V.S.T. Tillers Tractors Ltd.

•
₹ 4,410.2-0.5%

2026-08-21

vsttractors.comBSE: 531266NSE: VSTTILLERS
Market Cap₹ 3,848 Cr.
Current Price₹ 4,432
High / Low₹ 6,374 / 4,275
Stock P/E35.3
Book Value₹ 1,321
Price to Book3.36
Dividend Yield0.56 %
ROCE12.7 %
ROE9.7 %
Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Tillers: 54.9% • Others: 22.4% • Tractors: 21.9% • Other Operating Revenue: 0.5% • Job Works: 0.4%

PROS

  • Company is almost debt free
  • Company generates healthy free cash flow

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • Recent results are weak - TTM profit is down 20.7% versus prior year
  • A large part of profit comes from other income (31.8% of PBT)
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.53x)

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

Peer comparison

EDIT COLUMNS
Capital GoodsAutomobile & AncillariesAutomobiles-Tractors
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.ESCORTS3058.0524.7434212.781.67385.93-97.243207.5528.3016.0811.05
2.VSTTILLERS4447.7035.333848.490.5648.439.52313.4010.9612.7412.76
3.INDOFARM137.4526.51660.470.0056.57941.041102.431045.257.7613.12
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023
246
214
Operating Profit
—
OPM %
—
Other Income
18
Interest
1
Depreciation
7
43
Tax %
22.54%
Net Profit
0
38
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Sep 2023
279
235
Operating Profit
—
OPM %
—
Other Income
14
Interest
0
Depreciation
7
50
Tax %
26.60%
Net Profit
0
42
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Dec 2023
170
160
Operating Profit
—
OPM %
—
Other Income
18
Interest
1
Depreciation
7
20
Tax %
16.63%
Net Profit
0
20
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Mar 2024
273
234
Operating Profit
—
OPM %
—
Other Income
10
Interest
1
Depreciation
7
43
Tax %
18.38%
Net Profit
0
40
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Jun 2024
191
177
Operating Profit
—
OPM %
—
Other Income
21
Interest
1
Depreciation
6
28
Tax %
18.22%
Net Profit
22
26
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Sep 2024
283
246
Operating Profit
—
OPM %
—
Other Income
27
Interest
1
Depreciation
6
58
Tax %
21.59%
Net Profit
45
52
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Dec 2024
219
200
Operating Profit
—
OPM %
—
Other Income
-9
Interest
0
Depreciation
6
4
Tax %
60.42%
Net Profit
1
1
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Mar 2025
301
261
Operating Profit
—
OPM %
—
Other Income
-1
Interest
0
Depreciation
6
33
Tax %
23.49%
Net Profit
24
28
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Jun 2025
282
245
Operating Profit
—
OPM %
—
Other Income
26
Interest
0
Depreciation
6
57
Tax %
21.27%
Net Profit
44
51
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Sep 2025
315
274
Operating Profit
—
OPM %
—
Other Income
3
Interest
1
Depreciation
6
37
Tax %
30.35%
Net Profit
25
29
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Dec 2025
314
274
Operating Profit
—
OPM %
—
Other Income
7
Interest
1
Depreciation
6
41
Tax %
24.76%
Net Profit
30
35
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Mar 2026
328
282
Operating Profit
—
OPM %
—
Other Income
-31
Interest
0
Depreciation
6
9
Tax %
40.63%
Net Profit
5
6
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Jun 2026
313
279
Operating Profit
—
OPM %
—
Other Income
28
Interest
0
Depreciation
5
62
Tax %
22.13%
Net Profit
48
6
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
9
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023
1,006
879
Operating Profit
153
OPM %
15
Other Income
25
Interest
2
Depreciation
27
124
Tax %
25
Net Profit
92
EPS
107
Dividend Payout %
23
Minority Interest
0
Share of Associates
0
Adjusted EPS
107
Minority Interest
0
Share of Associates
0
Adjusted EPS
107
Mar 2024
968
843
Operating Profit
185
OPM %
19
Other Income
61
Interest
3
Depreciation
27
155
Tax %
22
Net Profit
121
EPS
140
Dividend Payout %
14
Minority Interest
0
Share of Associates
0
Adjusted EPS
140
Minority Interest
0
Share of Associates
0
Adjusted EPS
140
Mar 2025
995
883
Operating Profit
150
OPM %
15
Other Income
38
Interest
2
Depreciation
25
120
Tax %
23
Net Profit
93
EPS
108
Dividend Payout %
19
Minority Interest
0
Share of Associates
0
Adjusted EPS
108
Minority Interest
0
Share of Associates
0
Adjusted EPS
108
TTM
1,271
1,108
Operating Profit
—
OPM %
—
Other Income
7
Interest
2
Depreciation
25
148
Tax %
26
Net Profit
110
EPS
—
Dividend Payout %
—
Minority Interest
0
Share of Associates
-1
Adjusted EPS
—
Minority Interest
0
Share of Associates
-1
Adjusted EPS
—

