VSTINDFast Moving Consumer Goods

VST Industries Limited

Cigarettes & Tobacco Products · ISIN INE710A01016 · BSE 509966 · NSE EQ · FV ₹10
Last price
₹190
+1.36%today
What this company does

VST Industries Limited operates in Cigarettes & Tobacco Products, part of the Fast Moving Consumer Goods sector. It booked ₹844 cr of revenue in its latest quarter (Q2 FY27) and kept 4.9% of sales as profit.

In the report:
67out of 100
Equitytale Health Score
Solid

Healthier than 67% of companies in Fast Moving Consumer Goods, on all six measures of filed financials. Each measure is ranked against the 39–149 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
oversold
RSI (14)
21

At close. Not part of the score.

Profitability & returns55

How much profit it earns on the money it employs

Balance sheet92

How much it owes, and whether earnings cover the interest

Cash quality53

Whether reported profit actually arrives as cash

Growth & consistency55

Whether sales and profit have grown, and how steadily

Valuation66

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 87% vs last year
✓ No promoter shares pledged
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
! Thin 4.9% net margin
! Profit down 31% vs last year

What if I invest in VSTIND?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹190▲ +1.36%
latest close · 2026-11-04
1-year return
-40.8%
52-wk low ₹18452-wk high ₹354
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio19.7Average
LowAverageHigh
P/B ratio2.43Moderate
Below bookModerateHigh
EV / EBITDA12.5Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity12.4%Fair
WeakFairStrong ▸15%
Return on capital15.8%Strong
WeakFairStrong
Net margin4.9%Thin
ThinDecentStrong
EBITDA margin7.6%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Current ratio2.03Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹3,224 cr
Book value
₹78
EPS
₹2.41
latest quarter
Net debt
₹-8 cr
more cash than debt
Enterprise value
₹3,216 cr
EBITDA
₹256 cr
annualised
EBIT
₹213 cr
annualised
Operating margin
6.3%
Return on assets
8.0%
Earnings yield
5.08%
P/S
0.95
Sales / share
₹198.8
Tax rate
23.0%
Face value
₹10
Shares
17.0 cr
Working capital
₹730 cr
Current assets
₹1,439 cr
Current liabilities
₹708 cr
Delivery %
55.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹152 vs market price ₹190 — price is 25% above it
Safety cushion-25.0%(target ≥ +20%)
Models span ₹141–₹163, midpoint ₹152
Model ₹152
Price ₹190
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹844 cr
Other Income₹21 cr
Total Income₹865 cr
Cost of Materials₹122 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹4 cr
Employee Benefit Expense₹34 cr
Finance Costs₹0 cr
Depreciation & Amortisation₹11 cr
Other Expenses₹640 cr
Total Expenses₹812 cr
Profit before Tax₹53 cr
Tax Expense₹12 cr
Net Profit₹41 cr
Net margin on total income4.7%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹127 cr14.7%
Employee benefit expense₹34 cr3.9%
Depreciation & amortisation₹11 cr1.3%
Other expenses₹640 cr74.0%
Tax expense₹12 cr1.4%
Profit for the period₹41 cr4.7%
Total income ₹865 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue689 cr862 cr844 cr
Total income699 cr881 cr865 cr
Expenses544 cr823 cr812 cr
Profit before tax155 cr58 cr53 cr
Tax38 cr16 cr12 cr
Net profit (owners' share)117 cr42 cr41 cr
Net margin (owners' share, on revenue)16.9%4.9%4.9%
EPS (₹)6.872.502.41
YoY (latest quarter): total income +87.1% · net profit -30.7%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹2,061 cr
Shareholder equity
₹1,326 cr
parent shareholders
Total debt
₹0 cr
Cash
₹8 cr
Cash flow · H1 FY27
Operating
₹199 cr
Investing
₹-11 cr
Financing
₹-203 cr
Peer comparison
Fast Moving Consumer Goods · by market value (sector-level match)
CompanyPriceMarket capP/E
Hindustan Unilever Limited₹1,963₹4.61 L cr41.3
ITC Limited₹274₹3.43 L cr20.6
Nestle India Limited₹1,248₹2.41 L cr59.6
Varun Beverages Limited₹408₹1.38 L cr41.6
Britannia Industries Limited₹4,930₹1.19 L cr50.2
Marico Limited₹878₹1.14 L cr51.8
TATA CONSUMER PRODUCTS LIMITED₹1,073₹1.06 L cr56.5
United Spirits Limited₹1,381₹1.00 L cr53.3
Godrej Consumer Products Limited₹830₹84,934 cr40.6
Same sector · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
6.32%
trailing 12 months
Dividend / share (TTM)
₹12
Last dividend
₹12
ex 10 Jul 2026
ActionDetailEx-date
Dividend₹12 / share10 Jul 2026
Dividend₹10 / share3 Jul 2025
Bonus issue1:106 Sep 2024
Dividend₹150 / share14 Jun 2024
Dividend₹150 / share4 Aug 2023
Dividend₹140 / share13 Jul 2022
Who owns it · 2026-09-30
No pledge
Promoter
32.2%
FII / Foreign
1.3%
DII / Domestic
5.9%
Retail / others
60.5%
Smart-money activity
Insider trades
SoldDr. T.L. Lakshmi Narasaiah · Employees/Designated Employees500 · ₹23.8 L30 Aug 24
SoldS. Sriram · Employees/Designated Employees750 · ₹35.2 L30 Aug 24
SoldAnish Gupta · Key Managerial Personnel1,000 · ₹46.4 L30 Aug 24
Bulk / block deals
short— · NSE1,0008 May 26
SoldNK SECURITIES RESEARCH PRIVATE LIMITED · NSE8.92 L @ ₹275.1517 Apr 26
BoughtNK SECURITIES RESEARCH PRIVATE LIMITED · NSE8.92 L @ ₹274.9317 Apr 26
Stake changes
SoldSBI Mutual Fund under its various schemes→ 3.69% · 65,70510 Mar 25
SoldDerive Trading and Resorts Private Ltd→ 31.52% · 3.70 L3 Sep 24
SoldDerive Trading & Resorts Pvt. Ltd. alongwith PAC→ 33.92% · 3.75 L25 Jul 24
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 23 Jul 2025
See the official result
1
Consideration and adoption of Audited Financial Statements, Report of the Board of Directors and Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
6.22 cr votes for, 14,524 against · 0% of mutual funds and other big investors said no
2
Declaration of dividend of Rs.10/- per equity share.
Backed by 100% of shareholders other than promotersneeded 50%
6.22 cr votes for, 17,910 against · 0% of mutual funds and other big investors said no
3
Mr. S. Thirumalai (DIN 00011899) who retires by rotation and being eligible offers himself for re-appointment and continuation of his directorship as a Non-Executive Director who has attained the age of 76 years.
Backed by 100% of shareholders other than promotersneeded 75%
6.20 cr votes for, 2.72 L against · 3% of mutual funds and other big investors said no
4
Appointment of Mr. Nellaiappan Thiruambalam (DIN 02121182) as an Independent Director.
Backed by 100% of shareholders other than promotersneeded 75%
6.22 cr votes for, 18,901 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 3 named members
owning 32.2% between them · as of 2026-09-30
The Raleigh Investment Company Limited23.45%
Tobacco Manufacturers (India) Limited8.28%
Rothmans International Enterprises Limited0.43%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.