Tractor Stocks and Companies in India

The largest Tractor stocks in India by market value are Escorts Kubota (₹27,617 crore), VST Tillers Tractors (₹3,521 crore) and HMT (₹1,908 crore), at prices of 4 Nov 2026.

• Escorts Kubota: ₹2,468.50 | market value ₹27,617 crore | P/E 19.4
• VST Tillers Tractors: ₹4,068.80 | market value ₹3,521 crore | P/E 32.4
• HMT: ₹53.67 | market value ₹1,908 crore
• Indo Farm Equipment: ₹123.26 | market value ₹592 crore | P/E 23.8

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 4 Nov 2026; the score list below uses the weekly figures.

All 4 listed Indian Auto - Tractors companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Auto - Tractors index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. One large company cannot set the reading.

1. Escorts Kubota Ltd₹28,800 cr
2. VST Tillers Tractors Ltd₹3,330 cr
3. HMT Ltd₹1,830 cr
4. Indo Farm Equipment Ltd₹555 cr

4 Tractor companies in the Auto - Tractors industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 4 are listed below, largest first. The largest is Escorts Kubota (₹28,824 crore) and the smallest with a market value is Indo Farm Equipment.

Download all 4 Tractor companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 24% behind NIFTY 500. Earnings across its companies grew 0% on average over the last four reported quarters, close to flat.

Price down, no fundamental support. 0 of 4 companies pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Not ahead of NIFTY 500 on the three-month view this week; 0 of the 4 companies in the industry index above their 200-day average (1 fewer than four weeks earlier); 0 of those 4 pass the momentum test (no change from four weeks earlier); earnings rising at 1 of the 4 that report earnings.

Behind NIFTY 500 by −22.7% over a year, with participation off the floor of its own 26-week range. Earnings not confirming, 1 of 4 members have higher trailing twelve-month earnings than a year ago.

Both lines start at 200 in the same week, so the gap between them tells the 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 set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same 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 or tap any point to read both values and the gap.

Auto - Tractors has done worse than the NIFTY 500 by 29.3% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 10.8%. HMT Ltd is the strongest against the sector itself at +12.9%.

Auto - Tractors has done worse than the NIFTY 500 by 29.3% over 52 weeks and by 10.8% over 13 weeks. 0 of 4 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months).

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Escorts Kubota Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 64.3% evidence confidence.

Indo Farm Equipment Ltd scores well on valuation against its peers or its own history, but its earnings have not yet improved enough to back that up.

HMT Ltd has the strongest one-year price move in Auto - Tractors at −6.6%. It also leads on relative strength against the NIFTY, at −3.2%. 0 of 4 companies we track are ahead of the index on that measure. Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Auto - Tractors itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

3 of 3 Auto - Tractors companies held a results call for April to June 2026. VST Tillers Tractors guided: Outlook through September positive; power-tiller volume growth of 16-20% and power-weeder growth of 50-60% expected to continue; FY27 view deferred until next month pending the next 20 days and remaining monsoon.

From the results calls for April to June 2026.

Big funds, foreign and Indian, cut their stake by 0.7 points over the last two quarters. Founders and promoters kept theirs about the same.

• Spending on new plants and equipment was ₹1,288 crore in the last 12 months, 293% more than a year before.
• Projects still being built grew 43% in a year.
• 1 Auto - Tractors call in the last quarters talked about adding capacity.

Big funds = foreign and Indian institutions, change in their share of ownership across 4 Auto - Tractors companies, in percentage points.

Ownership and spending as of 10 October 2026.

This is the written read behind the Auto - Tractors figures above: what is actually happening in the industry, in words, with the evidence each claim rests on. It is dated 16 Apr 2026, so the words are older than the numbers. 3 themes are live here, 1 of them rated high severity.

The sector outlook based on the analyzed constituent is deeply troubled. HMT's core manufacturing and commercial capabilities have deteriorated to the point where survival hinges entirely on non-core asset monetization and potential state-backed interventions.

The Auto - Tractors sector, represented in this analysis solely by HMT Ltd (HMT), is experiencing a severe contraction. The demand environment is distinctly DETERIORATING. HMT reported a consolidated revenue of just ₹20.83 crores for Q3 FY26, representing a 28.64% year-on-year collapse and a 19.36% sequential decline from Q2 FY26.

How old this read is: OLD: this read comes from our Auto - Tractors sector brief dated 16 Apr 2026, about 7 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

What is live in this sector right now

Sources: our Auto - Tractors sector brief, 16 Apr 2026.

Escorts Kubota Ltd has the highest Revenue among the 4 Auto - Tractors companies compared here, at ₹12,248 crore. VST Tillers Tractors Ltd is next at ₹1,270 crore. The same company also has the highest Revenue growth, at 20.4%. 4 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Escorts Kubota Ltd is the largest at ₹12,248 crore, 864.4% ahead of VST Tillers Tractors Ltd. Escorts Kubota Ltd's growth is 20.4% from a ₹12,248 crore base, with 15 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Escorts Kubota Ltd is both the largest and the fastest-growing company here; the growth has to turn into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Escorts Kubota Ltd's revenue growth slows for two consecutive comparable reports while its 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.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Indo Farm Equipment Ltd has the highest OPM among the 4 Auto - Tractors companies compared here, at 13.1%. VST Tillers Tractors Ltd is next at 13%. HMT Ltd has the highest Margin change at +5 percentage points, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Indo Farm Equipment Ltd leads opm at 13.1%; HMT Ltd leads margin change at +5 percentage points.

What this means: Indo Farm Equipment Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

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.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

Escorts Kubota Ltd has the highest Net profit among the 4 Auto - Tractors companies compared here, at ₹1,383 crore. VST Tillers Tractors Ltd is next at ₹108 crore. VST Tillers Tractors Ltd has the highest Profit growth at −5.3%, so level and change sit with different companies. Its Net profit series carries 15 reported observations across the 20-quarter window.

What the numbers say: Escorts Kubota Ltd earns the most, ₹1,383 crore of profit over the last 12 months, 12.8× the profit of VST Tillers Tractors Ltd. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Escorts Kubota Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

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 profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

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%. The same company also has the highest ROCE change, at +3 percentage points. 4 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Escorts Kubota Ltd leads ROCE at 13.9%, 0.2 percentage points above VST Tillers Tractors Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: Escorts Kubota Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

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.

Return on capital · company comparison

Withheld from this chart: Escorts Kubota Ltd (ESCORTS): its two data sources disagree by up to 13% on reported income across 14 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.

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

Indo Farm Equipment Ltd has the lowest PEG among the 4 Auto - Tractors companies compared here, at 0.38×. VST Tillers Tractors Ltd is next at 1.7×. Escorts Kubota Ltd has the lowest P/E at 20.2×, so level and change sit with different companies. 2 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Indo Farm Equipment Ltd has the lowest comparable PEG at 0.38×, 77.6% below VST Tillers Tractors Ltd. That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

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 worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

Valuation · company comparison

PEG · lowest PEG

P/E · lowest P/E

All-company data · latest reported quarter

Auto - Tractors companies show up on 3 of our India lists. The most are on the 52 week high & low list (3 companies).

This Auto - Tractors comparison names 6 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 has second-source figures left out because the two sources disagree. 1 of the 5 ranked sections has fewer than three usable current readings.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• 1 company is missing from the second-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.
• Thin comparisons: Valuation have fewer than three usable current readings.

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 Jun 2026 and market data through 30 October 2026.

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 14 comparable periods, so its derived ratios are withheld.

These 23 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 Jun 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.