VST Tillers Tractors Q2 FY26 results: profit at ₹25 crore

Why this update matters

VST Tillers Tractors Ltd’s latest quarterly update brings fresh numbers on revenue, profitability, and per-share earnings, alongside a confirmed earnings announcement date. For investors tracking the farm equipment cycle and the company’s operating performance, the Q2 FY26 snapshot is also useful for comparing the recent swing between Q1 and Q2 profitability.

The disclosures include standalone Q2 FY26 headline financials, margin data, and notes on investment-related fair value movement. The company has also declared a dividend in the current financial year, which adds an additional datapoint for shareholders.

Earnings date and result announcement

The upcoming earnings date for VST Tillers Tractors Ltd. is November 6, 2025. The Q2 FY26 results summary provided is also marked with an announcement date of November 6, 2025, aligning the scheduled earnings date with the quarterly outcome.

Q2 FY26: headline numbers (Standalone)

For Q2 FY26 (Standalone), VST Tillers Tractors reported:

• Revenue: ₹315.15 crore (₹31,515 lakhs), up 11% YoY and 12% QoQ
• Net profit: ₹25.43 crore (₹2,543 lakhs), down 43% QoQ
• H1 FY26 net profit: ₹69.99 crore (₹6,999 lakhs), up 3% YoY

In the same dataset, the company’s revenue is also referenced as “revenue earned of Rs 315” and net profit as “Rs 25,” which aligns with the lakh-to-crore conversion of the detailed standalone figures.

Margins and profitability indicators

The Q2 FY26 summary includes profitability ratios that help interpret the quarter’s performance beyond absolute profit:

• Profit before tax (PBT) margin (Q2 FY26): 11.5%
• Net profit margin (Q2 FY26): 8.0%

These margin figures provide context for the quarter’s earnings outcome, especially in light of the reported quarter-on-quarter decline in net profit.

EPS and per-share metrics disclosed

The results summary reports:

• EPS (Basic, Q2 FY26): ₹29.42
• EPS (Basic, Q2 FY25): ₹52.01

Separately, the provided data also mentions:

• Reported EPS: 109.80
• Estimated EPS: --

In addition, an “Earnings Per Share” table in the provided material lists multiple Basic EPS values: 109.33, 140.64, 106.90, 114.95, 105.07 (period labels are not specified in the excerpt).

What changed in Q2 FY26: notes from management commentary

The Q2 FY26 summary flags specific items that affected the quarter’s reported outcome:

• Fair value loss on investments: ₹2.28 crore (₹228 lakhs) in Q2 FY26, compared with a gain in the prior-year quarter
• Employee share-based payment expense: stated as doubled YoY in Q2 FY26
• No exceptional items were reported
• No restructuring, acquisitions, or disposals were reported
• The JV VST Zetor Pvt Ltd reported minor losses, stated as not material to consolidated results

The company also stated that no specific guidance was provided in the announcement.

Q1 FY26 context: strong profit and investment gains

For Q1 FY26 (Standalone), VST Tillers Tractors reported:

• Revenue from operations: ₹282.45 crore (₹28,245 lakhs), up 48% YoY and down 6.3% QoQ
• Total income: ₹308.34 crore (₹30,834 lakhs) vs ₹211.91 crore (₹21,191 lakhs) in Q1 FY25
• Profit before tax: ₹56.60 crore (₹5,660 lakhs)
• Net profit: ₹44.56 crore (₹4,456 lakhs)
• EPS (Basic): ₹51.56
• Fair value gain on investments: ₹23.79 crore (₹2,379 lakhs)
• Employee share-based payment expense: ₹1.27 crore (₹127.43 lakhs), up from ₹0.65 crore (₹64.67 lakhs) YoY

For Q1 FY26 (Consolidated) (including JV VST Zetor Private Limited):

• JV loss: ₹0.34 crore (₹33.89 lakhs), stated as immaterial
• Consolidated net profit: ₹44.22 crore (₹4,422 lakhs)
• EPS (Basic): ₹51.16

A separate Q1 snapshot in the provided text also states: revenue ₹282.45 crore, operating profit ₹26.27 crore, PBDT ₹18.45 crore, PBT ₹56.26 crore, and net profit ₹44.22 crore.

Dividend declared in the current financial year

VST Tillers Tractors Ltd. has declared a dividend of ₹20.00 on September 3, 2025.

The provided information also states the company recommended a final dividend of ₹20 per equity share (face value ₹10 each), to be paid on or after the AGM date, subject to shareholder approval.

A separate dividend table included in the data lists the following (period labels not specified):

• Equity Share Dividend: 17.28, 21.60, 17.28, 17.28, 0.00
• Equity Dividend Rate (%): 200.00, 200.00, 250.00, 200.00, 200.00

Market context from earlier quarters cited in the data

The provided material includes earlier-quarter references that show how outcomes have varied:

• Q4 FY25: consolidated net profit ₹24.42 crore, down 29.72% YoY; revenue from operations ₹301.43 crore (up 10.23% YoY)
• Q4 FY25 PBT: ₹30.29 crore; total expenses: ₹267.86 crore
• Stock reaction noted: shares fell 2.33% to ₹3,652.35 following the Q4 FY25 profit update (as cited)

For FY25, the same data states net profit ₹92.97 crore on revenue from operations ₹994.55 crore.

Key numbers table (all values as reported; revenue normalized to ₹ crore)

What to track from here

With the earnings date set as November 6, 2025, investors are likely to focus on the gap between Q1 FY26 and Q2 FY26 profitability and how investment fair value movements influenced reported numbers. The company’s note that there were no exceptional items or corporate actions such as restructuring or acquisitions is also a relevant marker for interpreting comparability.

The dividend details, including the declared ₹20 and the note on final dividend payment post-AGM approval, remain key shareholder-related updates from the current financial year information provided.

Conclusion

VST Tillers Tractors’ Q2 FY26 standalone results show revenue of ₹315.15 crore and net profit of ₹25.43 crore, with an 8.0% net profit margin and basic EPS of ₹29.42. Alongside the results, the company has declared a ₹20 dividend dated September 3, 2025, and the earnings date is stated as November 6, 2025. The next confirmed milestone in the provided information is the results event itself, with no specific forward guidance cited in the announcement.