Rating Upgrade Ka Asli Reason Kya Hai?
CRISIL ne Escorts Kubota Limited (EKL) ka outlook 'Positive' isliye kiya kyunki company financials mein bahut achha perform kar rahi hai aur Kubota Corporation ke saath bhi integration kaafi smooth chal raha hai. EKL ne 9MFY26 mein ₹8,572 crore ka revenue report kiya hai, jo pichhle saal se 9.91% zyada hai. Is growth ka bada credit tractor volumes ko jaata hai, jo 16.3% badhe hain. Lagta hai farmers ko tractors ki demand hai!
Mota Profit Aur Cash Ka Bhandaar!
Aur suno, company ke profits bhi chamak gaye. Operating margins 170 basis points (bps) badh kar 13.0% ho gaye hain, jo pichhle saal 11.3% the. Ismein higher exports ka bhi bada role hai aur input costs bhi stable rahe. Sabse mazedaar baat yeh hai ki company par koi debt nahi hai, matlab debt-free hai! Aur cash surplus bhi ₹9,000 crore ke aas-paas pahunch gaya hai, jo March 2025 mein ₹6,729 crore tha. Pichhle ~₹1,750 crore railway business bechne se bhi aaye.
Future Plans Aur Investments
CRISIL ko umeed hai ki EKL ka revenue aage bhi 8-9% grow karega aur operating margins 12-13% ke beech stable rahenge. Company ne future ke liye bhi bade plans banaye hain. Agle 4-5 fiscals mein ₹3,000-3,500 crore ka investment karke ek naya manufacturing plant lagane ki planning hai. Isse tractors, construction equipment aur spare parts ka production badhayenge. Rozmarra ke maintenance ke liye ₹300-400 crore ka annual capex hoga. Company ki annual cash generation ₹1,100-1,200 crore tak hai, jo in sab kharchon ko bina loan liye manage kar legi.
Iske alawa, company apni joint ventures ko EKL mein merge kar rahi hai, jisse Kubota Corporation ki shareholding 54.07% ho gayi hai. Aur EKL ne apna khud ka finance company bhi launch kiya hai, Escorts Kubota Finance Ltd (EKFL), jismein aage ~₹500 crore invest karenge growth support ke liye.