NSE: VSTIND · BSE: 509966 · ISIN INE710A01016
VST Industries Limited stock analysis
VST Industries Limited ranks #1390 in the TickerSutra evidence-ranked universe with a score of 54/100 and 95% data confidence. The latest captured fundamentals show ROCE of 28.1%, quarterly sales growth of -13.9% and quarterly profit growth of -24.4%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 28.1%
- Low debt/equity of 0×
- No promoter shares are reported as pledged
Risks and constraints
- CFO/EBITDA is below 0.6×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹1,178cr | ₹412cr | ₹320cr | 35.0% |
| 2023 | ₹1,292cr | ₹383cr | ₹327cr | 30.0% |
| 2024 | ₹1,420cr | ₹353cr | ₹302cr | 25.0% |
| 2025 | ₹1,398cr | ₹279cr | ₹290cr | 20.0% |
| 2026 | ₹1,465cr | ₹450cr | ₹292cr | 31.0% |
| TTM | ₹1,423cr | ₹423cr | ₹279cr | 30.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
MANAGEMENT COMMENTARY
Signals from filed documents
While the premium and value segments remained stable, the low-price segment’s performance was lower than industry performance. COMPANY PERFORMANCE Your Company’s volume growth in FY 2025-26 was higher than industry trend after four consecutive years of volume decline and lower performance. Your Company registered a strong growth of ~9% with impressive gains across segments and across geographies.
During the year, we identified deeper digital enablement as one of the pillars of the way forward, while continuing to focus on traceability, monitoring and systems-led visibility as increasingly important to future readiness. ANNUAL REPORT 2025-26 16 VST INDUSTRIES LIMITED 1731 CORPORATE OVERVIEW 2 BUSINESS MODEL Integration that strengthens performance From working with smallholder farmers to delivering differentia
Global importers adopted cautious procurement strategies, focusing on inventory optimisation and staggered buying cycles. This led to slower procurement activity and extended shipment timelines, moderating demand momentum and price realisations in export markets. Consequently, the Indian tobacco industry faced subdued demand amid intensified competition among exporting countries.
• This ensures that development initiatives are targeted, relevant, and aligned with both individual and business needs. Positive 19 Regulatory compliance Risk • Non-compliance increases the costs of running a business. • It reduces our attractiveness as a long-term investment destination.
During FY 2025-26, the GMS application has been further enhanced to strengthen digital traceability, with improvements underway in farm-level data capture, processing traceability, and integration with internal reporting systems, enabling end-to-end traceability of tobacco leaf from farm to factory. Our sustainable sourcing practices cover the following areas: Pesticide and Toxicity Management: We provide farmers wit
Global importers adopted cautious procurement strategies, focusing on inventory optimisation and staggered buying cycles. This led to slower procurement activity and extended shipment timelines, moderating demand momentum and price realisations in export markets. Consequently, the Indian tobacco industry faced subdued demand amid intensified competition among exporting countries.
The effects of such one time increase could last well beyond FY 2026-27. Also, there are multiple headwinds, including supply chain and margin pressures, intense price competition in all segments and threat of illicit. Your Company has a clear strategy to navigate the year.
INSOLVENCY AND BANKRUPTCY CODE 2016 There was no application made or any proceedings pending under the Insolvency and Bankruptcy Code 2016 (31 of 2016) during the financial year. UTILISATION OF FUNDS Your Company has not raised any funds during the year through preferential allotment or Qualified Institutional Placement, as a result question of providing details of utilisation of such funds does not arise. Further, d
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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