20-quarter listed-company comparison

Auto - Tractors Stocks in India

Auto - Tractors: Escorts Kubota Ltd owns the largest revenue base; VST Tillers Tractors Ltd has the fastest current growth.

Nifty Auto - Tractors Index — Constituents & Performance

The Auto - Tractors companies below are the listed Indian Auto - Tractors universe this page tracks — the same constituent set people search for as the Nifty Auto - Tractors index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

The sector itself · before any single company

How has Auto - Tractors moved against NIFTY 500?

The line below covers 5.1 years. Over the most recent two of them this sector is 22% behind NIFTY 500. Earnings across its companies grew 4% on average over the last four reported quarters — close to flat.

ASLEEP · 1y −5.8%~Price down, no fundamental support1 of 4 companies ahead of NIFTY 500 by 5% or more over three months

RS — · 1/4 >200d (+0) · 1/4 lead (+0) · EPS 2/4↑

Auto - Tractors, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Strength anatomy NarrowHow much of the sector is participating, how recently, and whether the movers score well.

Together1 of 4 stocks moving

Fresh0 crossed in the last 4 weeks

Backed by scoresmovers score −11 vs the sector average

Down the cap ladder — bar is now, tick is four weeks ago

Large 0/10

Mid 0/20

Small 1/10

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 4 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Auto - Tractors outperforming NIFTY 500?

The 52-week comparison of Auto - Tractors against NIFTY 500 is not available from the current market series. 1 of 4 covered companies currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is selective. HMT Ltd is the strongest against the sector itself at +19.4%.

—Sector vs NIFTY 500 · 13 weeks

—Sector vs NIFTY 500 · 52 weeks

1/4Stocks leading NIFTY 500

2/4Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

The 52-week sector comparison is unavailable. 1 of 4 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Escorts Kubota Ltd leads with revenue of ₹11,540 crore, based on 4 of 4 comparable companies through Mar 2026. VST Tillers Tractors Ltd has the fastest current revenue growth at 24.7%, across 4 of 4 comparable companies.

Is the Auto - Tractors sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 1 of 4 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

Which Auto - Tractors company is largest by revenue?

Escorts Kubota Ltd leads with revenue of ₹11,540 crore, based on 4 of 4 comparable companies through Mar 2026.

Which Auto - Tractors company is growing fastest?

VST Tillers Tractors Ltd has the fastest current revenue growth at 24.7%, across 4 of 4 comparable companies.

Which Auto - Tractors company has the strongest 4-Factor Sector Score?

VST Tillers Tractors Ltd ranks first at 64.9/100 with 91% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Auto - Tractors company reports the most CAPEX?

Indo Farm Equipment Ltd reports the largest latest CAPEX at ₹7 crore, with 1 of 4 companies comparable.

Which Auto - Tractors company has the least gross debt?

VST Tillers Tractors Ltd has the lowest comparable gross debt at ₹2 crore. HMT Ltd has the highest at ₹1,029 crore.

Which Auto - Tractors company has the lowest comparable PEG?

VST Tillers Tractors Ltd has the lowest comparable Guarded PEG at 1.71, among 1 of 4 companies that pass the metric’s comparability rules.

How much history does this Auto - Tractors comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies

complete canonical membership

Combined market value

₹39.2K Cr

Escorts Kubota Ltd

Revenue growing

3/4

positive TTM year-on-year growth

Beating NIFTY 500

1/4

positive Mansfield relative strength

Global company selection

00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

VST Tillers Tractors Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 91% evidence confidence.

HMT Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. VST Tillers Tractors Ltd · VSTTILLERS

64.9/100 · Mixed-positive evidence · 91% evidence

Exact sum: 26.7 + 17.7 + 8.5 + 12 = 64.9

Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.

26.7/35Growth & earnings

Revenue 24.7% · PAT 12.6% · OPM change 1 pp

100% evidence

17.7/25Capital efficiency

ROCE 13.7% · debt/equity 0×

100% evidence

8.5/20Valuation

P/E 36.5× · PEG 1.71

85% evidence

12.0/20Relative strength

RS sector 11.6% · RS bench -14.7% · 1Y 7.2%

70% evidence

2. Escorts Kubota Ltd · ESCORTS

60.4/100 · Mixed-positive evidence · 74% evidence

Exact sum: 27.8 + 16.2 + 13.4 + 3 = 60.4

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -8.8% and the one-year return is -14%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

27.8/35Growth & earnings

Revenue 12.7% · PAT 89.3% · OPM change 1 pp

95% evidence

16.2/25Capital efficiency

ROCE 13.9% · debt/equity 0.01×

80% evidence

13.4/20Valuation

P/E 15.3× · PEG —

35% evidence

3.0/20Relative strength

RS sector -8.8% · RS bench -13.9% · 1Y -14%

70% evidence

3. HMT Ltd · HMT

42.3/100 · Mixed-negative evidence · 62% evidence

Exact sum: 11 + 3.8 + 10 + 17.5 = 42.3

Decision use: Price leads the evidence: RS versus the benchmark is 8.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

11.0/35Growth & earnings

Revenue -26.3% · PAT -80% · OPM change -54 pp

65% evidence

3.8/25Capital efficiency

ROCE 5.9% · debt/equity —

76% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

17.5/20Relative strength

RS sector 19.4% · RS bench 8.3% · 1Y -2.3%

100% evidence

4. Indo Farm Equipment Ltd · INDOFARM

41.1/100 · Mixed-negative evidence · 71% evidence

Exact sum: 14.9 + 13.2 + 10 + 3 = 41.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

14.9/35Growth & earnings

Revenue 13.6% · PAT 4.9% · OPM change -0.3 pp

95% evidence

13.2/25Capital efficiency

ROCE 7.4% · debt/equity 0.27×

95% evidence

10.0/20Valuation

P/E 29.6× · PEG —

0% evidence

3.0/20Relative strength

RS sector -29.9% · RS bench -12.1% · 1Y -25.1%

70% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Escorts Kubota Ltd has the highest Revenue among the 4 Auto - Tractors companies compared here, at ₹11,540 crore. VST Tillers Tractors Ltd is next at ₹1,240 crore. VST Tillers Tractors Ltd has the highest Revenue growth at 24.7%, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Escorts Kubota Ltd is the scale leader at ₹11,540 crore, 830.3% ahead of VST Tillers Tractors Ltd. VST Tillers Tractors Ltd's growth is 24.7% from a ₹1,240 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderEscorts Kubota Ltd · ₹11,540 crore

