*V.S.T. Tillers Tractors Ltd.* | *CMP* Rs. 2904 | *M Cap* Rs. 2509 Cr | *52 W H/L* 3458/1635
(Nirmal Bang Retail Research)
*Result ahead of Expectation*
Revenue from Operations came at Rs. 233.5 Cr (20.6% QoQ, 5.9% YoY) vs expectation of Rs. 237.7 Cr, QoQ Rs. 193.6 Cr, YoY Rs. 220.4 Cr
EBIDTA came at Rs. 38.4 Cr (51.2% QoQ, 1.7% YoY) vs expectation of Rs. 30.7 Cr, QoQ Rs. 25.4 Cr, YoY Rs. 37.7 Cr
EBITDA Margin came at 16.4% vs expectation of 12.9%, QoQ 13.1%, YoY 17.1%
Adj. PAT came at Rs. 32.2 Cr vs expectation of Rs. 0 Cr, QoQ Rs. 24 Cr, YoY Rs. 29.9 Cr
Quarter EPS is Rs. 37.2
Share is trading at P/E of 18.7x FY23E EPS