Here is why VST Tillers fell sharply today

01 Jan 2024, 9:21 am

by vst_admin

Here is why VST Tillers fell sharply today

The company’s Power Tillers’ sales fell a whopping 50 per cent to 2,039 units in December, as compared to 4,043 units in December 2022.

VST Tillers Tractors December sales fall | Image: VST Tillers Tractors

Shares of VST Tillers Tractors nosedived after the company announced nearly 47 per cent drop in total sales to 2,434 units, from 4,559 units in December 2022.

The shares dropped as much as 2.30 per cent to hit an intraday low of Rs 3,690.55 per share.

The company’s Power Tillers’ sales fell a whopping 50 per cent to 2,039 units in December, as compared to 4,043 units in December 2022.

Farm equipment maker’s tractor sales dropped over 23 per cent annually to 395 units, from 516 units in December 2022.

Shares of the company climbed 59 per cent in 2023, outperforming the S&P BSE SmallCap index, which climbed about 48 per cent during the same period.

Financial performance

VST Tillers Tractors Ltd achieved a remarkable 60 per cent growth in profits during the September quarter, on the back of increased sales. The company reported a profit of Rs 36.5 crore, compared to Rs 22.74 crore in the same period last year

The revenue for the September quarter stood at Rs 278.5 crore, up from Rs 234.2 crore in the previous year.

VST Tillers’ Earnings Before Interest, Taxes, Depreciation & Amortisation (EBITDA) came in at Rs 57 crore, representing 19.50 per cent of the revenue.

Notably, VST Tillers Tractors Ltd has demonstrated a commendable 54 per cent growth in tractor exports during H1 FY24.

As of 2:35 pm, shares of VST Tillers were trading nearly 2 per cent lower at Rs 3,703.45, according to BSE.