Gap830.3% versus #2 · VST Tillers Tractors Ltd

Persistence6/8 recent comparable periods

Coverage4/4 companies · 61 observations

Investor read: Escorts Kubota Ltd is the scale benchmark; VST Tillers Tractors Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Escorts Kubota Ltd's growth falls below VST Tillers Tractors Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1Escorts Kubota Ltd ESCORTS₹11.5K Cr

2VST Tillers Tractors Ltd VSTTILLERS₹1.2K Cr

3Indo Farm Equipment Ltd INDOFARM⚠ unverified₹440 Cr

4HMT Ltd HMT₹112 Cr

Revenue growthfastest growers

1VST Tillers Tractors Ltd VSTTILLERS25%

2Indo Farm Equipment Ltd INDOFARM⚠ unverified14%

3Escorts Kubota Ltd ESCORTS13%

4HMT Ltd HMT-26%

Revenue · company comparison

4/4 level · 4/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
Escorts Kubota Ltd ESCORTS	₹3.0K Cr	21%	Mar 2026
VST Tillers Tractors Ltd VSTTILLERS	₹328 Cr	9.0%	Mar 2026
Indo Farm Equipment Ltd INDOFARM⚠ unverified	₹134 Cr	3.1%	Mar 2026
HMT Ltd HMT	₹21 Cr	-28%	Dec 2025

Full 20-quarter history · every available company

Revenue · reported quarter history

Escorts Kubota Ltd · ESCORTS

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹2.3K Cr

Mar 2023₹2.2K Cr

Jun 2023₹2.4K Cr

Sep 2023₹2.5K Cr

Dec 2023₹2.7K Cr

Mar 2024₹2.3K Cr

Jun 2024₹2.6K Cr

Sep 2024₹2.3K Cr

Dec 2024₹2.9K Cr

Mar 2025₹2.4K Cr

Jun 2025₹2.5K Cr

Sep 2025₹2.8K Cr

Dec 2025₹3.3K Cr

Mar 2026₹3.0K Cr

HMT Ltd · HMT

Jun 2021₹11 Cr

Sep 2021₹52 Cr

Dec 2021₹31 Cr

Mar 2022₹82 Cr

Jun 2022₹32 Cr

Sep 2022₹4 Cr

Dec 2022₹38 Cr

Mar 2023₹108 Cr

Jun 2023₹46 Cr

Sep 2023₹36 Cr

Dec 2023₹32 Cr

Mar 2024₹49 Cr

Jun 2024₹32 Cr

Sep 2024₹42 Cr

Dec 2024₹29 Cr

Mar 2025₹40 Cr

Jun 2025₹25 Cr

Sep 2025₹26 Cr

Dec 2025₹21 Cr

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹75 Cr

Sep 2024₹86 Cr

Dec 2024₹96 Cr

Mar 2025₹130 Cr

Jun 2025₹96 Cr

Sep 2025₹104 Cr

Dec 2025₹106 Cr

Mar 2026₹134 Cr

VST Tillers Tractors Ltd · VSTTILLERS

Jun 2021₹194 Cr

Sep 2021₹233 Cr

Dec 2021₹208 Cr

Mar 2022₹218 Cr

Jun 2022₹236 Cr

Sep 2022₹234 Cr

Dec 2022₹214 Cr

Mar 2023₹323 Cr

Jun 2023₹246 Cr

Sep 2023₹279 Cr

Dec 2023₹170 Cr

Mar 2024₹273 Cr

Jun 2024₹191 Cr

Sep 2024₹283 Cr

Dec 2024₹219 Cr

Mar 2025₹301 Cr

Jun 2025₹282 Cr

Sep 2025₹315 Cr

Dec 2025₹314 Cr

Mar 2026₹328 Cr

Revenue growth · reported quarter history

Escorts Kubota Ltd · ESCORTS

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202319%

Mar 20243.9%

Jun 20249.3%

Sep 2024-8.1%

Dec 20248.1%

Mar 20256.3%

Jun 2025-2.9%

Sep 202523%

Dec 202511%

Mar 202621%

HMT Ltd · HMT

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022-3.5%

Jun 2022191%

Sep 2022-93%

Dec 202223%

Mar 202332%

Jun 202344%

Sep 2023900%

Dec 2023-16%

Mar 2024-55%

Jun 2024-30%

Sep 202417%

Dec 2024-9.4%

Mar 2025-18%

Jun 2025-22%

Sep 2025-38%

Dec 2025-28%

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 202528%

Sep 202521%

Dec 202510%

Mar 20263.1%

VST Tillers Tractors Ltd · VSTTILLERS

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202222%

Sep 20220.4%

Dec 20222.9%

Mar 202348%

Jun 20234.3%

Sep 202319%

Dec 2023-21%

Mar 2024-15%

Jun 2024-23%

Sep 20241.8%

Dec 202429%

Mar 202510%

Jun 202548%

Sep 202511%

Dec 202543%

Mar 20269.0%

02 · compare level, then change

Operating Economics & Margin Trend

VST Tillers Tractors Ltd has the highest OPM among the 4 Auto - Tractors companies compared here, at 14.2%. Indo Farm Equipment Ltd is next at 13.9%. Escorts Kubota Ltd has the highest Margin change at +1 percentage points, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: VST Tillers Tractors Ltd leads opm at 14.2%; Escorts Kubota Ltd leads margin change at +1 percentage points.

