3 Two Wheeler and Electric Mobility Maker, Tractor and Construction Equipment Company and Utility Vehicle Leader Stocks With a Strong Future Roadmap: TVS Motor Company, Escorts Kubota and Mahindra and Mahindra
- October 29, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
TVS Motor Company, Escorts Kubota and Mahindra and Mahindra: ROE of 10.9% to 31.6% and FY22 to FY26 revenue CAGR of 12.9% to 23.1%. Prices as of 28 Oct 2026.
Quick Answer
The three tractor, scooter and utility vehicle stocks to watch are TVS Motor Company, Escorts Kubota and Mahindra and Mahindra. Their return on equity ranges from 10.9% to 31.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.9% to 23.1%. TVS Motor Company leads on both return on equity at 31.6% and revenue growth at 23.1% a year. Prices are based on the 28 October 2026 close, and this article is educational, not investment advice.
Tractor, scooter and utility vehicle stocks give investors a way to track businesses that sit close to everyday demand in India. TVS Motor Company, Escorts Kubota and Mahindra and Mahindra cover a two wheeler and electric mobility maker, a tractor and construction equipment company and a utility vehicle leader.
This list covers three tractor, scooter and utility vehicle stocks with complete current figures: TVS Motor Company, Escorts Kubota and Mahindra and Mahindra. Every figure comes from the latest reported financials and the 28 October 2026 market close. Companies without complete current figures were left out.
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What Are Tractor, Scooter and Utility Vehicle Stocks?
Tractor, scooter and utility vehicle stocks are listed companies that make motorcycles, scooters and electric two wheelers, sell tractors, construction equipment and railway components, and build utility vehicles, tractors and commercial vehicles. Their earnings depend on rural demand, new launches and export growth.
Tractor, Scooter and Utility Vehicle Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| TVS Motor Company | 4,239.9 | 193,408 | 53.7 | 24.1 | 31.6 | 3.43 |
| Escorts Kubota | 2,706.3 | 29,460 | 21.3 | 23.4 | 10.9 | 0.01 |
| Mahindra and Mahindra | 2,869.9 | 354,157 | 17.5 | 23.4 | 18.4 | 1.44 |
On valuation, Escorts Kubota and Mahindra and Mahindra trade at a P/E below the industry P/E, while TVS Motor Company trades above it, which reflects the growth the market already expects. Readers comparing tractor, scooter and utility vehicle stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in tractor, scooter and utility vehicle stocks can use the coming numbers to test whether growth is holding.
Why Do Tractor, Scooter and Utility Vehicle Stocks Have a Strong Roadmap in India?
Tractor, scooter and utility vehicle stocks have a strong roadmap in India because rising rural incomes, a steady shift toward electric and premium vehicles and wider farm mechanisation keep widening the market for these vehicle and farm machinery makers.
- Rural demand. Farm incomes support tractor and two wheeler sales.
- Electric push. New electric models widen the product range.
- Export reach. Overseas sales add a second growth engine.
Why TVS Motor Company Features Among These Tractor, Scooter and Utility Vehicle Stocks
Among the tractor, scooter and utility vehicle stocks on this list, TVS Motor Company is a Chennai-based maker of motorcycles, scooters, mopeds, electric two-wheelers and three-wheelers, sold across India and in many international markets.
In the June 2026 quarter, revenue grew 34.3% year on year to Rs 16,454 crore, while net profit rose 64.5% to Rs 1,058 crore. Revenue rose from Rs 24,388 crore in FY22 to Rs 56,092 crore in FY26, a compound annual growth rate of 23.1%.
Net profit grew from Rs 731 crore in FY22 to Rs 3,186 crore in FY26, which works out to a compound annual growth rate of 44.5%. The company has a return on equity of 31.6%, a debt to equity ratio of 3.43 and a market capitalisation of Rs 193,408 crore. The stock trades at a P/E of 53.7, above the industry P/E of 24.1.
Roadmap: The company is widening its premium motorcycle and electric scooter range and growing exports to Africa, Latin America and Asia. A wide dealer and service network supports repeat demand across urban and rural markets.
What to watch: Follow monthly volumes, electric vehicle launches and export growth.
