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Business News/ Markets / Stock Markets/  Why did smallcap stock VST Tillers Tractors rise by 15% today?
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Why did smallcap stock VST Tillers Tractors rise by 15% today?

VST Tillers delivered double-digit growth across key parameters in Q4 of FY23. Also, the company announced an hefty dividend of ₹25 per share for its shareholders.

VST Tillers share price zoomed by 15% on Monday. (HT)Premium
VST Tillers share price zoomed by 15% on Monday. (HT)

Smallcap stock VST Tillers Tractors touched a new 52-week high on Monday, The overall upside in the stock is a little over 15% so far in the single-day trading session. The strong buying comes after VST Tillers posted double-digit growth in Q4 earnings and achieved a key milestone in sales.

At the time of writing, VST Tillers traded at 2,805.95 apiece up by 289.75 or 11.52% on BSE. The stock has hit a new 1-year high of 2,894.90 apiece -- resulting in an overall gain of 15.05% so far.

In the previous session, the stock stood at 2,516.20 apiece.

For investors, the company has also declared good news for them. It has recommended a final dividend of 25 per equity share having a face value of 10 each for FY23.

Read here: Tata Motors DVR share price soars on dividend news: What are DVR stocks?

During the fourth quarter of FY23, VST Tillers reported a revenue of 322.61 crore, registering strong growth of 47.7% over the same quarter last year. EBITDA for Q4 stood at 59.78 Crore, which is 18.23% of sales. PAT came in at 40.15 crore in Q4FY23 -- nearly double from 22.10 crore in Q4FY22 and 19.43 crore in Q3FY23.

For the full-year FY23, the revenue was at 1,006.43 crore, with a healthy growth of 17.8% over FY22. EBITDA margin stood at 152.16 crore, which is 14.75% on sales. Overall, PAT was at 92.37 crore in FY23.

VST in its statement said, "This is despite commodity inflation prices and reduction in other income from the Mark to Market gain on Investments."

Also, in FY23, the company achieved the highest ever sales of Power Tiller at 38,247 units and the export of tractors is continuously growing at 1458 units.

Lastly, Nitin Agrawal has been appointed as Chief Financial Officer and KMP of the company with effect from May 12, 2023.

Read here: Tata Motors share price hits new 52-week high after Q4; 5 key triggers for the stock ahead

VST Tillers is India’s leading farm equipment manufacturer. The company is the largest Indian manufacturer of Tillers, and 4WD Compact Tractors, and amongst the leading producers of the other category of Tractors, Engines, Transmission, Power Reaper, and Precision Components.

According to Investing.com, technical indicators suggest a 'strong buy' in VST Tillers' share price. Also, the moving averages of the stock indicate a buy.

VST Tillers' stock has jumped by nearly 15% in a month. While the upside is nearly 20% on a half-yearly basis as of now. So far in 2023, the stock has skyrocketed by over 21.5%.

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Published: 15 May 2023, 12:07 PM IST
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