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VST Tillers Sept 2026 Sales Up 32.9% YoY to 5,954 Units, Driven by 50.6% Rise in Power Tillers
V.S.T Tillers Tractors reported total monthly sales of 5,954 units for September 2026, marking a 32.87% YoY increase compared to 4,481 units in September 2025. Growth was led by its core power tiller segment, which rose 50.57% YoY to 4,520 units from 3,002 units. Conversely, tractor volumes dipped 10.04% YoY to 430 units, while power weeder volumes were flat at 1,004 units (versus 1,001 units). On a year-to-date (H1 FY27) basis, total volume reached 35,660 units, up 10.15% YoY from 32,375 units.
Confidence: HIGH
What changedMonthly operational disclosure showing a 32.9% YoY jump in total unit sales for September 2026, primarily driven by strong power tiller dispatches.
Why it mattersPower tillers represent VST's dominant business line (~70% domestic market share); robust volume growth indicates sustained rural demand and positive momentum going into the festival season.
Total Sales (Sept 2026): 5954 unitsPower Tiller Sales (Sept 2026): 4520 unitsTractor Sales (Sept 2026): 430 unitsYTD Total Sales: 35660 units
📅 Short termLikely to support market sentiment as volume acceleration in power tillers signals a strong close to Q2 dispatches ahead of the festive season.
📈 Long termReinforces VST's competitive strength in farm mechanization and tillers, though tractor sales growth remains a structural area to monitor.
⚠ Risk flags
- Persistent weakness in tractor volumes (-10% YoY in September)
- Dependence on government subsidies and monsoon distribution
Key Highlights
Total sales volume rose 32.87% YoY to 5,954 units in September 2026 vs 4,481 units in September 2025
Power tiller sales surged 50.57% YoY to 4,520 units in September 2026
Tractor sales contracted by 10.04% YoY to 430 units from 478 units in September 2025
Year-to-date total volume expanded to 35,660 units vs 32,375 units in the corresponding period
👀 What to Watch
Track the upcoming Q2 FY27 financial results to assess if strong September tiller volume translates into top-line acceleration and margin expansion.
VST Tillers Sets Sept 16 Record Date for Rs 25/Share Final Dividend; AGM on Sept 23
V.S.T. Tillers Tractors Limited has scheduled its 58th Annual General Meeting for September 23, 2026, and fixed September 16, 2026, as the Record Date for determining shareholder eligibility for its final dividend of Rs 25 per share (face value Rs 10) for FY 2025-26. Subject to approval at the AGM, the dividend will be disbursed on or after September 23, 2026. Against the current share price of Rs 4,315.90, this proposed dividend represents a dividend yield of approximately 0.58%.
Confidence: HIGH
What changedVST Tillers formalized the AGM schedule and fixed the record date of September 16, 2026, for its recommended Rs 25/share FY26 dividend.
Why it mattersConfirms shareholder payout timeline and enables voting access for AGM resolutions, supported by the company's net-debt-free balance sheet.
Final Dividend per share: Rs 25Record Date: September 16, 2026AGM Date: September 23, 2026Dividend Yield: ~0.58%
📅 Short termThe stock will trade ex-dividend around mid-September ahead of the September 16, 2026 record date.
📈 Long termLimited; routine annual dividend payout consistent with the company's historical capital allocation.
Key Highlights
Recommended final dividend of Rs 25 per share (FV Rs 10) for FY 2025-26.
Record date and e-voting cut-off set for Wednesday, September 16, 2026.
58th Annual General Meeting to be held via Video Conferencing on September 23, 2026.
Remote e-voting window runs from September 19, 2026 (9:00 AM) to September 22, 2026 (5:00 PM).
👀 What to Watch
Investors seeking dividend eligibility must hold shares before the September 16, 2026 record date; monitor voting results from the September 23, 2026 AGM.
August 2026 sales drop 17.3% YoY to 3,720 units; YTD sales up 3.0% to 24,634 units
V.S.T Tillers Tractors reported total monthly sales of 3,720 units in August 2026, marking a 17.3% YoY decline compared to 4,499 units sold in August 2025. Power tiller sales fell 17.4% YoY to 3,387 units (vs 4,100 units), while tractor sales declined 16.5% YoY to 333 units (vs 399 units). On a cumulative YTD basis, total volume is up 3.0% at 24,634 units compared to 23,925 units in the corresponding period of the previous year.