LeaderVST Tillers Tractors Ltd · 14.2%

Gap2.2% versus #2 · Indo Farm Equipment Ltd

Persistence4/8 recent comparable periods

Coverage4/4 companies · 67 observations

Investor read: VST Tillers Tractors Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1VST Tillers Tractors Ltd VSTTILLERS14%

2Indo Farm Equipment Ltd INDOFARM⚠ unverified14%

3Escorts Kubota Ltd ESCORTS13%

4HMT Ltd HMT-111%

Margin changefastest expanders

1Escorts Kubota Ltd ESCORTS+1.0 pp

2VST Tillers Tractors Ltd VSTTILLERS+1.0 pp

3Indo Farm Equipment Ltd INDOFARM⚠ unverified−0.3 pp

4HMT Ltd HMT−54.0 pp

Operating margin · company comparison

4/4 level · 4/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	OPM	Margin change	Reported
VST Tillers Tractors Ltd VSTTILLERS	14%	+1.0 pp	Mar 2026
Indo Farm Equipment Ltd INDOFARM⚠ unverified	14%	−0.3 pp	Mar 2026
Escorts Kubota Ltd ESCORTS	13%	+1.0 pp	Mar 2026
HMT Ltd HMT	-111%	−54.0 pp	Dec 2025

Full 20-quarter history · every available company

OPM · reported quarter history

Escorts Kubota Ltd · ESCORTS

Jun 202114%

Sep 202113%

Dec 202114%

Mar 202213%

Jun 20229.7%

Sep 20227.7%

Dec 20228.0%

Mar 202311%

Jun 202314%

Sep 202311%

Dec 202312%

Mar 202412%

Jun 202412%

Sep 202410%

Dec 202411%

Mar 202512%

Jun 202513%

Sep 202513%

Dec 202513%

Mar 202613%

HMT Ltd · HMT

Jun 2021-253%

Sep 2021-31%

Dec 2021-29%

Mar 2022-58%

Jun 2022-73%

Sep 2022-104%

Dec 2022-44%

Mar 2023-27%

Jun 2023-47%

Sep 2023-56%

Dec 2023-71%

Mar 2024-93%

Jun 2024-67%

Sep 2024-55%

Dec 2024-57%

Mar 2025-162%

Jun 2025-86%

Sep 2025-145%

Dec 2025-111%

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 202416%

Sep 202415%

Dec 202415%

Mar 202514%

Jun 202514%

Sep 202512%

Dec 202513%

Mar 202614%

VST Tillers Tractors Ltd · VSTTILLERS

Jun 202113%

Sep 202116%

Dec 202115%

Mar 202214%

Jun 20227.2%

Sep 202214%

Dec 202211%

Mar 202317%

Jun 202313%

Sep 202315%

Dec 20235.6%

Mar 202414%

Jun 20246.8%

Sep 202413%

Dec 20248.8%

Mar 202513%

Jun 202513%

Sep 202513%

Dec 202513%

Mar 202614%

Margin change · reported quarter history

Escorts Kubota Ltd · ESCORTS

Jun 2021+2.5 pp

Sep 2021−4.8 pp

Dec 2021−4.2 pp

Mar 2022−2.5 pp

Jun 2022−3.9 pp

Sep 2022−5.5 pp

Dec 2022−5.6 pp

Mar 2023−1.7 pp

Jun 2023+4.4 pp

Sep 2023+3.4 pp

Dec 2023+4.0 pp

Mar 2024+1.0 pp

Jun 2024−2.0 pp

Sep 2024−1.0 pp

Dec 2024−1.0 pp

Mar 20250.0 pp

Jun 2025+1.0 pp

Sep 2025+3.0 pp

Dec 2025+2.0 pp

Mar 2026+1.0 pp

HMT Ltd · HMT

Jun 2021−119.5 pp

Sep 2021+29.4 pp

Dec 20210.0 pp

Mar 2022−58.8 pp

Jun 2022+179.9 pp

Sep 2022−72.4 pp

Dec 2022−15.2 pp

Mar 2023+31.1 pp

Jun 2023+26.4 pp

Sep 2023+47.6 pp

Dec 2023−27.0 pp

Mar 2024−66.0 pp

Jun 2024−20.0 pp

Sep 2024+1.0 pp

Dec 2024+14.0 pp

Mar 2025−69.0 pp

Jun 2025−19.0 pp

Sep 2025−90.0 pp

Dec 2025−54.0 pp

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025−2.4 pp

Sep 2025−2.8 pp

Dec 2025−2.7 pp

Mar 2026−0.3 pp

VST Tillers Tractors Ltd · VSTTILLERS

Jun 2021+1.9 pp

Sep 2021−0.7 pp

Dec 2021−0.2 pp

Mar 2022+9.8 pp

Jun 2022−5.9 pp

Sep 2022−2.6 pp

Dec 2022−3.5 pp

Mar 2023+3.1 pp

Jun 2023+5.7 pp

Sep 2023+1.7 pp

Dec 2023−5.4 pp

Mar 2024−2.5 pp

Jun 2024−6.1 pp

Sep 2024−2.3 pp

Dec 2024+3.2 pp

Mar 2025−1.2 pp

Jun 2025+6.3 pp

Sep 2025−0.4 pp

Dec 2025+4.1 pp

Mar 2026+1.0 pp

03 · compare level, then change

Profit Scale & Acceleration

Escorts Kubota Ltd has the highest Net profit among the 4 Auto - Tractors companies compared here, at ₹2,394 crore. VST Tillers Tractors Ltd is next at ₹105 crore. The same company also holds the highest Profit growth, at 89.3%. 4 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Escorts Kubota Ltd leads with ₹2,394 crore of TTM profit, 22.9× the profit of VST Tillers Tractors Ltd. Escorts Kubota Ltd shows 89.3% growth from a ₹2,394 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderEscorts Kubota Ltd · ₹2,394 crore

Gap22.9× versus #2 · VST Tillers Tractors Ltd

Persistence7/8 recent comparable periods

Coverage4/4 companies · 61 observations

Investor read: Escorts Kubota Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Escorts Kubota Ltd ESCORTS₹2.4K Cr

2VST Tillers Tractors Ltd VSTTILLERS₹105 Cr

3Indo Farm Equipment Ltd INDOFARM⚠ unverified₹25 Cr

4HMT Ltd HMT₹-130 Cr

Profit growthfastest growers

1Escorts Kubota Ltd ESCORTS89%

2VST Tillers Tractors Ltd VSTTILLERS13%

3Indo Farm Equipment Ltd INDOFARM⚠ unverified4.9%

Net profit · company comparison

4/4 level · 3/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Net profit	Profit growth	Reported
Escorts Kubota Ltd ESCORTS	₹321 Cr	0.9%	Mar 2026
Indo Farm Equipment Ltd INDOFARM⚠ unverified	₹9 Cr	-35%	Mar 2026
VST Tillers Tractors Ltd VSTTILLERS	₹5 Cr	-79%	Mar 2026
HMT Ltd HMT	₹-27 Cr	-101%	Dec 2025

