VST Tillers - Stable Performance, On Well Charted Growth Path: ICICI Direct

A tractor operates at a blue agave plantation. (Photographer: Brendon Thorne/Bloomberg)

VST Tillers - Stable Performance, On Well Charted Growth Path: ICICI Direct


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

VST Tillers Tractors Ltd. reported a stable operational performance in Q4 FY21.

Net sales for the quarter came in at Rs 195 crore, down 4% QoQ.

Adjusted Ebitda in Q4 FY21 was at Rs 23 crore with corresponding Ebitda margins at 12.0%, down 270 basis points QoQ.

Ebitda is adjusted for one-time provision of ~Rs 13.5 crore for Voluntary Separation Scheme for its employees at Bengaluru plant as well as ~Rs 2 crore write-off in other expenses.

Adjusted profit after tax in Q4 FY21 was at Rs 28 crore, down 8% QoQ.

The company declared a dividend of Rs 20 per share for FY21.

Click on the attachment to read the full report:

ICICI Direct VST Tillers Company Update.pdf


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