VST Tillers Tractors Ltd logo

VST Tillers Tractors Ltd

VSTTILLERS NSE

Key Fundamentals

MicrocapTractorsAutomobiles
Market Cap
₹3,910 Cr
Volatility
Moderate
P/E Ratio
36.6
EBITDA
₹165 Cr
Return on Equity
9.28%
Debt to Equity
0
Book Value
₹1,264.48
EPS
₹127.95
52W High
₹6,374
52W Low
₹4,275

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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39 extracted metrics + investor summaries across FY15–FY27.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 17.6%

Weaknesses

4
  • Stock is trading at 3.54 times its book value
  • The company has delivered a poor sales growth of 10.2% over past five years.
  • Company has a low return on equity of 11.0% over last 3 years.
  • Working capital days have increased from 131 days to 245 days

Growth Rate

Revenue Growth
20.09% ↗
Net Income Growth
10.29% ↗
Cash Flow Change
57.48% ↗
ROE
-29.21% ↗
ROCE
-28.21% ↗
EBITDA Margin (Avg.)
-8.51% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 32d ago
AI opinion · based on fundamentals
Risk medium

VST Tillers Tractors Ltd is a nearly debt-free industrials company with a market cap of ₹3,917 Cr trading at a PE of 37.6x and PB of 3.6x. TTM sales growth has accelerated to 25% but longer-term profit compounding remains modest at 3-5% over 5 years, while working capital days have nearly doubled from 131 to 245 days.

Bull Case 7
  • Company is almost debt free, providing significant financial flexibility and low interest burden
  • TTM sales growth has accelerated sharply to 25%, well above the 5-year CAGR of 10%
  • TTM profit growth of 15% shows meaningful earnings recovery versus the 5-year profit CAGR of just 3%
  • Stock has delivered 18% CAGR over 5 years, outperforming broader market indices
  • Consistent dividend payout of 17.6% with a current yield of 0.44%, reflecting shareholder-friendly capital allocation
  • 10-year compounded sales growth of 7% demonstrates long-term business continuity in a cyclical sector
  • ROE has remained stable in the 11-12% range over 3, 5, and 10-year periods, indicating predictable return generation
Bear Case 8
  • Working capital days have nearly doubled from 131 to 245 days, signalling deteriorating cash conversion and potential inventory or receivable issues
  • 5-year compounded profit growth of only 3% is significantly below sales growth of 10%, indicating margin compression
  • PE of 37.6x is elevated for a company delivering ROE of just 10-12%, suggesting limited margin of safety
  • Stock trades at 3.58x book value despite low ROE of 11% over 3 years, a premium valuation relative to returns generated
  • 5-year sales CAGR of only 10.2% reflects poor topline momentum in a sector with structural tailwinds
  • Last year ROE dropped to 10% from the 3-year average of 11% and 5-year average of 12%, showing a declining trend
  • 10-year profit CAGR of just 4% implies the business has struggled to scale earnings meaningfully over a full cycle
  • Dividend yield of 0.44% offers negligible income support at current valuations

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 32d ago
Positives 2
  • June sales up 3% YoY Jul 2

    Total sales reached 8,107 units in June 2026 vs 7,869 units in June 2025. YTD sales stood at 18,741 units.

  • Independent director reappointed Jun 18

    Dr. Nandakumar Jairam reappointed for five years with 99.94% shareholder votes in favour.

Neutral 2
  • Shareholding update after demise Jun 29

    Disclosed shareholding change following demise of joint holder V K Surendra. Total holding unchanged at 2,24,146 shares.

  • Special window for share transfer Jun 9

    Launched special window for transfer and demat of physical shares bought before April 1, 2019. Deadline is February 4, 2027.

