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VST Tillers Tractors

VSTTILLERS NSE
₹4,068.80 +183.90 (+4.73%)
P/E
31.94
View as Markdown
MCP
Close 4 Nov 2026 ₹4,068.80 −1,804.70 −30.7% 1Y
Start ₹5,873.50

Key Fundamentals

MicrocapAgricultural Commercial & Construction VehiclesCapital Goods

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
13.80%
Debt to Equity
0.00
EPS (TTM)
₹127.39
Book Value
₹1,264.48
Market Cap
—
P/E (TTM)
31.94
P/B
3.22
ROE
10.10%
Dividend Yield
0.64%
EBITDA
₹170 Cr
52W High
₹6,374.00
52W Low
₹3,808.80
Day Range
₹3,876.10 – ₹4,169.20
Volume
7,437

Peer Comparison

Industrials › Automobiles › Tractors

VST Tillers Tractors peer comparison
Escorts Kubota
₹2,468.5019.97₹27,385 Cr2.232.09%18.70%13.90%₹12,248 Cr₹1,383 Cr
VST Tillers Tractors (this company)
₹4,068.8031.94₹3,409 Cr3.220.64%10.10%13.80%₹1,271 Cr₹110 Cr
Gurunanak Agriculture
₹36.80—₹44 Cr0.940.00%20.50%27.30%——
Median 3 companies₹2,468.5025.96₹3,409 Cr2.230.64%18.70%13.90%₹6,760 Cr₹747 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

53 Average

Data confidence 100/100

Category scores

Quality
66
Strong
Returns, margins, earnings quality 22% weight
Valuation
51
Average
Cheap vs sector & own history 24% weight
Growth
50
Average
Sales & profit trajectory 9% weight
Financial Health
88
Strong
Solvency, leverage, coverage 9% weight
Momentum
20
Poor
Trend strength, vol-adjusted 12% weight
Ownership
54
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 17.6%

Weaknesses

3
  • Stock is trading at 3.30 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 10.9% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1063
OscillatorsBearish360
Moving AveragesStrong Bearish703

Key readings

RSI (14)
49.05
Neutral
MACD (12,26,9)
−98.85
Bearish
SMA (50)
4,192.80
Bearish
SMA (200)
4,801.95
Bearish

As of

Analyst Rating

Based on 3 analysts
BUY67%

2 of 3 analysts rate Buy, 0 Hold, 1 Sell.

As of

BUY
2
67%
HOLD
0
0%
SELL
1
33%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+6.72%
5Y+10.17%
3Y+7.22%
1Y+24.62%
TTM+17.05%

Net profit

Net profit growth by window
10Y+3.66%
5Y+3.10%
3Y+4.83%
1Y+12.77%
TTM−5.98%

Operating cash flow

Operating cash flow growth by window
10Y+4.50%
5Y−3.16%
3Y+54.20%
1Y+71.43%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−4.00 pp
5Y+1.04 pp
3Y+0.75 pp
1Y+2.31 pp
TTM+0.78 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹675 Cr
Mar 2018₹763 Cr
Mar 2019₹615 Cr
Mar 2020₹544 Cr
Mar 2021₹764 Cr
Mar 2022₹854 Cr
Mar 2023₹1,006 Cr
Mar 2024₹968 Cr
Mar 2025₹995 Cr
Mar 2026₹1,240 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹83.00 Cr
Mar 2018₹112 Cr
Mar 2019₹46.00 Cr
Mar 2020₹18.00 Cr
Mar 2021₹91.00 Cr
Mar 2022₹99.00 Cr
Mar 2023₹92.00 Cr
Mar 2024₹122 Cr
Mar 2025₹94.00 Cr
Mar 2026₹106 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹179 Cr +5.1% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk medium

VST Tillers Tractors Ltd is a nearly debt-free industrials company with a market cap of ₹3,917 Cr trading at a PE of 37.6x and PB of 3.6x. TTM sales growth has accelerated to 25% but longer-term profit compounding remains modest at 3-5% over 5 years, while working capital days have nearly doubled from 131 to 245 days.

Bull Case 7
  • Company is almost debt free, providing significant financial flexibility and low interest burden
  • TTM sales growth has accelerated sharply to 25%, well above the 5-year CAGR of 10%
  • TTM profit growth of 15% shows meaningful earnings recovery versus the 5-year profit CAGR of just 3%
  • Stock has delivered 18% CAGR over 5 years, outperforming broader market indices
  • Consistent dividend payout of 17.6% with a current yield of 0.44%, reflecting shareholder-friendly capital allocation
  • 10-year compounded sales growth of 7% demonstrates long-term business continuity in a cyclical sector
  • ROE has remained stable in the 11-12% range over 3, 5, and 10-year periods, indicating predictable return generation
Bear Case 7
  • Working capital days have nearly doubled from 131 to 245 days, signalling deteriorating cash conversion and potential inventory or receivable issues
  • 5-year compounded profit growth of only 3% is significantly below sales growth of 10%, indicating margin compression
  • Stock trades at 3.58x book value despite low ROE of 11% over 3 years, a premium valuation relative to returns generated
  • 5-year sales CAGR of only 10.2% reflects poor topline momentum in a sector with structural tailwinds
  • Last year ROE dropped to 10% from the 3-year average of 11% and 5-year average of 12%, showing a declining trend
  • 10-year profit CAGR of just 4% implies the business has struggled to scale earnings meaningfully over a full cycle
  • Dividend yield of 0.44% offers negligible income support at current valuations

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: VST Tillers is showing steady volume growth with a 3% YoY rise in June sales and strong corporate governance signals. No material headwinds are visible in recent news flow. The trend is stable with modest positive momentum, though investors should watch for broader rural demand and monsoon progression to sustain tractor/tiller volumes in coming quarters.

