Tag: VST Tillers Tractors

VST Tillers Tractors declares dividend of ₹20, net profit dips 13% in Q4

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

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VST Tillers Tractors Ltd on Thursday (May 9) reported a 13.4% year-on-year (YoY) drop in net profit at ₹34.8 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, VST Tillers Tractors posted a net profit of ₹40.2 crore, the company said in a regulatory filing. The company’s revenue from operations dropped 15.3% to ₹273.4 crore against ₹322.6 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA slipped 27% to ₹39.8 crore in the fourth quarter of this fiscal over ₹54.5 crore in the year-ago period.

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The EBITDA margin stood at 14.6% in the reporting quarter against 16.7% in the fourth quarter of the last fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board has recommended a final dividend of ₹20 per equity share of ₹10 each, which will be paid once approved by the shareholders at the annual general meeting.

The results came after the close of the market hours. Shares of VST Tillers Tractors Ltd ended at ₹3,432.60, down by ₹1.70, or 0.049%, on the BSE.

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

VST Tillers Tractors projects 20% revenue growth for FY24 despite industry headwinds

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

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Bengaluru-based VST Tillers Tractors expects revenue growth of around 20% this year despite the challenges in the tractors business due to the deficient rainfall in certain parts of the country. The revenue growth target is based on strong growth in all other verticals.

Antony Cherukara, the Chief Executive Officer of the farm equipment maker is hopeful the growth will accelerate in the coming years if the monsoon pans out as anticipated.

“From the growth projection of 10-15%, we are looking at lower single-digit growth or flattish growth this year for tractors,” he noted. However, other segments such as power tillers will continue to grow at projected rates of 15-20%, aiding overall growth.

Also Read | VST Tillers Tractors unveils 3 new tractors at AGRITECHNICA 2023 in Germany

Cherukara retained the FY26 revenue guidance at ₹3,000 crore.

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The company reported a solid September quarter with profit at ₹36.45 crore versus ₹22.74 crore last year. The revenue grew to ₹278.51 crore from ₹234.15 crore. The EBITDA (earnings before interest, tax, depreciation, and amortisation) margin improved to 19.5% from 16.7% in the corresponding quarter last year.

Shares of the company have gained nearly 11% over the past month compared to Nifty 50 gains of a little over 1%.

VST Tillers Tractors has a market capitalisation of ₹3,458 crore and competes with companies such as Escorts Kubota and HMT.

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VST Tillers Tractors unveils 3 new tractors at AGRITECHNICA 2023 in Germany

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

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Farm equipment manufacturer VST Tillers Tractors Ltd on Wednesday (November 15) unveiled three new tractors, including its indigenously-developed electric tractor, at AGRITECHNICA 2023 in Hanover, Germany.

The company showcased these innovative machines under the FIELDTRAC brand, according to a stock exchange filing.

The three products — 929 EV, 932 DI with Stage V engine, and 929 with HST transmission — are on display at AGRITECHNICA, the seven-day exhibition that commenced on November 12, 2023. VST Tillers Tractors has also showcased its state-of-the-art Stage V engine (24.5hp).

929 EV is the outcome of thorough research and testing by the company’s R&D team for the past three years. VST has been already supplying EV solutions for agricultural machines and drivetrains for electric tractors to leading farm equipment manufacturers in the US.

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The company introduced six tractor models under Series 9 as the most advanced compact range in August this year. In October 2023, the VST-ZETOR brand came into existence and the new feature-loaded higher HP tractors will soon be available in the Indian market.

VST FIELDTRAC 929 EV is equipped with a 25kWH battery, and its motor delivers a maximum torque of 110 Nm. VST 929 EV is a feature-filled non-polluting tractor that is equipped with dual-acting power steering and superior styling. The tractor comes with a lift capacity of 1250 kg.

VST 932 DI Stage V TechnoCompact tractor is a three-cylinder engine in the 32 HP category that gives a maximum torque of 109.4n.m and offers best-in-class power and torque in its segment. VST 932 DI Stage V is capable of handling a wide range of applications and can be used with a range of attachments.

FIELDTRAC 929 HST with loader is specially designed for smaller operations of landscaping, keeping in mind flexibility and ease of operation, better control on steering to ensure more comfort. The HST tractor comes with a power-packed four-cylinder Stage-V 1306 cc engine that gives 72.2 nm torque.

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Antony Cherukara, CEO of VST Tillers Tractors, said AGRITECHNICA is of strategic importance for VST as the company is showcasing its technical prowess and feature-filled products to the world.

AGRITECHNICA is the world’s leading trade fair for agricultural machinery. All agricultural machinery companies that operate globally are represented at the venue in Hanover.

Shares of VST Tillers Tractors Ltd ended at ₹3,798.00, up by ₹71.35, or 1.91%, on the BSE.

