Arthneeti

VST Industries Q2 FY27 Share Price & Earnings Call Analysis

₹187.27+0.29% today
Market cap
₹3,181 Cr
P/E
12.22
ROE
21.04%
PEG
-3.24
Price to sales
2.40
Debt to equity
0.00
52W high / low
₹268 / ₹186
Sales growth (5Y)
5.68%
EBITDA margin
29.15%
Net profit margin
19.89%
Promoter holding
32.16%
Sales (last year)
₹1,328 Cr

VST Industries is engaged inter-alia in manufacture and trading of Cigarettes, Tobacco and Tobacco products.(Source : 202003 Annual Report Page No: 93)

Potential multibaggers · Q2 FY27

This quarter's potential multibaggers
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does VST Industries rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Financials of VST Industries

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

VST Industries

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +32.16%32.16%32.16%32.16%32.16%32.16%32.16%32.16%32.16%32.16%32.16%32.16%
FIIs +1.39%1.37%1.83%1.82%1.98%1.87%1.60%1.38%1.22%1.34%1.79%1.25%
DIIs +17.52%15.69%12.64%9.07%8.96%7.22%6.24%6.23%6.31%6.63%6.03%5.90%
Public +48.57%50.42%53.00%56.77%56.71%58.57%59.81%60.03%60.11%59.69%59.83%60.50%
Others +0.37%0.37%0.37%0.19%0.19%0.19%0.19%0.19%0.19%0.19%0.19%0.19%
No. of Shareholders31,07332,86834,3551,05,8321,22,8571,50,5481,58,7551,54,5211,51,0771,46,8151,48,5181,49,350

Financials of VST Industries

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +350363375321360367349298336373457256241
Expenses +271290278248292299280221258288249207198
Operating Profit797297736868707779862085043
OPM %23%20%26%23%19%19%20%26%23%23%46%19%18%
Other Income +2993098108101112992021
Interest0000000000000
Depreciation9101110111112121214631111
Profit before tax99711157265166677678811555853
Tax %23%24%23%26%26%18%21%26%24%26%24%27%23%
Net Profit +7654885448136535659601174241
EPS in Rs4.473.165.193.152.808.023.123.303.493.556.872.502.42

Financials of VST Industries

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +8368839229481,0991,2391,1111,1781,2921,4201,3981,4651,328
Expenses +5946466756547468257007679101,0671,1191,015941
Operating Profit243237248294353415411412383353279450387
OPM %29%27%27%31%32%33%37%35%30%25%20%31%29%
Other Income +182020253947424776801354159
Interest0000000000000
Depreciation323137394142353030384410199
Profit before tax229227231279351420417428429395370390347
Tax %33%32%34%35%35%28%26%25%24%24%21%25%
Net Profit +152153152182227304311320327302290292260
EPS in Rs8.969.018.9210.7113.3517.9018.2918.8519.2517.7517.1017.2115.34
Dividend Payout %71%71%76%66%65%52%57%68%71%77%58%70%

Financials of VST Industries

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital15151515151515151515170170170
Reserves3313555245676497729251,0591,1641,2371,1531,2761,156
Borrowings +0000000000000
Other Liabilities +479457259482541610545516474468493570735
Total Liabilities8268277981,0641,2051,3971,4861,5911,6541,7201,8162,0162,061
Fixed Assets +198174220195213187173195590268307244229
CWIP0411340133310047100
Investments171162174416575753887971577447532559594
Other Assets +4574504034194164443934154869589761,2131,238
Total Assets8268277981,0641,2051,3971,4861,5911,6541,7201,8162,0162,061

Financials of VST Industries

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +118132146420290331286277181167193218
Cash from Investing Activity +3-24-18-264-148-155-144-96477910-31
Cash from Financing Activity +-126-130-130-139-144-177-159-187-224-231-221-170
Net Cash Flow-6-22-217-2-0-17-5516-1817
Free Cash Flow9480101377264310240229-22275255176
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit81%83%90%177%119%105%96%93%72%73%101%76%

Financials of VST Industries

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days555115551012121712
Inventory Days336316257196187182226210205220222359
Days Payable715444455587847457575866
Cash Conversion Cycle27026721816213799148147161175180305
Working Capital Days-32-1843-44-58-63-58-42-4118122146
ROCE %65%58%51%50%56%58%48%42%38%32%21%28%
10out of 100

Momentum score · price trend

10 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−28.5%24%
Last 6 months−27.7%10%
Last 3 months−14.9%32%

The price is 61.2% below its all-time high of ₹481.25 (6 Sept 2024). Stocks more than 20% below their peak have their score halved, so 20 became 10.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For VST Industries: 0.4 × 24 + 0.4 × 10 + 0.2 × 32 = 20, halved to 10 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What VST Industries's management said in earlier quarters

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