Why Escorts Kubota Features Among These Tractor, Scooter and Utility Vehicle Stocks
Among the farm and mobility shares on this list, Escorts Kubota makes tractors, construction equipment and railway components, and it sells farm machinery under the Farmtrac, Powertrac and Kubota brands in India and overseas.
The company has a return on equity of 10.9%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 29,460 crore. The stock trades at a P/E of 21.3, below the industry P/E of 23.4.
Revenue rose from Rs 7,456 crore in FY22 to Rs 12,107 crore in FY26, a compound annual growth rate of 12.9%. Net profit grew from Rs 736 crore in FY22 to Rs 1,366 crore in FY26, which works out to a compound annual growth rate of 16.7%. In the June 2026 quarter, revenue grew 28.6% year on year to Rs 3,415 crore.
Roadmap: The company is expanding its tractor range and export reach and growing its construction equipment and railway segments. Farm mechanisation and infrastructure spending support demand.
What to watch: Track tractor volumes, monsoon trends and growth in construction equipment and railway components.
Why Mahindra and Mahindra Features Among These Tractor, Scooter and Utility Vehicle Stocks
Among the three companies on this list, Mahindra and Mahindra is a leading maker of utility vehicles, tractors and commercial vehicles in India, and it also has businesses in farm services, logistics and renewable energy.
Revenue rose from Rs 91,105 crore in FY22 to Rs 202,084 crore in FY26, a compound annual growth rate of 22.0%. Net profit grew from Rs 7,253 crore in FY22 to Rs 18,622 crore in FY26, which works out to a compound annual growth rate of 26.6%.
In the June 2026 quarter, revenue grew 27.5% year on year to Rs 59,204 crore, while net profit rose 37.0% to Rs 5,998 crore. The company has a return on equity of 18.4%, a debt to equity ratio of 1.44 and a market capitalisation of Rs 354,157 crore. The stock trades at a P/E of 17.5, below the industry P/E of 23.4.
Roadmap: The company is launching new utility and electric vehicle platforms while its tractor business benefits from farm mechanisation. A strong brand in rural and semi-urban India supports volumes.
What to watch: Track utility vehicle bookings, tractor demand and progress on new electric platforms.
TVS Motor Company vs Escorts Kubota vs Mahindra and Mahindra on Key Financials
The table below sets the three tractor, scooter and utility vehicle stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| TVS Motor Company | 24,388 | 56,092 | 23.1% | 3,186 | 5.7% |
| Escorts Kubota | 7,456 | 12,107 | 12.9% | 1,366 | 11.3% |
| Mahindra and Mahindra | 91,105 | 202,084 | 22.0% | 18,622 | 9.2% |
TVS Motor Company posts the highest return on equity in this group at 31.6%. Mahindra and Mahindra has the largest FY26 revenue at Rs 202,084 crore, and TVS Motor Company shows the fastest revenue growth with a 23.1% compound annual rate. A useful habit with tractor, scooter and utility vehicle stocks is to check each new quarterly result against the capacity plans the company described earlier. Many investors spread money across several two wheeler and farm equipment stocks instead of one name, which keeps a single result from deciding the outcome.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| TVS Motor Company | 12,250 | 16,454 | 34.3% |
| Escorts Kubota | 2,656 | 3,415 | 28.6% |
| Mahindra and Mahindra | 46,446 | 59,204 | 27.5% |
Key Risks to Check Before Investing in Tractor, Scooter and Utility Vehicle Stocks
Every theme carries risks that deserve a check before any decision. For these tractor, scooter and utility vehicle stocks, the main points are: Long-term farm and mobility shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Farm cycles. Tractor and crop input demand follows the monsoon and farm incomes.
- Production cycles. Vehicle output can vary with demand.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter tractor, scooter and utility vehicle stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Tractor, Scooter and Utility Vehicle Stocks
Tractor, scooter and utility vehicle stocks work best when investors track growth, valuation and return on equity side by side. TVS Motor Company, Escorts Kubota and Mahindra and Mahindra each have a clear plan to grow. Based on the 28 October 2026 close, TVS Motor Company trades at Rs 4,239.9, Escorts Kubota at Rs 2,706.3 and Mahindra and Mahindra at Rs 2,869.9. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these tractor, scooter and utility vehicle stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are tractor, scooter and utility vehicle stocks?
