VST Tillers drops as Q4 PAT slips 13% YoY to Rs 35 cr

VST Tillers Tractors slipped 4.55% to Rs 3,275.05 after the company's consolidated net profit declined 13.45% to Rs 34.75 crore in Q4 FY24 as compared with Rs 40.15 crore reported in Q4 FY23.

Revenue from operations dropped 15.24% year on year to Rs 273.44 crore in the quarter ended 31 March 2024.

Profit before tax in Q4 FY24 was at Rs 42.66 crore, down 18.87% as against Rs 52.58 crore posted in Q4 FY23.

EBITDA stood at Rs 50.22 crore in the March quarter, registering a decline of 16% from Rs 59.78 crore recorded in Q4 FY24. EBITDA margin reduced to 17.69% in Q4 FY24 as compared to 18.23% registered in the corresponding quarter previous year.

On full year basis, the company's consolidated net profit jumped 31.06% to Rs 121.06 crore despite of 3.81% decline in revenue to Rs 968.05 crore in FY24 over FY23.

The company stated that it was able to maintain healthy growth in profitability and cash generation despite the adverse monsoon during the last season in the key markets.

Meanwhile, the firms board has recommended a final dividend of Rs 20 per equity share for the financial year ended 31 March 2024.

VST Tillers Tractors is engaged in the business of manufacture of Power Tillers and Diesel Engines.

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