Full 20-quarter history · every available company

Net profit · reported quarter history

Escorts Kubota Ltd · ESCORTS

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹181 Cr

Mar 2023₹216 Cr

Jun 2023₹290 Cr

Sep 2023₹211 Cr

Dec 2023₹299 Cr

Mar 2024₹270 Cr

Jun 2024₹302 Cr

Sep 2024₹324 Cr

Dec 2024₹321 Cr

Mar 2025₹318 Cr

Jun 2025₹1.4K Cr

Sep 2025₹318 Cr

Dec 2025₹358 Cr

Mar 2026₹321 Cr

HMT Ltd · HMT

Jun 2021₹-43 Cr

Sep 2021₹-33 Cr

Dec 2021₹-27 Cr

Mar 2022₹636 Cr

Jun 2022₹-33 Cr

Sep 2022₹4 Cr

Dec 2022₹-20 Cr

Mar 2023₹-34 Cr

Jun 2023₹-30 Cr

Sep 2023₹-29 Cr

Dec 2023₹-32 Cr

Mar 2024₹2.6K Cr

Jun 2024₹-29 Cr

Sep 2024₹-27 Cr

Dec 2024₹-51 Cr

Mar 2025₹-36 Cr

Jun 2025₹-28 Cr

Sep 2025₹-39 Cr

Dec 2025₹-27 Cr

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹2 Cr

Sep 2024₹4 Cr

Dec 2024₹4 Cr

Mar 2025₹14 Cr

Jun 2025₹5 Cr

Sep 2025₹5 Cr

Dec 2025₹6 Cr

Mar 2026₹9 Cr

VST Tillers Tractors Ltd · VSTTILLERS

Jun 2021₹24 Cr

Sep 2021₹32 Cr

Dec 2021₹21 Cr

Mar 2022₹22 Cr

Jun 2022₹10 Cr

Sep 2022₹23 Cr

Dec 2022₹19 Cr

Mar 2023₹40 Cr

Jun 2023₹33 Cr

Sep 2023₹36 Cr

Dec 2023₹17 Cr

Mar 2024₹35 Cr

Jun 2024₹22 Cr

Sep 2024₹45 Cr

Dec 2024₹1 Cr

Mar 2025₹24 Cr

Jun 2025₹44 Cr

Sep 2025₹25 Cr

Dec 2025₹30 Cr

Mar 2026₹5 Cr

Profit growth · reported quarter history

Escorts Kubota Ltd · ESCORTS

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202365%

Mar 202425%

Jun 20244.1%

Sep 202454%

Dec 20247.4%

Mar 202518%

Jun 2025363%

Sep 2025-1.9%

Dec 202512%

Mar 20260.9%

HMT Ltd · HMT

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023-105%

Jun 2023—

Sep 2023-773%

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025-101%

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025122%

Sep 202538%

Dec 202540%

Mar 2026-35%

VST Tillers Tractors Ltd · VSTTILLERS

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-58%

Sep 2022-28%

Dec 2022-9.5%

Mar 202383%

Jun 2023230%

Sep 202358%

Dec 2023-11%

Mar 2024-13%

Jun 2024-32%

Sep 202423%

Dec 2024-92%

Mar 2025-30%

Jun 202597%

Sep 2025-44%

Dec 20252,277%

Mar 2026-79%

04 · compare level, then change

Capacity Spending & Returns On It

Indo Farm Equipment Ltd has the highest CAPEX among the 4 Auto - Tractors companies compared here, at ₹7 crore. The same company also holds the highest CAPEX intensity, at 8.1%. 1 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Indo Farm Equipment Ltd reports ₹7 crore of CAPEX; Indo Farm Equipment Ltd has the highest covered intensity at 8.1%. Coverage is only 1 of 4 companies and 2 reported observations, so this is partial evidence—not a complete sector rank.

LeaderIndo Farm Equipment Ltd · ₹7 crore

GapNot enough peers

Persistence2/2 recent comparable periods

Coverage1/4 companies · 2 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

CAPEXlargest spenders

1Indo Farm Equipment Ltd INDOFARM⚠ unverified₹7 Cr

CAPEX intensityhighest reinvestment intensity

1Indo Farm Equipment Ltd INDOFARM⚠ unverified8.1%

Capital expenditure · company comparison

1/4 level · 1/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

Withheld from this chart: Escorts Kubota Ltd (ESCORTS) — its two data sources disagree by up to 13% on reported income across 13 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	CAPEX	CAPEX intensity	Reported
Indo Farm Equipment Ltd INDOFARM⚠ unverified	₹7 Cr	8.1%	Mar 2026

Full 20-quarter history · every available company

CAPEX · reported quarter history

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹5 Cr

Sep 2024₹7 Cr

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

CAPEX intensity · reported quarter history

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20246.7%

Sep 20248.1%

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Annual capital allocation · 10-year view

4/4 capacity base · 4/4 OCF · 4/4 CAPEX · 4/4 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