Ans. Tractor, scooter and utility vehicle stocks are listed companies that make motorcycles, scooters and electric two wheelers, sell tractors, construction equipment and railway components, and build utility vehicles, tractors and commercial vehicles. Their earnings depend on rural demand, new launches and export growth. This list looks at three of them, TVS Motor Company, Escorts Kubota and Mahindra and Mahindra, using reported FY22 to FY26 financials and the 28 October 2026 closing prices.
Which tractor, scooter and utility vehicle stocks are covered in this list?
Ans. This list covers TVS Motor Company, Escorts Kubota and Mahindra and Mahindra. Based on the 28 October 2026 close, TVS Motor Company traded at Rs 4,239.9, Escorts Kubota at Rs 2,706.3 and Mahindra and Mahindra at Rs 2,869.9. Their return on equity ranges from 10.9% to 31.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.9% to 23.1%.
Why do tractor, scooter and utility vehicle stocks have a strong future roadmap in India?
Ans. Tractor, scooter and utility vehicle stocks have a strong roadmap in India because rising rural incomes, a steady shift toward electric and premium vehicles and wider farm mechanisation keep widening the market for these vehicle and farm machinery makers. The main drivers are as follows. Rural demand. Farm incomes support tractor and two wheeler sales. Electric push. New electric models widen the product range. Export reach. Overseas sales add a second growth engine. Together these factors give the companies on this list a visible path for growth over the coming years.
How has TVS Motor Company performed financially?
Ans. Revenue rose from Rs 24,388 crore in FY22 to Rs 56,092 crore in FY26, a compound annual growth rate of 23.1%. Net profit grew from Rs 731 crore in FY22 to Rs 3,186 crore in FY26, which works out to a compound annual growth rate of 44.5%. In the June 2026 quarter, revenue grew 34.3% year on year to Rs 16,454 crore, while net profit rose 64.5% to Rs 1,058 crore. The company has a return on equity of 31.6%, a debt to equity ratio of 3.43 and a market capitalisation of Rs 193,408 crore. The stock trades at a P/E of 53.7, above the industry P/E of 24.1. Looking ahead, the company is widening its premium motorcycle and electric scooter range and growing exports to Africa, Latin America and Asia. A wide dealer and service network supports repeat demand across urban and rural markets.
How has Escorts Kubota performed financially?
Ans. Revenue rose from Rs 7,456 crore in FY22 to Rs 12,107 crore in FY26, a compound annual growth rate of 12.9%. Net profit grew from Rs 736 crore in FY22 to Rs 1,366 crore in FY26, which works out to a compound annual growth rate of 16.7%. In the June 2026 quarter, revenue grew 28.6% year on year to Rs 3,415 crore. The company has a return on equity of 10.9%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 29,460 crore. The stock trades at a P/E of 21.3, below the industry P/E of 23.4. Looking ahead, the company is expanding its tractor range and export reach and growing its construction equipment and railway segments. Farm mechanisation and infrastructure spending support demand.
How has Mahindra and Mahindra performed financially?
Ans. Revenue rose from Rs 91,105 crore in FY22 to Rs 202,084 crore in FY26, a compound annual growth rate of 22.0%. Net profit grew from Rs 7,253 crore in FY22 to Rs 18,622 crore in FY26, which works out to a compound annual growth rate of 26.6%. In the June 2026 quarter, revenue grew 27.5% year on year to Rs 59,204 crore, while net profit rose 37.0% to Rs 5,998 crore. The company has a return on equity of 18.4%, a debt to equity ratio of 1.44 and a market capitalisation of Rs 354,157 crore. The stock trades at a P/E of 17.5, below the industry P/E of 23.4. Looking ahead, the company is launching new utility and electric vehicle platforms while its tractor business benefits from farm mechanisation. A strong brand in rural and semi-urban India supports volumes.
What risks should investors check before buying tractor, scooter and utility vehicle stocks?
Ans. Investors should check a few risks before buying tractor, scooter and utility vehicle stocks. Farm cycles. Tractor and crop input demand follows the monsoon and farm incomes. Production cycles. Vehicle output can vary with demand. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of tractor, scooter and utility vehicle stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 28 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
