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Employees: 1,502
Size VST Tillers Tractors (VSTTILLERS.NS) is an India Industrials company (Trucks/Construction/Farm Machinery) with a market value of $359M, the 982nd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹3,942 on 6 Nov 2026.
Performance Over six months the shares fell 24.0%, against -20.9% for the median peer and 0.0% for the India market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 17.0% over the last twelve months (peer median +11.1%); the operating margin is 11.3% (peer median 5.3%).
Valuation It trades at 24.8× forward earnings against a peer median of 17.0× (2nd most expensive of 9).
Price implies For today's price to make sense, revenue must grow about 27% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +17 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.5 points below its cost of capital (14.3% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹12.7B | ₹12.4B | ₹9.95B | ₹9.68B | ₹10.1B |
| Revenue growth | — | +25% | +3% | -4% | — |
| Gross profit | ₹2.58B | ₹2.39B | ₹1.71B | ₹1.83B | ₹1.81B |
| EBITDA | ₹1.69B | ₹1.69B | ₹1.14B | ₹1.27B | ₹1.32B |
| Net income | ₹1.09B | ₹1.05B | ₹930M | ₹1.21B | ₹924M |
| Free cash flow | n/a | ₹1.06B | ₹568M | ₹428M | ₹148M |
| Capital expenditure | n/a | ₹264M | ₹204M | ₹74.1M | ₹242M |
| Total debt | n/a | ₹19.1M | ₹19.6M | ₹13.5M | ₹18.9M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VSTTILLERS.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.9% | -12.0% | 7th highest of 21 |
| 6-month return | -24.0% | -20.9% | 9th lowest of 21 |
| Distance from 52-week high | -38.2% | -37.6% | 10th lowest of 21 |
| Revenue growth (TTM) | +17.0% | +11.1% | 7th highest of 21 |
| Operating margin | 11.3% | 5.3% | 4th highest of 21 |
| Forward P/E | 24.8× | 17.0× | 2nd most expensive of 9 |
| Growth the price implies (Req g, 7 yrs) | 27.3% | 9.0% | most demanding of 10 |
| Growth delivered (Del g) | +10.2% | +0.6% | 2nd highest of 10 |
| Hurdle (Req g minus delivered) | +17.1 pp | +9.0 pp | 3rd most demanding of 10 |
| ROIC minus cost of capital | -4.5 pp | -0.8 pp | 5th lowest of 21 |
| EV / EBITDA | 20.1× | 9.7× | most expensive of 11 |
| Net debt / EBITDA | -3.9× | 0.7× | least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| VST Tillers Tractors VSTTILLERS.NS | India | $359M | -24% | +17% | 11% | 24.8× | 27.3% | +10.2% |
| Beijing Zhongkehaixun Digital S&T 300810.SZ | China | $359M | -38% | +35% | -8% | n/a | n/a | n/a |
| Daihatsu Infinearth Mfg.co.,ltd 6023.T | Japan | $357M | -25% | +11% | 10% | 7.6× | n/a | n/a |
| Tan Chong International 0693.HK | Hong Kong | $367M | -2% | -7% | 5% | n/a | -2.1% | -0.5% |
| Airman 6364.T | Japan | $368M | -1% | +2% | 14% | 8.8× | n/a | n/a |
| Lungteh Shipbuilding 6753.TW | Taiwan | $369M | -28% | +13% | 25% | 15.2× | n/a | n/a |
| Nanchang Mineral Systems 001360.SZ | China | $344M | -16% | +12% | 4% | n/a | n/a | n/a |
| Shandong Hongyu Precision Machinery 002890.SZ | China | $343M | -21% | -2% | 2% | n/a | n/a | n/a |
| Chengdu Dahongli Machinery 300865.SZ | China | $340M | -22% | +35% | 8% | n/a | 25.4% | -11.5% |
| Weima Agricultural Machinery 301533.SZ | China | $383M | -15% | +20% | 7% | n/a | n/a | n/a |
| Traffic Control Technology 688015.SS | China | $383M | -37% | +10% | 7% | 18.8× | -3.9% | +4.5% |
| Zhejiang Xinchai 301032.SZ | China | $335M | -28% | +2% | 4% | n/a | 7.9% | -1.1% |
| Anhui Tuoshan Heavy Industries 001226.SZ | China | $387M | -28% | +30% | 3% | n/a | n/a | n/a |
| Twin Disc TWIN | United States | $332M | +19% | +12% | 5% | 30.9× | 5.7% | +11.8% |
| Fujian South Highway Machinery 603280.SS | China | $399M | -28% | -3% | 5% | n/a | 15.3% | -2.0% |
| Shenzhen Keanda Electronic Technology 002972.SZ | China | $405M | -18% | +20% | 19% | n/a | 12.2% | +0.9% |
| Dagang 300103.SZ | China | $317M | -19% | -27% | -58% | n/a | n/a | n/a |
| Talgo TLGO.MC | Spain | $313M | -21% | +22% | 1% | n/a | n/a | n/a |
| STX Engine 077970.KS | South Korea | $413M | -77% | +10% | 7% | 6.9× | n/a | n/a |
| L. B. Foster FSTR | United States | $418M | -6% | +16% | 5% | 21.6× | 11.5% | +1.7% |
| Giken 6289.T | Japan | $302M | +4% | +8% | 11% | 18.8× | 9.0% | +0.6% |