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

VST Tillers Tractors shares jump as much as 13% to a record high – Here’s why

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

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Shares of VST Tillers Tractors Ltd. gained as much as 13 percent on Friday to hit an all-time high of Rs 3,790 after the company announced a pact with a US-based firm to jointly develop electric power tillers and agriculture machinery.

The company informed bourses that it has entered into a master service agreement with US-based Solectrac Inc. to jointly develop electric power tiller and other agricultural machinery.

VST Tillers Tractors manufactures agricultural multipurpose power tillers and tractors in India. It has three manufacturing plants and 380 dealerships across the country. The company has a presence across 40 countries.

Earlier this month, VST Tillers Tractors announced the launch of Series 9 tractors in the range of 18.5HP to 36HP in India.

Soletrac is the leading electric tractor manufacturers in the United States. The company has experience of 26 years in designing and engineering electric tractors.

No details on the quantum of the agreement or monetary contribution have been shared.

VST Tillers is optimistic on the growth trends. The company said that its tractor segment is looking at a 10-15 percent growth, while the power tillers business is looking at a 15-20 percent growth.

The management also maintained its margin guidance of 11-13 percent for financial year 2024. It has over 75 percent market share in India for power tillers.

VST Tillers Tractors reported a turnover of Rs 246 crore during the first quarter of financial year 2024, which was the highest ever revenue for the company in a June quarter.

Shares of VST Tillers are trading 10.2 percent higher at Rs 3,664.05. The stock has gained nearly 60 percent so far on a year-to-date basis.

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

VST launches Series 9 compact tractors with segment-first features

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

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Homegrown farm equipment manufacturer VST Tillers Tractors Ltd on Wednesday launched a new series of compact tractors in India, designed and developed at its Hosur plant in Tamil Nadu. The Series 9 range, which consists of six models from 18 HP to 36 HP, is designed to meet the growing needs of farm mechanisation in various crops and fields.

The new tractors, which are named starting with “9”, are VST 918 (18.5 HP), VST 922 (22 HP), VST 927 (24 HP), VST 929 (28 HP), VST 932 (30 HP), and VST 939 (36 HP). They are available from this month onwards at VST’s dealerships across the country.

Antony Cherukara, CEO of VST Tillers Tractors Ltd, in a statement, said that the Series 9 range is the most advanced and versatile tractor offering in its segment and is developed to deliver a winning formula of “Extra Power – Extra Saving- Extra Comfort” for better earnings for Indian farmers. He added that VST will soon launch a premium series of VST-Zetor tractors to offer a wide range of products to farmers and business associates.

VST claims that its new Series 9 tractors have several firsts in the industry features, such as independent Power Take Off (PTO), MID PTO, Reverse PTO, fully Synchromesh Gearbox, Electro-Hydraulic Controls (EHC) and Dual Track width option with selective models. The tractors are also equipped with best-in-Class Engines delivering best-in-class power, torque, and mileage.

According to the company, the Series 9 tractors have a state-of-the-art design and optimal dimensions, making them lightweight. They come equipped with projector headlamps, a heat protector shield, a new-generation instrument cluster, a deluxe seat, and a short turning radius. These new tractors can be used with various implements such as tillers, rotavators, MB ploughs, ridge, duck foot cultivators, sprayers, loaders, haulage, thresher, genset and many more.

VST Tillers Tractors, which was established in 1967 by the VST Group of companies, commands a leadership position in power tillers with more than 70 percent market share and also produces other categories of tractors, engines, transmission, power reaper, and precision components. VST exports its products to European, Asian, and African markets under the ‘FIELDTRAC’ brand name.

The company crossed the milestone of Rs 1,000 crore in revenue during FY23 and plans to become a Rs 3,000 crore global brand in diversified farm mechanisation products and solutions by 2026, as per their 5X Vision.

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VST Tillers set to launch utility tractors as compact ones show moderate growth

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

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VST Tillers Tractors, one of India’s leading tractor manufacturers, is all set to launch its new utility tractors in quarter one of FY24.

In an interview with CNBC-TV18, Antony Cherukara, CEO of VST Tillers Tractors said that the company has not seen any growth in the compact tractor space, and therefore, the focus is now on the larger horsepower tractors.

“We are on the verge of launching utility tractors with our joint collaboration with Zetor, which should be launched in the first quarter of the coming financial year. With this we will be entering into the larger horsepower space,” he said.

“We have not seen growth in the compact tractor space,” he added.

He further mentioned that the company is expanding its product line by entering the larger horsepower tractor space.

With a current capacity of nearly 30,000 tractors, VST Tillers Tractors is confident that its capacity will be sufficient for the next two years. However, the CEO did mention that the new launches have been delayed, which could impact the company’s growth this year.

“There was a delay in couple of product launches that we had planned but we expect to end flat this year because the international business has grown while the domestic business has shown a little decline,” he mentioned.

Also Read | VST Tillers closes 4% lower as Q3 PAT drops 7%

Despite the delay in new launches, Cherukara expects the demand drivers to remain strong in the near term.

