VST Tillers Tractors Ltd
VST Tillers Tractors Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹314Cr
- +43.4% YoY
- Net profit
- ₹31Cr
- +1450% YoY
- Margin
- 13%
- +4 pp YoY
Guidance rank: #7 of 10 in Agricultural, Commercial & Construction Vehicles
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The short version
Growth expected to continue in Q4 and beyond, targeting overall growth of 25-30% for the year. The company expects continued growth, with overall revenue growth around 25% to 30% by year-end (FY '26).
From VST Tillers Tractors Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Growth expected to continue in Q4 and beyond, targeting overall growth of 25-30% for the year.
- Tractor sales (domestic + export) guided between 6,000 to 6,500 units for FY26, expected to be exceeded.
- Power weeder business is scaling up, aiming to nearly double business compared to last year.
- Power tiller and power weeder segments expected to grow steadily, driven by affordability and large farmer base (~80%).
- Europe market anticipated to grow post-establishment of operations in the Netherlands in Q1 FY27, easing distributor cash flow issues.
- Exports expected stable with Europe constituting 90%, Africa 5%, Rest of world 5%; U.S. market entry planned for 2027.
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Profitability & Margins
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Capital Expenditure Plans
- Planned capex for FY 2027 is around INR 60 crores in cash outflow.
- Larger commitments expected due to long-term projects and technology initiatives.
- Continued investment in product development, including new products like electric weeders and electric tillers.
- Building a global tech center to enhance R&D capabilities.
- Evaluating expansion of manufacturing capacity beyond Malur to North and West India to meet increasing demand, as current factory is nearly full.
- No separate capex needed for marine engine entry, as it leverages existing compact engine capabilities.
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Top-ranked in Agricultural, Commercial & Construction Vehicles
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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VST Tillers Tractors Ltd — Quarterly revenue & net profit
VST Tillers Tractors Ltd Q3 FY26 results — key figures
| ₹ Cr | Q3 FY26 | Q3 FY25 | YoY | Q2 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 314 | 219 | +43.4% | 315 | -0.3% |
| Operating profit (EBITDA) | 41 | 20 | +105% | 41 | 0% |
| Operating margin | 13% | 9% | +4 pp | 13% | 0 pp |
| Profit before tax | 41 | 4 | +925% | 37 | +10.8% |
| Net profit (PAT) | 31 | 2 | +1450% | 25 | +24% |
| EPS (₹) | 35.54 | 1.97 | +1704.1% | 29.42 | +20.8% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹322 Cr, net profit ₹23 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What VST Tillers Tractors's management said in earlier quarters
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were VST Tillers Tractors Ltd Q3 FY26 results?
Growth expected to continue in Q4 and beyond, targeting overall growth of 25-30% for the year. The company expects continued growth, with overall revenue growth around 25% to 30% by year-end (FY '26).
What is VST Tillers Tractors Ltd share price analysis?
VST Tillers Tractors Ltd currently shows a neutral. The stock trades at a P/E of 35.4 with a market cap of ₹3,904 Cr. Investors should review the full earnings analysis for detailed insights.
Is VST Tillers Tractors Ltd planning capital expenditure?
Planned capex for FY 2027 is around INR 60 crores in cash outflow.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.