VST Tillers Releases Q3 FY26 Conference Call Transcript with Strategic Insights
VST Tillers disclosed the complete transcript of its Q3 FY26 post-results conference call, revealing comprehensive details about the company's exceptional performance, strategic initiatives, and future expansion plans across domestic and international markets.
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VST Tillers Tractors Limited has released the complete transcript of its Q3 FY26 post-results conference call held on February 09, 2026, providing comprehensive insights into the company's strategic direction and operational performance. The transcript was formally disclosed to stock exchanges on February 13, 2026, under Regulation 30 of SEBI regulations.
Conference Call Disclosure Details
The company filed the conference call transcript with both NSE and BSE, signed by Company Secretary & Compliance Officer Chinmaya Khatua. The call was hosted by B&K Securities and moderated by Annamalai Jayaraj from Batlivala and Karani Securities India Private Limited.
| Detail: | Information |
|---|---|
| Conference Call Date: | February 09, 2026 |
| Filing Date: | February 13, 2026 |
| Host: | B&K Securities |
| Management Present: | V.T. Ravindra (MD), Antony Cherukara (CEO), Nitin Agrawal (CFO) |
Key Performance Highlights Discussed
CEO Antony Cherukara highlighted the company's exceptional performance during the call, emphasizing record-breaking achievements across multiple segments.
Nine-Month Performance Overview
| Metric: | 9M FY26 | 9M FY25 | Growth (%) |
|---|---|---|---|
| Revenue: | ₹912 crores | ₹693 crores | +31.6% |
| Power Tiller Sales: | 37,374 units | 24,100 units | +55.1% |
| Power Weeder Sales: | 8,399 units | 5,142 units | +63.3% |
| Domestic Tractor Growth: | 3,352 units | 2,846 units | +17.8% |
| Cash Generation: | ₹108 crores | - | Improved |
Q3 FY26 Quarterly Results
| Product Category: | Q3 FY26 | Q3 FY25 | Growth (%) |
|---|---|---|---|
| Power Tiller: | 12,545 units | 6,775 units | +85.2% |
| Domestic Tractors: | 1,341 units | 1,016 units | +32.0% |
| Power Weeder: | 3,429 units | 1,652 units | +107.6% |
| Power Reaper: | 1,793 units | 1,614 units | +11.1% |
| Export Tractors: | 320 units | 382 units | -16.2% |
Strategic Initiatives and Market Expansion
During the call, management outlined several strategic initiatives including the launch of new product series and market expansion plans. The company is launching its FENTM (Fuel Efficient and Torque Max) series, starting with Gujarat and expanding to Maharashtra and other states.
Distribution Network Expansion
| Network Type: | Current Count | Target Expansion |
|---|---|---|
| SFM Dealers: | 650 | Expanding |
| Distributors: | 10 | Scaling significantly |
| Retailers: | 300 | Multi-fold increase |
| Target Counters: | 1,000 | 6,000 (6x growth) |
Future Outlook and Capex Plans
Management provided guidance on future investments and market expectations. The company expects to maintain growth momentum with planned capex of ₹60 crores for FY27, focusing on technology development and manufacturing capacity expansion.
Market Potential Analysis
Cherukara emphasized the significant untapped potential in small farm mechanization, noting that while the tractor industry serves approximately 1 million units annually, there are 15 crore farming households in India. Even assuming optimal tractor utilization, only 5 crore households receive mechanization support, leaving 10 crore households without adequate mechanization solutions.
Product Development and Innovation
The company highlighted its R&D capabilities and recent awards, including CII Design Excellence Awards for VST FEN and VST Electric Weeder. The electric product range, including electric power weeders and tillers, is set for market seeding in March 2026, with full-scale launch in the next financial year.
International Expansion Plans
| Region: | Strategy | Timeline |
|---|---|---|
| Europe: | Establishing Netherlands base | Q1 FY27 |
| U.S. Market: | Product development continuing | 2027 entry |
| Export Mix FY26: | Europe 90%, Africa 5%, Others 5% | Current |
The comprehensive transcript provides stakeholders with detailed insights into VST Tillers' strategic direction, operational performance, and management's confidence in sustaining growth across its diversified product portfolio.
Historical Stock Returns for VST Tillers Tractors
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.38% | -6.18% | +6.33% | +7.23% | +70.11% | +213.79% |
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