Escorts Kubota Limited · NSE:ESCORTS
Escorts Kubota — Q4 FY2024 Earnings Presentation
38 slides from Escorts Kubota's earnings presentation, May 9, 2024
Slide 1: Intimation of Press Release / Earning Presentation to exchanges
May 9, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai – 400001 Bandra East, Mumbai – 400051 BSE – 500495 NSE - ESCORTS Sub: Intimation of Press Release/ Earning Presentation Dear Sir/ Ma’am, Please find
Slide 2: EKL Standalone FY24 Profit up by 70.9% to ₹1,037.2 Crore
€ Kubota Escorts Kubota Limited EKL Standalone FY24 Profit up by 70.9% to = 1,037.2 Crore Highest Ever e Tractor volumes at 95,858 units. * Construction Equipment volumes up by 41.7% YoY to 6,548 units. ° Standalone EBIDTA up by 49.8% at % 1,168.8 crore. o Margin up by 396 bps to 13.3% ° Standalone
Slide 3: Press release: consolidated and segment-wise performance
€ Kubota Escorts Kubota Limited For the quarter ended March 2024 standalone net profit came at % 242.1 core up by 30.5% YoY as against = 185.5 core in the previous year. Revenue from operations at = 2,082.5 crores as against % 2,183.0 crore in the previous year. EBIDTA at % 265.9 Core up by 12.8% Yo
Slide 4: Press release: construction equipment and railway products
© Kubota Escorts Kubota Limited For the quarter ended March 2024, Construction equipment sales volume went up by 17.7% to 1,798 machines as against 1,528 machines in corresponding period of the previous year. Segment revenues went up by 23.8% at = 476.6 crore in quarter ending March 2024 as against
Slide 5: Q4 FY24 Earning Presentation
Q4 FY24 | EARNING PRESENTATION 9th May 2024 BSE: 500495 | NSE: ESCORTS 09-05-2024 Escorts Kubota Limited 1
Slide 6: Safe Harbor
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 tha
Slide 7: Contents
CONTENTS 01 02 03 04 Company FY Standalone Q4 Standalone Segment Wise Overview Highlights Highlights Performance 05 06 07 Shareholding Q4/FY Annexure & Pattern Consolidated Narrations Highlights 09-05-2024 Escorts Kubota Limited 3
Slide 8: Escorts Kubota Limited: Overview
Escorts Kubota Limited: Overview (Formerly Escorts Limited) Standalone Revenue in ₹. Crore. Escorts Kubota Limited (EKL) A leading engineering conglomerate with FY24 8,777 a history of over seven decades, steering India’s socio-economic growth through pioneering contribution in critical industrial s
Slide 9: …a true wealth creator…
…a true wealth creator… EKL Market Capitalization (₹ Crores) 39,100 30,690 24,950 22,310 18,710 10,030 9,760 8,120 6,600 610 1,480 1,560 1,710 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 As on 8 May 2024 As on 31 March for corresponding year. S&P BSE 200 ~ 4.5X Nifty 50 ~ 4X EKL Cred
Slide 10: Standalone Highlights – FY24 YoY
Standalone Highlights – FY24 YoY Industry EKL Particulars Variance Growth Growth Domestic Tractor Volume -7.4% -5.3% 2.1% Export Tractor Volume -21.4% -30.0% -8.5% Total Tractor Volume -9.0% -7.2% 1.8% PNC Volume 52.3% 48.8% -3.5% BHL Volume 22.6% 2.4% -20.2% Compactor Volume 42.2% 40.1% -2.1% Serve
Slide 11: FY Standalone Highlights – EKL at a Glance
FY Standalone Highlights – EKL at a Glance 95,858 6,548 ₹ 950.4 Crore Tractors Volumes Construction Equipment’s Volume Revenue from Railway Equipment -7.2% 41.7% 12.9% ₹ 8,776.7 Crore ₹ 1,168.8 Crore ₹ 1,037.2 Crore Revenue From Operations EBIDTA Profit After Tax 5.2% 49.8% 70.9% The board of direct
Slide 12: FY Standalone Highlights – P&L at a Glance
FY Standalone Highlights – P&L at a Glance Particulars Unit FY24 FY23 Variance Revenue from Operations ₹ Cr. 8,776.7 8,345.0 5.2% Material Cost % 68.8 72.7 -392 bps Manpower Cost % 7.3 7.1 13 bps EBIDTA ₹ Cr. 1,168.8 780.4 49.8% EBIDTA Margin % 13.3 9.4 396 bps Other Income ₹ Cr. 398.3 280.6 42.0% P
Slide 13: FY - YoY Revenue up by 5.2%; EBIT up by 95.0%
FY - YoY Revenue up by 5.2%; EBIT up by 95.0% ₹ Cr. Revenue Key Highlights • Tractor Sales at 95,858 units down by 7.2%. • Construction Equipment Sales up by 41.7% at 6,548 units • Railway Equipment revenue up by 12.9% at ₹ 950.4 Crore. ₹ Cr. EBIT Key Highlights • Better price realization. • Softeni
Slide 14: FY24 Standalone Highlights – EKL at a Glance
FY24 Standalone Highlights –EKL at a Glance ₹ 92.79 16.0% 11.8% Earning Per Share Return on Capital Employed Return on Equity (Annualized) (Annualized) ~80% ~70% ~₹ 950 Crore Capacity Utilization Capacity Utilization Of Order Book Agri Machinery Construction Equipment Railway Equipment Division (as
Slide 15: Standalone Highlights – Q4FY24 YoY
Standalone Highlights – Q4FY24 YoY Industry EKL Particulars Variance Growth Growth Domestic Tractor Volume -18.9% -13.7% 5.1% Export Tractor Volume 6.5% -20.4% -26.8% Total Tractor Volume -16.2% -14.2% 2.0% PNC Volume 39.5% 24.8% -14.7% BHL Volume 16.7% -16.4% -33.1% Compactor Volume 31.5% 6.1% -25.
Slide 16: Q4 Standalone Highlights – EKL at a Glance
Q4 Standalone Highlights –EKL at a Glance 21,253 1,798 ₹ 213.4 Crore Tractors Volumes Construction Equipment’s Volume Revenue from Railway Equipment -14.2% -18.3% 17.7% -0.1% -10.1% 4.1% (Y-o-Y) (Q-o-Q) (Y-o-Y) (Q-o-Q) (Y-o-Y) (Q-o-Q) ₹ 2,082.5 Crore ₹ 265.9 Crore ₹ 242.1 Crore Revenue from operatio
Slide 17: Q4 Standalone Highlights – P&L at a Glance
Q4 Standalone Highlights – P&L at a Glance YoY QoQ Particulars Unit Q4FY24 Q4FY23 Q3FY24 (Change) (Change) Revenue from Operations ₹ Cr. 2,082.5 2,183.0 2,320.4 -4.6% -10.3% Material Cost % 68.1 71.5 69.4 -343 bps -125 bps Manpower Cost % 7.6 7.2 7.0 40 bps 52 bps EBIDTA ₹ Cr. 265.9 235.8 312.7 12.8
Slide 18: Q4 - YoY Revenue down by 4.6%; EBIT up by 19.4%
Q4 - YoY Revenue down by 4.6%; EBIT up by 19.4% ₹ Cr. Revenue Key Highlights • Tractor Sales down by 14.2% at 21,253 units • Construction Equipment Sales up by 17.7% at 1,798 units • Railway Equipment revenue down by 10.1% at ₹ 213.4 Crore. ₹ Cr. EBIT Key Highlights • Better product mix and price re
Slide 19: Q4 - QoQ Revenue down by 10.3%; EBIT down by 12.7%
