1. India Stocks

  2. •

    Consumer Defensive

  3. •

    Tobacco
VST Industries Limited

VST Industries Limited

VSTIND.NS
VST Industries LimitedIN flagNational Stock Exchange of India
268.35
INR
-0.05
- -
45.50BMarket Cap
VST Industries Limited
VSTIND.NS
(National Stock Exchange of India)

Recent

price

268.35

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
34.05
40.04
39.07
46.2
48.86
51.74
54.06
55.72
64.62
72.89
65.34
69.27
75.95
83.43
82.12
86.02
80.68
Revenue per Share
5.59
8.39
7.43
8.84
8.96
9.01
8.92
10.71
13.35
17.9
18.3
18.85
19.25
17.75
17.1
17.21
17.25
Basic EPS, GAAP
2.41
6.85
4.72
4.59
5.52
4.69
5.94
22.06
15.56
18.22
14.12
13.44
-13.09
4.28
8.98
10.36
- -
Free Cash Flow per Basic Share
3.18
4.75
6.87
6.65
7.45
7.66
7.66
8.21
8.49
10.41
9.36
10.36
12.68
13.59
13.59
9.98
- -
Dividend per Share
6.25
6.92
6.96
7.46
7.83
8.32
17.99
19.96
23.5
29.22
36.09
42.81
0.91
50.08
61.06
10
- -
Book Value per Share
15.56
17.08
17.9
19.32
20.4
30.54
31.73
34.27
39.09
46.33
55.36
63.25
69.44
73.73
77.88
85.13
- -
Tangible Book Value per Share
170
170
170
170
170
170
170
170
170
170
170
170
170
170
170
170
170
Basic Weighted Avg Shares
5,784
6,801
6,637
7,847
8,300
8,789
9,183
9,464
10,976
12,381
11,098
11,766
12,901
14,172
13,946
14,607
13,698
Sales/Revenue/Turnover
19.9
28.27
24.56
26.92
25.41
23.48
22.99
26.93
28.4
30.12
34.31
32.43
28.68
24.6
16.8
23.87
17.25
Operating Margin (%)
244
248
225
266
319
310
369
392
413
418
351
301
302
381
445
1,012
462
Depreciation Expense
950
1,425
1,262
1,502
1,522
1,531
1,515
1,819
2,268
3,041
3,108
3,202
3,270
3,016
2,904
2,923
2,930
Net Income, GAAP
29.76
32.35
31.41
32.96
33.46
32.42
34.37
34.91
35.31
27.64
25.52
25.22
23.76
23.59
21.43
25.07
21.53
Effective Tax Rate (%)
16.43
20.95
19.02
19.14
18.34
17.42
16.5
19.22
20.67
24.56
28
27.22
25.35
21.28
20.82
20.01
21.39
Profit Margin (%)
674
875
1,065
1,071
1,377
2,862
3,001
3,370
4,343
5,737
7,275
6,487
3,795
7,422
8,183
11,788
- -
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
2,644
2,902
3,041
3,282
3,467
5,188
5,390
5,821
6,640
7,871
9,404
10,743
11,797
12,524
13,227
14,457
- -
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
156.29
127.45
107.14
122.6
117.18
111.6
67.81
56.44
61.47
67.92
56.03
47.79
88.07
69.63
30.77
48.44
293.11
Return on Capital (%)
156.29
127.45
107.14
122.6
117.18
111.6
67.81
56.44
61.47
67.92
56.03
47.79
88.07
69.63
30.77
48.44
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
170
- -
Market Capitalization
57,137
44,699
52,212

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
12,882
- -
Cash, Cash Equivalents & STI
- -
3,388
- -
Accounts Receivable, Net
- -
641
- -
Inventories
- -
4,846
- -
Total Current Liabilities
- -
4,699
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.91%
9.02%
9.3%
Free Cash Flow
5.32%
-41.96%
15.36%
Net Income, GAAP
7.43%
-1.14%
0.64%
Sales/Revenue/Turnover
5.46%
5.73%
4.75%
Total Cash Common Dividend
- -
- -
-26.53%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,331
3,481
3,618
3,741
14,172
2025
3,206
3,590
3,663
3,486
13,946
2026
2,959
3,730
4,565
- -
14,607

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4.93
4.47
3.16
- -
17.75
2025
3.15
2.8
8.02
3.13
17.1
2026
3.3
3.55
6.87
- -
17.21

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
13.59
2025
- -
- -
- -
- -
13.59
2026
- -
- -
- -
- -
9.98
Similar Companies
Scandinavian Tobacco Group A/S (STBGY)
Gold Flora Corporation (GRAM.NE)
Imperial Brands PLC (IMB.L)
Reynolds American Inc. (RAI)
Charlie's Holdings, Inc. (CHUC)
VST Industries Limited (VSTIND.BO)
Business
VST Industries Limited is a prominent Indian company specializing in the production and sale of cigarettes, along with the trade of unmanufactured tobacco products. The company boasts a significant presence in the domestic cigarette market, ranking as the third-largest player with an approximate 8% volume market share, particularly strong in states like West Bengal, Andhra Pradesh, Telangana, Bihar, and Uttar Pradesh. Its diverse portfolio includes well-known cigarette brands such as Charminar, Charms, Special, Editions, Total, and Moments, catering to various consumer preferences across different price points. Established in Hyderabad, India, in 1930 as Vazir Sultan Tobacco Company Limited, the organization rebranded to VST Industries Limited in April 1983. Beyond manufacturing, VST Industries is also involved in contract farming for tobacco, research and development to enhance tobacco quality and explore new product innovations, and provides export services for tobacco and its by-products to international markets, including Europe, Africa, and Southeast Asia. The company generates revenue primarily through the manufacturing and selling of its cigarette brands and processed tobacco, serving both Indian and global adult consumers. As an associate undertaking of British American Tobacco Plc., VST Industries emphasizes innovation, expanding its product portfolio, and improving operational efficiency to drive growth and maintain its market leadership. Recent corporate actions include announcing a bonus issue, signaling robust financial health and a commitment to shareholder value.