VST Tillers Tractors Ltd

ESG rating update

• ESG Score: 63, categorized as Strong, for FY 2025-26.
• Provider: Crisil ESG Ratings & Analytics Limited, SEBI-registered.
• Based on FY2025-26 data available in the public domain.
• Score published on Crisil’s website.
• Regulatory disclosure: Intimation under SEBI LODR Regulation 30.
• Filing date: September 28, 2026.

VST Tillers Tractors Ltd. Trading Window closed from October 01, 2026 until expiry of 48 hours from the declaration of financial results for the quarter ending September 30, 2026.

Statutory Auditor Change

• K.S. Rao & Co ceased as statutory auditors after two five-year terms at 58th AGM (23 Sep 2026).
• Brahmayya & Co appointed for five-year term from 58th AGM to 63rd AGM; approved 23 Sep 2026.
• Board approved appointment on 13 Aug 2026; shareholder approval granted at AGM.

AGM details

• AGM held on 23 September 2026 at 11:00 IST via VC/OAVM.
• Remote e-voting period 19–22 September 2026.
• Voting cut-off date: 16 September 2026.

Resolutions and outcomes

• Resolution 1 (Ordinary): Adopt standalone financial statements for FY2026; passed.
• Resolution 2 (Ordinary): Adopt consolidated financial statements for FY2026; passed.
• Resolution 3 (Ordinary): Final dividend of Rs 25 per equity share; passed.
• Resolution 4 (Ordinary): Re-appoint director retiring by rotation; passed.
• Resolution 5 (Ordinary): Appoint M/s Brahmayya & Co as Statutory Auditors; passed.
• Resolution 6 (Special): Ratify remuneration of Cost Auditors for FY2027; passed.
• Resolution 7 (Special): Appoint Mrs. Shuba Kumar as Independent Director; passed.

Dividend

• Final dividend of Rs 25 per equity share approved.

Director changes

• Re-appointment of director by rotation approved.
• Mrs. Shuba Kumar appointed as Independent Director.

Auditors

• Statutory auditors appointed: Brahmayya & Co.
• Cost Auditors' remuneration ratified for FY2027.

AGM Details

• Date, time, mode: 23 Sep 2026, 11:00 am; VC/OAVM; deemed Bengaluru.

Key Resolutions

• Ordinary: Adopt standalone financial statements for FY ended March 31, 2026.
• Ordinary: Adopt audited consolidated financial statements for FY ended March 31, 2026.
• Ordinary: Declare final dividend of 25/- per equity share.
• Ordinary: Re-appoint director retiring by rotation.
• Ordinary: Appoint M/s Brahmayya & Co as Statutory Auditors.
• Special: Ratify remuneration of Cost Auditors for FY ending March 31, 2027.
• Special: Appoint Mrs. Shuba Kumar as Independent Director.

Voting Status

• Voting results to be announced within two working days after the meeting.
• Scrutinizer’s report to be uploaded on company website and CDSL.
• Intimated to stock exchanges.

Audit Notes

• Statutory and Secretarial audit reports had no qualifications.

Subject and governance

• BRSR submitted for FY2025-26; forms part of Annual Report.
• Board of 7 directors; 1 woman (14.3%); MD Ravindra; ESG oversight via committees; anti-corruption policy in place.

ESG governance and policy framework

• Policies cover all NGRBC principles; board-approved and translated into procedures.
• Value chain extension varies; some principles not extended to suppliers.

Environmental performance

• Total energy 44,983.69 GJ; renewables 4,463.06 GJ; non-renewables 40,520.62 GJ.
• GHG emissions: Scope 1 2,536.99 tCO2e; Scope 2 1,775.54 tCO2e; total 4,312.53 tCO2e.
• Water: groundwater 35,416 kl; total withdrawal 45,262 kl; 29.66% recycled; zero liquid discharge.

Waste and social metrics

• Total waste 1,262.40 MT; recycled 1,242.51; incineration 19.89; landfilling 0.
• Hazardous waste 28.62 MT; ETP waste 2.21 MT; paint sludge reduced via process improvements.
• Subsidiaries: VST Zetor 51%; VST Americas 100%; VST Fieldtrac 100%.

Financial performance

• Revenue from operations: ₹1,240 crore in FY2025-26, up 25% YoY.
• Operating EBITDA ₹165.9 Cr; margin 13.4%.
• PAT ₹106 Cr; strong bottom-line growth.
• Net worth ₹1,100.74 Cr; stable balance sheet.
• Current ratio 5.63; improved liquidity.
• Cash from operations ₹132 Cr; robust cash generation.

Operational momentum

• Power tillers sold: 50,332 units, including exports.
• Tractors sold: 5,911 units.
• 1,429 dealer networks; 767 dealers in SFM segment.
• Operations in 40+ countries across Europe, Africa and Asia.
• R&D spend ₹13.67 Cr; Global Technology Centre planned at ₹100 Cr.

Dividends & capital allocation

• Final dividend ₹25 per equity share; record date 16-Sep-2026; payout after AGM.
• Dividend outflow ~₹21.63 Cr; aligned with dividend policy.

Geography and segments

• SFM volume driver: 50,332 tillers; growth in reapers and weeders.
• Tractor segment expanding in both domestic and international markets.
• International footprint across 40+ countries with FIELDTRAC tractors.

Governance & risk

• Board of 7 members; 4 independent; 1 woman independent; MD present.
• Statutory auditors: Brahmayya & Co; Cost auditors Rao, Murthy.
• Robust risk management framework with Enterprise Risk Committee.

ESG and sustainability

• Energy intensity down 19.2% YoY; LED lighting across plants.
• Rooftop solar: 4,463 GJ; ~880 tCO2e avoided.
• 350 trees planted; birthday sapling program.
• Zero liquid discharge implemented.
• Waste management: 8.73 MT recycled; 1,233.78 MT recovered.

R&D and technology

• Global Technology Centre: foundation laid July 2026; ₹100 Cr phased.
• R&D expenditure ₹13.67 Cr; SCORE initiative progress.