Escorts Kubota cuts capex for FY24 by over Rupees 100 crore

Escorts Kubota, India’s fourth largest tractor manufacturer, has had to realign capital expenditure (capex) for the year due to delay in certain projects. The company, however, hopes to have a significantly larger capex in FY25.

The revised capex earmarked by the Delhi-based company for FY24 is around Rs 200-225 crore, down from Rs 350 crore planned earlier.

Speaking to FE, Bharat Madan, whole-time director and chief financial officer, Escorts Kubota said, “Projects are slightly delayed and that’s why the ordering may happen but cash flow will not happen to the extent we had guided earlier.”