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

₹ 4,597 -1.43%
04 Jun - close price
vsttractors.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 ₹ 3,968 Cr.
  • Current Price ₹ 4,597
  • High / Low ₹ 6,374 / 3,501
  • Stock P/E 37.4
  • Book Value ₹ 1,268
  • Dividend Yield 0.44 %
  • ROCE 13.8 %
  • ROE 10.1 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 17.6%

Cons

  • Stock is trading at 3.62 times its book value
  • The company has delivered a poor sales growth of 10.2% over past five years.
  • Company has a low return on equity of 11.0% over last 3 years.
  • Working capital days have increased from 131 days to 245 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

Industrials Capital Goods Agricultural, Commercial & Construction Vehicles Tractors

Part of BSE Industrials BSE 1000

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
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
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%
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%
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
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
552 647 675 763 615 544 764 854 1,006 968 995 1,240
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%
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%
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%
Compounded Sales Growth
10 Years: 7%
5 Years: 10%
3 Years: 7%
TTM: 25%
Compounded Profit Growth
10 Years: 4%
5 Years: 3%
3 Years: 5%
TTM: 15%
Stock Price CAGR
10 Years: 10%
5 Years: 17%
3 Years: 19%
1 Year: 20%
Return on Equity
10 Years: 12%
5 Years: 12%
3 Years: 11%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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
0 0 0 0 0 0 0 0 2 1 2 2
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
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
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

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
26 85 86 33 43 72 155 125 36 49 77 132
-13 -43 -75 -36 11 -33 -148 -110 -32 9 -29 -136
-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%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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%

Insights

In beta
Mar 2014 Mar 2015 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Power Tiller Sales Volume
Units

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Tractor Sales Volume (Total)
Units
Power Reaper Sales Volume
Units
Power Weeder Sales Volume
Units
Market Share - Power Tillers
%
Total Dealer Network
Count
Retail Finance Penetration (Focus States)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
55.58% 55.58% 55.58% 55.64% 55.64% 55.64% 55.64% 55.64% 55.61% 55.61% 55.61% 55.61%
1.76% 2.07% 2.02% 1.88% 2.79% 2.90% 2.67% 2.47% 1.40% 1.76% 1.61% 1.84%
18.97% 17.24% 16.61% 16.87% 17.97% 19.10% 20.47% 20.72% 21.72% 21.41% 20.59% 19.61%
23.69% 25.12% 25.79% 25.62% 23.60% 22.37% 21.22% 21.18% 21.26% 21.23% 22.19% 22.95%
0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
No. of Shareholders 23,92325,45626,12126,85525,19024,06623,32124,10420,24321,23722,69424,076

* 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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