VST Industries Ltd.

BSE: VSTIND509966ISIN INE710A01016

Fast Moving Consumer Goods
Cigarettes & Tobacco Products
BSE 1000

Share price

₹189.90+2.40 (+1.28%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

Splits and bonuses

6 Sep 2024 · Bonus 10:1

52W high: ₹286.40
52W low: ₹183.90
Off 52W high: -33.69%
1M return: -5.50%
3M return: -14.29%
6M return: -26.07%
1Y return: -26.82%
20D avg volume: 23,254
50 DMA: ₹202.46
200 DMA: ₹230.38

Key ratios Standalone

Market cap: ₹3,226 Cr
Current price: ₹189.90
52W high / low: ₹286.40 / ₹183.90
Face value: ₹10.00
P/E: 12.39
P/B: 2.85
EPS (TTM): ₹15.33
Book value / share: ₹66.63
ROE: 22.98%
ROCE: 26.50%
Operating margin: 7.60%
Net margin: 4.86%
Debt / equity: 0.00
Net debt: ₹-23.69 Cr
Interest cover: —
Dividend yield: 6.32%
Dividend / share (TTM): ₹12.00
Payout: 78.28%
Cash conversion cycle: 106.7 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	844.06	861.71	689.40	491.85	450.37	414.12	453.98	470.55	461.04	423.86	475.98	468.42
	20.88	19.78	9.49	9.06	11.95	10.81	9.83	7.89	8.01	9.08	29.53	8.72
	864.94	881.49	698.89	500.91	462.32	424.93	463.81	478.44	469.05	432.94	505.51	477.14
	811.64	823.21	544.34	419.82	383.91	348.94	396.79	413.30	404.37	360.66	390.30	406.12
	122.44	122.79	137.38	212.07	188.43	145.64	201.79	225.84	201.59	157.11	202.81	216.14
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	34.01	35.79	37.66	36.43	31.79	33.39	32.42	35.57	34.10	36.23	34.06	33.58
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	10.82	11.17	63.36	13.89	12.16	11.75	12.35	11.12	10.94	10.08	10.91	10.05
	639.90	654.12	289.42	163.95	159.05	158.65	146.79	45.48	52.72	43.62	50.44	45.20
	53.30	58.28	154.55	81.09	78.41	75.99	67.02	65.14	64.68	72.28	115.21	71.02
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	100.49	—	—	—	—
	53.30	58.28	154.55	81.09	78.41	75.99	67.02	165.63	64.68	72.28	115.21	71.02
	12.26	15.86	37.86	20.86	19.20	19.86	14.02	29.37	17.12	18.70	27.01	17.30
	41.04	42.42	116.69	60.23	59.21	56.13	53.00	136.26	47.56	53.58	88.20	53.72
	2.41	2.50	6.87	3.55	3.49	3.30	3.13	8.02	2.80	34.70	57.11	34.80
Key metrics
	64.12	69.45	217.91	94.98	90.57	87.74	79.37	176.75	75.62	82.36	126.12	81.07
	7.60%	8.10%	31.60%	19.30%	20.10%	21.20%	17.50%	37.60%	16.40%	19.40%	26.50%	17.30%
	4.90%	4.90%	16.90%	12.20%	13.10%	13.60%	11.70%	29.00%	10.30%	12.60%	18.50%	11.50%
	3.90%	—	10.50%	—	6.10%	—	5.00%	—	—	—	—	—
	87.40%	108.10%	51.90%	4.50%	-2.30%	-2.30%	-4.60%	0.50%	—	—	—	—
	-30.70%	-24.40%	120.20%	-55.80%	24.50%	4.80%	-39.90%	153.60%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	2,887	2,046	1,809	1,838	1,673	1,561
	59.21	41.31	34.81	79.60	76.40	46.67
	2,946	2,087	1,844	1,917	1,749	1,607
	2,599	1,697	1,575	1,522	1,320	1,179
	594.68	683.52	786.33	784.15	612.21	516.26
	0.00	0.00	0.00	—	—	—
	143.89	139.27	138.32	129.96	120.33	116.35
	0.00	0.00	0.00	—	—	—
	99.24	101.16	44.49	38.11	30.20	30.10
	1,747	771.07	595.55	182.47	168.46	136.68
	347.22	390.04	269.12	394.69	428.89	428.21
	0.00	0.00	100.49	—	—	—
	347.22	390.04	369.61	394.69	428.89	428.21
	86.84	97.78	79.21	93.12	101.91	107.98
	260.38	292.26	290.40	301.57	326.98	320.23
	15.33	17.21	17.10	195.29	211.75	207.38
Key metrics
	446.46	491.20	414.10	432.80	459.09	458.31
	15.46%	24.00%	22.90%	23.60%	27.40%	29.40%
	9.02%	14.30%	16.00%	16.40%	19.60%	20.50%
	—	26.50%	27.50%	—	—	—
	61.37%	13.10%	-1.50%	9.90%	7.20%	—
	-14.52%	0.60%	-3.70%	-7.80%	2.10%	—
	—	175.86	152.44	—	—	—
	—	0.75	0.67	—	—	—
	—	0.00	0.00	—	—	—
	—	-23.69	-6.34	—	—	—
	—	106.7	85.0	—	—	—
Balance sheet
	—	2,016	1,816	—	—	—
	—	1,375	939.45	—	—	—
	—	23.69	6.34	—	—	—
	—	47.02	64.06	—	—	—
	—	674.97	484.58	—	—	—
	—	—	38.13	—	—	—
	—	244.16	306.84	—	—	—
	—	123.79	127.11	—	—	—
	—	544.97	469.86	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	1,446	1,323	—	—	—
Cash flow
	—	218.27	193.47	—	—	—
	—	-31.38	9.79	—	—	—
	—	-169.54	-221.31	—	—	—
	—	42.41	41.03	—	—	—

