VST Tillers Tractors Reports Strong Q3 FY26 Performance with 43.4% Revenue Growth
VST Tillers Tractors Limited reported exceptional financial performance for Q3 FY26 with revenue growing 43.4% to ₹314.3 crore and net profit surging to ₹30.7 crore from ₹1.7 crore year-on-year. EBITDA margins expanded significantly from 8.9% to 12.9%, while net profit margins improved from 0.8% to 9.6%. For the nine-month period, revenue reached ₹911.9 crore with 31.6% growth, and net profit rose to ₹100.7 crore, demonstrating the company's strong operational performance and market position in the farm equipment sector.

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VST Tillers Tractors Limited announced strong financial results for the quarter and nine months ended December 31, 2025, demonstrating robust growth across key performance metrics. The farm equipment manufacturer reported significant improvements in revenue, profitability, and operational efficiency during the reporting period.
Financial Performance Highlights
The company's financial performance showed substantial improvement across both quarterly and nine-month periods, with notable expansion in margins and profitability metrics.
Q3 FY26 Results
| Metric | Q3 FY26 | Q3 FY25 | Growth (%) |
|---|---|---|---|
| Revenue from Operations | ₹314.3 crore | ₹219.1 crore | +43.4% |
| Operational EBITDA | ₹40.7 crore | ₹19.6 crore | +107.7% |
| EBITDA Margin | 12.9% | 8.9% | +400 bps |
| Net Profit | ₹30.7 crore | ₹1.7 crore | +1,705.9% |
| Net Profit Margin | 9.6% | 0.8% | +880 bps |
The company's operational EBITDA margin expansion was particularly noteworthy, rising from 8.9% to 12.9%. After accounting for the ₹1.66 crore impact of the new labour code, the EBITDA margin would have been 13.50%, indicating strong underlying operational performance.
Nine-Month Performance
| Metric | 9M FY26 | 9M FY25 | Growth (%) |
|---|---|---|---|
| Revenue from Operations | ₹911.9 crore | ₹693.1 crore | +31.6% |
| Operational EBITDA | ₹119.1 crore | ₹70.7 crore | +68.5% |
| EBITDA Margin | 13.06% | 10.2% | +286 bps |
| Net Profit | ₹100.7 crore | ₹69.5 crore | +44.9% |
| Net Profit Margin | 10.6% | 5.8% | +480 bps |
For the nine-month period, excluding the ₹1.66 crore impact of the new labour code, the EBITDA margin would have been 13.20%, demonstrating consistent operational efficiency improvements.
Operational Excellence
The results reflect VST Tillers Tractors' continued focus on operational resilience and growth momentum in the farm equipment sector. The company's performance indicates strong demand for its products and effective cost management strategies. The significant margin expansion across both quarterly and nine-month periods highlights the company's ability to optimize its operations while scaling revenue growth.
Company Profile
VST Tillers Tractors Limited, established in 1967 by the VST Group of companies, operates as India's leading farm equipment manufacturer with over 55 years of legacy in driving farm mechanization. The company holds the position of largest Indian manufacturer of Tillers and 4WD Compact Tractors, while also being among the leading producers of other tractor categories, engines, transmission, power reapers, and precision components. VST extends its reach beyond domestic markets, exporting products to European, Asian, and African markets.
Historical Stock Returns for VST Tillers Tractors
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.59% | +6.50% | -6.15% | +25.73% | +35.29% | +207.74% |


































