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VST Industries Ltd

₹ 239-0.29%
16 Jan – close price
🔗vsthyd.com•BSE: 509966•NSE: VSTIND
Market Cap₹ 4,067 Cr.
Current Price₹ 239
High / Low₹ 350
Stock P/E18.3
Book Value₹ 74.7
Dividend Yield4.18 %
ROCE20.8 %
ROE16.5 %
Face Value₹ 10.0
Sales₹ 1,350 Cr.
OPM21.7 %
Mar Cap₹ 4,067 Cr.

ABOUT

VST Industries is engaged inter-alia in manufacture and trading of Cigarettes, Tobacco and Tobacco products.(Source : 202003 Annual Report Page No: 93)

KEY POINTS

Leading Cigarette ManufacturerThe company is the3rd largest player in the domestic cigarette market, with a significant presence in West Bengal, Andhra Pradesh, Telangana, Bihar, and UP with a8% market sharebased on volume.[1]Its cigarette brandTotalis among thetop 10 brands in the industry.[2]

Also present in buckets:
Red Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Godfrey Phillips2244.8027.5135000.641.41304.9918.711289.03-5.2426.325937.4421.591272.24305.036.0114.750.03
2.Elitecon Inter.78.3954.4212530.650.06117.20–2192.09––3124.249.06230.27101.8836.25–1.09
3.VST Industries239.4518.304067.324.1859.2124.50336.12-6.6420.851350.4121.73222.2159.213.2111.980.00
4.NTC Industries187.0515.16271.580.004.36123.5926.2670.309.2891.4021.0017.914.361.234.570.34
5.Sinnar Bidi Udy.802.2097.2432.090.000.231250.001.7077.08-4.725.344.490.330.236.83-2.180.00
6.Shanthala FMCG32.8017.3021.970.000.7271.4325.82-0.125.9852.711.421.270.720.944.050.02
7.Raghunath Intl.11.724.735.860.000.70-65.520.85–20.401.1321.241.240.700.3515.880.00
–Median: 4 Co.213.2522.918298.990.7388.224.5812.58-5.2420.852237.3221.3226.2480.554.6111.980.18

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
344346302333350363375321360367349298336
Expenses
251251220228271290278248292299280221258
Operating Profit
939582105797297736868707779
Other Income
331616122993098108101112
Profit before tax
1191039010999711157265166677678
Tax %
22%24%23%23%23%24%23%26%26%18%21%26%24%
Net Profit
927969847654885448136535659
EPS in Rs
5.424.654.044.934.473.165.193.152.808.023.123.303.49

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
7898368839229481,0991,2391,1111,1781,2921,4201,3981,350
Expenses
5715946466756547468257007679101,0671,1191,057
Operating Profit
218243237248294353415411412383353279293
Other Income
3218202025394742477680135141
Interest
0000000000000
Depreciation
27323137394142353030384447
Profit before tax
224229227231279351420417428429395370387
Net Profit
150152153152182227304311320327302290305
EPS in Rs
8.848.969.018.9210.7113.3517.9018.2918.8519.2517.7517.1017.93
Dividend Payout %
72%71%71%76%66%65%52%57%68%71%77%80%–

Compounded Sales Growth

10 Years:5%
5 Years:2%
3 Years:6%
TTM:-5%

Compounded Profit Growth

10 Years:4%
5 Years:-7%
3 Years:-13%
TTM:-9%

Stock Price CAGR

10 Years:5%
5 Years:-6%
3 Years:-6%
1 Year:-24%

Return on Equity

10 Years:30%
5 Years:27%
3 Years:23%
Last Year:16%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
1515151515151515151515170170
Reserves
3133313555245676497729251,0591,1641,2371,1531,098
Borrowings
0000000000000
Other Liabilities
427479457259482541610545516474468493617
Total Liabilities
7558268277981,0641,2051,3971,4861,5911,6541,7201,8161,886
Fixed Assets
209198174220195213187173195590268307289
Gross Block
416.75436.77441.99256.78270.09329.66344.41364.44416.32841.75545.26624.88–
Accumulated Depreciation
207.65238.99267.9836.7775.02116.25157.31191.67221.35251.50276.98317.99–
CWIP
0041134013331004717
Investments
181171162174416575753887971577447532434
Other Assets
3654574504034194164443934154869589761,155
Total Assets
7558268277981,0641,2051,3971,4861,5911,6541,7201,8161,886

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
130118132146420290331286277181167193
Cash from Investing Activity
-183-24-18-264-148-155-144-96477910
Cash from Financing Activity
-113-126-130-130-139-144-177-159-187-224-231-221
Net Cash Flow
-1-6-22-217-2-0-17-5516-18

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
45551155510121217
Inventory Days
255336316257196187182226210205220222
Days Payable
487154444555878474575758
Cash Conversion Cycle
21127026721816213799148147161175180
Working Capital Days
-54-32-1843-44-58-63-58-42-4118122
ROCE %
69%65%58%51%50%56%58%48%42%38%32%21%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters
32.16%32.16%32.16%32.16%32.16%32.16%32.16%32.16%32.16%32.16%32.16%32.16%32.16%
FIIs
1.86%1.64%1.55%1.40%1.39%1.37%1.83%1.82%1.98%1.87%1.60%1.38%1.22%
DIIs
16.62%16.87%17.24%17.54%17.52%15.69%12.64%9.07%8.96%7.22%6.24%6.23%6.31%
Public
49.00%48.96%48.69%48.53%48.57%50.42%53.00%56.77%56.71%58.57%59.81%60.03%60.11%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