Compounded growth

Sales CAGR 3Y: +6.95%
Sales CAGR 5Y: —
Profit CAGR 3Y: -3.67%
Profit CAGR 5Y: —
Sales YoY (TTM): +61.37%
Profit YoY (TTM): -14.52%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 32.16%

Holder	Type	Holding	Previous	Change
Bright Star Investments Pvt. Ltd.	Public	25.95%	—	—
The Raleigh Investment Company Limited	Promoter	23.45%	—	—
Tobacco Manufacturers (India) Limited	Promoter	8.28%	—	—
Radhakishan Shivkishan Damani	Public	3.15%	—	—
Parag Parikh ELSS Tax Saver Fund	Public	1.89%	—	—
The New India Assurance Co. Ltd.	Public	1.51%	—	—
SBI Conservative Hybrid Fund	Public	1.31%	—	—
HDFC Mutual Fund-HDFC Childrens Fund	Public	1.11%	—	—
Rothmans International Enterprises Limited	Promoter	0.43%	—	—
Foreign Institutional Investors	Public	0.00%	—	—

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Godfrey Phillips India Ltd.	27,716	1,776.90	20.26	25.70%	+53.52% TTM	+14.01% TTM	-41.19%
VST Industries Ltd. S	3,226	189.90	12.39	26.50%	+61.37% TTM	-14.52% TTM	-26.82%
ELITECON INTERNATIONAL LIMITED S	1,041	6.51	81.38	7.50%	+414.12% TTM	-59.27% TTM	-96.00%
NTC INDUSTRIES LIMITED	174	119.70	8.68	11.10%	+30.61% TTM	+29.08% TTM	-33.63%
Sinnar Bidi Udyog Ltd.	24	588.65	-93.44	-1.90%	+8.89% TTM	-425.00% TTM	-31.07%
Raghunath International Ltd.	5	9.80	4.50	7.50%	+203.57% TTM	-57.09% TTM	-21.16%

