Tractors & Farm Machinery: Q1 FY27 results (April-June 2026)

5 companies have declared Tractors & Farm Machinery Q1 FY27 results so far, the latest on 13 Aug 2026.

Across the 4 non-financial companies with a year-ago quarter to compare, sales grew +22.7% and net profit -67.0% year on year, and the combined operating margin narrowed 154 bps to 11.4%.

75% of companies grew net profit; 0% beat their own profit trend and 100% fell short of it.

Updated 12 Oct 2026, 12:20 IST 5 declared 111 due in the next 3 days →

Tractors & Farm Machinery Q1 FY27 scoreboard

Sales growth
+22.7%
YoY, 4 companies combined; median +12.7%
Net profit growth
-67.0%
YoY combined; median +4.5%
Operating margin
11.4%
-154 bps YoY
Grew profit
75%
0 turnarounds, 0 into loss
Vs own profit trend
0% / 100%
above / below, 0% in line
Price since results
-11.8%
median; 0% of 5 stocks up
Other-income heavy
2
25%+ of pre-tax profit from other income & one-offs

Latest Tractors & Farm Machinery Q1 FY27 results 5

V.S.T Tillers Tractors Limited

VSTTILLERS · Tractors & Farm Machinery · Q1 FY27 · Consolidated · Filed
M Cap
₹3,665 Cr
P/E
33.6
PEG
6.73
Since results
-6.2%
  • Profit -13% below its own trend
  • 45% of pre-tax profit came from other income and one-off items
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +11.0%-4.6% 313328282
Operating profit +7.4%-13.6% 40.346.637.5
OPM % -42 bps-134 bps 12.9%14.2%13.3%
Other income +9.9%from loss 28.1-31.225.6
Net profit +9.5%+851.5% 48.45.144.2
PAT margin % -20 bps+1390 bps 15.5%1.5%15.7%
EPS (₹) +9.4%+851.9% 55.975.8851.16

Quality of profit

Core 55%Other income & one-offs 45%

Pre-tax profit ₹62.2 Cr: core business ₹34.4 Cr, other income ₹28.1 Cr.

Core profit YoY: +12.1% · reported profit +9.5%

Cash & debt

FY26 cash from operations ₹132 Cr: 126% of FY26 net profit of ₹105 Cr.

Borrowings ₹2.0 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹360₹313 -12.9% below
Net profit₹55.8₹48.4 -13.3% below
AI read of the filing VST Tillers Q1 PAT Rises 9.5% to ₹48.4 Cr; Revenue Up 11% YoY Positive
  • 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.
Full analysis →

Indo Farm Equipment Limited

INDOFARM · Tractors & Farm Machinery · Q1 FY27 · Consolidated · Filed
M Cap
₹642 Cr
P/E
25.8
PEG
1.72
Since results
-16.0%
  • Profit -25% below its own trend
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +14.5%-17.7% 11013496.3
Operating profit +9.9%-22.3% 14.518.613.2
OPM % -56 bps-78 bps 13.1%13.9%13.7%
Other income -40.1%-10.2% 1.11.21.8
Net profit +4.1%-35.1% 5.78.75.4
PAT margin % -51 bps-138 bps 5.1%6.5%5.6%
EPS (₹) +4.4%-34.8% 1.181.811.13

Quality of profit

Core 87%Other income & one-offs 13%

Pre-tax profit ₹7.8 Cr: core business ₹6.8 Cr, other income ₹1.1 Cr.

Core profit YoY: +17.7% · reported profit +4.1%

Cash & debt

FY26 cash from operations ₹30.0 Cr: 121% of FY26 net profit of ₹24.7 Cr.