Escorts Kubota Ltd · ESCORTS

Mar 2017₹1.6K Cr

Mar 2018₹1.7K Cr

Mar 2019₹1.7K Cr

Mar 2020₹1.8K Cr

Mar 2021₹1.9K Cr

Mar 2022₹1.9K Cr

Mar 2023₹2.0K Cr

Mar 2024₹2.3K Cr

Mar 2025₹2.2K Cr

Mar 2026₹2.3K Cr

HMT Ltd · HMT

Mar 2017₹85 Cr

Mar 2018₹77 Cr

Mar 2019₹74 Cr

Mar 2020₹73 Cr

Mar 2021₹66 Cr

Mar 2022₹60 Cr

Mar 2023₹48 Cr

Mar 2024₹43 Cr

Mar 2025₹38 Cr

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020₹190 Cr

Mar 2021₹198 Cr

Mar 2022₹214 Cr

Mar 2023₹214 Cr

Mar 2024₹207 Cr

Mar 2025₹223 Cr

Mar 2026₹240 Cr

VST Tillers Tractors Ltd · VSTTILLERS

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023₹275 Cr

Mar 2024₹255 Cr

Mar 2025₹250 Cr

Mar 2026₹250 Cr

Operating cash flow · fiscal-year history

Escorts Kubota Ltd · ESCORTS

Mar 2017₹304 Cr

Mar 2018₹460 Cr

Mar 2019₹-234 Cr

Mar 2020₹797 Cr

Mar 2021₹1.1K Cr

Mar 2022₹32 Cr

Mar 2023₹224 Cr

Mar 2024₹789 Cr

Mar 2025₹1.0K Cr

Mar 2026₹1.4K Cr

HMT Ltd · HMT

Mar 2017₹-661 Cr

Mar 2018₹-108 Cr

Mar 2019₹-43 Cr

Mar 2020₹-269 Cr

Mar 2021₹-71 Cr

Mar 2022₹-50 Cr

Mar 2023₹103 Cr

Mar 2024₹-847 Cr

Mar 2025₹-46 Cr

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020₹28 Cr

Mar 2021₹1 Cr

Mar 2022₹10 Cr

Mar 2023₹30 Cr

Mar 2024₹41 Cr

Mar 2025₹53 Cr

Mar 2026₹30 Cr

VST Tillers Tractors Ltd · VSTTILLERS

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022₹125 Cr

Mar 2023₹36 Cr

Mar 2024₹49 Cr

Mar 2025₹77 Cr

Mar 2026₹132 Cr

CAPEX · reported cash flow · fiscal-year history

Escorts Kubota Ltd · ESCORTS

Mar 2017₹82 Cr

Mar 2018₹111 Cr

Mar 2019₹160 Cr

Mar 2020₹207 Cr

Mar 2021₹152 Cr

Mar 2022₹200 Cr

Mar 2023₹226 Cr

Mar 2024₹545 Cr

Mar 2025₹124 Cr

Mar 2026₹395 Cr

HMT Ltd · HMT

Mar 2017₹1 Cr

Mar 2018₹2 Cr

Mar 2019₹6 Cr

Mar 2020₹9 Cr

Mar 2021₹3 Cr

Mar 2022₹4 Cr

Mar 2023₹-3 Cr

Mar 2024₹3 Cr

Mar 2025₹2 Cr

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021₹16 Cr

Mar 2022₹25 Cr

Mar 2023₹9 Cr

Mar 2024₹3 Cr

Mar 2025₹27 Cr

Mar 2026₹29 Cr

VST Tillers Tractors Ltd · VSTTILLERS

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024₹7 Cr

Mar 2025₹20 Cr

Mar 2026₹26 Cr

Free cash flow · fiscal-year history

Escorts Kubota Ltd · ESCORTS

Mar 2017₹222 Cr

Mar 2018₹349 Cr

Mar 2019₹-394 Cr

Mar 2020₹590 Cr

Mar 2021₹977 Cr

Mar 2022₹-168 Cr

Mar 2023₹-2 Cr

Mar 2024₹244 Cr

Mar 2025₹879 Cr

Mar 2026₹986 Cr

HMT Ltd · HMT

Mar 2017₹-662 Cr

Mar 2018₹-110 Cr

Mar 2019₹-49 Cr

Mar 2020₹-278 Cr

Mar 2021₹-74 Cr

Mar 2022₹-54 Cr

Mar 2023₹106 Cr

Mar 2024₹-850 Cr

Mar 2025₹-48 Cr

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021₹-15 Cr

Mar 2022₹-15 Cr

Mar 2023₹21 Cr

Mar 2024₹38 Cr

Mar 2025₹26 Cr

Mar 2026₹1 Cr

VST Tillers Tractors Ltd · VSTTILLERS

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024₹42 Cr

Mar 2025₹57 Cr

Mar 2026₹106 Cr

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

VST Tillers Tractors Ltd has the lowest Gross debt among the 4 Auto - Tractors companies compared here, at ₹2 crore. Indo Farm Equipment Ltd is next at ₹150 crore. The same company also holds the lowest Net debt, at ₹662 crore net cash. 4 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: VST Tillers Tractors Ltd has the clearest covered balance-sheet capacity with ₹662 crore net cash and gross debt of ₹2 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderVST Tillers Tractors Ltd · ₹2 crore

Gap98.7% versus #2 · Indo Farm Equipment Ltd

Persistence8/8 recent comparable periods

Coverage4/4 companies · 54 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

Gross debtlowest gross debt

1VST Tillers Tractors Ltd VSTTILLERS₹2 Cr

2Indo Farm Equipment Ltd INDOFARM⚠ unverified₹150 Cr

3Escorts Kubota Ltd ESCORTS₹162 Cr

4HMT Ltd HMT₹1.0K Cr

Net debtlowest net debt

1VST Tillers Tractors Ltd VSTTILLERS₹-662 Cr

2Indo Farm Equipment Ltd INDOFARM⚠ unverified₹74 Cr

3HMT Ltd HMT₹817 Cr

Debt and balance-sheet capacity · company comparison

4/4 level · 3/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Gross debt	Net debt	Reported
HMT Ltd HMT	₹1.0K Cr	₹817 Cr	Dec 2025
Escorts Kubota Ltd ESCORTS	₹162 Cr	—	Mar 2026
Indo Farm Equipment Ltd INDOFARM⚠ unverified	₹150 Cr	₹74 Cr	Mar 2026
VST Tillers Tractors Ltd VSTTILLERS	₹2 Cr	₹-662 Cr	Mar 2026

Full 20-quarter history · every available company

Gross debt · reported quarter history

Escorts Kubota Ltd · ESCORTS

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022₹52 Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹57 Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹448 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹105 Cr

Jun 2025—

Sep 2025₹104 Cr

Dec 2025—

Mar 2026₹162 Cr

HMT Ltd · HMT

Jun 2021₹54 Cr

Sep 2021₹46 Cr

Dec 2021₹46 Cr

Mar 2022₹3.8K Cr

Jun 2022₹3.7K Cr

Sep 2022₹3.7K Cr

Dec 2022₹3.7K Cr

Mar 2023₹3.8K Cr

Jun 2023₹3.7K Cr

Sep 2023₹3.7K Cr

Dec 2023₹3.7K Cr

Mar 2024₹1.0K Cr

Jun 2024₹1.0K Cr

Sep 2024₹1.1K Cr

Dec 2024₹1.1K Cr

Mar 2025₹1.0K Cr

Jun 2025₹1.0K Cr

Sep 2025₹1.0K Cr

Dec 2025₹1.0K Cr

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022₹275 Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹281 Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹272 Cr