Confidence: HIGH
What changedMonthly dispatch figures for August 2026 show a YoY contraction of ~17% across both power tillers and tractors.
Why it mattersPower tillers constitute the dominant volume and revenue driver for the company; a single-month slowdown may moderate near-term top-line growth if not recovered during the peak festive months.
August 2026 Total Sales: 3,720 unitsAugust 2025 Total Sales: 4,499 unitsAugust 2026 Power Tillers: 3,387 unitsAugust 2026 Tractors: 333 unitsYTD FY27 Total Volume: 24,634 units
📅 Short termWeak August dispatch numbers could put mild pressure on near-term sentiment ahead of festive channel-filling in September and October.
📈 Long termLimited structural impact from a single monthly volume print, though sustaining market share in tillers and ramping up the tractor segment remain crucial for long-term growth targets.
⚠ Risk flags
- Cyclical volume slowdown in tractor and tiller demand
- Dependence on monsoon progress and government farm subsidy disbursements
Key Highlights
Total sales in August 2026 stood at 3,720 units, down 17.3% YoY from 4,499 units in August 2025.
Power Tiller monthly volume dropped 17.4% YoY to 3,387 units, though YTD volume grew 3.7% to 22,638 units.
Tractor monthly volume fell 16.5% YoY to 333 units, with YTD volume down 4.9% to 1,996 units.
Overall YTD volume reached 24,634 units compared to 23,925 units in the previous year period.
👀 What to Watch
Monitor upcoming monthly volume trajectory leading into the festive season and Q2 FY27 revenue realization given the high volume concentration in power tillers.
Q1 FY27 Results: 11% Revenue Growth to ₹313.4 Cr; PAT Rises 9.4% to ₹48.7 Cr
VST Tillers Tractors reported a steady Q1 FY27 with revenue growing 11% YoY to ₹313.40 crore, up from ₹282.5 crore. Operational EBITDA improved to ₹40.29 crore, maintaining a margin of 12.85% despite commodity inflationary pressures. Net profit (PAT) increased by 9.36% to ₹48.73 crore compared to ₹44.56 crore in the same quarter last year. The company continues to leverage its 70% market share in the power tiller segment while navigating supply chain disruptions.
Confidence: HIGH
What changedThe company released its Q1 FY27 financial results, showing a return to double-digit revenue growth compared to the previous year's first quarter.
Why it mattersThe results demonstrate operational resilience and the ability to maintain double-digit EBITDA margins despite inflationary headwinds in the automobile and tractor industry.
Revenue (Q1 FY27): ₹313.40 crorePAT (Q1 FY27): ₹48.73 croreEBITDA Margin: 12.85%Q1 Revenue vs TTM Revenue: 25.27%PAT Growth (YoY): 9.36%
📅 Short termThe stock may see neutral to positive sentiment as the earnings show steady growth and margin stability in a challenging inflationary environment.
📈 Long termStructural growth depends on the successful scaling of the high-horsepower tractor segment and increasing the revenue share from higher-margin exports.
⚠ Risk flags
- Commodity price volatility impacting margins
- High dependence on monsoon-driven agricultural demand
- Regulatory risks related to government subsidies for power tillers
Key Highlights
Revenue from operations increased 11% YoY to ₹313.40 crore.
Operational EBITDA rose to ₹40.29 crore from ₹37.50 crore in the previous year.
Profit After Tax (PAT) grew 9.36% YoY to ₹48.73 crore.
EBITDA margin maintained at 12.85% despite commodity inflationary pressures.
Company remains virtually debt-free with a total debt of only ₹2 crore against a net worth of ₹1098 crore.
👀 What to Watch
Monitor the sales volume of the new VST ZETOR tractor range and the impact of the current monsoon season on rural demand for tillers.
