VST Tillers Tractors Ltd.

NSE: VSTTILLERS | BSE: 531266 | ISIN: INE764D01017 |Industry: Commercial Vehicles
|Expensive Performer
1576.60 -5.55 (-0.35%)
NSE Oct 26, 2020 11:49 AM
Volume: 3,541

VST Tillers Tractors Ltd.    
13 Nov 2018
Nirmal Bang Institutional
VST Tillers and Tractors (VST) reported a weak performance for 2QFY19, with PAT coming in at 41% below our estimate. Net sales at Rs1.4bn were 4% below our estimate, while margins at 1.9% were significantly below our estimate of 12.2%. Absolute EBITDA at Rs28mn fell 85% YoY because of lower margins. Lower margins were because of multiple one-time costs in 2QFY19 which were included in other expenses. One-time costs include CSR, repairs, higher freight costs, higher power and fuel costs and also higher new product launch expenses. Also, in 2QFY19 the company made a provision of Rs35mn for an incidence of fraud done by its employees, of which Rs3.7mn has been...
VST Tillers Tractors.. has an average target of 1890.00 from 2 brokers.
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