Escorts Kubota Limited CC-Feb26.pdf · 2026-02-10
Yes, sir. Thank you for the opportunity and congratulations on a very strong performance. S ir, my question is again on the FY27 outlook. As we consider positive first half, maybe around 15% -17% type of growth and current inventory being one of the lowest level, which should help for the next few months, but August onwards, this year's base effect will have impact , and as we understand the monsoon 2026 will be the deciding factor for second half, but if we go into the detail in terms of the state-wise number, all the states are going to report a record high volume performance for FY26 and additionally support for few states like Maharashtra subsidy and all. So, in best case scenario, second half can be flattish type of number. So, full year number would be like a low single -digit growth, which will be much lower than the long-term average. What is your understanding on that, sir? Even if the growth would not be there, then growth would not be very high, maybe not even 6-7%.
Thanks, sir. S ir, second question is on the construction equipment side. As industry has done reasonably good on sequential basis YoY, of course, because of the base effect, there was an impact, but still, if you look at a longer period of last four, five years or even going forward, the industry is not picking up the way other segments like recently eve n construction or commercial vehicle also started doing very strong with 20%-30% growth. So, what are the major challenges or do you think anytime soon in next one year or two, we will see similar 20%-30% growth possible as base has been much lower over the last many years?