11% Revenue Growth in Q1 FY27; Power Tiller Volumes Up 17.9% YoY
V.S.T. Tillers Tractors reported a steady Q1 FY27 with revenue growing 11% YoY to 313.4 Cr. Growth was primarily driven by the Power Tiller segment, which saw volumes rise 17.9% to 13,801 units, and a 56.7% surge in Power Weeder volumes. While PAT increased 9.2% to 48.7 Cr, operating EBITDA margins saw a slight compression to 12.85% from 13.3% due to commodity inflation and supply chain disruptions. The company flagged concerns regarding an uneven monsoon outlook and volatile raw material prices like steel and rubber.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results, showing strong domestic volume growth in tillers and weeders but margin pressure and declining tractor exports.
Why it mattersThe results confirm VST's continued dominance in the power tiller market (70% share) and its ability to maintain double-digit revenue growth despite macro headwinds like uneven rainfall and high input costs.
Q1 FY27 Revenue: 313.4 CrRevenue vs TTM Revenue: 25.2%Power Tiller Volume: 13,801 unitsPAT Growth (YoY): 9.2%Op EBITDA Margin: 12.85%
📅 Short termThe stock may react positively to the double-digit revenue and tiller volume growth, though the cautious macro outlook on monsoons could temper gains.
📈 Long termLong-term value depends on diversifying the product mix toward higher horsepower tractors (ZETOR) and reducing dependence on government subsidies for tillers.
⚠ Risk flags
- Below-normal monsoon outlook impacting rural demand
- Commodity cost inflation in Steel and Rubber
- Geopolitical disruptions affecting export logistics and costs
Key Highlights
Power Tiller sales volume grew 17.9% YoY to 13,801 units in Q1 FY27
Total Revenue increased to 313.4 Cr, representing approximately 25% of TTM revenue
Power Weeder segment recorded significant volume growth of 56.7% with 3,680 units sold
Operating EBITDA rose 7.5% to 40.3 Cr, though margins dipped 45 bps to 12.85%
Tractor export volumes declined by 11.9% YoY to 275 units amid geopolitical disruptions
👀 What to Watch
Monitor the impact of the 'below-normal' monsoon outlook on rural demand and the company's ability to pass on commodity cost inflation in upcoming quarters. Watch for volume recovery in the tractor export segment and the scaling of the VST ZETOR product line.
VST Tillers Q1 PAT Rises 9.5% to ₹48.43 Cr; Appoints Brahmayya & Co as New Auditors
V.S.T. Tillers Tractors reported a 10.9% YoY growth in revenue to ₹313.40 Cr for Q1 FY27. Consolidated Net Profit increased to ₹48.43 Cr from ₹44.22 Cr in the previous year's corresponding quarter, though this was significantly aided by a ₹26.15 Cr fair value gain on investments. The company also initiated a transition in its statutory auditors, appointing Brahmayya & Co for a five-year term. The VST Zetor joint venture remains in a nascent stage, contributing a small loss of ₹30.39 lakhs for the quarter.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results and announced a planned transition of its statutory auditors to Brahmayya & Co.
Why it mattersThe results show steady revenue growth in a competitive market, while the auditor change ensures continued regulatory compliance and governance for the next five years.
Revenue (Q1 FY27): ₹313.40 CrNet Profit (Q1 FY27): ₹48.43 CrFair Value Gain on Investments: ₹26.15 CrRevenue vs TTM Revenue: 25.3%Auditor Term: 5 Years
📅 Short termThe stock may see neutral to slightly positive movement as the profit growth is supported by non-operational investment gains, though revenue growth remains healthy.
📈 Long termThe company's dominant 70% market share in tillers and expansion into high-HP tractors through the Zetor JV remain the primary structural drivers.
⚠ Risk flags
- High reliance on non-operational fair value gains for profit growth this quarter
- Cyclicality of agricultural demand linked to monsoon performance
Key Highlights
Revenue from operations increased 10.9% YoY to ₹313.40 Cr from ₹282.45 Cr.
Consolidated Net Profit grew 9.5% YoY to ₹48.43 Cr, resulting in an EPS of ₹55.97.
Other income and fair value gains on investments contributed ₹28.07 Cr to the total income.
The Board approved the appointment of M/s. Brahmayya & Co as Statutory Auditors for a 5-year term starting from the 58th AGM.
The company's joint venture, VST Zetor Private Limited, reported a net loss of ₹30.39 lakhs.
👀 What to Watch
Investors should monitor the core operational margins excluding fair value gains and track the sales ramp-up of the VST Zetor tractor range in the upcoming festive season.
