VST Industries Limited

NSE: VSTIND · Cigarettes & Tobacco Products

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52W Range₹184 – ₹287

Snapshot

Unlock VST Industries Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

VST Industries Limited is primarily engaged in the manufacture, distribution, and trading of cigarettes and unmanufactured tobacco products. Based in Hyderabad, the company operates within the Indian tobacco sector with a history dating back to 1930.

Business Model

The company generates revenue through the production and sale of cigarette brands and the trading of tobacco leaf. It leverages a distribution network to supply products across domestic and international markets.

Growth Outlook

Growth is primarily driven by brand portfolio expansion and the optimisation of supply chain efficiencies within the competitive tobacco industry. Future performance remains contingent on market penetration strategies and consumer demand trends.

Key Risks

  • Regulatory Environment. The tobacco industry faces stringent government regulations, including high excise duties and health-related marketing restrictions.
  • Health Consciousness. Increasing global awareness regarding the health risks associated with tobacco consumption may lead to a decline in long-term demand.
  • Input Cost Volatility. Fluctuations in the price and quality of raw tobacco leaf can significantly impact manufacturing margins.
  • Illicit Trade. The proliferation of smuggled and non-tax-paid cigarettes poses a significant threat to the market share of legitimate manufacturers.

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Key Metrics

REVENUE

₹2,887 Cr

TTM · standalone

+61.4%YoY

NET PROFIT

₹260 Cr

TTM · standalone

-14.5%YoY

EPS

₹15.33

TTM · standalone

-14.5%YoY

RETURN ON EQUITY

20.1%

TTM · standalone

-3.9 ppYoY

RETURN ON CAPITAL EMPLOYED

26.2%

TTM · standalone

-3.7 ppYoY

P/E

12.2×

Q2 FY27 · standalone

12.2 vs 4.3x5Y avg

EV/EBITDA

7.1x

Q2 FY27 · standalone

7.1 vs 7.7x5Y avg

EBITDA MARGIN

15.5%

TTM · standalone

-3.2 ppYoY

NET PROFIT MARGIN

4.9%

Q2 FY27 · standalone

-8.2 ppYoY

DEBT TO EQUITY

0.0x

Q2 FY27 · standalone

+0.00xYoY

Peers · Cigarettes & Tobacco Products

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
VST Industries LimitedVSTIND
₹3,172 Cr12.2×7.0961.4%15.5%20.1%26.2%-28.5%
ITC Ltd.ITC
₹3.34L Cr16.8×11.9411.8%29.2%28.3%35.1%-36.6%
Godfrey Phillips India Ltd.GODFRYPHLP
₹26,518 Cr19.4×16.2853.5%14.7%23.9%25.0%-44.8%
Elitecon International LimitedELITECON
₹1,049 Cr4.8×4.44—4.7%81.6%68.6%-95.6%

As of Q2 FY27

Financials