VST Tillers' share price rose today following the company's unveiling of its first-ever electric Power Tiller and electric Power Weeder at the 9th EIMA AGRIMACH held at PUSA, New Delhi.
A normal monsoon, as predicted by the India Meteorological Department (IMD), is likely to boost farmers' income which may drive up tractor demand, analysts said
The recent dip came after VST Tillers Tractors Ltd reported a 13.4 per cent year on year (YoY) decline in net profit to Rs 34.8 crore for Q4FY24 on Thursday
The company announced its March sales data at the beginning of the month. Total sales plunged to 4,823 units in March 2024, from 6,468 units in March 2023
The company registered a rise in its YTD sales data until November 2023, which stood at 22,875 units, 6.9% more when compared to 21,393 units sold during the same period last year
Analysts believe the on-going rally across tractor stocks may face headwinds from spatial distribution of monsoon across the country, which could keep sentiments in check
The company has entered into a master service agreement with Zimeno, Inc, USA. to develop integrated tractor powertrain for the electric tractor of Zimeno
In last 16 trading days, the stock of VST Tillers has soared 52 per cent after the company reported strong set of numbers for the quarter ended June 2021
Analysts remain bullish on VST given the sweet spot of robust demand prospects, import restrictions in power tiller segment and steady improvement in margin profile
The stock slipped 14% to Rs 1,526, also its 52-week low, after the company reported a net profit of Rs 92 million in September quarter against a profit of Rs 187 million in the year-ago quarter.
The stock surged 9% to Rs 2,673, also its record high on the BSE, after the company recorded a strong sales growth of 79% at 3,615 units in the month of December 2017.
The stock surged 10% to Rs 2,285 on BSE in early morning trade after the company reported 31% growth in total sales at 3,196 units in the month of September.
