VST Tillers Tractors reported 67.65% higher consolidated gross revenue for the March 21 quarter at 208.99cr. On a sequential basis, net sales revenue decreased -3.93% from total revenue for the December 20 quarter at 217.55cr.
FY21 revenue was 42.9% higher at Rs810cr. The company has directly benefited from the growth in agriculture which remains robust at 3.4% per year and the higher PSM provided to farmers by the government, leading to a sharp increase in demand for tillers and tractors over the course of the year. exercise.
Net profit on March 21 turned into a profit of Rs12.93cr compared to a net loss of Rs-3.38cr in the March 20 quarter. The recovery in profits is explained by the strong increase in turnover resulting in a much better absorption of fixed costs during the quarter.
Net margins at 6.19% in the March 21 quarter were lower than 14.17% in the sequential December 20 quarter due to higher benefit costs. For FY21, the company approved and declared a dividend of Rs 20 per share to its shareholders.
Financial Highlights for March 21 compared YoY and Sequentially
| Tractors VST Tillers Ltd | |||||
| Rs in crore | Mar-21 | March 20 | YEAR | Dec-20 | QOQ |
| Total income (Rs cr) | 208.99 | 124.66 | 67.65% | 217,217.55 | -3.93% |
| Net profit (Rs cr) | 12.93 | -3.38 | N / A | 30.83 | -58.06% |
| Diluted EPS (Rs) | 14.97 | -3.91 | 35.68 | ||
| Net margins | 6.19% | -2.71% | 14.17% | ||
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