Positives 2
  • June sales up 3% YoY Jul 2

    Total sales reached 8,107 units in June 2026 vs 7,869 units in June 2025. YTD sales stood at 18,741 units.

  • Independent director reappointed Jun 18

    Dr. Nandakumar Jairam reappointed for five years with 99.94% shareholder votes in favour.

Neutral 2
  • Shareholding update after demise Jun 29

    Disclosed shareholding change following demise of joint holder V K Surendra. Total holding unchanged at 2,24,146 shares.

  • Special window for share transfer Jun 9

    Launched special window for transfer and demat of physical shares bought before April 1, 2019. Deadline is February 4, 2027.

Quarterly Results

₹ Cr
VSTTILLERS quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
246
279
170
273
191
283
219
301
282
315
314
328
313
Expenses
214
235
160
234
177
246
200
261
245
274
274
282
273
Operating Profit
32
43
10
40
13
38
20
40
38
41
41
47
40
OPM %
13%
15%
6%
15%
7%
13%
9%
13%
13%
13%
13%
14%
13%
Other Income
18
14
18
10
21
27
−9
−1
26
3
7
−31
28
Interest
1
0
1
1
1
1
0
0
0
1
1
0
0
Depreciation
7
7
7
7
6
6
6
6
6
6
6
6
5
PBT
43
50
20
43
28
58
4
33
57
37
41
9
62
Tax %
23%
27%
17%
18%
18%
22%
56%
23%
21%
30%
25%
41%
22%
Net Profit
33
36
17
35
23
45
2
25
45
25
31
5
49
EPS (₹)
38.19
42.19
19.62
40.65
26.45
52.01
1.97
28.9
51.55
29.42
35.54
6.11
56.32

Profit & Loss

₹ Cr
VSTTILLERS profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
552
647
675
763
615
544
764
854
1,006
968
995
1,240
1,271
Expenses
451
534
574
644
560
514
670
729
878
843
883
1,074
1,103
Operating Profit
100
113
101
120
55
30
95
125
128
125
111
167
169
OPM %
18%
17%
15%
16%
9%
6%
12%
15%
13%
13%
11%
13%
13%
Other Income
12
12
29
45
35
11
46
34
25
60
38
4
7
Interest
2
3
3
2
2
2
4
2
2
3
2
2
2
Depreciation
9
13
12
11
16
16
17
25
27
27
25
26
25
PBT
101
110
116
152
72
23
119
132
124
156
122
143
149
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
110
EPS (₹)
80.47
85.8
95.73
130
53.31
20.85
105
115
107
141
109
123
127
Div. Payout %
19%
17%
16%
39%
28%
72%
19%
17%
23%
14%
18%
20%
—

Balance Sheet

₹ Cr
VSTTILLERS balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Cash Flow

₹ Cr
VSTTILLERS cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
26
85
86
33
43
72
155
125
36
49
77
132
Investing
−13
−43
−75
−36
11
−33
−148
−110
−32
9
−29
−136
Financing
−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
99

Ratios

VSTTILLERS financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
64
ROCE %
30%
29%
24%
26%
14%
6%
20%
19%
16%
18%
12%
14%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view VST Tillers Tractors insights

61 extracted metrics across FY08–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 55.55%
  • DIIs 20.13%
  • Public 19.07%
  • Others 4.15%
  • FIIs 1.10%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about VST Tillers Tractors

What does VST Tillers Tractors Ltd do?
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.
Where is VST Tillers Tractors Ltd (VSTTILLERS) listed?
VST Tillers Tractors Ltd trades as VSTTILLERS on the NSE and under code 531266 on the BSE.
Which sector does VST Tillers Tractors Ltd belong to?
VST Tillers Tractors Ltd is classified under the Automobiles sector, in the Tractors industry.
What is the PE ratio of VST Tillers Tractors Ltd?
VST Tillers Tractors Ltd trades at a PE ratio of 31.94 as of 4 Nov 2026, on earnings per share of ₹127.39, against a book value of ₹1,264.48 per share.
What is the 52-week high and low of VST Tillers Tractors Ltd?
Over the last 52 weeks VST Tillers Tractors Ltd has traded between ₹3,808.8 and ₹6,374 as of 4 Nov 2026.
Does VST Tillers Tractors Ltd pay dividends?
VST Tillers Tractors Ltd has a dividend yield of 0.64%.
What is the Return on Equity (ROE) of VST Tillers Tractors Ltd?
VST Tillers Tractors Ltd reported a return on equity of 10.10%. Its debt-to-equity ratio is 0.00.

Company Information

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.

Website vsttractors.com
Listed 20 Jun 2011
Face Value ₹10

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