in March 2026 represented a 24.6% jump over 614 machines in March 2025. This was a step up from February, when the company sold 588 machines, up 4.8% from 561 machines in February 2025. The company said demand in March was supported by steady project execution and a growing order pipeline, though global supply chain uncertainty tied to geopolitical tensions remains a near-term risk.
The full-year construction equipment picture was more mixed. Total sales for FY26 came in at 5,794 machines, a 10.6% decline from the 6,484 units recorded in FY25. The cumulative 11-month figure for FY26 had already stood at 5,029 machines, down 14.3% from 5,870 units in the same period of FY25. The strong Q4 performance — 1,877 machines in January–March 2026, up 9.2% year-on-year — suggests some recovery in the final quarter, though it was not enough to close the full-year gap.
Escorts Kubota Limited operates two primary business divisions — Agri Machinery and Construction Equipment — and has been in manufacturing for over eight decades. The company traces its origins to Escorts Limited and is listed on both BSE (500495) and NSE (ESCORTS). Its registered office is located in Faridabad, Haryana. The disclosures were signed by Bharat Madan, Whole Time Director and Chief Financial Officer.