VST Tillers gains 3% on sales growth in May

VST Tillers Tractors is the leading farm mechanisation player domestically with a dominant market share in the power tiller segment of around more than 50 percent.

Shares of VST Tillers Tractors recovered and rose 3 percent on June 1 after the company released its monthly sales figures. At 12:25 pm, the stock was quoting at Rs 2,828.50, up 1.19 percent, on the BSE.

Total power tiller and tractor sales for May 2023 came in at 3,756 as compared to 3,628 reported in May 2022. Power tiller sales increased to 3,319 from year ago’s 3,037, whereas sale of tractors fell to 437 from 591.

For the overall tractor segment, Nomura had estimated volume to decline by 9 percent YoY in May 2023. It has built in flat volumes for FY24.