Tag: Antony Cherukara

VST Tillers Q2: Company expects better H2; aims to achieve revenue of Rs 3,000 crore by FY25

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

VST Tillers reported its Q2FY22 earnings results. Antony Cherukara, CEO of the company, discussed the earnings’ fineprint.

“We are expecting a better H2,” he said in an interview with CNBC-TV18.

October had been slow; the company expected a better festival season. However, with reservoirs being full and the minimum support prices (MSPs) seeing an increase, cashflows into farmers’ hands will definitely help the market rise, he said.

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“All the key demand drivers for H2 look positive. Whether it is the reservoir levels or whether it is the MSP or about the stability in terms of inflation, it is looking a little more stable than what it was in H1, so we are expecting a much better H2 this year,” he said.

It is the mission of the company to achieve Rs 3,000 crore of revenues by FY25, he said.

The company plans to achieve 20-30 percent growth in the tiller business and 10-15 percent growth in the tractor business.

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The company had taken some price increases in Q2FY22. However, the entire commodity price inflation could not be passed on to the consumers. So, the company had to do a lot of better cost management to maintain its margins, he noted.

“We did the price increase of about 3-4 percent in Q2FY22, the commodity inflation was at about 6-8 percent. So there is a gap of about 3-4 percent. That we could cover up through better cost management,” he said.

For the full interview, watch the accompanying video.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tractor sales likely to grow 15% in FY21; farm mechanization to aid demand, says VST Tillers Tractors

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Better agricultural produce and festive season have led to a rising demand for tractors and farm equipment. VST Tillers Tractors has reported significant improvement in sales in the September quarter and expects demand to remain higher going ahead.

Speaking to CNBC-TV18, Antony Cherukara, CEO, VST Tillers Tractors, while giving a positive outlook for November, said that the increase in farm mechanization also aided demand.

“We see the uptick in demand continuing mainly because of the festival season and the procurement of produce has been good so far. So I think the uptick will continue into November,” he added.

Cherukara expects 12-15 percent growth in tractor sales and more than 20 percent growth in tillers business for FY21.

“We are waiting for how the procurement will play out in Q4. This is going to be critical because there have been good cashflow in rural India in Q2 and Q3 and that visibility is not clear at the moment for Q4,” Cherukara said.

Watch the video for the full interview.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow