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VST Industries Ltd (VSTIND)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509966 NSE: VSTIND Cigarettes/Tobacco | Small Cap | VST Industries Share Price

₹260.75 0.10 (0.04%)

As on 01-Jul'26 16:59

VST Industries Ltd (VSTIND)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509966 NSE: VSTIND Cigarettes/Tobacco | Small Cap | VST Industries Share Price

₹260.75 0.10 (0.04%)

As on 01-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹4,427 Cr.
Current Price
₹260.8
52-Week Low / High
₹200 / 319
TTM EPS
₹17.2
TTM Sales
₹2,042 Cr.
Book Value per Share
₹85.1
P/E Ratio
15.15
Lower than its 5-year historical median
Industry PE
18
Price to Book (P/B)
3.06
Lower than its 5-year historical median
Price to Sales (P/S)
2.17
Lower than its 5-year historical median
EV/EBITDA
8.94
Lower than its 5-year historical median
Dividend Yield
3.84%
Profitability Efficiency
Return on Equity (ROE)
22.60%
Outperforms industry median
Return on Capital Employed (ROCE)
28.71%
Outperforms industry median
Return on Assets (ROA)
16.58%
Operating Profit Margin
19.9%
Net Profit Margin
20.78%
Gross Profit Margin
17.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-1.6%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-21.06%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-3.71%
Asset Quality
Promoter Holding
32.16%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,276 Cr.
Equity
₹169.9 Cr.
Face Value
₹10
All Time Low / High
₹4.52 / 486.70

VST Industries stock performance

Key Ratios
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Check Before You Invest

Valuation

Undervalued

Price Trend

Semi Strong
Q.1 Is VST Industries Ltd a good quality company?
VST Industries Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does VST Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of VST Industries Ltd vs industry peers?
VST Industries Ltd revenue CAGR is 2.43%, compared to the industry median CAGR of 2.43%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of VST Industries Ltd?
Promoters hold 32.16% of the VST Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of VST Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 5.2% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
VST Industries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 63.7%50.9%49.9%56.3%57.9%48.3%42.5%38.1%32.5%28.7%-
Value Creation
Index
3.62.62.63.03.32.62.01.71.41.1-

Growth Parameters

Sales 8839229481,0991,2391,1111,1781,2921,4201,3982,042
Sales YoY Gr.-4.4%2.7%16%12.8%-10.4%6.1%9.7%9.9%-1.6%-
Adj EPS 8.28.210.112.116.517.118.317.917.612.917.2
YoY Gr.-0%23%20.1%35.8%3.6%6.9%-1.9%-1.9%-26.5%-
BVPS (₹) 21.731.734.339.146.355.463.269.373.577.885.1
Adj Net
Profit
140140172206280290310305299220292
Cash Flow from Ops. 132146420290331286277181167193-
Debt/CF from Ops. 0000000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 5.2%2.4%5.9%-1.6%
Adj EPS 5.2%-4.8%-10.9%-26.5%
BVPS15.3%10.9%7.2%5.8%
Share Price 5.4% -4.4% -6.1% -17.1%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
3930.730.633.138.633.630.82724.617.121.1
Op. Profit
Mgn %
26.926.93132.133.53734.929.624.92022
Net Profit
Mgn %
15.815.118.118.822.626.126.323.62115.714.3
Debt to
Equity
00000000000
Working Cap
Days
72629610997908590100116113
Cash Conv.
Cycle
2625515430102336516566

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales8839229481,0991,2391,1111,1781,2921,4201,398
Operating Expenses + 6466756547468257017679101,0671,119
Manufacturing Costs11131417182728302936
Material Costs435468470550599479514621755797
Employee Cost 80908992102115116120130138
Other Costs 119104808710580108139154148
Operating Profit 237248294353415410412383353279
Operating Profit Margin (%) 26.9%26.9%31.0%32.1%33.5%36.9%34.9%29.6%24.9%19.9%
Other Income + 20202539474247768035
Exceptional Items 000000000100
Interest 0000000000
Depreciation 31373941423530303844
Profit Before Tax 227231279351420417428429395370
Tax 7379981241161071081029379
Profit After Tax 153152182227304311320327302290
PAT Margin (%) 17.3%16.4%19.2%20.6%24.5%28.0%27.2%25.3%21.2%20.8%
Adjusted EPS (₹)9.08.910.713.417.918.318.919.317.817.1
Dividend Payout Ratio (%)70.60%76.40%65.80%64.70%52.30%56.60%67.50%70.80%76.80%58.50%

Valuation of VST Industries - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 3705395826647879401,0731,1771,2491,321
Share Capital 151515151515151515170
Reserves 3555245676497729251,0581,1621,2341,151
Debt +0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Minority Interest0000000000
Trade Payables6556588314311010397118127
Others Liabilities 371180399427441410392362338350
Total Liabilities 8067751,0391,1741,3711,4611,5691,6361,7051,798

Fixed Assets

Net Fixed Assets +174220195213187173195590268307
Gross Block442257270330344364416842545625
Accumulated Depreciation2683775116157192221252277318
CWIP 4113401333100471
Investments 162174416575753887971577447532
Inventories377329253282298297296349455485
Trade Receivables12122714151533434664
Cash Equivalents 21203837372115203518
Others Assets 1919765267344956406392
Total Assets 8067751,0391,1741,3711,4611,5691,6361,7051,798

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 132146420290331286277181167193
PBT 227231279351420417428429395370
Adjustment 1218165-4-6-14-42-38-83
Changes in Working Capital -41-252266321-18-31-111-99-5
Tax Paid -65-78-101-129-105-107-106-94-91-87
Cash Flow From Investing Activity + -24-18-264-148-155-144-96477910
Capex -52-45-43-26-22-46-48-404-9261
Net Investments 2827-221-122-133-98-56431156-66
Others 0000008191515
Cash Flow From Financing Activity + -130-130-139-144-177-159-187-224-231-221
Net Proceeds from Shares 000000-11-809
Net Proceeds from Borrowing 0000000000
Interest Paid 0000000000
Dividend Paid -130-130-139-144-177-159-176-215-231-231
Others 000000-0000
Net Cash Flow -22-217-2-0-17-5516-18

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)43.0233.4232.4536.4141.9135.9831.829.0624.8622.6
ROCE (%)63.6650.9349.8656.2857.9248.3142.5138.0632.4628.71
Asset Turnover Ratio2.552.861.51.071.081.041.031.041.11.03
PAT to CFO Conversion(x)0.860.962.311.281.090.920.870.550.550.67
Working Capital Days
Receivable Days2.2025.306.4043.805.708.408.9011.10
Inventory Days65.705778.2082.4077.2073.7069.3070.4079.9094.80
Payable Days59.604744.3046.8068.9096.3075.8058.805256.20

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

VST Industries Ltd FAQs

The current trading price of VST Industries on 01-Jul-2026 16:59 is ₹260.8.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 30-Jun-2026 the market cap of VST Industries stood at ₹4,427.4 Cr

The latest P/E ratio of VST Industries as of 30-Jun-2026 is 15.15.

The latest P/B ratio of VST Industries as of 30-Jun-2026 is 3.06.

The 52-week high of VST Industries is ₹318.9 and the 52-week low is ₹199.7.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of VST Industries is ₹2,042 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that VST Industries Ltd is a good quality company.

The key valuation ratios of VST Industries Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of VST Industries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About VST Industries Ltd

VST Industries Ltd. is an India-based company, which is engaged in manufacture of cigarettes containing tobacco and unmanufactured tobacco.The Vazir Sultan Tobacco Company Limited was incorporated on November 10, 1930, under the Hyderabad Companies Act No. IV of 1320 Fasli and now governed under the Companies Act, 1956/2013. The name of the Company was subsequently changed to VST Industries Limited on 30th April, 1983. The Company has its Registered Office at Azamabad, Hyderabad. The Company’s shares are listed on BSE Limited and National Stock Exchange of India Limited.

Business area of the company

The Company has a manufacturing facility at Hyderabad and Toopran (Telangana) and its principal activities are manufacture & sale of cigarettes and unmanufactured tobacco.

Brands of the company

  • SHAH-I-DECCAN  
  • GOLD RESERVE  
  • GOLD PREMIUM  
  • CHARMINAR  
  • START UP  
  • MOMENTS  
  • CHARMS  
  • THINK  
  • VIJAY  
  • SHAAN  
  • XL
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