VST Tillers Tractors – Agro Growth

Two recent updates/ news articles on VST Tractors & Tillers

  1. VST forays into mini tractors – LINK
  2. VST to roll out mini tractors for small farmers – LINK 

This is interesting news for followers/ investors in this firm.
Punit Jain

JainMatrix Investments


  • Date 4th Mar 2014,
  • CMP: Rs 825
  • Small Cap – Mkt Cap 716 crores
  • Advice: Buy

Here is a note on VSTT (VST Tillers and Tractors Ltd).

Business Overview

  • VSTT is an agriculture equipment manufacturing firm with products like tractors, power tillers and rice planters.
  • Its turnover in FY2013 was 482 crores, with profits at 49 cr. Market Cap. today is 716 cr, at CMP 825.
  • The mfg plant is at Whitefield, Bangalore for all 3 products with capacities of tractors (5k), tillers (25k) and engines (32k). It has commissioned a new tractor plant in Hosur, TN with capacity of 36k tractors. (k=1000)
  • VSTT has tie ups with several companies of Mitsubishi of Japan for tractors, tillers and diesel engines.
  • The Sales numbers in FY13 were tractors (6,233), power tillers (21,231) and rice planters (404).
  • Products are also exported – Forex revenues in FY13 were 16 cr., while…

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