Borrowings ₹150 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹111₹110 -0.7% in line
Net profit₹7.6₹5.7 -25.1% below
AI read of the filing Indo Farm Q1 FY27: Revenue up 14.5% to ₹110.24 Cr; Tractor segment grows 36% YoY Positive
  • Consolidated revenue from operations increased to ₹110.24 Cr in Q1 FY27 from ₹96.26 Cr in Q1 FY26.
  • Tractor segment revenue grew significantly by 36.3% YoY to ₹52.08 Cr.
  • Crane segment revenue remained stagnant at ₹52.86 Cr compared to ₹53.05 Cr in the same quarter last year.
Full analysis →

Captain Polyplast Limited

CPL · Tractors & Farm Machinery · Q1 FY27 · Standalone · Filed
M Cap
₹364 Cr
P/E
—
PEG
—
Since results
-14.7%
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales —— 81.2——
Operating profit —— 9.4——
OPM % —— 11.5%——
Other income —— 0.5——
Net profit —— 4.7——
PAT margin % —— 5.7%——
EPS (₹) —— 0.78——

Quality of profit

Core 93%Other income & one-offs 7%

Pre-tax profit ₹6.9 Cr: core business ₹6.4 Cr, other income ₹0.5 Cr.

Core profit YoY: —

AI read of the filing CPL Q1 FY27 PAT up 12.2% YoY to ₹4.65 Cr; Revenue grows 16.4% to ₹81.16 Cr Positive
  • Revenue from operations grew 16.4% YoY to ₹8,116.49 Lakhs from ₹6,974.20 Lakhs.
  • Standalone Profit After Tax (PAT) increased 12.2% YoY to ₹465.32 Lakhs.
  • Micro Irrigation segment revenue stood at ₹8,124.75 Lakhs, while the Polymer business contributed only ₹41.41 Lakhs.
Full analysis →

Ajax Engineering Limited

AJAXENGG · Tractors & Farm Machinery · Q1 FY27 · Standalone · Filed
M Cap
₹6,526 Cr
P/E
28.7
PEG
—
Since results
-6.0%
  • Profit -38% below its own trend
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +1.6%-37.4% 475758467
Operating profit -3.0%-48.6% 59.111561.0
OPM % -60 bps-271 bps 12.5%15.2%13.1%
Other income +40.0%+40.0% 18.213.013.0
Net profit +4.9%-41.5% 55.695.053.0
PAT margin % +37 bps-82 bps 11.7%12.5%11.3%
EPS (₹) +5.2%-41.4% 4.868.304.62

Quality of profit

Core 76%Other income & one-offs 24%

Pre-tax profit ₹74.3 Cr: core business ₹56.1 Cr, other income ₹18.2 Cr.

Core profit YoY: -3.3% · reported profit +4.9%

Against its own trend ?

TrendActualGap
Sales₹598₹475 -20.6% below
Net profit₹90.4₹55.6 -38.5% below
AI read of the filing Ajax Engineering Q1 PAT Grows 5.1% YoY to ₹55.6 Cr; Revenue Muted at ₹474.6 Cr Neutral
  • Revenue from operations reached ₹474.60 cr, a slight increase from ₹466.52 cr in Q1 FY26.
  • Net profit for the quarter stood at ₹55.60 cr compared to ₹52.88 cr in the same period last year.
  • Total expenses for the quarter were ₹418.49 cr, with raw material costs at ₹335.93 cr.
Full analysis →

Escorts Kubota Limited

ESCORTS · Tractors & Farm Machinery · Q1 FY27 · Consolidated · Filed
M Cap
₹30,043 Cr
P/E
21.7
PEG
0.84
Since results
-11.8%
  • Profit -74% below its own trend
  • Operating margin contracted 180 bps YoY
  • 42% of pre-tax profit came from other income and one-off items
  • Core business grew faster than reported profit (core profit +10%)
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +28.3%+8.1% 3,2082,9682,500
Operating profit +10.3%-7.0% 354381321
OPM % -180 bps-179 bps 11.1%12.8%12.9%
Other income +33.1%+70.4% 208122156
Net profit -72.4%+20.2% 3863211,397
PAT margin % -4385 bps+122 bps 12.0%10.8%55.9%
EPS (₹) -72.4%+22.4% 35.0828.65127.01

Quality of profit

Core 58%Other income & one-offs 42%

Pre-tax profit ₹492 Cr: core business ₹284 Cr, other income ₹208 Cr.

