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VST Tillers Tractors Limited (VSTTL), India’s largest power tiller manufacturer, saw a severe decline in its tiller and tractor volumes in April 2018. Total volumes in April 2018 were 1,018 units against 1,964 units in April 2017, decline of 48% yoy
Volumes for power tiller segment were 43% yoy lower. It sold 668 tillers in April 2018 vs. 1,163 tillers in April 2017. Tractor volumes declined 56% yoy in April 2018. The company sold only 350 tractors in April 2018 vs. 801 tractors in April 2017.
VSTTL has seen strong growth in overall volumes over the past few months. Sales growth averaged 39% yoy over the past 7 months. Also, the decline in volumes was on a weak base of April 2017, when volumes were already 20% yoy lower. Hence, the steep decline in the current month comes as a surprise. Further clarity is awaited.