VST Tillers Tractors Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹3,330 Cr
- P/E
- 30.22
- ROE
- 10.11%
- PEG
- 5.86
- Price to sales
- 2.61
- Debt to equity
- 0.00
- 52W high / low
- ₹6,262 / ₹3,849
- Sales growth (5Y)
- 10.17%
- EBITDA margin
- 13.27%
- Net profit margin
- 8.56%
- Promoter holding
- 55.55%
- Sales (last year)
- ₹1,271 Cr
V.S.T. Tillers Tractors Ltd manufactures and trades agricultural machinery, including power tillers, compact and higher-HP tractors, power weeders, reapers, brush cutters and diesel engines. It also distributes spares, lubricants and electric pumps and manufactures precision components for agriculture, automotive, locomotive and other industrial applications. The company has over 70% domestic power -tiller market share. [1] [2]
Guidance scorecard · Q1 FY27 call
What VST Tillers Tractors Ltd's management guided
and where it ranks in Agricultural, Commercial & Construction Vehicles
Agricultural, Commercial & Construction Vehicles
RevenueQ1 FY27 call
10–20%- The company aims to achieve INR 3,000 crores in revenue by 2030 through five business verticals with growth strategies and capacity expansion, including new production facilities within 2 years.
- Tractor volumes are expected to grow gradually quarter-on-quarter with more than 30 new tractor variants to be launched in the next 12-18 months.
- Domestic tractor sales are targeted to reach close to 20,000 units by FY 2030 with continuous dealership expansion, especially in North India.
- Small farm mechanization (SFM) business (power tillers and weeders) is growing strongly, with power weeders growing at 50-60% and power tillers at 15-20% rates.
- Export growth focuses on Europe and Africa, with plans for increased penetration and new product introductions including hydrostatic transmission tractors and geared tillers.
2 more points from VST Tillers Tractors Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what VST Tillers Tractors Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- The company is working towards scaling up execution, R&D capabilities, capacity, and workforce to achieve its INR3,000 crores revenue vision by 2030.
- Plans include investing in a new production facility within the next 2 years to support growth.
- Capital allocation policy emphasizes deploying capital strategically to maximize shareholder value; several opportunities for capital deployment are being explored.
- Expected deployment of capital in the next 18 to 24 months, with details to be updated as progress occurs.
2 more points from VST Tillers Tractors Ltd's call on capex
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FundraisingQ1 FY27 call
See what VST Tillers Tractors Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what VST Tillers Tractors Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Agricultural, Commercial & Construction Vehicles
on management's own guidance
- BEML LtdGood growth2
- TILGood growth1
- Indo Farm Equip.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Agricultural, Commercial & Construction Vehicles companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | TIL | 20–40% | Up 2%+ | ₹1,894 Cr | — |
| 2 | BEML Ltd | 20–40% | Flat | ₹16,396 Cr | 91.9 |
| 3 | Indo Farm Equip. | 20–40% | Flat | ₹630 Cr | 25.3 |
| 4 | 20–40% | Flat | ₹38 Cr | 6.2 | |
| 5 | 10–20% | Flat | ₹1.55L Cr | 20.9 | |
| 6 | 10–20% | Flat | ₹87,468 Cr | 23.5 |
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Pro shows every company guiding 40%+ revenue growth →Full Agricultural, Commercial & Construction Vehicles rankingFinancials of VST Tillers Tractors Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of VST Tillers Tractors Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 322.61 | 246.14 | 278.51 | 169.96 | 273.44 | 190.59 | 283.43 | 219.10 | 301.43 | 282.45 | 315.15 | 314.30 | 328.46 |
| Expenses + | 268.06 | 214.43 | 235.40 | 160.42 | 233.61 | 177.21 | 245.64 | 199.55 | 261.06 | 244.95 | 274.25 | 273.60 | 281.64 |
| Operating Profit | 54.55 | 31.71 | 43.11 | 9.54 | 39.83 | 13.38 | 37.79 | 19.55 | 40.37 | 37.50 | 40.90 | 40.70 | 46.82 |
| OPM % | 16.91% | 12.88% | 15.48% | 5.61% | 14.57% | 7.02% | 13.33% | 8.92% | 13.39% | 13.28% | 12.98% | 12.95% | 14.25% |
| Other Income + | 5.23 | 18.12 | 13.91 | 18.16 | 10.39 | 21.32 | 26.76 | -8.85 | -0.92 | 25.89 | 2.64 | 7.02 | -31.20 |
| Interest | 0.30 | 0.56 | 0.48 | 0.59 | 0.52 | 0.51 | 0.56 | 0.48 | 0.41 | 0.38 | 0.57 | 0.51 | 0.45 |
| Depreciation | 6.90 | 6.68 | 6.88 | 6.78 | 6.67 | 6.25 | 6.46 | 6.38 | 6.39 | 6.41 | 6.46 | 6.38 | 6.26 |