VST Industries Recommends Final Dividend of Rs. 12 Per Share; Sets Record Date

17th April 2026, 12:54 am

VST Industries recommends final dividend of Rs. 12 per share; record date July 10, 2026

17th April 2026, 12:51 am

VST Industries Reports Strong FY26 Results: EBITDA Surges 61% to ₹450 Cr, Net Cigarette Revenue Up 25% to ₹1151 Cr

17th April 2026, 12:47 am

VST Industries Reports Stable Annual Profit of ₹292 Crore Amid Significant One-Time Depreciation and Inventory Surge

17th April 2026, 12:07 am

VST Industries Confirms SEBI Dematerialisation Compliance for Quarter Ended March 31, 2026

8th April 2026, 7:37 pm

Published by Other Websites

External media mentions & references

VST Industries Q4 Profit Jumps 120% on Asset Sale, Faces Tax Pressure

16th April 2026, 8:13 pm

Wipro, HDFC Firms Lead Stocks to Watch as Markets Rally on Peace Hopes

16th April 2026, 8:00 am

Earnings Alert: Wipro, Angel One, HDFC AMC Lead Q4 Result Announcements Today

16th April 2026, 7:49 am

Damani's Zero-Debt Bet Yields 4.5%, Kacholia's Chemical Star Soars

20th March 2026, 6:09 am

Indian Stocks Mixed: Cigarette Firms Rally, Ola Electric Gains, Dabur Dips

18th February 2026, 2:33 pm

News Articles

Editorial & research coverage

Cigarette Stocks Surge on Price Hikes Amid Tax Uncertainty
Cigarette Stocks Surge on Price Hikes Amid Tax Uncertainty

6th February 2026, 9:02 pm

India Budget 2026: FMCG Sector Gets Boost, Sin Goods Face Hikes
India Budget 2026: FMCG Sector Gets Boost, Sin Goods Face Hikes

1st February 2026, 2:22 pm

VST Industries: Profit Plummets, New CEO Takes Helm
VST Industries: Profit Plummets, New CEO Takes Helm

29th January 2026, 2:30 pm

Tobacco Tax Shock! ITC Crashes to 52-Week Low as New Duties Hit - What Investors Need to Know!
Tobacco Tax Shock! ITC Crashes to 52-Week Low as New Duties Hit - What Investors Need to Know!

2nd January 2026, 12:01 pm

Market Hits New Highs! But Is It All Smooth Sailing? Top Stocks Surge Amid Mixed Signals!
Market Hits New Highs! But Is It All Smooth Sailing? Top Stocks Surge Amid Mixed Signals!

1st December 2025, 2:29 pm

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

10 Jan - Certificate of compliance under regulation 74(5) of SEBI(Depositories and Participants) Regulations, 2018 for the quarter ended 31st December, 2025

Closure of Trading Window
Announcement under Regulation 30 (LODR)-Newspaper Publication

10 Dec 2025 - Publication of Notice reg. Special Window for Re-lodgement of Transfer Requests of Physical shares

Disclosure Under Regulation 30 Of SEBI (LODR) Regulations

9 Dec 2025 - SPDCTL assessment order (03.12.2025) for ₹21,27,503 reclassifying supply industrial→commercial, received 09.12.2025.

Announcement under Regulation 30 (LODR)-Press Release / Media Release

29 Oct 2025 - H1 FY26 cigarette revenue Rs729cr (+9.8%), EBITDA Rs156cr (+10%), PAT Rs115.3cr (+14%), volumes +10.3%.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2012

(from nse)

Credit Ratings

Rating update

14 May 2025 from crisil

Rating update

14 May 2024 from crisil

Rating update

16 May 2023 from crisil

Rating update

21 Jun 2022 from crisil

Rating update

17 May 2022 from crisil

Rating update

28 Mar 2022 from crisil

Concalls

No concalls.

Stock Analysis

Description

  1. VST Industries is engaged inter-alia in manufacture and trading of Cigarettes, Tobacco and Tobacco products.(Source : 202003 Annual Report Page No: 93)

Corporate Announcements

16th Apr 26
Impact Rating: 7
VST Industries' board proposed a final dividend of Rs. 12 per equity share. The record date is July 10, 2026, with payment expected within 30 days of shareholder approval at the July 29, 2026 AGM.
16th Apr 26
Impact Rating: 6
VST Industries Limited announced a final dividend of Rs. 12 per equity share of Rs. 10 each. The dividend is subject to shareholder approval at the AGM on July 29, 2026, with a record date set for July 10, 2026.
16th Apr 26
Impact Rating: 8
VST Industries reported robust FY26 financial performance with EBITDA up 61% to ₹450 cr and net cigarette revenue up 25% to ₹1151 cr. Total revenue grew to ₹2042 cr, while PAT remained stable at ₹292.3 cr.
16th Apr 26
Impact Rating: 9
No description available.
8th Apr 26
Impact Rating: 5
VST Industries Limited, through registrar KFin Technologies, has confirmed its compliance with SEBI's Dematerialisation Regulations for the quarter that concluded on March 31, 2026.