Q4 - QoQ Revenue down by 10.3%; EBIT down by 12.7% ₹ Cr. Revenue Key Highlights • Tractor Sales down by 18.3% at 21,253 units • Construction Equipment Sales down by 0.1% at 1,798 units • Railway Equipment revenue up by 4.1% at ₹ 213.4 Crore. ₹ Cr. EBIT Key Highlights • Impacted by volume drop in Agr
Slide 20: Q4FY24 Standalone Highlights – EKL at a Glance
Q4FY24 Standalone Highlights –EKL at a Glance ₹ 22.33 14.4% 10.7% Earning Per Share Return on Capital Employed Return on Equity (Annualized) (Annualized) ~75% ~80% ~₹ 950 Crore Capacity Utilization Capacity Utilization Of Order Book Agri Machinery Construction Equipment Railway Equipment Division (a
Slide 21: Segment Wise Performance
Segment Wise Performance 09-05-2024 Escorts Kubota Limited 17
Slide 22: Agri Machinery: Powering The Dreams Of Farmer
Agri Machinery Powering The Dreams Of Farmer 09-05-2024 Escorts Kubota Limited 18
Slide 23: Q4 Agri Machinery Domestic Performance
Q4 Agri Machinery Domestic Performance Domestic Tractor Industry (in Lakhs) EKL Domestic Tractor Volumes -27.3% QoQ 2.4 -19.1% QoQ -18.9%YoY 24,628 -13.7% YoY 2.1 23,081 19,912 1.7 Q3FY24 Q4FY23 Q4FY24 Q3FY24 Q4FY23 Q4FY24 EKL-Tractor Share of Market at 11.6% in Q4FY24 Growth De-Growth rounded off t
Slide 24: Q4 Agri Machinery Export Performance
Q4 Agri Machinery Export Performance Export Tractor Industry (in ‘000s) EKL Export Tractor Volumes -20.4% YoY 1,684 6.5% YoY 26.5 -2.2% QoQ 24.9 24.3% QoQ 1,371 1,341 21.3 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Export through Kubota channel 37%+ 5.1% Share of Market in Q4FY24 of total Export volu
Slide 25: FY Agri Machinery Domestic Performance
FY Agri Machinery Domestic Performance Domestic Tractor Industry (in Lakhs) EKL Domestic Tractor Volumes 9.5 95,266 -5.3% YoY -7.4% YoY 8.8 90,239 FY23 FY24 FY23 FY24 EKL-Tractor Share of Market at 10.3% in FY24 Growth De-Growth rounded off to nearest single decimal 09-05-2024 Escorts Kubota Limited
Slide 26: FY Agri Machinery Export Performance
FY Agri Machinery Export Performance Export Tractor Industry (in ‘000s) EKL Export Tractor Volumes 124.54 8,024 -21.4% YoY -30.0% YoY 97.83 5,619 FY23 FY24 FY23 FY24 Export through Kubota channel 39%+ 5.7% Share of Market in FY24 of total Export volume Growth De-Growth rounded off to nearest single
Slide 27: Agri Machinery Product Performance – Q4/FY24 Highlights
Agri Machinery Product Performance – Q4/FY24 Highlights Particulars Unit Q4FY24 YoY QoQ FY24 YoY Revenue ₹ Cr. 1,390.7 -10.7% -16.1% 6,110.1 -3.3% EBIT % 11.2% 123 bps -268 bps 12.7% 344 bps Capacity Utilization % ~75 ~80 ROCE (Annualized) % 25.0% 32.2% Q4FY24 • FT:PT Domestic sales ratio at 47:53 a
Slide 28: Construction Equipment: Building a Better Tomorrow
Construction Equipment Building a Better Tomorrow Preferred Partner In Nation Building 09-05-2024 Escorts Kubota Limited 24
Slide 29: Q4 - Construction Equipment Performance
Q4 - Construction Equipment Performance Served Industry Performance (000’s) EKL Construction Equipment Volumes -0.1% QoQ 17..7% YoY 1,800 1,798 21.7% YoY 14.4% QoQ 21.9 1,528 19.1 18.0 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 BHL Industry up by 16.7% YoY PnC Industry up by 39.5% YoY Compactors Indu