Filings & corporate actions

Recent announcements

Unaudited Financial Results-Press Release28 Oct 2026 · Company Update / Press Release / Media Release
Unaudited Financial Results for the quarter and half year ended 30th September, 2026.28 Oct 2026 · Result / Financial Results
VST Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/10/2026 ,inter alia, to consider and approve the unaudited financial results ....19 Oct 2026 · Board Meeting / Board Meeting
Certificate of compliance under Regulation 74(5) of SEBI (DP) Regulations, 20185 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Closure of Trading Window25 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
95th AGM Scrutinizer Report29 Jul 2026 · AGM/EGM / AGM
Proceedings of the 95th Annual General Meeting.29 Jul 2026 · AGM/EGM / AGM
Unaudited Financial Results-Press Release28 Jul 2026 · Company Update / Press Release / Media Release
Unaudited Financial Results for the quarter ended 30th June, 2026 is enclosed.28 Jul 2026 · Result / Financial Results
VST Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/07/2026 ,inter alia, to consider and approve the unaudited Financial Results20 Jul 2026 · Board Meeting / Board Meeting
Appointment of Mr. Venkateshwaran Sundaram as the CHRO with effect from 13th July, 2026.13 Jul 2026 · Company Update / Change in Management
Certificate of compliance under Regulation 74(5) of SEBI (DP) Regulations, 20187 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Copy of Newspaper Publication reg. Notice of 95th Annual General Meeting of the Company.7 Jul 2026 · Company Update / Newspaper Publication
Business Responsibility and Sustainability Report is enclosed.6 Jul 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Annual Report 2026 enclosed.6 Jul 2026 · AGM/EGM / AGM
Annual Report 2026 enclosed.6 Jul 2026 · Others / Reg. 34 (1) Annual Report
Closure of Trading Window25 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Publication of Notice regarding transfer of unclaimed dividend and equity shares to the Investor Education and Protection Fund23 Jun 2026 · Company Update / Newspaper Publication
Publication of Notice reg. Special Window for Transfer and Dematerialisation of Physical shares21 May 2026 · Company Update / Newspaper Publication
Intimation regarding reaffirmation of Credit Rating15 May 2026 · Company Update / Credit Rating
Annual Secretarial Compliance Report for the financial year ended 31st March, 202613 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Mr. Amit Arora the Chief Human Resources Officer (CHRO) of the Company vide his email dated 22nd April, 2026 has tendered his resignation to pursue other Oppurtunities22 Apr 2026 · Company Update / Change in Management
Record Date for final dividend16 Apr 2026 · Corp. Action / Record Date
Final Dividend and Record Date16 Apr 2026 · Corp. Action / Dividend
Audited Financial Results-Press Release16 Apr 2026 · Company Update / Press Release / Media Release
Audited Financial Results for the year Ended 31st March, 202616 Apr 2026 · Result / Financial Results
Certificate of compliance under Regulation 74(5) of SEBI (DP) Regulations, 20188 Apr 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
VST Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 16/04/2026 ,inter alia, to consider and approve the audited financial results ....8 Apr 2026 · Board Meeting / Board Meeting
Intimation under Regulation 30 of SEBI (LODR) Regulations.8 Apr 2026 · Company Update / General
Outcome of Postal Ballot-Scrutinizer''s Report3 Apr 2026 · AGM/EGM / Postal Ballot
Format of Initial Disclosure to be made by an entity identified as a Large Corporate. <table border=''1px''><tr> <td>Sr. No.</td> <td>Particulars</td> <td>Details</td> ....3 Apr 2026 · Others / Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
Confirmation regarding not falling under Large Corporate criteria with reference to SEBI Circular No.SEBI/HO/DDHS/CIR/P/2018/144.3 Apr 2026 · Company Update / General
Closure of Trading Window25 Mar 2026 · Insider Trading / SAST / Closure of Trading Window
Newspaper publication regarding completion of dispatch of Notice of Postal Ballot and e-voting information.5 Mar 2026 · Company Update / Newspaper Publication
Intimation of Postal Ballot Notice4 Mar 2026 · AGM/EGM / Postal Ballot
Disclosure under Regulation 30(5) of SEBI (LODR) 20152 Mar 2026 · Company Update / General
Resignation of Mr. Sanjay Wali as Director and Whole-time Director of the Company2 Mar 2026 · Company Update / Resignation of Director
Unaudited Financial Results-Press Release29 Jan 2026 · Company Update / Press Release / Media Release
Appointment of Statutory Auditor29 Jan 2026 · Company Update / Appointment of Statutory Auditor/s
Change in Directorate29 Jan 2026 · Company Update / Change in Directorate

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 12.0000	10 Jul 2026	10 Jul 2026	—
Final Dividend - Rs. - 10.0000	3 Jul 2025	3 Jul 2025	—
Bonus issue 10:1	6 Sep 2024	6 Sep 2024	—

Board meetings

28 Oct 2026 Board Meeting - Financial Results
28 Jul 2026 Board Meeting - Financial Results