VST Tillers Tractors Ltd. Records Impressive 65% Growth in Net Profit in the Nine Months of FY24

Bengaluru, 2 February’ 2024: VST Tillers Tractors Limited (VST), India’s leading farm equipment manufacturer, announced their Quarter 3 and Nine-month results for the financial year 2023-24.

For Nine months, VST has achieved a turnover of Rs 694.61 Crore compared to Rs 683.82 Crore during the corresponding period of the previous financial year, an increase of 1.60%. Earnings before interest, taxes, depreciation & amortization (EBIDTA) rose by 45% to Rs 134.5 Cr compared to Rs 92.4 Cr during the same nine-month period of the previous year. Net profit stood at Rs 86.39 crore for YTD Dec 23 compared to Rs.52.22 crore YTD Dec 22 with a growth of 65%.

For the quarter, VST reported a turnover of Rs. 169.96 crores. The company’s earnings before interest, taxes, depreciation & amortization (EBITDA) stood at Rs 27.70 crore for Quarter 3, which is 14.7 % of total revenue. In the previous year Q3, the EBITDA margin was 14.6%.

The company has also registered growth of 38% in the export of tractors for nine months of FY24. The joint venture entity, VST Zetor Pvt Ltd., between the company and HTC Investments a.s (owner of the brand “Zetor”) commenced operations in the quarter. 

VST Tillers Tractors Month Wise Sales in FY'24

About VST Tillers Tractors

VST Tillers Tractors Limited (VST) is India’s leading farm equipment manufacturer. VST was established in the year 1967 by the VST Group of companies. With a legacy of more than 55 years, VST continues to drive farm mechanization and empowerment of Indian farmers. The organization is the largest Indian manufacturer of Tillers, and 4WD Compact Tractors, and amongst the leading producers of the other category of Tractors, Engines, Transmission, Power Reaper, and Precision Components. VST also exports products to European, Asian, and African markets.