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    Agricultural - Machinery
V.S.T. Tillers Tractors Limited

V.S.T. Tillers Tractors Limited

VSTTILLERS.NS
V.S.T. Tillers Tractors LimitedIN flagNational Stock Exchange of India
4,670.10
INR
+102.90
- -
40.41BMarket Cap
V.S.T. Tillers Tractors Limited
VSTTILLERS.NS
(National Stock Exchange of India)

Recent

price

4,670.10

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
-0.8
614.2
557.51
722.51
638.46
748.5
780.05
881.75
708.5
627.69
880.84
983.49
1,159.87
1,114.72
1,151.05
1,435.08
1,435.13
Revenue per Share
53.46
57.79
56.22
96
80.46
85.81
95.73
129.61
53.32
20.84
105.07
114.94
106.9
140.12
107.6
121.16
121.16
Basic EPS, GAAP
52.78
-23.67
20.93
109.06
3.77
89.21
58.93
-40.01
-3.94
42.5
146.9
111.11
14.1
47.7
64.97
121.74
- -
Free Cash Flow per Basic Share
7.45
8.96
8.95
9
15
30
- -
15
49.78
30.06
0.01
20
20
25
20
20
- -
Dividend per Share
10
10
70.71
68.14
69.79
157.54
232.95
360
395.26
355.92
424.8
519.75
606.64
721.77
809.34
10.01
10.01
Book Value per Share
189.86
237.18
282.86
361.31
420.78
487.52
578.76
690.28
670.07
653.9
760.15
856.96
947.47
1,066.37
1,156.74
1,264.03
1,264.08
Tangible Book Value per Share
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
Basic Weighted Avg Shares
-7
5,306
4,817
6,242
5,516
6,467
6,739
7,618
6,121
5,423
7,610
8,497
10,021
9,631
9,946
12,404
12,404
Sales/Revenue/Turnover
7,600.12
13.28
14.43
18.68
17.39
16.25
13.78
14.64
9.98
5.2
11.56
12.6
10.31
10.32
8.61
11.32
11.32
Operating Margin (%)
23
33
34
39
94
125
118
109
158
163
171
250
269
270
255
255
255
Depreciation Expense
462
499
486
829
695
741
827
1,120
461
180
908
993
924
1,211
930
1,047
1,047
Net Income, GAAP
34.98
31.94
30.23
31.99
30.87
32.62
28.63
26.44
35.61
22.06
23.86
24.87
25.48
21.97
22.83
26.03
26.03
Effective Tax Rate (%)
-6,667.59
9.41
10.08
13.29
12.6
11.46
12.27
14.7
7.53
3.32
11.93
11.69
9.22
12.57
9.35
8.44
8.44
Profit Margin (%)
837
1,527
1,676
2,143
2,471
3,069
3,413
3,559
3,493
3,154
3,761
4,245
5,545
6,743
7,658
8,807
8,807
Working Capital
3
14
- -
- -
- -
- -
- -
- -
- -
- -
3
7
11
5
11
9
9
LT Debt
1,640
2,049
2,444
3,122
3,635
4,212
5,000
5,964
5,899
5,769
6,676
7,495
8,245
9,236
10,019
10,941
10,941
Total Equity
-22.67
24.81
20.78
28.5
19.63
18.05
14.43
15.06
6.66
3.8
11.01
11.69
10.09
9.17
7.09
10.05
10.05
Return on Invested Capital (%)
328.9
289.11
111.53
140.27
119.13
77.25
50.31
44.2
14.56
5.9
27.8
24.49
19.12
21.33
14.25
29.82
29.82
Return on Capital (%)
534.63
577.89
139.32
138.28
116.68
75.49
49.03
43.72
14.12
5.55
26.92
24.34
18.98
21.1
14.06
29.58
29.58
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
9
- -
10
LT Borrowings
- -
- -
- -
LT Finance Leases
10
- -
9
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
9
- -
9
Market Capitalization
43,649
54,120
41,520

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
10,479
- -
10,711
Cash, Cash Equivalents & STI
6,164
- -
6,651
Accounts Receivable, Net
1,978
- -
1,717
Inventories
1,359
- -
1,233
Total Current Liabilities
2,225
- -
1,904
Payables & Accruals
- -
- -
- -
ST Debt
9
- -
10
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.24%
10.4%
9.21%
Free Cash Flow
-97.42%
50.04%
87.43%
Net Income, GAAP
35.42%
4.58%
12.64%
Sales/Revenue/Turnover
8.02%
10.73%
24.72%
Total Cash Common Dividend
- -
- -
0.04%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,461
2,785
1,700
2,685
9,631
2025
1,906
2,834
2,191
3,014
9,946
2026
2,824
3,152
3,143
3,285
12,404

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
38.19
42.19
19.53
- -
140.12
2025
26
51.85
1.48
28.27
107.6
2026
51.16
28.9
35.21
5.89
121.16

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
25
2025
- -
- -
- -
- -
20
2026
- -
- -
- -
- -
20
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V.S.T. Tillers Tractors Limited (VSTTILLERS.BO)
Business
VST Tillers Tractors Limited operates as a prominent manufacturer and trader of diverse agricultural machinery, primarily serving the Indian market while also maintaining a significant global footprint. The company specializes in a comprehensive range of farm equipment, including power tillers, where it holds a dominant market share in India, alongside compact tractors, higher horsepower tractors (through its VST Zetor joint venture), rice transplanters, power reapers, and various power weeders. Additionally, its portfolio extends to essential attachments, engines, and precision components, as well as spare parts and lubricants. Founded in 1967 in Bengaluru, India, VST Tillers Tractors has been a pioneer in farm mechanization, introducing India's first 4WD compact tractors. The company distributes its products through an extensive network of dealers and vendors domestically and exports to over 40 countries across Europe, Asia, and Africa. Recent strategic moves include the incorporation of VST Americas Inc. in April 2024 to target the US market, despite a temporary suspension of certain drivetrain exports to the US in November 2025 due to new tariffs. VST continues to innovate with recent launches such as the Series 9, FENTM, and VST POWER Series of tractors, and is set to introduce electric power tillers and weeders in FY2026. The company is focused on expanding its offerings for small and marginal farmers, investing in a global R&D center, and aims to achieve a significant revenue target by fiscal year 2027 through sustained product development and market penetration.