| Profit before tax | 52.58 | 42.59 | 49.66 | 20.33 | 43.03 | 27.94 | 57.53 | 3.84 | 32.65 | 56.60 | 36.51 | 40.83 | 8.91 |
| Tax % | 23.64% | 22.54% | 26.60% | 16.63% | 18.38% | 18.22% | 21.90% | 55.73% | 23.49% | 21.27% | 30.35% | 24.76% | 40.63% |
| Net Profit + | 40.15 | 32.99 | 36.45 | 16.95 | 35.12 | 22.85 | 44.93 | 1.70 | 24.98 | 44.56 | 25.43 | 30.72 | 5.29 |
| EPS in Rs | 46.47 | 38.19 | 42.19 | 19.62 | 40.65 | 26.45 | 52.01 | 1.97 | 28.90 | 51.55 | 29.42 | 35.54 | 6.11 |
Financials of VST Tillers Tractors Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 552 | 647 | 675 | 763 | 615 | 544 | 764 | 854 | 1,006 | 968 | 995 | 1,240 |
| Expenses + | 451 | 534 | 574 | 644 | 560 | 514 | 670 | 729 | 878 | 843 | 883 | 1,074 |
| Operating Profit | 100 | 113 | 101 | 120 | 55 | 30 | 95 | 125 | 128 | 125 | 111 | 166 |
| OPM % | 18% | 17% | 15% | 16% | 9% | 6% | 12% | 15% | 13% | 13% | 11% | 13% |
| Other Income + | 12 | 12 | 29 | 45 | 35 | 11 | 46 | 34 | 25 | 60 | 38 | 4 |
| Interest | 2 | 3 | 3 | 2 | 2 | 2 | 4 | 2 | 2 | 3 | 2 | 2 |
| Depreciation | 9 | 13 | 12 | 11 | 16 | 16 | 17 | 25 | 27 | 27 | 25 | 26 |
| Profit before tax | 101 | 110 | 116 | 152 | 72 | 23 | 119 | 132 | 124 | 156 | 122 | 143 |
| Tax % | 31% | 33% | 29% | 26% | 36% | 22% | 24% | 25% | 25% | 22% | 23% | 26% |
| Net Profit + | 70 | 74 | 83 | 112 | 46 | 18 | 91 | 99 | 92 | 122 | 94 | 106 |
| EPS in Rs | 80.47 | 85.80 | 95.73 | 129.61 | 53.31 | 20.85 | 105.08 | 114.95 | 106.90 | 140.64 | 109.29 | 122.50 |
| Dividend Payout % | 19% | 17% | 16% | 39% | 28% | 72% | 19% | 17% | 23% | 14% | 18% | 20% |
Financials of VST Tillers Tractors Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 355 | 411 | 491 | 588 | 581 | 568 | 659 | 741 | 816 | 915 | 995 | 1,089 |
| Borrowings + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 2 | 2 |
| Other Liabilities + | 109 | 113 | 131 | 189 | 158 | 152 | 218 | 217 | 264 | 242 | 261 | 248 |
| Total Liabilities | 472 | 533 | 631 | 786 | 748 | 729 | 885 | 966 | 1,091 | 1,167 | 1,267 | 1,347 |
| Fixed Assets + | 135 | 127 | 147 | 158 | 206 | 206 | 248 | 266 | 261 | 250 | 240 | 232 |
| CWIP | 2 | 3 | 10 | 57 | 35 | 48 | 25 | 12 | 14 | 5 | 10 | 18 |
| Investments | 95 | 136 | 188 | 204 | 165 | 156 | 312 | 414 | 430 | 484 | 525 | 634 |
| Other Assets + | 240 | 267 | 286 | 367 | 343 | 318 | 300 | 275 | 385 | 428 | 492 | 464 |
| Total Assets | 472 | 533 | 631 | 786 | 748 | 729 | 885 | 966 | 1,091 | 1,167 | 1,267 | 1,347 |
Financials of VST Tillers Tractors Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 26 | 85 | 86 | 33 | 43 | 72 | 155 | 125 | 36 | 49 | 77 | 132 |
| Cash from Investing Activity + | -13 | -43 | -75 | -36 | 11 | -33 | -148 | -110 | -32 | 9 | -29 | -136 |
| Cash from Financing Activity + | -17 | -34 | -3 | -17 | -54 | -33 | -2 | -19 | -19 | -24 | -20 | -20 |
| Net Cash Flow | -4 | 9 | 9 | -19 | 0 | 7 | 6 | -4 | -14 | 33 | 28 | -24 |
| Free Cash Flow | -4 | 77 | 54 | -34 | -2 | 38 | 127 | 96 | 12 | 41 | 56 | 105 |
| CFO/OP | 57% | 110% | 122% | 57% | 141% | 274% | 191% | 128% | 52% | 63% | 88% | 100% |
Financials of VST Tillers Tractors Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 62 | 70 | 71 | 89 | 57 | 65 | 39 | 29 | 54 | 58 | 75 | 51 |
| Inventory Days | 102 | 70 | 58 | 58 | 111 | 100 | 77 | 64 | 56 | 65 | 54 | 53 |
| Days Payable | 17 | 28 | 30 | 46 | 31 | 57 | 60 | 52 | 68 | 55 | 53 | 43 |
| Cash Conversion Cycle | 148 | 112 | 100 | 101 | 137 | 108 | 56 | 41 | 42 | 69 | 76 | 60 |
| Working Capital Days | 95 | 89 | 86 | 94 | 124 | 113 | 41 | 27 | 50 | 72 | 76 | 245 |
| ROCE % | 30% | 29% | 24% | 26% | 14% | 6% | 20% | 19% | 16% | 18% | 13% | 14% |
Guidance history
How VST Tillers Tractors Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY26 call → | 20–40% | Up 0–2% | Planned | — | — |
| Q3 FY26 call → | 20–40% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
9 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −35.6% | 17% |
| Last 6 months | −26.2% | 12% |
| Last 3 months | −13.6% | 36% |
The price is 38.5% below its all-time high of ₹6,262.5 (31 Dec 2025). Stocks more than 20% below their peak have their score halved, so 19 became 9.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For VST Tillers Tractors Ltd: 0.4 × 17 + 0.4 × 12 + 0.2 × 36 = 19, halved to 9 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What VST Tillers Tractors Ltd's management said in earlier quarters
- Q3 FY25 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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