last five yr tiller and tractor number for VST. Management has guided for around 5% growth in tillers and 15% growth in tractors.
Volume growth may vary depending on monsoon,govt policy..etc.
Value growth depend on price,competitiveness,HP range.
In FY 17 value growth for tractor segment is 6%.Probably due to higher HP tractor (27 hp) launch.
During AGM, CEO mentioned that EBITA margins will remain around 16%.It may increase with increase in higher HP tractors which is expected in FY19.
ESCORTS ltd which has tractors ranging from <30 HP to >50 HP, has EBITA margins of around 10%in fy17.