Slide 30: FY - Construction Equipment Performance
FY - Construction Equipment Performance Served Industry Performance (000’s) EKL Construction Equipment Volumes 6,548 29.1% YoY 71.5 41.7% QoQ 55.4 4,620 FY23 FY24 FY23 FY24 BHL Industry up by 22.6% YoY PnC Industry up by 52.3% YoY Compactors Industry up by 42.2% YoY Growth De-Growth rounded off to n
Slide 31: Construction Equipment Performance – Q4/FY24 Highlights
Construction Equipment Performance – Q4/FY24 Highlights YoY QoQ YoY Particulars (EKL) Unit Q4FY24 (Change) (Change) FY24 (Change) Volume Nos. 1,798 17.7% -0.1% 6,548 41.7% PNC SOM % 35.9% -422 bps -475 bps 38.8% -91 bps Compactor SOM % 5.8% -140 bps -98 bps 6.6% -10 bps BHL SOM % 1.0% -41 bps -8 bps
Slide 32: Railway Equipment Division: Mobility Solutions
Railway Equipment Division Mobility Solutions Of the future ENSURING SAFETY AND COMFORT IN RAIL TRANSPORT 09-05-2024 Escorts Kubota Limited 28
Slide 33: Railway Equipment Performance – Q4/FY24 Highlights
Railway Equipment Performance – Q4/FY24 Highlights YoY QoQ YoY Particulars (EKL) Unit Q4FY24 (Change) (Change) FY24 (Change) Revenue ₹ Cr. 213.4 -10.1% 4.1% 950.4 12.9% EBIT % 16.9% 290 bps -154 bps 18.9% 510 bps Order Book ₹ Cr. ~ 950 ~ 950 ROCE (Annualized) % 43.8% 45.7% Up Down At Par Standalone
Slide 34: Shareholding Pattern
Shareholding Pattern Shareholding Trend Category Mar'2023 June'2023 Sept'2023 Dec'2023 Mar'2024 Promoters 72.9 67.6 67.6 67.6 67.6 Institutions# 12.8 15.5 16.0 15.3 15.6 Public 12.7 15.0 14.4 15.2 14.9 Non Promoter Non Public 1.7 2.0 1.9 1.9 1.9 Total 100.0 100.0 100.0 100.0 100.0 Capital Reduction
Slide 35: Q4 Consolidated Highlights – P&L at a Glance
Q4 Consolidated Highlights – P&L at a Glance YoY QoQ Particulars Unit Q4FY24 Q4FY23 (Change) Q3FY24 (Change) Revenue from Operations ₹ Cr. 2,093.5 2,214.5 -5.5% 2,341.6 -10.6% Material Cost % 68.0% 71.6% -355 bps 69.3% -128 bps Manpower Cost % 7.7% 7.2% 46 bps 7.1% 58 bps EBIDTA ₹ Cr. 260.6 233.2 11
Slide 36: FY Consolidated Highlights – P&L at a Glance
FY Consolidated Highlights – P&L at a Glance YoY Particulars Unit FY24 FY23 (Change) Revenue from Operations ₹ Cr. 8,849.6 8,428.7 5.0% Material Cost % 68.8% 72.6% -386 bps Manpower Cost % 7.3% 7.2% 12 bps EBIDTA ₹ Cr. 1,166.7 777.5 50.1% EBIDTA Margin % 13.2% 9.2% 396 bps Other Income ₹ Cr. 398.6 2
Slide 37: Narrations
Narrations • EKL - Escorts Kubota Limited • AM – Agri Machinery Products • FY – Fiscal Year represents the 12 months period from 1st • CE – Construction Equipment April to 31st March. • RED – Railway Equipment • Q4FY23 – Represents the 3 months period from 1st January • BHL – Backhoe Loader 2023 to
Slide 38: Thank You
THANK YOU Contact Details Prateek Singhal Investor Relations & ESG Escorts Kubota Ltd. (CIN: L74899HR1944PLC039088) Corporate Centre 15/5 Mathura Road, Faridabad – 121003 Phone: +91 129 2250222 www.escortskubota.com Email - Investor.relation@escortskubota.com / prateek.Singhal@escortskubota.com 09-0