Escorts Kubota: Haryana contract labour costs up 35% since April
3 November 2026 · 2 min read · HireHo
Based on a BW People report on Escorts Kubota's Q2 FY27 (July-September 2026) earnings call, published on 3 November 2026. Summarised in our own words.
+35%Haryana contract manpower cost since April
Rs 3,231 crrevenue, up 16.3%
Rs 255 crnet profit, down 20.6%
9.9%EBITDA margin, from 13.1%
Escorts Kubota said its cost of contract manpower in Haryana has risen 35% since 1 April 2026. CFO Bharat Madan shared this on the company's earnings call for the July-September quarter. The article does not say exactly which Haryana rule changed.
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Where the cost pressure comes from
- Manpower and process costs make up about 20% of the total cost pressure.
- Raw materials make up the other 75-80%. Commodity prices were up about 8-9% by end-September, and steel and rubber may rise 2-3% more.
- The company built extra stock ahead of the season, so it ran factories harder than sales needed. That added to manpower costs this quarter.
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The results
Revenue rose 16.3% to Rs 3,231.4 crore, but net profit fell 20.6% to Rs 255 crore. The company has raised prices by about 6-7% in total and aims to save about 1% a year through design and buying changes.
What this means for you
- Higher contract wages are good news for workers in Haryana's factories.
- Manufacturers facing higher labour costs may hire more carefully, or look at automation and other states.
- Contract staffing agencies should expect clients to negotiate harder on rates.
SourcesBW People: Escorts Kubota flags 35% rise in Haryana contract labour costsHireHo explains these reports in its own words. Figures belong to the sources above.
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