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Last Updated on: 28 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of VST Tillers Tractors Ltd

About the Company - VST Tillers Tractors Ltd

VST Tillers Tractors Ltd. is a Public Limited Listed company incorporated on 18/12/1967 and has its registered office in the State of Karnataka, India. Company’s Corporate Identification Number(CIN) is L34101KA1967PLC001706 and registration number is 001706. Currently Company is involved in the business activities of Manufacture of general purpose machinery. Company’s Total Operating Revenue is Rs. 853.86 Cr. and Equity Capital is Rs. 8.64 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Auto - TractorsPlot No.1, Dyavasandra Industrial Layout, Bengaluru Karnataka 560048vstgen@vsttillers.com
http://www.vsttillers.com
Management
NamePosition Held
Mr. V K SurendraChairman
Mr. Arun V SurendraNon Executive Director
Mr. V T RavindraManaging Director
Mr. V V PravindraNon Executive Director
Dr. Nandakumar JairamIndependent Director
Mr. Rajen Krishnanand PadukoneIndependent Director
Mr. M K BannerjeeIndependent Director
Mr. K M PaiIndependent Director
Ms. Siva Kameswari VissaIndependent Director

VST Tillers Tractors Ltd. Share Price Update

Share PriceValue
Today₹3,155.00
Previous Day₹3,152.65

Basic Stock Data of VST Tillers Tractors Ltd

Market Cap 2,826 Cr.
Current Price 3,272
High / Low4,196/2,097
Stock P/E22.4
Book Value 1,009
Dividend Yield0.77 %
ROCE15.9 %
ROE11.7 %
Face Value 10.0

Data Source: screener.in

Competitors of VST Tillers Tractors Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Industry Average0 Cr0000%0%0%0

VST Tillers Tractors Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales203195194233208218236234214323246279170
Expenses173187168195178188219202190268214235160
Operating Profit3082538303017322355324310
OPM %15%4%13%16%15%14%7%14%11%17%13%15%6%
Other Income15141211562895181418
Interest0000000000101
Depreciation4466676777777
Profit before tax40183143292913342553435020
Tax %23%26%23%25%27%24%21%33%22%24%23%27%17%
Net Profit31132432212210231940333617
EPS in Rs35.6814.9727.7937.2124.3625.5811.6326.3222.4946.4738.1942.1919.62

VST Tillers Tractors Ltd Quarterly Chart

VST Tillers Tractors Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales5314826245526476757636155447648541,0061,017
Expenses458409505451534574644560514670729879878
Operating Profit7372119100113101120553095125127139
OPM %14%15%19%18%17%15%16%9%6%12%15%13%14%
Other Income52912122945351146342555
Interest1122332224212
Depreciation3349131211161617252727
Profit before tax73701221011101161527223119132124165
Tax %32%30%32%31%33%29%26%36%22%24%25%25%
Net Profit5049837074831124618919992127
EPS in Rs57.7956.2296.0080.4785.8095.73129.6153.3120.85105.08114.95106.92146.47
Dividend Payout %16%16%16%19%17%16%39%28%72%19%17%23%

VST Tillers Tractors Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-2.00%69.39%-15.66%5.71%12.16%34.94%-58.93%-60.87%405.56%8.79%-7.07%
Change in YoY Net Profit Growth (%)0.00%71.39%-85.05%21.38%6.45%22.78%-93.87%-1.94%466.43%-396.76%-15.86%

VST Tillers Tractors Ltd Growth

Compounded Sales Growth
10 Years:8%
5 Years:6%
3 Years:23%
TTM:13%
Compounded Profit Growth
10 Years:7%
5 Years:-2%
3 Years:56%
TTM:70%
Stock Price CAGR
10 Years:15%
5 Years:18%
3 Years:21%
1 Year:44%
Return on Equity
10 Years:14%
5 Years:11%
3 Years:13%
Last Year:12%

VST Tillers Tractors Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital9999999999999
Reserves196236304355411491588581568659741816863
Borrowings16000000000022
Other Liabilities10191158109113131189158152218217264226
Total Liabilities3223364704725336317867487298859661,0911,099
Fixed Assets5777124135127147158206206248266261254
CWIP6140231057354825121417
Investments24410695136188204165156312414430413
Other Assets234240239240267286367343318300275385414
Total Assets3223364704725336317867487298859661,0911,099

VST Tillers Tractors Ltd Reserves and Borrowings Chart

VST Tillers Tractors Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -105013126858633437215512536
Cash from Investing Activity 3-11-131-13-43-75-3611-33-148-110-32
Cash from Financing Activity 6-26-11-17-34-3-17-54-33-2-19-19
Net Cash Flow-113-10-499-19076-4-14

VST Tillers Tractors Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days857460627071895765392954
Inventory Days649277102705858111100776456
Days Payable392560172830463157605268
Cash Conversion Cycle10914077148112100101137108564142
Working Capital Days8810252958986941241134127173
ROCE %39%31%45%30%29%24%26%14%6%20%19%