TL;DR: VST Tillers is showing steady volume growth with a 3% YoY rise in June sales and strong corporate governance signals. No material headwinds are visible in recent news flow. The trend is stable with modest positive momentum, though investors should watch for broader rural demand and monsoon progression to sustain tractor/tiller volumes in coming quarters.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
323
246
279
170
273
191
283
219
301
282
315
314
328
Expenses
268
214
235
160
234
177
246
200
261
245
274
274
282
Operating Profit
54.55
31.71
43.11
9.54
39.83
13.38
37.79
19.55
40.37
37.5
40.9
40.7
46.82
OPM %
16.91%
12.88%
15.48%
5.61%
14.57%
7.02%
13.33%
8.92%
13.39%
13.28%
12.98%
12.95%
14.25%
Other Income
5.23
18.12
13.91
18.16
10.39
21.32
26.76
-8.85
-0.92
25.89
2.64
7.02
-31.2
Interest
0.3
0.56
0.48
0.59
0.52
0.51
0.56
0.48
0.41
0.38
0.57
0.51
0.45
Depreciation
6.9
6.68
6.88
6.78
6.67
6.25
6.46
6.38
6.39
6.41
6.46
6.38
6.26
PBT
52.58
42.59
49.66
20.33
43.03
27.94
57.53
3.84
32.65
56.6
36.51
40.83
8.91
Tax %
23.64%
22.54%
26.6%
16.63%
18.38%
18.22%
21.9%
55.73%
23.49%
21.27%
30.35%
24.76%
40.63%
Net Profit
40.15
32.99
36.45
16.95
35.12
22.85
44.93
1.7
24.98
44.56
25.43
30.72
5.29
EPS in Rs
46.47
38.19
42.19
19.62
40.65
26.45
52.01
1.97
28.9
51.55
29.42
35.54
6.11
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
552
647
675
763
615
544
764
854
1,006
968
995
1,240
Expenses
451
534
574
644
560
514
670
729
878
843
883
1,074
Operating Profit
100
113
101
120
55
30
95
125
128
125
111
166
OPM %
18%
17%
15%
16%
9%
6%
12%
15%
13%
13%
11%
13%
Other Income
12
12
29
45
35
11
46
34
25
60
38
4
Interest
2
3
3
2
2
2
4
2
2
3
2
2
Depreciation
9
13
12
11
16
16
17
25
27
27
25
26
PBT
101
110
116
152
72
23
119
132
124
156
122
143
Tax %
31%
33%
29%
26%
36%
22%
24%
25%
25%
22%
23%
26%
Net Profit
70
74
83
112
46
18
91
99
92
122
94
106
EPS in Rs
80.47
85.8
95.73
130
53.31
20.85
105
115
107
141
109
123
Div. Payout %
19%
17%
16%
39%
28%
72%
19%
17%
23%
14%
18%
20%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
9
9
9
9
9
9
9
9
9
9
9
9
Reserves
355
411
491
588
581
568
659
741
816
915
995
1,089
Borrowings
0
0
0
0
0
0
0
0
2
1
2
2
Other Liabilities
109
113
131
189
158
152
218
217
264
242
261
248
Total Liabilities
472
533
631
786
748
729
885
966
1,091
1,167
1,267
1,347
Fixed Assets
135
127
147
158
206
206
248
266
261
250
240
232
CWIP
2
3
10
57
35
48
25
12
14
5
10
18
Investments
95
136
188
204
165
156
312
414
430
484
525
634
Other Assets
240
267
286
367
343
318
300
275
385
428
492
464
Total Assets
472
533
631
786
748
729
885
966
1,091
1,167
1,267
1,347
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
26
85
86
33
43
72
155
125
36
49
77
132
Investing
-13
-43
-75
-36
11
-33
-148
-110
-32
9
-29
-136
Financing
-17
-34
-3
-17
-54
-33
-2
-19
-19
-24
-20
-20
Net Cash Flow
-4
9
9
-19
0
7
6
-4
-14
33
28
-24
Free Cash Flow
-4
77
54
-34
-2
38
127
96
12
41
56
105
CFO/OP
57
110
122
57
141
274
191
128
52
63
88
100
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
62
70
71
89
57
65
39
29
54
58
75
51
Inventory Days
102
70
58
58
111
100
77
64
56
65
54
53
Days Payable
17
28
30
46
31
57
60
52
68
55
53
43
Cash Conversion Cycle
148
112
100
101
137
108
56
41
42
69
76
60
Working Capital Days
95
89
86
94
124
113
41
27
50
72
76
245
ROCE %
30%
29%
24%
26%
14%
6%
20%
19%
16%
18%
13%
14%