Core profit YoY: +10.3% · reported profit -72.4%

Cash & debt

FY26 cash from operations ₹1,381 Cr: 58% of FY26 net profit of ₹2,395 Cr.

Borrowings ₹162 Cr at Mar 2026.

Against its own trend ?

TrendActualGap
Sales₹2,793₹3,208 +14.8% above
Net profit₹1,485₹386 -74.0% below
AI read of the filing Escorts Kubota Q1 Revenue Grows 28% YoY to ₹3,178.9 Cr; Net Profit at ₹387.3 Cr Positive
  • Revenue from operations increased 28% YoY to ₹3,178.90 Cr from ₹2,483.36 Cr.
  • Agri Machinery segment revenue grew 26.8% YoY to ₹2,766.46 Cr.
  • Construction Equipment segment revenue surged 39.2% YoY to ₹419.63 Cr.
Full analysis →

Standouts so far

Biggest profit growth

  1. V.S.T Tillers+9.5%
  2. Ajax Engineering+4.9%
  3. Escorts Kubota-72.4%

Biggest profit declines

  1. Escorts Kubota-72.4%
  2. Ajax Engineering+4.9%
  3. V.S.T Tillers+9.5%

Best price reaction

  1. Ajax Engineering-6.0%
  2. V.S.T Tillers-6.2%
  3. Escorts Kubota-11.8%

Worst price reaction

  1. Escorts Kubota-11.8%
  2. V.S.T Tillers-6.2%
  3. Ajax Engineering-6.0%

Among companies with a market cap of ₹1,000 Cr or more, so a tiny base does not top the list. Price reaction: last close against the close before the filing.

Reporting in the next three days

HCL Technologies (Mon 12 Oct), ICICI Prudential (Mon 12 Oct), RBL Bank (Mon 12 Oct), Swan Defence (Mon 12 Oct), Gujarat State (Mon 12 Oct), Swaraj Engines (Mon 12 Oct), Plastiblends India (Mon 12 Oct), UMIYA BUILDCON (Mon 12 Oct), Alkali Metals (Mon 12 Oct), Gradiente Infotainment (Mon 12 Oct), Agri-Tech (India) (Mon 12 Oct), Abhishek Integrations (Mon 12 Oct), Rudra Ecovation (Mon 12 Oct), Newtrac Foods (Mon 12 Oct), Inani Securities (Mon 12 Oct), Neil Industries (Mon 12 Oct), Adroit Industries (Mon 12 Oct), TYPHOON (Mon 12 Oct), UNIVARTS (Mon 12 Oct), VERONICAPRO (Mon 12 Oct), ICICI Prudential (Tue 13 Oct), Tata Elxsi (Tue 13 Oct), Transformers And Rectifiers (Tue 13 Oct), Anand Rathi (Tue 13 Oct) and 87 more. Full results calendar →

How to read this page

The numbers. Each card is one company's Q1 FY27 results as filed with NSE or BSE, read from the filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months). A swing between profit and loss is described in words: a percentage across it would mislead.

Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income, as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points (100 bps = 1 percentage point).

Quality of profit. Core profit is operating profit minus interest and depreciation: what the business itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more, and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net profit, since a fall in provisions can lift profit without the business growing.

Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead each company is measured against the path it was on: the same quarter last year, grown at the median of its last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales 5% or more above that, or net profit 10% or more above, is "above trend"; as far below is "below trend". It answers "was this quarter better or worse than the company's own recent run?", which consensus does not.

Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show its operating cash flow for the last financial year as a share of that year's net profit (flagged under 50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet against the one six months earlier (flagged at a 25% move). Balance sheets come with the September and March results, cash-flow statements with the March results.

Price since results. The latest close against the last close before the filing (a filing after 3:30 pm counts from the next session). It is a fact about the market's reaction, not advice.

Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150 (SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.

⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI