VST Industries
- Market cap
- ₹ 3,362 Cr.
- P/E
- 54.5x
- P/B
- 2.34x
- 52-week range
- 193.79 – 286.78
- ROE
- 21%
- ROCE
- 28%
- Dividend yield
- 6%
- Debt / equity
- 0
- Sector
- Cigarettes & Tobacco Products
- Industry
- Cigarettes & Tobacco Products
- Listed on
- NSE, BSE
About
VST Industries Limited is an India-based company. The Company is engaged in the manufacturing and sale of cigarettes and unmanufactured tobacco. It has manufacturing facilities in Hyderabad and Toopran (Telangana). Its brands include Total, Editions, Charms, Special, Moments, Editions Trio, Total Spin, and Total Paan Delight. The total brand sells across the country in multiple formats and flavors. Editions is the Company's king-size brand. The Special brand is known for its distinct flavor and is focused on the Eastern parts of India. The Moments have a presence in North India. The Editions Trio offers a three-in-one flavor experience in a stylish format. The Total Spin is a king-size variant, which offers smoke and refreshing mint. The Total Paan Delight is a paan capsule targeting discerning value consumers seeking an indigenous flavored rice.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Cigarettes & Tobacco Products: 7 companies →VST Industries against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)54.5 against a typical 8.9: pricier than most peers (1st = cheapest).6th of 7
- Sales growth−14.1% against a typical −10.2% from a year earlier.4th of 5
- Profit growth−25% against a typical −34.7% from a year earlier.3rd of 6
- Share price, 3 months−11.8% against a typical −15.4%.2nd of 6
- Size₹ 3,361.6 Cr. market value against a typical ₹ 178.5 Cr. (1st = largest).2nd of 7
Latest announcements
Exchange filings and their impact on the company.
- 28 Oct 2026Outcome of Board MeetingHigh impactNegativeWeak Q2 with net sales down about 28% and profit down about 31% after February 2026 cigarette tax changes.
VST Industries reported unaudited results for the quarter and half year ended 30 September 2026. Gross sales were Rs 844.1 cr in Q2 with excise duty of Rs 602.7 cr, leaving net sales of about Rs 241 cr versus about Rs 336 cr a year ago, while Q2 profit after tax fell to Rs 41.0 cr from Rs 59.2 cr and EPS fell to Rs 2.41 from Rs 3.49. The company said gross sales and excise figures are not comparable after the government cut compensation cess to nil from 1 February 2026 and raised GST and excise sharply, and the results point to continued pressure on volumes, margins and earnings.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA+ by CRISIL- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Crisil AA+ | Stable | 14 May 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 14 May 2026 | Reaffirmed | Crisil AA+ | — | CRISIL | ₹ 100 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 28 Oct 2026Upcoming | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 28 Jul 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 16 Apr 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2026 and dividend |
| 29 Jan 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 29 Oct 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 22 Jul 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
| 25 Apr 2025 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2025 and dividend |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 350 | 363 | 375 | 321 | 360 | 367 | 349 | 298 | 336 | 373 | 457 | 256 |
| Expenses | 271 | 290 | 278 | 248 | 292 | 299 | 280 | 221 | 258 | 288 | 249 | 207 |
| Operating Profit | 79 | 72 | 97 | 73 | 68 | 68 | 70 | 77 | 79 | 86 | 208 | 50 |
| OPM % | 23% | 20% | 26% | 23% | 19% | 19% | 20% | 26% | 23% | 23% | 46% | 19% |
| Other Income | 29 | 9 | 30 | 9 | 8 | 108 | 10 | 11 | 12 | 9 | 9 | 20 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 9 | 10 | 11 | 10 | 11 | 11 | 12 | 12 | 12 | 14 | 63 | 11 |
| Profit before tax | 99 | 71 | 115 | 72 | 65 | 166 | 67 | 76 | 78 | 81 | 155 | 58 |
| Tax % | 23% | 24% | 23% | 26% | 26% | 18% | 21% | 26% | 24% | 26% | 24% | 27% |
| Net Profit | 76 | 54 | 88 | 54 | 48 | 136 | 53 | 56 | 59 | 60 | 117 | 42 |
| EPS in Rs | 4.47 | 3.16 | 5.19 | 3.15 | 2.8 | 8.02 | 3.12 | 3.3 | 3.49 | 3.55 | 6.87 | 2.5 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 5%
- 5 Years
- 6%
- 3 Years
- 4%
- TTM
- 4%
- 10 Years
- 8%
- 5 Years
- −1%
- 3 Years
- −4%
- TTM
- 32%
- 10 Years
- 1%
- 5 Years
- −7%
- 3 Years
- −12%
- TTM
- —
- 10 Years
- 28%
- 5 Years
- 23%
- 3 Years
- 19%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| VST Industries | ₹ 193.17 | ₹ 3,362 Cr. | 54.5x | 2.3x | 21% | — |
| ITC | ₹ 257.20 | ₹ 3,22,266 Cr. | 16.8x | 4.9x | 29% | 23.4% |
| Godfrey Phillips India | ₹ 1,670.00 | ₹ 26,049 Cr. | 21.6x | 5.3x | 26.6% | 13.6% |
| NTC Industries | ₹ 123.00 | ₹ 179 Cr. | 10.4x | 1x | 9.3% | 16.9% |
| Golden Tobacco | ₹ 21.00 | ₹ 37 Cr. | 4.4x | — | — | 21.2% |
| Sinnar Bidi Udyog | ₹ 621.00 | ₹ 0 Cr. | — | 6.5x | −3.1% | −2.7% |
Management
- Piyush Srivastava
- Chief Executive Officer, Managing Director, Director
- Anish Gupta
- Chief Financial Officer
- Phani Kumar Mangipudi
- Compliance Officer, Vice President - Legal and Secretarial, Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.