Shareholding Pattern

As of Jun 2026
Promoters 55.55%
DIIs 19.96%
Public 18.91%
Others 4.37%
FIIs 1.21%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
54.77%
54.77%
54.77%
54.82%
54.82%
54.82%
55.57%
55.57%
55.57%
55.57%
55.57%
55.57%
55.63%
55.63%
55.63%
55.63%
55.63%
55.61%
55.61%
55.61%
55.61%
55.55%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
2.07%
2.02%
1.89%
2.80%
2.89%
2.67%
2.48%
1.41%
1.76%
1.61%
1.84%
1.21%
DIIs
12.16%
13.26%
14.57%
15.00%
15.64%
16.19%
16.06%
19.74%
19.80%
18.98%
17.24%
16.61%
16.87%
17.97%
19.11%
20.47%
20.72%
21.72%
21.41%
20.60%
19.61%
19.96%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
24.03%
23.88%
22.82%
22.08%
21.50%
21.17%
20.32%
19.96%
20.04%
20.48%
20.75%
21.32%
20.83%
20.12%
19.08%
18.25%
18.15%
18.23%
17.32%
18.02%
18.46%
18.91%
Others
9.04%
8.09%
7.84%
8.10%
8.04%
7.82%
8.04%
4.73%
4.59%
4.97%
4.37%
4.48%
4.78%
3.47%
3.29%
2.97%
3.03%
3.03%
3.90%
4.16%
4.47%
4.37%
No. of Shareholders
20,379
22,687
21,106
22,205
20,682
20,877
21,707
21,604
23,730
23,923
25,456
26,121
26,855
25,190
24,066
23,321
24,104
20,243
21,237
22,694
24,076
24,293

Documents

Frequently Asked Questions about VST Tillers Tractors Ltd

What does VST Tillers Tractors Ltd do?
VST Tillers Tractors Ltd. was established in the year 1967 by the VST Group of companies, a well-known century-old business house in South India. The founder of the group was Sri V.S. Thiruvengadaswamy Mudaliar. VST Tillers Tractors Ltd. was promoted by VST Motors as a joint venture since 1966 w...
Where is VST Tillers Tractors Ltd (VSTTILLERS) listed?
VST Tillers Tractors Ltd is listed on the Indian stock exchanges. It is listed on NSE: VSTTILLERS and BSE: 531266. You can view its live share price, financials, and ratios on Tapetide.
Which sector does VST Tillers Tractors Ltd belong to?
VST Tillers Tractors Ltd operates in the Automobiles sector within the Tractors industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of VST Tillers Tractors Ltd?
VST Tillers Tractors Ltd has a market capitalisation of approximately ₹3909.75 Cr. Based on this, it is classified as a Small Cap stock.
What is the PE ratio of VST Tillers Tractors Ltd?
The Price-to-Earnings (PE) ratio of VST Tillers Tractors Ltd is 36.60. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of VST Tillers Tractors Ltd?
Over the past 52 weeks, VST Tillers Tractors Ltd has traded between a low of ₹4,275 and a high of ₹6,374. This range helps investors understand the stock's price volatility and recent trading levels.
Does VST Tillers Tractors Ltd pay dividends?
Yes, VST Tillers Tractors Ltd has a dividend yield of 0.44%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of VST Tillers Tractors Ltd?
VST Tillers Tractors Ltd has a Return on Equity (ROE) of 9.28%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research VST Tillers Tractors Ltd on Tapetide?
On Tapetide, you can view VST Tillers Tractors Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

VST Tillers Tractors Ltd. was established in the year 1967 by the VST Group of companies, a well-known century-old business house in South India. The founder of the group was Sri V.S. Thiruvengadaswamy Mudaliar. VST Tillers Tractors Ltd. was promoted by VST Motors as a joint venture since 1966 with Mitsubishi Heavy Industries Ltd, Japan. The company is now the largest manufacturer of Power Tillers in India. All of the collaborations have expired [1] and today VST family holds 51% of the equity in the listed company that has recorded consistent growth. [2]

Website vsttractors.com
Listed 2011-06-20
Face Value ₹ 10
Issued Size 86,43,358

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