VST Tillers Tractors Registers Remarkable 19% Revenue Growth in Q2 FY24

Bengaluru, 7th November 2023: VST Tillers Tractors Limited (VST), India’s leading farm equipment manufacturer, today announced their Quarter 2 results for the financial year 2023-24.

VST reported a turnover of Rs. 278.51 crores during Q2 FY 24. The company’s earnings before interest, taxes, depreciation & amortization (EBITDA) stood at Rs 57.02 crore for Quarter 2, which is 19.50 % of revenue. In Last year Q2, EBITDA margin was 16.73%.

Year-to-date basis, VST has achieved a turnover of Rs 524.65 Crore compared to Rs 470.13 Crore during the corresponding half-year of last financial year, an increase of 11.60%. Net profit stood at Rs 69.44 crore for YTD Sept 23 compared to Rs.32.79 crore YTD Sept 22 with a growth of 112%.

In October 2023, VST reported that combined sales of power tillers and tractors reached 1509 units, down from the 1842 units sold in October 2022. This represents a decline of 333 units in YoY sales.

Year-to-date data for 2023 shows an overall growth in sales. In 2023, year-to-date sales of both power tillers and tractors amounted to 24287, compared to 23197 units during the same period in 2022.

The company has also registered growth of 54% in the export of tractors for H1 FY24. In the domestic market, VST has launched series 9 models in this quarter which is receiving a good response from the market.