Q4FY23
VST Tillers Concall_LT.pdf (248.5 KB)
Concall Notes
[Discl: Not invested]
4 Likes
Recently started to track this company with a token investment. Guidance from the management looks a little on the unrealistic side which was 3000 crores in FY25 but later updated to FY26 citing Covid. The numbers from December sales do not look very promising.
Nippon India Mutual Fund buys 1,22,000 shares from open market. The notification was posted by VST TILLER too.
Their ownership increased from 6.92% to 8.33%.
Source:
9195E97B_FAFF_4DC3_831A_15035FA07F3F_102451.pdf (288.8 KB)
2 Likes
Jan 2024 monthly updated posted by the company.
Power Tillers: 3820 (3706 in Jan 2023)
Tractors: 326 (600 in Jan 2023)
Tractors sales are down 45% YoY. Power Tillers sales up 3.23% YoY.
Company in a media release announced that "The joint venture entity, VST Zetor Pvt Ltd., between the company and HTC Investemnts a.s (owner of brand “Zetor”) commenced operations in the quarter. "
Extremely poor results from the company. There seems to be a deep cyclical element to this company similar to agro chemicals since they are heavily dependent on agriculture which depends on monsoons. Would be interesting to see if the management is still firm on the guidance of 3000 crore by 2026.
1 Like
Agreed! The guidance shared by the management seems so far fetched at this point!
Disclosure: Tracking it since I read about the revenue guidance but now seeming pointless
One should now read the FY2026 target as FY2027 target, which is still impressive if achieved (30% CAGR revenue growth). They believe, that focusing on small farm mechanization themes, getting into new segments with joint ventures, getting into the production of new products, and getting into new markets will get them to the target.
Best Regards
Shobhit
1 Like