V.S.T. Tillers Tractors Ltd.

•

vsttractors.comBSE: 531266NSE: VSTTILLERS

Market Cap₹ 3,496 Cr.

Current Price

High / Low₹ 6,374 / 4,026

Stock P/E31.7

Book Value₹ 1,320

Price to Book3.80

Dividend Yield0.62 %

ROCE13.8 %

ROE10.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Tillers: 59.1% • Others: 20.3% • Tractors: 19.8%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company is almost debt free
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Recent results are weak - TTM profit is down 20.5% versus prior year
Company has delivered a poor profit growth of 3.1% over past five years
Expensive relative to growth - PEG of 6.8

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsAutomobile & AncillariesAutomobiles-Tractors

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ESCORTS	2900.15	23.46	32446.23	1.76	385.93	-97.24	3207.55	28.30	16.08	11.05
2.	VSTTILLERS	4039.90	32.09	3495.63	0.62	48.43	9.52	313.40	10.96	13.73	12.76
3.	INDOFARM	141.95	27.38	682.09	0.00	56.57	941.04	1102.43	1045.25	7.44	13.12

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	246	279	170	273	191	283	219	301	282	315	314	328	313
	214	235	160	234	177	246	200	261	245	274	274	282	279
Operating Profit	32	43	10	40	13	38	20	40	38	41	41	47	34
OPM %	12.88%	15.48%	5.61%	14.57%	7.02%	13.33%	8.92%	13.39%	13.28%	12.98%	12.95%	14.25%	10.98%
	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
Profit before Tax	43	50	20	43	28	58	4	33	57	37	41	9	62
Tax %	22.54%	26.60%	16.63%	18.38%	18.22%	21.90%	55.73%	23.49%	21.27%	30.35%	24.76%	40.63%	22.02%
Net Profit	33	36	17	35	23	45	2	25	45	25	31	5	49
	38.19	42.19	19.62	40.65	26.45	52.01	1.97	28.91	51.56	29.42	35.54	6.12	56.32

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	675	763	615	544	764	854	1,006	968	995	1,240	1,271
	574	644	570	526	672	729	879	843	883	1,081	1,108
Operating Profit	101	120	45	17	92	125	128	125	111	160	163
OPM %	15.01%	15.68%	7.30%	3.22%	12.06%	14.61%	12.71%	12.87%	11.20%	12.86%	12.81%
	29	45	45	24	46	34	25	61	38	11	7
Interest	3	2	2	2	2	2	2	3	2	2	2
Depreciation	12	11	16	16	17	25	27	27	25	26	25
Profit before Tax	116	152	72	23	119	132	124	156	122	143	149
Tax %	28.63%	26.44%	35.61%	22.06%	23.86%	24.87%	25.48%	21.91%	22.54%	25.80%	25.93%
Net Profit	83	112	46	18	91	99	92	122	94	106	110
EPS	95.73	129.61	53.32	20.83	105.07	114.95	106.90	140.65	109.28	122.50	—
Dividend Payout %	0.00%	38.58%	28.13%	71.97%	19.03%	17.40%	23.39%	14.22%	18.30%	20.41%	—

COMPOUNDED SALES GROWTH

10 Years:: 7%
5 Years:: 10%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: 4%
5 Years:: 3%
3 Years:: 5%

STOCK PRICE CAGR

10 Years:: 8%
5 Years:: 8%
3 Years:: 5%
1 Year:: -24%

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 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
	491	588	581	568	659	741	816	915	993	1,085
	40	40	46	40	43	41	43	42	43	41
Trade Payables	36	62	34	58	83	82	131	99	99	101
	55	88	78	54	91	93	92	103	124	112
Total Liabilities	631	786	748	729	885	966	1,091	1,167	1,267	1,347
	127	136	183	184	226	244	240	228	219	211
Capital Work in Progress	10	57	35	48	25	12	14	5	10	18
	188	204	165	156	312	414	430	484	525	634
	71	78	124	102	107	101	108	118	101	123
	0	0	0	0	0	0	0	155	206	172
Cash & Bank	37	17	19	26	32	31	28	47	75	50
	199	294	223	212	182	165	271	130	132	141
Total Assets	631	786	748	729	885	966	1,091	1,167	1,267	1,347

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	124	68	78	82	180	160	67	49	77	132
Cash from Investing	-75	-36	11	-33	-148	-110	-32	9	-29	-136
Cash from Financing	-3	-17	-54	-33	-2	-19	-19	-25	-20	-20
	9	-19	0	7	6	-4	-14	33	27	-24

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	55.63	55.63	55.63	55.63	55.61	55.61	55.61	55.61	55.55
	2.79	2.90	2.67	2.47	1.40	1.76	1.61	1.84	1.21
	17.97	19.10	20.47	20.72	21.72	21.41	20.59	19.61	19.97
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	23.60	22.36	21.22	21.17	21.26	21.22	22.18	22.94	23.28

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Copy of Newspaper Publication

2026-09-10 - V.S.T Tillers Tractors Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-03

Copy of Newspaper Publication

2026-09-03 - V.S.T Tillers Tractors Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

Copy of Newspaper Publication

2026-09-02 - V.S.T Tillers Tractors Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-01

Updates

2026-09-01 - V.S.T Tillers Tractors Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Reporting'.

2026-09-01

Shareholders meeting

2026-09-01 - V.S.T Tillers Tractors Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 23, 2026

2026-09-01

Record Date

2026-09-01 - V.S.T Tillers Tractors Limited has informed the Exchange that Record date for the purpose of Dividend is 16-Sep-2026.

2026-09-01

Monthly Business Updates

2026-09-01 - V.S.T Tillers Tractors Limited has informed the Exchange regarding Monthly Business Updates for the month of August 2026

2026-08-19

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-19 - V.S.T Tillers Tractors Limited has informed the Exchange about Transcript

2026-08-14

General Updates

2026-08-14 - V.S.T Tillers Tractors Limited has informed the Exchange about General Updates-News paper publication

News

Recent coverage and analyst commentary for VSTTILLERS

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