VST Tillers Tractors Ltd Financial Efficiency Indicators Chart

VST Tillers Tractors Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters54.77%54.77%54.77%54.82%54.82%54.82%55.58%55.58%55.58%55.58%55.58%55.58%
FIIs6.57%5.26%5.15%5.67%5.54%5.43%3.98%1.26%1.26%1.76%2.07%2.02%
DIIs12.30%13.60%14.97%15.20%15.85%16.40%16.39%19.73%19.79%18.97%17.24%16.61%
Public26.36%26.37%25.11%24.30%23.79%23.35%24.03%23.42%23.37%23.69%25.12%25.79%
Others0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.00%0.00%
No. of Shareholders20,37922,68721,10622,20520,68220,87721,70721,60423,73023,92325,45626,121

VST Tillers Tractors Ltd Shareholding Pattern Chart

No. of VST Tillers Tractors Ltd Shareholders

VST Tillers Tractors Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Nippon India Small Cap Fund5436910.39181.12
Nippon India Multi Cap Fund1763920.2358.76
Bank of India Mid & Small Cap Equity & Debt Fund70000.372.33

VST Tillers Tractors Ltd ROCE Trend

VST Tillers Tractors Ltd EPS Trend

VST Tillers Tractors Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)106.90114.95105.0720.8353.32
Diluted EPS (Rs.)106.90114.95105.0720.8353.32
Cash EPS (Rs.)138.09143.93124.8439.7771.59
Book Value[Excl.RevalReserv]/Share (Rs.)954.28867.57772.69667.76682.79
Book Value[Incl.RevalReserv]/Share (Rs.)954.28867.57772.69667.76682.79
Dividend / Share (Rs.)25.0020.0020.0015.0015.00
Revenue From Operations / Share (Rs.)1164.91988.32884.59629.29711.61
PBDIT / Share (Rs.)176.11183.19159.5547.37103.67
PBIT / Share (Rs.)144.93154.21139.7828.4485.40
PBT / Share (Rs.)143.46153.00138.0026.7482.80
Net Profit / Share (Rs.)106.90114.95105.0720.8453.32
PBDIT Margin (%)15.1118.5318.037.5214.56
PBIT Margin (%)12.4415.6015.804.5112.00
PBT Margin (%)12.3115.4815.604.2411.63
Net Profit Margin (%)9.1711.6311.873.317.49
Return on Networth / Equity (%)11.2013.2413.593.127.80
Return on Capital Employeed (%)14.3916.8116.983.9711.47
Return On Assets (%)8.4610.2710.252.476.15
Asset Turnover Ratio (%)0.970.920.940.730.80
Current Ratio (X)3.283.443.163.874.32
Quick Ratio (X)2.792.862.542.943.14
Inventory Turnover Ratio (X)5.994.814.773.084.34
Dividend Payout Ratio (NP) (%)18.7017.390.00143.9493.77
Dividend Payout Ratio (CP) (%)14.4813.890.0075.4469.84
Earning Retention Ratio (%)81.3082.610.00-43.946.23
Cash Earning Retention Ratio (%)85.5286.110.0024.5630.16
Interest Coverage Ratio (X)119.62151.4189.3527.8739.87
Interest Coverage Ratio (Post Tax) (X)73.6196.0159.8413.2621.50
Enterprise Value (Cr.)1935.362045.001508.02554.791119.16
EV / Net Operating Revenue (X)1.922.391.971.021.82
EV / EBITDA (X)12.7212.9210.9413.5612.50
MarketCap / Net Operating Revenue (X)1.952.432.021.071.85
Retention Ratios (%)81.2982.600.00-43.946.22
Price / BV (X)2.382.772.311.011.93
Price / Net Operating Revenue (X)1.952.432.021.071.85
EarningsYield0.040.040.050.030.04

VST Tillers Tractors Ltd Profitability Ratios (%)

VST Tillers Tractors Ltd Liquidity Ratios

VST Tillers Tractors Ltd Liquidity Ratios (%)

VST Tillers Tractors Ltd Interest Coverage Ratios (X)

VST Tillers Tractors Ltd Valuation Ratios

Fair Value / Intrinsic Value of VST Tillers Tractors Ltd

Fair Value: ₹2664.75

The stock is overvalued by 18.56% compared to the current price ₹3272

*Investments are subject to market risks

Strength and Weakness of VST Tillers Tractors Ltd

StrengthWeakness
  1. The stock has a high average ROCE of 23.58%, which is a positive sign.
  2. The company has higher reserves (523.77 cr) compared to borrowings (1.54 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (542.54 cr) and profit (106.08 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 133.98 and average Dividend Yield of 12.07%.
  2. The stock has a high average Working Capital Days of 90.33, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 97.58, which may not be favorable.

Should I Buy VST Tillers Tractors Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in VST Tillers Tractors Ltd:
    1. Net Profit Margin: 9.17%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 14.39% (Industry Average ROCE: 0%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 73.61
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 2.79
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✗ Stock P/E: 22.4 (Industry average Stock P/E: 0)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✗ Total Debt / Equity: N/A
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in VST Tillers Tractors Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE