VST Tillers Tractors Ltd

VST Till. Tract. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

VST Tillers Tractors Ltd

₹ 3,736 0.33%
21 May 9:42 a.m.
vsttillers.com BSE: 531266 NSE: VSTTILLERS
About

VST Tillers Tractors Ltd. was established in the year 1967 by the VST Group of companies, a well-known century-old business house in South India. The founder of the group was Sri V.S. Thiruvengadaswamy Mudaliar.
VST Tillers Tractors Ltd. was promoted by VST Motors as a joint venture since 1966 with Mitsubishi Heavy Industries Ltd, Japan. The company is now the largest manufacturer of Power Tillers in India.

All of the collaborations have expired [1] and today VST family holds 51% of the equity in the listed company that has recorded consistent growth. [2]

Key Points

Brands
VST SHAKTI is India's No 1 brand in Power Tiller (walking Tractor) in India introduced over five decades ago. Tractors are also being marketed under the "FIELDTRAC" brand in various markets of the European Union meeting the latest EU standards. The Co. initially introduced as "VST Mitsubishi", has now expanded its presence under the brand "VST SHAKTI" with a range of compact and agricultural Tractors. [1]

Website BSE NSE
  • Market Cap ₹ 3,229 Cr.
  • Current Price ₹ 3,736
  • High / Low ₹ 5,430 / 2,875
  • Stock P/E 34.2
  • Book Value ₹ 1,161
  • Dividend Yield 0.53 %
  • ROCE 12.8 %
  • ROE 9.80 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 18.6%

Cons

  • Company has a low return on equity of 11.6% over last 3 years.
  • Earnings include an other income of Rs.38.3 Cr.
  • Debtor days have increased from 62.7 to 75.5 days.
  • Working capital days have increased from 125 days to 254 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Automobile Industry: Automobiles - Tractors

Part of BSE SmallCap BSE Allcap BSE Industrials

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
218 236 234 214 323 246 279 170 273 191 283 219 301
188 219 202 190 268 214 235 160 234 177 246 200 261
Operating Profit 30 17 32 23 55 32 43 10 40 13 38 20 40
OPM % 14% 7% 14% 11% 17% 13% 15% 6% 15% 7% 13% 9% 13%
6 2 8 9 5 18 14 18 10 21 27 -9 -1
Interest 0 0 0 0 0 1 0 1 1 1 1 0 0
Depreciation 7 6 7 7 7 7 7 7 7 6 6 6 6
Profit before tax 29 13 34 25 53 43 50 20 43 28 58 4 33
Tax % 24% 21% 33% 22% 24% 23% 27% 17% 18% 18% 22% 56% 23%
22 10 23 19 40 33 36 17 35 23 45 2 25
EPS in Rs 25.58 11.63 26.32 22.49 46.47 38.19 42.19 19.62 40.65 26.45 52.01 1.97 28.90
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
624 552 647 675 763 615 544 764 854 1,006 968 995
505 451 534 574 644 560 514 670 729 878 843 883
Operating Profit 119 100 113 101 120 55 30 95 125 128 125 111
OPM % 19% 18% 17% 15% 16% 9% 6% 12% 15% 13% 13% 11%
9 12 12 29 45 35 11 46 34 25 60 38
Interest 2 2 3 3 2 2 2 4 2 2 3 2
Depreciation 4 9 13 12 11 16 16 17 25 27 27 25
Profit before tax 122 101 110 116 152 72 23 119 132 124 156 122
Tax % 32% 31% 33% 29% 26% 36% 22% 24% 25% 25% 22% 23%
83 70 74 83 112 46 18 91 99 92 122 94
EPS in Rs 96.00 80.47 85.80 95.73 129.61 53.31 20.85 105.08 114.95 106.90 140.64 109.29
Dividend Payout % 16% 19% 17% 16% 39% 28% 72% 19% 17% 23% 14% 18%
Compounded Sales Growth
10 Years: 6%
5 Years: 13%
3 Years: 5%
TTM: 3%
Compounded Profit Growth
10 Years: 3%
5 Years: 31%
3 Years: -1%
TTM: -20%
Stock Price CAGR
10 Years: 10%
5 Years: 33%
3 Years: 14%
1 Year: 11%
Return on Equity
10 Years: 13%
5 Years: 12%
3 Years: 12%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 9 9 9 9 9 9 9 9 9 9 9 9
Reserves 304 355 411 491 588 581 568 659 741 816 915 995
0 0 0 0 0 0 0 0 0 2 1 2
158 109 113 131 189 158 152 218 217 264 242 261
Total Liabilities 470 472 533 631 786 748 729 885 966 1,091 1,167 1,267
124 135 127 147 158 206 206 248 266 261 250 240
CWIP 0 2 3 10 57 35 48 25 12 14 5 10
Investments 106 95 136 188 204 165 156 312 414 430 484 525
239 240 267 286 367 343 318 300 275 385 428 492
Total Assets 470 472 533 631 786 748 729 885 966 1,091 1,167 1,267

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
131 26 85 86 33 43 72 155 125 36 49 77
-131 -13 -43 -75 -36 11 -33 -148 -110 -32 9 -29
-11 -17 -34 -3 -17 -54 -33 -2 -19 -19 -24 -20
Net Cash Flow -10 -4 9 9 -19 0 7 6 -4 -14 33 28

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 60 62 70 71 89 57 65 39 29 54 58 75
Inventory Days 77 102 70 58 58 111 100 77 64 56 65 54
Days Payable 60 17 28 30 46 31 57 60 52 68 55 53
Cash Conversion Cycle 77 148 112 100 101 137 108 56 41 42 69 76
Working Capital Days 52 95 89 86 94 124 113 41 27 50 72 254
ROCE % 45% 30% 29% 24% 26% 14% 6% 20% 19% 16% 18% 13%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
54.82% 55.58% 55.58% 55.58% 55.58% 55.58% 55.58% 55.64% 55.64% 55.64% 55.64% 55.64%
5.43% 3.98% 1.26% 1.26% 1.76% 2.07% 2.02% 1.88% 2.79% 2.90% 2.67% 2.47%
16.40% 16.39% 19.73% 19.79% 18.97% 17.24% 16.61% 16.87% 17.97% 19.10% 20.47% 20.72%
23.35% 24.03% 23.42% 23.37% 23.69% 25.12% 25.79% 25.62% 23.60% 22.37% 21.22% 21.18%
0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
No. of Shareholders 20,87721,70721,60423,73023,92325,45626,12126,85525,19024,06623,32124,104

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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