Jun 2024₹247 Cr

Sep 2024₹249 Cr

Dec 2024₹249 Cr

Mar 2025₹173 Cr

Jun 2025₹173 Cr

Sep 2025₹180 Cr

Dec 2025₹180 Cr

Mar 2026₹150 Cr

VST Tillers Tractors Ltd · VSTTILLERS

Jun 2021₹0 Cr

Sep 2021—

Dec 2021—

Mar 2022₹1 Cr

Jun 2022₹1 Cr

Sep 2022₹1 Cr

Dec 2022₹1 Cr

Mar 2023₹2 Cr

Jun 2023₹2 Cr

Sep 2023₹2 Cr

Dec 2023₹2 Cr

Mar 2024₹1 Cr

Jun 2024₹1 Cr

Sep 2024₹9 Cr

Dec 2024₹9 Cr

Mar 2025₹2 Cr

Jun 2025₹2 Cr

Sep 2025₹2 Cr

Dec 2025₹2 Cr

Mar 2026₹2 Cr

Net debt · reported quarter history

HMT Ltd · HMT

Jun 2021₹-137 Cr

Sep 2021₹-139 Cr

Dec 2021₹-139 Cr

Mar 2022₹3.6K Cr

Jun 2022₹3.6K Cr

Sep 2022₹3.6K Cr

Dec 2022₹3.6K Cr

Mar 2023₹3.5K Cr

Jun 2023₹3.5K Cr

Sep 2023₹3.5K Cr

Dec 2023₹3.5K Cr

Mar 2024₹817 Cr

Jun 2024₹782 Cr

Sep 2024₹827 Cr

Dec 2024₹827 Cr

Mar 2025₹858 Cr

Jun 2025₹823 Cr

Sep 2025₹817 Cr

Dec 2025₹817 Cr

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹238 Cr

Sep 2024₹243 Cr

Dec 2024₹243 Cr

Mar 2025₹62 Cr

Jun 2025₹62 Cr

Sep 2025₹80 Cr

Dec 2025₹80 Cr

Mar 2026₹74 Cr

VST Tillers Tractors Ltd · VSTTILLERS

Jun 2021₹-286 Cr

Sep 2021—

Dec 2021—

Mar 2022₹-354 Cr

Jun 2022₹-354 Cr

Sep 2022₹-279 Cr

Dec 2022₹-279 Cr

Mar 2023₹-409 Cr

Jun 2023₹-369 Cr

Sep 2023₹-336 Cr

Dec 2023₹-336 Cr

Mar 2024₹-481 Cr

Jun 2024₹-484 Cr

Sep 2024₹-449 Cr

Dec 2024₹-449 Cr

Mar 2025₹-553 Cr

Jun 2025₹-556 Cr

Sep 2025₹-613 Cr

Dec 2025₹-613 Cr

Mar 2026₹-662 Cr

06 · compare level, then change

Return On Capital Employed

Escorts Kubota Ltd has the highest ROCE among the 4 Auto - Tractors companies compared here, at 13.9%. VST Tillers Tractors Ltd is next at 13.7%. VST Tillers Tractors Ltd has the highest ROCE change at +3.8 percentage points, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Escorts Kubota Ltd leads ROCE at 13.9%, 0.2 percentage points above VST Tillers Tractors Ltd. VST Tillers Tractors Ltd has the strongest latest improvement at +3.8 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderEscorts Kubota Ltd · 13.9%

Gap1.5% versus #2 · VST Tillers Tractors Ltd

PersistenceNot enough history

Coverage4/4 companies · 31 observations

Investor read: Escorts Kubota Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Escorts Kubota Ltd ESCORTS14%

2VST Tillers Tractors Ltd VSTTILLERS14%

3Indo Farm Equipment Ltd INDOFARM⚠ unverified7.4%

4HMT Ltd HMT5.9%

ROCE changefastest improvers

1VST Tillers Tractors Ltd VSTTILLERS+3.8 pp

2Escorts Kubota Ltd ESCORTS+3.0 pp

3HMT Ltd HMT+1.3 pp

4Indo Farm Equipment Ltd INDOFARM⚠ unverified−0.6 pp

Return on capital · company comparison

4/4 level · 4/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROCE	ROCE change	Reported
VST Tillers Tractors Ltd VSTTILLERS	12%	+3.8 pp	Mar 2026
Indo Farm Equipment Ltd INDOFARM⚠ unverified	7.4%	−0.6 pp	Mar 2026
HMT Ltd HMT	5.9%	+1.3 pp	Dec 2025

Full 20-quarter history · every available company

ROCE · reported quarter history

HMT Ltd · HMT

Jun 2021—

Sep 20210.7%

Dec 2021—

Mar 20221.5%

Jun 2022—

Sep 20221.6%

Dec 2022—

Mar 20231.6%

Jun 2023—

Sep 20231.3%

Dec 2023—

Mar 20245.3%

Jun 2024—

Sep 20244.6%

Dec 2024—

Mar 20255.5%

Jun 2025—

Sep 20255.9%

Dec 2025—

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20242.3%

Sep 20244.8%

Dec 2024—

Mar 20258.0%

Jun 202510%

Sep 20257.9%

Dec 202510%

Mar 20267.4%

VST Tillers Tractors Ltd · VSTTILLERS

Jun 2021—

Sep 202111%

Dec 2021—

Mar 202213%

Jun 2022—

Sep 202211%

Dec 2022—

Mar 202313%

Jun 2023—

Sep 202314%

Dec 202319%

Mar 202410%

Jun 202415%

Sep 20247.4%

Dec 202414%

Mar 20258.4%

Jun 202515%

Sep 202510%

Dec 202515%

Mar 202612%

ROCE change · reported quarter history

HMT Ltd · HMT

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.9 pp

Dec 2022—

Mar 2023+0.1 pp

Jun 2023—

Sep 2023−0.3 pp

Dec 2023—

Mar 2024+3.7 pp

Jun 2024—

Sep 2024+3.3 pp

Dec 2024—

Mar 2025+0.2 pp

Jun 2025—

Sep 2025+1.3 pp

Dec 2025—

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025+7.9 pp

Sep 2025+3.1 pp

Dec 2025—

Mar 2026−0.6 pp

VST Tillers Tractors Ltd · VSTTILLERS

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.1 pp

Dec 2022—

Mar 2023−0.1 pp

Jun 2023—

Sep 2023+2.6 pp

Dec 2023—

Mar 2024−2.4 pp

Jun 2024—

Sep 2024−6.5 pp

Dec 2024−5.7 pp

Mar 2025−1.8 pp

Jun 2025−0.5 pp

Sep 2025+3.0 pp

Dec 2025+1.8 pp

Mar 2026+3.8 pp

07 · compare level, then change

Valuation Against Growth & Quality

VST Tillers Tractors Ltd has the lowest Guarded PEG among the 4 Auto - Tractors companies compared here, at 1.71×. Escorts Kubota Ltd has the lowest P/E at 15.3×, so level and change sit with different companies. 1 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: VST Tillers Tractors Ltd has the lowest comparable Guarded PEG at 1.71×. Only 1 of 4 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderVST Tillers Tractors Ltd · 1.71×

