Escorts Kubota, which makes tractors, for Q4FY24 reported a 30.5% (YoY) jump in net profit at Rs.242 crore on a 5% decline in revenue at Rs.2082 crore.

EBITDA for the quarter came in at Rs.266 crore while margins rose from 10.8% to 12.7%.

The company declared a dividend of Rs.18/share on FV of Rs.10/share for FY24.

This apart, the company has planned on a  capex of Rs.300 crore for FY25, which is over and above the Rs.400 crore spend it has planned for buying the 250 acres land in Nimrana in Rajasthan for setting up a greenfield plant.

The company recently showcased am electric tractor has started exporting the same to USA and Europe; it has exported 3000 of these electric tractors so far.

With predictions of above normal monsoon for current year, company expects sales to pickup only in H2FY25.

The market has given a big thumbs up to this performance with the stock going on to hit a new life time high today at Rs.3581.95, up 4%.