The tractors were showcased at various agricultural and trade fairs across the country over the past few months to incorporate farmers’ feedback and include features for best suitability
The company would launch three more higher HP tractors in September, its CEO, Antony Cherukara, said, adding that three more tractors would be launched in Germany, including an electric one, in November."Investment of Rs 100 crore in R&D is planned and a global R&D centre will be set up", a company statement quoted him as saying.
VST Tillers Tractors shifts Bangalore tractor operations to Hosur business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
VST Tillers Tractors rose 3.66% to Rs 1847.65 after the company's total sales jumped to 3,787 units in March 2021, up 91.75% as against 1,975 units sold in March 2020.
The company sold 3056 units of power tillers in March 2021, higher than 1585 units sold in March 2020. Total tractor sales stood at 731 units last month, higher than 390 units sold in the same period last year.
VST Tillers Tractors is engaged in the manufacturing of power tillers and tractors.
The company's net profit surged to Rs 30.83 crore in Q3 FY21 from Rs 3.47 crore in Q3 FY20. Net sales during the quarter rose 64.51% YoY to Rs 202.87 crore.
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