VST Tillers Q1 PAT Rises 9.5% to ₹48.4 Cr; Revenue Up 11% YoY
V.S.T. Tillers Tractors reported a steady Q1 FY27 with consolidated revenue growing 11% YoY to ₹313.40 Cr. Net profit increased by 9.5% to ₹48.43 Cr, significantly supported by a ₹26.15 Cr fair value gain on investments. The company's joint venture, VST Zetor, contributed a minor loss of ₹30.39 lakhs. Additionally, the board has proposed the appointment of M/s. Brahmayya & Co. as new statutory auditors for a five-year term.
Confidence: HIGH
What changedThe company reported its first-quarter results for FY27 and initiated a transition to a new statutory auditor, M/s. Brahmayya & Co.
Why it mattersThe results demonstrate continued top-line growth in the core agricultural machinery business, though the bottom line remains sensitive to non-operating investment valuations.
Revenue (Q1 FY27): ₹313.40 CrNet Profit (Q1 FY27): ₹48.43 CrFair Value Gain on Investments: ₹26.15 CrRevenue vs TTM Revenue: 25.27%Basic EPS: ₹55.97
📅 Short termThe stock may see positive sentiment due to YoY growth in revenue and profit, although the high contribution of investment gains to the PAT might be scrutinized.
📈 Long termThe long-term outlook depends on the successful scaling of the high-horsepower tractor segment and reducing the impact of subsidy-related volatility in the tiller segment.
⚠ Risk flags
- High reliance on non-operating income (investment gains) for quarterly profitability
- Loss-making joint venture (VST Zetor)
- Cyclical agricultural demand
Key Highlights
Revenue from operations increased 11% YoY to ₹313.40 Cr compared to ₹282.45 Cr in Q1 FY26.
Consolidated Net Profit rose to ₹48.43 Cr from ₹44.22 Cr in the corresponding quarter last year.
Profitability was bolstered by a ₹26.15 Cr net gain on fair value changes of investments.
The VST Zetor Joint Venture reported a net loss of ₹30.39 lakhs for the quarter ended June 30, 2026.
Proposed appointment of M/s. Brahmayya & Co. as Statutory Auditors for a 5-year term starting from the 58th AGM.
👀 What to Watch
Investors should monitor the sales volume of the new VST Zetor tractor range and the sustainability of investment gains which currently represent a large portion of the pre-tax profit.
9.5% YoY Decline in July 2026 Total Sales; YTD Sales Up 7.7%
V.S.T Tillers Tractors reported a 9.5% year-on-year decline in total sales for July 2026, with 5,853 units sold compared to 6,471 units in July 2025. The core Power Tiller segment saw a 9.6% drop to 5,450 units, while Tractor sales fell 9.4% to 403 units. Despite the monthly dip, Year-to-Date (YTD) performance remains positive with total volumes up 7.7% at 20,914 units. This growth is primarily supported by an 8.6% YTD increase in Power Tiller sales, which is the company's dominant segment with ~70% market share.
Confidence: HIGH
What changedMonthly sales volumes for July 2026 showed a contraction across both product lines (Tillers and Tractors) compared to July 2025.
Why it mattersAs the dominant player in the power tiller market (70% share), monthly volume data is the most direct indicator of VST's revenue trajectory and rural demand health.
July 2026 Total Sales: 5,853 unitsJuly 2025 Total Sales: 6,471 unitsYoY Change (July): -9.55%YTD Total Sales: 20,914 unitsYTD YoY Change: +7.66%
📅 Short termThe stock may face mild pressure due to the monthly volume decline, although the positive YTD growth provides some cushion.
📈 Long termStructural growth depends on the successful ramp-up of the high-horsepower VST ZETOR tractor range and continued dominance in the tiller segment.
⚠ Risk flags
- Dependence on monsoons
- Cyclicality of the tractor industry
- Sensitivity to government subsidy policies
Key Highlights
Total sales for July 2026 decreased to 5,853 units from 6,471 units in the previous year.
Power Tiller sales, the primary revenue driver, fell by 576 units (9.6%) year-on-year for the month of July.
Tractor sales volume declined to 403 units in July 2026, down from 445 units in July 2025.
Year-to-Date (YTD) total sales reached 20,914 units, representing a 7.7% growth over the 19,426 units sold in the same period last year.