GapNot enough peers

Persistence0/8 recent comparable periods

Coverage1/4 companies · 5 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

Guarded PEGlowest PEG

1VST Tillers Tractors Ltd VSTTILLERS1.7

P/Elowest P/E

1Escorts Kubota Ltd ESCORTS15.3

2Indo Farm Equipment Ltd INDOFARM⚠ unverified29.6

3VST Tillers Tractors Ltd VSTTILLERS36.5

Valuation · company comparison

1/4 level · 3/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Guarded PEG	P/E	Reported
VST Tillers Tractors Ltd VSTTILLERS	1.7	34.2	Mar 2026
Escorts Kubota Ltd ESCORTS	—	24.4	Mar 2026
HMT Ltd HMT	—	0.6	Dec 2025
Indo Farm Equipment Ltd INDOFARM⚠ unverified	—	18.9	Mar 2026

Full 20-quarter history · every available company

Guarded PEG · reported quarter history

VST Tillers Tractors Ltd · VSTTILLERS

Jun 20210.4

Sep 20213.2

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20241.8

Dec 20241.3

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20261.7

P/E · reported quarter history

Escorts Kubota Ltd · ESCORTS

Jun 202118.1

Sep 202120.6

Dec 202128.5

Mar 202229.2

Jun 202227.6

Sep 202239.5

Dec 202241.8

Mar 202338.6

Jun 202343.9

Sep 202347.9

Dec 202339.6

Mar 202432.2

Jun 202442.8

Sep 202448.4

Dec 202433.5

Mar 202533.0

Jun 202538.2

Sep 202533.8

Dec 202534.7

Mar 202624.4

HMT Ltd · HMT

Jun 202110.0

Sep 202111.8

Dec 2021—

Mar 20221.7

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20240.6

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 202537.8

Jun 202531.5

Sep 202538.5

Dec 202534.7

Mar 202618.9

VST Tillers Tractors Ltd · VSTTILLERS

Jun 202117.8

Sep 202123.3

Dec 202126.5

Mar 202220.9

Jun 202225.6

Sep 202225.6

Dec 202225.6

Mar 202321.3

Jun 202326.6

Sep 202334.2

Dec 202335.3

Mar 202422.1

Jun 202429.8

Sep 202436.0

Dec 202436.8

Mar 202532.5

Jun 202534.2

Sep 202538.3

Dec 202553.8

Mar 202634.2

08 · compare level, then change

Enterprise Value & Book Value

Indo Farm Equipment Ltd has the lowest EV/EBITDA among the 4 Auto - Tractors companies compared here, at 9.8×. Escorts Kubota Ltd is next at 15.1×. The same company also holds the lowest P/BV, at 1.31×. 3 of 4 companies report a comparable reading, the latest through Mar 2026. Its EV/EBITDA series carries 5 reported observations across the 20-quarter window.

What the numbers say: Indo Farm Equipment Ltd leads both ev/ebitda at 9.8× and p/bv at 1.31×.

LeaderIndo Farm Equipment Ltd · 9.8×

Gap35.1% versus #2 · Escorts Kubota Ltd

Persistence0/5 recent comparable periods

Coverage3/4 companies · 46 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

EV/EBITDAlowest EV/EBITDA

1Indo Farm Equipment Ltd INDOFARM⚠ unverified9.8

2Escorts Kubota Ltd ESCORTS15.1

3VST Tillers Tractors Ltd VSTTILLERS21.8

P/BVlowest P/BV

1Indo Farm Equipment Ltd INDOFARM⚠ unverified1.3

2Escorts Kubota Ltd ESCORTS2.6

3VST Tillers Tractors Ltd VSTTILLERS3.5

Enterprise and book valuation · company comparison

3/4 level · 3/4 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	EV/EBITDA	P/BV	Reported
HMT Ltd HMT	25.9	-0.9	Dec 2025
VST Tillers Tractors Ltd VSTTILLERS	21.8	4.0	Mar 2026
Escorts Kubota Ltd ESCORTS	15.1	2.7	Mar 2026
Indo Farm Equipment Ltd INDOFARM⚠ unverified	9.8	1.0	Mar 2026

Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Escorts Kubota Ltd · ESCORTS