“The demand is likely to continue, in the near-term all the demand drivers look good. But there is the talk about El Nino and how it plays out during the coming monsoon,” he said.

He highlighted that how El Nino plays out is important, but the company is well-positioned to achieve growth of 15-20 percent in the power tillers segment.

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When asked about the company’s performance this year, the CEO said that they expect to end flat. However, the focus is on the long term, and the company is confident that its new launches will drive growth in the coming years.

VST Tillers Tractors has been in the tractor business for over five decades and has a strong presence in the southern and western regions of India. The company is known for its power tillers, which are used extensively in farming and gardening. With the launch of utility tractors, VST Tillers Tractors is expected to expand its market share in the tractor industry.

The stock has remained flat over the last week and has declined over 5 percent in the past month.

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

VST Tillers closes 4% lower as Q3 PAT drops 7%

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

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Power tillers and tractors manufacturer VST Tiller Tractors Ltd stock closed nearly 4 percent lower on Friday after the company reported weak results year-on-year for the quarter ended December 31, 2022. The company’s net profit dropped 7.6 percent YoY to Rs 19.4 crore from Rs 21 crore in the same quarter a year ago, despite the revenue increasing marginally. PAT declined even more sequentially, falling 14.55 percent from Rs 22.74 reported in the September quarter of current financial year.

The tractor manufacturer’s revenue from operations stood at Rs 213.69 crore, a marginal increase of 2.51 percent YoY as against Rs 208.44 crore reported in Q3FY22. However, the revenue slipped sequentially 8.73 percent from Rs 234.15 crore in Q2FY23.

On the operational side, the company’s EBITDA stood at Rs 23.2 crore for Q3FY23, witnessing a decline of 23.2 percent from Rs 30.2 crore in the year-ago period. Operating margins declined by 360 basis points from 14.5 percent in Q3FY22 to 10.9 percent in Q3FY23.

VST Tillers Tractors Ltd is a leading manufacturer of compact four wheel drive tractors. The product portfolio of the company includes tillers, tractors and diesel engines.

The company’s share closed 3.5 percent lower at Rs 2253.90 apiece on BSE on Friday.

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

VST Tillers bets on festive season for sales growth

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

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VST Tillers Tractors posted a mixed set of sales in September. Power tiller sales grew nearly 9 percent year-on-year (YoY) but tractor sales were under pressure, contracting over 20 percent.

Antony Cherukara, CEO of VST Tillers Tractors, expects things to pick up.

“In August, we saw the deficient rainfall and in September, we saw excess rainfall, both these conditions are not good for the standing crops. That is one reason why the tractor industry showed a decline in August and September, but with the festival season, sales picking up this month and going forward with Diwali, we expect things to be better for the tractor industry,” he said.

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The tiller segment is growing at nearly 20 percent and he expects that to continue.

In terms of growth for the entire year, he stated, “The first half of the year for the tractor sector has remained flat because two bad months of August and September, but we are expecting that to pick up in the second half. So, looking at about 10-15 percent projections for the tractors and upwards of 20 percent for the tiller segment.”

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The company has entered into a product development agreement with Czech-based company Zetor Tractors.

“Next financial year we will be launching those tractors. It is with a company called Zetor Tractors from Czech Republic. Zetor had an early entry in India with the SMP and that’s the same company we are talking about. They specialise in higher horsepower tractors and that’s why we have collaborated with them,” he said.

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On margins, he said iron ore and steel have gone down in terms of prices, however, the other commodities still have not gone down. “So, we are expecting that the sheet-metal and castings will show a decrease in prices and the other commodities will continue, but it’s still a bit unpredictable at the moment,” he explained.

For the full interview, watch the accompanying video.

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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

VST Tillers Tractors inks distributorship agreement with ETGL Africa; shares hit 52-week high

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

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VST Tillers Tractors shares rallied over eight percent to hit a 52-week high of Rs 2,875.65 on the BSE after the company launched the VST range of Tractors and Power Tillers in Southern Africa.

The company has entered into an agreement with ETG (Export Trading Group), for the distribution of its Tractors, Power Tillers, Power Reapers and Diesel Engines in the Southern African markets including South Africa, Namibia, Botswana, Zimbabwe, Swaziland, and Zambia.

“The objective behind the distribution model of VST Tillers Tractors in ETGL’s portfolio is to expand its offering in the industry,” VST Tillers Tractors said in an exchange filing.

The launch introduces the complete range of VST’s Tractors and Power Tillers into the South African market.

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The range extends from 18 HP (13.3 KW) 4WD to 50 HP (37.28 KW) Tractors and Small Farm Mechanisation implements like, Power Weeders, Power Reapers and Power Tillers ranging from 5 HP (3.7 KW) to 16 HP (11.8 KW), it added.

The stock price of VST Tillers Tractors rallied over 40 percent in one month and is up more than 52 percent YTD.

At 10:25 am, the shares of VST Tillers Tractors were trading 8.01 percent higher at Rs 2,856 apiece on the BSE.

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