YTD Power Tiller sales stand at 19,251 units, an 8.6% increase compared to 17,727 units in the previous YTD period.
👀 What to Watch
Investors should monitor the progress of the monsoon and government subsidy disbursements, as these are critical drivers for tiller demand. The upcoming festive season will be a key indicator of whether the July slowdown is a temporary blip or a trend reversal.
8,107 Total Units Sold in June 2026; YTD Sales Volume Up 22.5% YoY
V.S.T Tillers Tractors reported a modest 3% YoY growth in total sales for June 2026, reaching 8,107 units. The performance was mixed across segments, with Power Weeders growing 39% YoY, while Tractor sales declined by 12.6% to 435 units. However, the Year-to-Date (YTD) performance remains robust, with total volumes up 22.5% compared to the previous year, led by a 17.9% increase in the core Power Tiller segment. This YTD momentum aligns with the company's internal growth targets despite the monthly volatility in tractor sales.
Confidence: HIGH
What changedThe filing provides the monthly operational sales data for June 2026, showing a slowdown in monthly tractor sales but maintaining strong cumulative YTD growth across tillers and weeders.
Why it mattersAs the market leader in power tillers (70% share), VST's monthly volumes are a lead indicator for rural economic health and the company's ability to meet its 26% expected growth rate. The divergence between tiller growth and tractor decline highlights segment-specific challenges.
Total June Sales: 8,107 unitsYTD Total Sales Growth: 22.5%Power Weeder June Growth: 39%Tractor June Decline: 12.6%YTD Power Tiller Sales: 13,801 units
📅 Short termThe stock may see neutral to slightly cautious sentiment due to the double-digit decline in tractor sales for the month, though the strong YTD volume growth provides a fundamental cushion.
📈 Long termThe 22.5% YTD growth suggests the company is on track with its expansion strategy. Long-term value depends on the successful scaling of the high-horsepower tractor segment and reducing dependence on government subsidies.
⚠ Risk flags
- Negative growth in the tractor segment for June
- High dependence on monsoon and agricultural cycles
- Potential impact of government subsidy policy changes on tiller demand
Key Highlights
Total sales for June 2026 reached 8,107 units, a 3% increase over 7,869 units in June 2025.
Year-to-Date (YTD) total sales volume grew by 22.5% to 18,741 units compared to 15,304 units in the prior year period.
Power Weeder segment recorded the highest monthly growth of 39%, selling 1,001 units.
Tractor sales saw a contraction of 12.6% YoY in June, falling to 435 units from 498 units.
Core Power Tiller segment remained stable in June with 6,671 units sold, but shows strong YTD growth of 17.9%.
👀 What to Watch
Investors should monitor the progression of the monsoon and its impact on rural demand in Q2, as the company derives 78% of its revenue from agricultural segments. Watch for a recovery in tractor volumes following the launch of the VST ZETOR range to see if it can offset the current monthly decline.
VST Tillers Tractors May 2026 Total Sales Surge 28% YoY to 4,472 Units
V.S.T Tillers Tractors Limited reported a strong sales performance for May 2026, with total volumes reaching 4,472 units compared to 3,486 units in May 2025. The growth was primarily driven by the Power Tillers segment, which saw a significant 31.9% year-on-year increase to 4,019 units. Tractor sales remained stable with a modest growth of 3.2%, totaling 453 units for the month. On a Year-to-Date (YTD) basis, the company has achieved a 37% growth in total sales, reaching 7,955 units compared to 5,806 units in the previous year.
Key Highlights
Total sales for May 2026 grew by 28.3% YoY to 4,472 units from 3,486 units.
Power Tiller sales jumped to 4,019 units in May 2026 versus 3,047 units in May 2025.
Tractor sales showed marginal growth, rising to 453 units from 439 units YoY.
Year-to-Date (YTD) total sales reached 7,955 units, a significant increase from 5,806 units in the prior year period.
👀 What to Watch
Investors should view the strong volume growth in the power tiller segment as a positive indicator of rural demand; maintain a watch on tractor volume recovery in the coming months.
VST Tillers Reports 25% Revenue Growth to ₹1240 Cr and 49% EBITDA Surge in FY26
V.S.T Tillers Tractors Limited delivered a strong performance in FY26, with operational revenue growing 25% YoY to ₹1240 crore. Operating EBITDA saw a significant jump of 49% to ₹165.9 crore, driven by operational efficiencies and a focus on high-margin segments. While reported PAT grew by 12% to ₹106 crore, it was impacted by a ₹30 crore fair value loss; excluding this, PAT growth was a robust 61%. The company also improved its working capital cycle to 43 days and maintained a healthy cash generation of ₹132 crore.
Key Highlights
Operational revenue increased to ₹1240 crore in FY26 from ₹994 crore in FY25, representing a 25% YoY growth.
Operating EBITDA grew by 49% YoY to ₹165.9 crore, with margins improving from 11.2% to 13.4%.
Adjusted PAT (excluding fair value losses) rose 61% YoY to ₹113 crore, showing strong underlying profitability.
Net working capital cycle improved significantly to 43 days in FY26 compared to 59 days in the previous year.
The company maintained a strong cash position with ₹132 crore generated from operations during the fiscal year.
👀 What to Watch
Investors should view the strong operational EBITDA growth and improved working capital cycle as positive indicators of management efficiency. Monitor the company's progress in the European market under the FieldTrac brand and its ability to scale the higher-HP tractor segment.
VST Tillers Eyes Global Expansion and Electric Segment Amidst Monsoon Uncertainty
VST Tillers is navigating a cautious FY27 outlook due to El Niño concerns and inflationary pressures, refraining from providing formal guidance at this stage. The company is aggressively expanding its small farm machinery segment, having grown power weeder sales from 2,000 to 11,500 units over three years, with electric variants launching in Q2. Significant global moves include establishing a Netherlands base and a planned US market entry by late 2027. With ₹600 crores in cash and investments, management is actively seeking inorganic growth opportunities to close within the next six months.
Key Highlights
Power weeder sales surged from 2,000 to 11,500 units over the last 3 years, showing strong mechanization demand.
Company holds approximately ₹600 crores in cash and investments for potential acquisitions and R&D.
US market launch scheduled for late CY 2027, with initial tractor shipments starting by the end of this year.
Commercialization of electric tillers and weeders expected to scale up from Q2 FY27 onwards.
Management expects the overall tractor industry volume to remain broadly flat in the 10-11 lakh range.
👀 What to Watch
Investors should monitor the impact of the monsoon on rural demand and the progress of the electric product rollout in Q2. The potential acquisition announcement within the next six months remains a key catalyst to watch.
VST Tillers FY26 Revenue Grows 25% to ₹1,240 Cr; Power Tiller Sales Cross 50,000 Units
VST Tillers reported a strong FY26 performance with revenue growing 25% to ₹1,240 crores, driven by record power tiller sales exceeding 50,000 units. Operational EBITDA margins improved significantly by 220 basis points to 13.4%, while operational PAT (excluding fair value adjustments) rose to ₹113 crores. The company is aggressively targeting a ₹3,000 crore revenue goal by FY30 through product diversification and increased retail financing. Management remains cautious but optimistic for FY27, citing a 92% LPA monsoon forecast and inflationary pressures.
Key Highlights
FY26 Revenue reached ₹1,240 crores, a 25% YoY growth, with record power tiller sales of 50,332 units.
Operational EBITDA margin expanded to 13.4% in FY26 from 11.2% in the previous year.
Domestic tractor sales grew 18.6% to 4,596 units, outperforming the compact tractor industry segment.
Cash generation improved significantly to ₹132 crores compared to ₹76 crores in FY25.
Retail finance penetration reached 10% in FY26, with a target to double it to 20% in FY27.
👀 What to Watch
Investors should monitor the progress of the Zetor tractor launch and the rollout of electric tillers in Q2 FY27 as key growth drivers. The company's focus on reducing subsidy dependence through retail finance makes it a more resilient play on farm mechanization.
VST Tillers Reports 25% Revenue Growth and 61% Jump in Adjusted FY26 PAT
VST Tillers Tractors delivered a strong performance for FY26, with revenue reaching a milestone of ₹1,240 crore, a 25% increase year-on-year. While reported PAT for Q4 saw a dip due to non-cash fair value adjustments on investments, the core operational performance remained robust with adjusted PAT growing 61% for the full year to ₹113 crore. Operational EBITDA margins improved significantly to 13.38%, driven by efficient working capital management and strong cash flow generation of ₹132 crore.
