Shares of Escorts Kubota Ltd fell 1.5% after touching a day’s high of Rs 3,639.10 on 19th August, following the company’s announcement that the Excise & Taxation Officer, Faridabad (East), Haryana, had sanctioned a refund of Rs 46.37 crore out of the total claim of Rs 46.67 crore filed under Rule 89(1) of the Haryana GST Act, 2017.

Escorts Kubota stated that its GST refund claim was filed due to the input tax credit (ITC) accumulated under the inverted duty structure. Of the total Rs 46.67 crore claimed, Rs 29.78 lakh was rejected by authorities as ineligible ITC.

Q1 FY26 Results:

• Net profit: Rs 1,397 crore, up Rs 302 crore from last year, supported by an exceptional gain of Rs 76 crore.

• Revenue: Rs 2,500 crore, down 3% YoY from Rs 2,574 crore.

• EBITDA: Flat at Rs 322 crore, with EBITDA margin improving 50 bps to 13%.

At 12:27 PM, the shares of Escorts Kubota were trading 1.13% lower at Rs 3,582.80 on NSE.

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