COMPOUNDED SALES GROWTH

10 Years:
—
5 Years:
—
3 Years:
—

COMPOUNDED PROFIT GROWTH

10 Years:
—
5 Years:
—
3 Years:
—

STOCK PRICE CAGR

10 Years:
9%
5 Years:
11%
3 Years:
13%
1 Year:
-16%

RETURN ON EQUITY

10 Years:
—
5 Years:
—
3 Years:
12%
Last Year:
10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2025

Sep 3

₹ 2

Rs.20.0000 per share(200%)Final Dividend

2024

Sep 12

₹ 2

Rs.20.0000 per share(200%)Final Dividend

2023

Aug 25

₹ 2.50

Rs.25.0000 per share(250%)Final Dividend

2022

Aug 11

₹ 2

Rs.20.0000 per share(200%)Final Dividend

2021

Aug 18

₹ 2

Rs.20.0000 per share(200%)Final Dividend

2018

Aug 2

₹ 3.50

Rs.35.0000 per share(350%)Special Dividend

2018

Aug 2

₹ 1.50

2017

Aug 3

₹ 1.50

Rs.15.0000 per share(150%)Dividend

2016

Mar 21

₹ 1.50

Interim Dividend

2020

Mar 17

₹ 1.50

Rs.15.0000 per share(150%)Interim Dividend

2026

May 15

₹ 2.50

Rs.25.0000 per share(250%)Final Dividend

Mar 2023
Equity Capital
9
816
Trade Payables
131
136
Total Liabilities
1,091
240
Capital Work in Progress
14
430
108
0
Cash & Bank
28
271
Total Assets
1,091
Total Debt
0
Net Working Capital
554
Contingent Liabilities
81
Book Value per Share
954.28
Face Value
10.00
Total Debt
0
Net Working Capital
554
Contingent Liabilities
81
Book Value per Share
954.28
Face Value
10.00
Mar 2024
Equity Capital
9
915
Trade Payables
99
145
Total Liabilities
1,167
228
Capital Work in Progress
5
484
118
155
Cash & Bank
47
130
Total Assets
1,167
Total Debt
0
Net Working Capital
674
Contingent Liabilities
126
Book Value per Share
1068.77
Face Value
10.00
Total Debt
0
Net Working Capital
674
Contingent Liabilities
126
Book Value per Share
1068.77
Face Value
10.00
Mar 2025
Equity Capital
9
990
Trade Payables
99
168
Total Liabilities
1,265
219
Capital Work in Progress
10
523
101
206
Cash & Bank
75
132
Total Assets
1,265
Total Debt
0
Net Working Capital
766
Contingent Liabilities
147
Book Value per Share
1155.59
Face Value
10.00
Total Debt
0
Net Working Capital
766
Contingent Liabilities
147
Book Value per Share
1155.59
Face Value
10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023
36
Cash from Investing
-32
Cash from Financing
-19
-14
Free Cash Flow
36
OCF / Net Profit
0.39
Cumulative 5-Year FCF
0
OCF / Net Profit
0.39
Cumulative 5-Year FCF
0
Mar 2024
49
Cash from Investing
9
Cash from Financing
-25
33
Free Cash Flow
42
OCF / Net Profit
0.40
Cumulative 5-Year FCF
0
OCF / Net Profit
0.40
Cumulative 5-Year FCF
0
Mar 2025
77
Cash from Investing
-29
Cash from Financing
-20
27
Free Cash Flow
57
OCF / Net Profit
0.82
Cumulative 5-Year FCF
0
OCF / Net Profit
0.82
Cumulative 5-Year FCF
0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023
EPS (₹)
106.90
Book Value (₹)
954.28
Dividend per Share (₹)
25.00
Cash EPS (₹)
138.09
Operating Margin %
14.56%
Net Margin %
8.80%
ROE %
11.20%
ROCE %
15.27%
8.47%
Debtor Days
52
Inventory Days
38
Payable Days
68
22
Debt to Equity (x)
0.00x
Interest Coverage (x)
64.36x
3.56x
Revenue Growth %
0.00%
Operating Profit Growth %
0.00%
Net Profit Growth %
0.00%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
140.13
Book Value (₹)
1068.77
Dividend per Share (₹)
20.00
Cash EPS (₹)
171.39
Operating Margin %
12.26%
Net Margin %
11.91%
ROE %
13.85%
ROCE %
18.05%
10.72%
Debtor Days
55
Inventory Days
41
Payable Days
64
31
Debt to Equity (x)
0.00x
Interest Coverage (x)
60.85x
4.60x
Revenue Growth %
-3.81%
Operating Profit Growth %
21.18%
Net Profit Growth %
31.08%
31.08%
P/E (x)
23.18x
P/B (x)
3.04x
Dividend Yield %
0.62%
14.90x
Mar 2025
EPS (₹)
107.56
Book Value (₹)
1155.59
Dividend per Share (₹)
20.00
Cash EPS (₹)
137.03
Operating Margin %
10.60%
Net Margin %
8.85%
ROE %
9.67%
ROCE %
12.74%
7.64%
Debtor Days
63
Inventory Days
38
Payable Days
53
48
Debt to Equity (x)
0.00x
Interest Coverage (x)
55.14x
4.77x
Revenue Growth %
2.74%
Operating Profit Growth %
-19.20%
Net Profit Growth %
-23.21%
-23.25%
P/E (x)
36.06x
P/B (x)
3.36x
Dividend Yield %
0.52%
21.90x

Shareholding Pattern

Numbers in percentages

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

Documents

Announcements

Annual Reports

Credit Ratings

  • Credit Rating

    2026-07-30 - V.S.T Tillers Tractors Limited has informed the Exchange about Credit Rating

Concalls