Jun 202112.2

Sep 202113.1

Dec 202117.2

Mar 202219.1

Jun 202217.6

Sep 202225.4

Dec 202226.7

Mar 202324.1

Jun 202323.3

Sep 202327.8

Dec 202323.4

Mar 202419.6

Jun 202429.8

Sep 202429.9

Dec 202422.4

Mar 202522.1

Jun 202526.3

Sep 202522.9

Dec 202521.5

Mar 202615.1

HMT Ltd · HMT

Jun 202125.9

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 202515.8

Jun 202517.5

Sep 202518.2

Dec 202516.7

Mar 20269.8

VST Tillers Tractors Ltd · VSTTILLERS

Jun 202114.0

Sep 202119.7

Dec 202120.6

Mar 202214.9

Jun 202215.1

Sep 202213.9

Dec 202215.0

Mar 202312.5

Jun 202315.9

Sep 202320.5

Dec 202321.2

Mar 202414.2

Jun 202419.2

Sep 202423.2

Dec 202424.7

Mar 202521.0

Jun 202521.1

Sep 202524.4

Dec 202532.5

Mar 202621.8

P/BV · reported quarter history

Escorts Kubota Ltd · ESCORTS

Jun 20214.6

Sep 20213.9

Dec 20214.8

Mar 20224.2

Jun 20222.6

Sep 20223.6

Dec 20223.6

Mar 20233.3

Jun 20233.6

Sep 20235.1

Dec 20233.8

Mar 20243.6

Jun 20244.9

Sep 20245.1

Dec 20243.7

Mar 20253.7

Jun 20253.6

Sep 20253.8

Dec 20253.5

Mar 20262.7

HMT Ltd · HMT

Jun 2021-0.2

Sep 2021-0.2

Dec 2021-0.2

Mar 2022-0.2

Jun 2022-0.2

Sep 2022-0.2

Dec 2022-0.3

Mar 2023-0.2

Jun 2023-0.2

Sep 2023-0.4

Dec 2023-0.4

Mar 2024-0.3

Jun 2024-0.6

Sep 2024-0.7

Dec 2024-1.2

Mar 2025-0.9

Jun 2025-1.4

Sep 2025-1.2

Dec 2025-0.9

Mar 2026—

Indo Farm Equipment Ltd · INDOFARM⚠ unverified

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20251.4

Jun 20251.5

Sep 20252.0

Dec 20251.8

Mar 20261.0

VST Tillers Tractors Ltd · VSTTILLERS

Jun 20212.6

Sep 20213.3

Dec 20213.4

Mar 20222.8

Jun 20222.9

Sep 20222.5

Dec 20222.5

Mar 20232.4

Jun 20233.0

Sep 20233.8

Dec 20234.0

Mar 20243.4

Jun 20243.9

Sep 20244.3

Dec 20244.5

Mar 20253.4

Jun 20253.4

Sep 20254.4

Dec 20254.8

Mar 20264.0

09 · let price answer last

Market action

VST Tillers Tractors Ltd has the strongest one-year price move in Auto - Tractors at +7.2%. HMT Ltd leads on Mansfield relative strength against NIFTY at +8.3%. 1 of 4 covered companies is above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.

Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Auto - Tractors comparison names 7 specific ways its own evidence can mislead, all listed below. All 4 companies here report on comparable dates, so no rank carries a stale marker. 1 draws at least one figure from a second feed with too little overlap to cross-check. 1 has second-feed figures withheld because the two sources disagree.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
Thin comparisons: Capital expenditure, Valuation have fewer than three usable current readings.

10 · the complete set

Which companies are included?

All 4 companies in the canonical Auto - Tractors membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

Company	Market value	Price	Priced to	Latest fundamentals	Source standing
Escorts Kubota Ltd ESCORTS	₹32.5K Cr	₹2,905	2026-07-19	Mar 2026	Second feed withheld
VST Tillers Tractors Ltd VSTTILLERS	₹3.8K Cr	₹4,417	2026-07-19	Mar 2026	Cross-checked
HMT Ltd HMT	₹2.2K Cr	₹61.4	2026-07-19	Dec 2025	Cross-checked
Indo Farm Equipment Ltd INDOFARMAHEAD⚠ unverified	₹732 Cr	₹152	2026-07-19	Mar 2026	Includes unverified figures

How each company's sources stand: 1 of 4 companies draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. 1 of 4 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Escorts Kubota Ltd (ESCORTS) — its two data sources disagree by up to 13% on reported income across 13 comparable periods, so its derived ratios are withheld.

Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 4 Auto - Tractors companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Mar 2026 · up to 20 quarters per company

Market dataThrough 2026-07-24 · weekly price and relative-strength history

Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Source standing2 cross-checked · 1 unverified · 1 withheld, of 4 graded companies.

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.

Questions investors ask · short, speakable answers

Auto - Tractors company comparison FAQs

These 17 answers restate the Auto - Tractors comparison above in question form. Every one is computed from the same 4 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.

What is the Nifty Auto - Tractors index?

The Nifty Auto - Tractors index tracks India's listed Auto - Tractors companies as a single basket. This page follows the same 4 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Auto - Tractors sector rather than to its largest constituent. Figures are as of Mar 2026.

Which are the best Auto - Tractors stocks in India?

Ranked by this page's four-factor score, VST Tillers Tractors Ltd places first among 4 listed Auto - Tractors companies, followed by Escorts Kubota Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Mar 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Auto - Tractors stocks are listed in India?

This comparison covers 4 listed Auto - Tractors companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Mar 2026.

Which Auto - Tractors company is the biggest?

Escorts Kubota Ltd is the largest, with trailing-twelve-month revenue of ₹11,540 crore, ahead of VST Tillers Tractors Ltd at ₹1,240 crore. That covers 4 of 4 companies with comparable reporting through Mar 2026.

Which Auto - Tractors company is growing fastest?

VST Tillers Tractors Ltd has the fastest revenue growth at 24.7% year on year, across 4 of 4 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Auto - Tractors company has the best profit margins?

VST Tillers Tractors Ltd has the highest operating margin at 14.2%, from 4 of 4 comparable companies. Escorts Kubota Ltd shows the biggest recent improvement, at +1 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Auto - Tractors company makes the most profit?

Escorts Kubota Ltd earns the most, at ₹2,394 crore of trailing-twelve-month net profit, from 4 of 4 comparable companies. Escorts Kubota Ltd has the fastest profit growth at 89.3%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Auto - Tractors company earns the highest return on capital?

Escorts Kubota Ltd leads on return on capital employed at 13.9%, across 4 of 4 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Auto - Tractors stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — VST Tillers Tractors Ltd screens cheapest at 1.71×. Only 1 of 4 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Auto - Tractors company has the strongest balance sheet?

VST Tillers Tractors Ltd carries the lowest comparable gross debt at ₹2 crore, from 4 of 4 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Auto - Tractors stock has the strongest price momentum?

HMT Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Auto - Tractors company scores highest for research priority?

VST Tillers Tractors Ltd scores 64.9 out of 100 with 91% evidence confidence, from 26.7 points on growth and earnings, 17.7 on capital efficiency, 8.5 on valuation and 12 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Auto - Tractors companies does this comparison cover, and over what period?

It compares 4 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Auto - Tractors sector?

The 4 Auto - Tractors companies on this page carry ₹39,239 crore of combined market value. Escorts Kubota Ltd is the largest at ₹32,502 crore, about 83% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

How is the Auto - Tractors sector performing?

1 of the 4 covered Auto - Tractors companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.