VST Tillers Q4 FY26 Revenue Up 9% to ₹328 Crore; Full Year Revenue Grows 25% to ₹1,248 Crore
V.S.T. Tillers reported a 9% revenue growth to ₹328 crore in Q4 FY26 and a 25% full-year growth to ₹1,248 crore. Power tiller sales surged 35% and domestic tractor sales grew 18.6%. Operational PAT increased by 36% in Q4. The company targets 12-14% EBITDA margins and is exploring new product launches and market expansion.
The announcement details strong financial performance, including significant revenue and profit growth, improved margins, and positive sales volumes across key product categories. It also provides insights into future strategies, product development, and market outlook, which are material to investors.
The company reported strong revenue growth for both the quarter and the full year, along with significant improvements in profitability and operational EBITDA. New product launches and positive demand outlook further contribute to the positive sentiment.
V.S.T. Tillers Tractors Ltd. held an investor/analyst conference call on May 15, 2026, to discuss the financial performance for the fourth quarter and the full fiscal year ending March 31, 2026.
For the full fiscal year FY26, the company reported a strong revenue growth of 25%, reaching ₹1,248 crore compared to ₹994 crore in the previous year. This growth was primarily driven by a significant increase in power tiller sales, with over 50,000 units sold, representing a 35% growth. Power weeder sales also saw substantial growth, increasing from 7,458 units to 11,346 units. Domestic tractor sales demonstrated a healthy annual volume growth of 18.6%, with 4,596 units sold. The company also generated INR132 crore in cash flow for the year, up from INR76 crore in the prior year.
In the fourth quarter of FY26, V.S.T. Tillers recorded a revenue growth of 9%, with revenues at ₹328 crore, up from ₹301 crore in the same quarter last year. Operational EBITDA for the quarter improved to 14.2% from 13.4%, an increase of 80 basis points. Excluding fair value adjustments, operational Profit After Tax (PAT) grew by 36% to approximately ₹39 crore, compared to ₹28 crore in the corresponding quarter of the previous year.
For the full fiscal year, operational EBITDA improved by 220 basis points, from 11.2% to 13.4%. Excluding fair value adjustments (a gain of ₹24 crore last year versus a loss of ₹6 crore this year), PAT for the full year was ₹113 crore, a significant increase from ₹70 crore in the previous year.
The company also highlighted new product launches, including the FENTM series of tractors and new front and rear rotary weeders. They also participated in various exhibitions and signed an MoU with Kerala Agriculture University for joint research.
Looking ahead, the management noted that demand in April and May 2026 has been good, despite challenges like inflation in fuel and commodity prices. The outlook for the monsoon is predicted at 92% of the long-period average, and while spatial distribution and timing are crucial, reservoir levels are supportive. The company is focusing on structural shifts in the small and marginal farmer segment through initiatives like Project Chatrapati, aiming to increase retail finance penetration to 20% this financial year. V.S.T. Tillers aims to maintain EBITDA margins between 12% to 14% and is exploring inorganic growth opportunities and global market expansion, including a planned launch in the US market by the end of 2027.
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See the model portfoliosA plain-language summary of a public exchange filing by V.S.T Tillers Tractors Limited. Read the original for the full detail.