Key Highlights
FY26 Revenue grew 25% YoY to ₹1,240 crore from ₹995 crore in the previous year
Adjusted FY26 PAT (excluding fair value impacts) surged 61% to ₹113 crore
Operational EBITDA margins expanded by 221 basis points to 13.38% for the full year
Operating cash flows improved significantly to ₹132 crore from ₹76 crore in FY25
Q4 adjusted PAT rose 36% YoY to ₹39 crore, despite a drop in reported PAT due to investment valuation
👀 What to Watch
Investors should focus on the strong operational EBITDA and adjusted PAT growth, which reflect core business strength despite volatile reported PAT figures. The significant improvement in cash flows and margin expansion indicates high operational efficiency.
V.S.T Tillers Reports Record FY26 Revenue of ₹1,240 Cr, PAT Up 61% (Excluding Fair Value)
V.S.T Tillers Tractors achieved its highest-ever annual turnover of ₹1,240 crore in FY26, marking a 25% YoY growth. The company saw significant volume growth in power tillers (35%) and power weeders (52%), while domestic tractor volumes rose by 18.6%. Operational EBITDA surged by 49% to ₹165.9 crore, reflecting improved operational efficiency and margin expansion from 11.2% to 13.4%. Net profit (excluding fair value adjustments) grew by 61% to ₹113 crore, supported by strong cash generation from operations which reached ₹132 crore.
Key Highlights
Highest ever annual turnover of ₹1,240 Cr, representing a 25% growth over FY25.
Power Tiller sales reached a record 50,332 units, a 35% increase YoY.
Operational EBITDA grew 49% to ₹165.9 Cr, with margins improving to 13.4%.
Cash generated from operations nearly doubled to ₹132 Cr from ₹76 Cr in the previous year.
Domestic tractor volumes grew 18.6% to 4,596 units, despite a 6.7% decline in exports.
👀 What to Watch
Investors should take note of the significant margin expansion and record-breaking sales volumes in the tiller and weeder segments. The company's strong cash flow and operational efficiency suggest a robust growth trajectory in the farm mechanization sector.
VST Tillers FY26 Revenue Up 25% to ₹1,241 Cr, Recommends ₹25 Dividend
V.S.T. Tillers Tractors reported a strong full-year performance for FY26 with revenue growing 25% to ₹1,240.76 crore and net profit rising to ₹106 crore. However, the fourth quarter (Q4FY26) showed significant weakness, with net profit plunging to ₹5.39 crore from ₹24.26 crore in the same period last year. The company has recommended a final dividend of ₹25 per share, representing a 250% payout on face value. Additionally, the board approved the re-appointment of Dr. Nandakumar Jairam as an Independent Director for a second five-year term.
Key Highlights
Annual Revenue from operations increased 24.7% YoY to ₹1,240.76 crore in FY26.
Full-year Net Profit grew to ₹106 crore compared to ₹96.19 crore in FY25.
Recommended a final dividend of ₹25 per equity share of face value ₹10.
Q4 FY26 Net Profit declined sharply to ₹5.39 crore from ₹24.26 crore in Q4 FY25.
Dr. Nandakumar Jairam re-appointed as Independent Director for a 5-year term starting June 21, 2026.
👀 What to Watch
Investors should monitor the company's margin pressure as evidenced by the sharp Q4 profit dip despite strong annual revenue growth. The ₹25 dividend offers a steady return, but the recent quarterly slowdown suggests a cautious approach to near-term earnings momentum.
VST Tillers Tractors FY26 Net Profit Rises to ₹106 Cr; Recommends ₹25 Dividend
VST Tillers Tractors reported a steady annual performance for FY26 with a net profit of ₹106 crore, up 11.9% from ₹94.7 crore in FY25. However, the Q4 FY26 performance was weak, with net profit dropping sharply to ₹5.39 crore from ₹24.26 crore in the same quarter last year. The company has recommended a final dividend of ₹25 per share, maintaining its commitment to shareholder returns. While annual revenue grew by 23% to ₹1,224 crore, the quarterly margin contraction warrants closer inspection by investors.
Key Highlights
Recommended a final dividend of ₹25 per equity share (250% of face value) for FY 2025-26.
Annual Revenue from operations grew 23% YoY to ₹1,224.07 crore in FY26.
Full-year Net Profit increased to ₹106 crore compared to ₹94.69 crore in the previous fiscal.
Q4 FY26 Net Profit fell significantly to ₹5.39 crore from ₹24.26 crore in Q4 FY25.
Re-appointed Dr. Nandakumar Jairam as an Independent Director for a second term of 5 years.
👀 What to Watch
Investors should balance the positive annual growth and healthy dividend against the sharp profit decline in the final quarter. It is advisable to monitor management's commentary regarding rising input costs or demand shifts in the tiller and tractor segments.
VST Tillers FY26 Revenue Up 25% to ₹1,241 Cr; Proposes ₹25 Dividend per Share
V.S.T. Tillers Tractors reported a strong full-year performance for FY26, with annual revenue growing 24.7% to ₹1,240.76 crore. Net profit for the full year increased by 12.3% to ₹106 crore, supported by overall volume growth. However, the Q4 FY26 performance was notably weak, with net profit plunging to ₹5.89 crore from ₹24.26 crore in the year-ago period. The board has recommended a final dividend of ₹25 per share, maintaining a healthy payout for shareholders.
Key Highlights
Annual Revenue from operations grew 24.7% YoY to ₹1,24,076 Lakhs in FY26.
Full-year Net Profit increased to ₹10,600 Lakhs compared to ₹9,439 Lakhs in FY25.
Recommended a final dividend of ₹25 per equity share of ₹10 face value.
Q4 FY26 Net Profit declined sharply to ₹589 Lakhs from ₹2,426 Lakhs in Q4 FY25.
Re-appointed Dr. Nandakumar Jairam as an Independent Director for a second 5-year term.
👀 What to Watch
Investors should monitor the stock closely as the strong annual performance is overshadowed by a significant profit contraction in the final quarter. While the ₹25 dividend offers a decent yield, the cause of the Q4 margin compression requires further scrutiny from management commentary.
VST Tillers Reports 50% YoY Sales Growth in April 2026 with 3,483 Units Sold
VST Tillers Tractors Limited reported a strong start to the new fiscal year with total sales volume increasing by 50.1% year-on-year in April 2026. The growth was primarily driven by the Power Tiller segment, which saw volumes jump from 2,003 units to 3,111 units. Tractor sales also contributed positively, growing 17.3% to 372 units. This robust performance indicates healthy demand in the agricultural machinery sector at the beginning of FY27.
Key Highlights
Total sales volume increased by 50.1% YoY to 3,483 units in April 2026.
Power Tiller sales surged by 55.3% YoY, reaching 3,111 units compared to 2,003 units.
Tractor sales recorded a 17.3% YoY growth with 372 units sold.
The company demonstrated strong momentum across both core product categories at the start of the fiscal year.
👀 What to Watch
Investors should view these strong volume numbers as a positive indicator for the company's growth trajectory. Maintain a positive outlook while monitoring the upcoming monsoon forecasts which will influence demand for the rest of the year.
VST Tillers GST Demand Slashed to ₹37.30 Lakhs from ₹67.37 Crores
V.S.T Tillers Tractors Limited has received a final assessment order from the Assistant Commissioner (GST), Tamil Nadu, resolving a long-standing tax dispute. The initial GST demand of ₹6,736.73 lakhs for the period FY 2017-18 to FY 2019-20 has been drastically reduced to just ₹37.30 lakhs. This reduction follows the company's successful submissions and representations to the tax authorities. The company confirmed that the final payment will have no significant impact on its financial operations.
Key Highlights
GST demand reduced by over 99% from ₹6,736.73 lakhs to ₹37.30 lakhs
Order pertains to the three-year financial period from FY 2017-18 to FY 2019-20
Final assessment order issued by the Assistant Commissioner (GST), Tamil Nadu on March 28, 2026
Company reports no material impact on financial operations beyond the ₹37.30 lakhs payment
👀 What to Watch
Investors should view this as a positive resolution that removes a significant contingent liability from the company's balance sheet. No further action is required as the financial impact is negligible.
