VST Industries quarterly results and financials

VST Industries (VSTIND)₹196.65+0.19%(9 Nov 2026 close)Cigarettes & Tobacco Products

Key facts

In the Jun 2026 quarter (standalone), VST Industries reported sales of ₹256 Cr, down 14.1% from Jun 2025, and net profit of ₹42.16 Cr, down 24.9% year on year. For the year to Mar 2026, sales were ₹1,463 Cr and net profit ₹293 Cr.

Sales (Jun 2026): ₹256 Cr
Net profit (Jun 2026): ₹42.16 Cr
Sales (FY Mar 2026): ₹1,463 Cr
Net profit (FY Mar 2026): ₹293 Cr
EPS (Jun 2026): ₹2.49
Borrowings (Mar 2026): ₹0 Cr

Company filings, standalone accounts; latest reported quarter Jun 2026

VST Industries quarterly results

₹ crore unless stated; each column is a quarter.

VST Industries Quarterly results
	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	350	363	375	321	360	367	349	298	336	372	456	256
Expenses	272	291	279	249	293	300	281	222	259	289	250	208
Operating Profit	78.85	71.87	96.85	72.89	67.87	67.86	69.92	76.85	78.82	85.78	207	49.89
OPM %	23.0%	20.0%	26.0%	23.1%	19.0%	19.1%	20.1%	26.0%	23.0%	23.0%	46.1%	19.0%
Other Income	28.94	8.98	29.96	8.99	7.98	108	9.98	10.98	11.98	8.98	8.98	19.96
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	9.01	10.01	11.02	10.01	11.01	11.01	12.01	12.02	12.01	14.01	63.04	11.02
Profit before tax	98.93	71.05	115	72.01	65.04	166	67.05	75.99	77.95	81.05	155	57.99
Tax %	22.9%	23.9%	23.0%	25.9%	26.0%	18.0%	20.9%	26.0%	24.0%	26.0%	24.0%	26.9%
Exceptional items	0.00	0.00	0.00	0.00	0.00	82.48	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	76.17	54.14	88.33	54.17	48.16	136	53.20	56.14	59.19	60.21	117	42.16
EPS (Rs)	4.46	3.15	5.18	3.14	2.79	8.01	3.11	3.29	3.48	3.54	6.86	2.49

VST Industries profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

VST Industries Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	883	922	947	1,099	1,239	1,110	1,176	1,291	1,419	1,397	1,463	1,420
Expenses	648	678	657	749	828	703	770	913	1,072	1,123	1,019	1,005
Operating Profit	237	248	293	352	414	411	412	382	352	279	449	422
OPM %	27.1%	27.0%	31.0%	32.0%	33.1%	37.1%	35.0%	30.1%	25.0%	20.1%	31.1%	29.7%
Other Income	19.96	19.95	24.97	38.90	46.88	41.92	46.90	75.82	79.89	135	40.89	49.90
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	31.04	37.02	39.03	41.07	42.07	35.04	30.05	30.02	38.07	44.05	101	100
Profit before tax	227	231	279	351	420	417	428	429	395	370	390	372
Tax %	32.0%	33.9%	35.0%	35.0%	28.0%	26.0%	25.0%	24.0%	24.0%	20.9%	25.0%	—
Exceptional items	12.01	0.00	0.99	0.00	0.00	0.00	1.01	0.00	2.01	124	1.01	0.00
Net Profit	154	152	183	228	305	312	321	328	303	291	293	279
EPS (Rs)	9.00	8.91	10.69	13.32	17.88	18.26	18.83	19.23	17.71	17.07	17.19	16.37
Dividend payout %	71.0%	76.0%	66.0%	65.0%	52.0%	57.0%	68.0%	71.0%	77.0%	58.0%	70.0%	—

VST Industries balance sheet

₹ crore, at each year end.

VST Industries Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	15.03	15.02	15.05	15.04	15.03	15.03	15.03	15.03	15.05	15.03	170	171
Reserves	330	354	523	565	646	769	921	1,055	1,162	1,234	1,149	1,270
Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Liabilities	480	458	260	484	543	611	547	518	476	470	495	573
Total Liabilities	826	827	798	1,063	1,204	1,395	1,484	1,590	1,654	1,719	1,814	2,013
Fixed Assets	199	175	221	196	214	188	174	196	592	269	308	245
CWIP	0.00	40.95	0.99	33.99	0.00	12.99	32.99	9.99	0.00	46.94	0.99	0.00
Investments	171	162	174	415	574	751	886	969	576	446	531	557
Other Assets	457	450	403	418	415	444	392	415	486	957	974	1,211
Inventories	367	378	330	253	282	298	297	296	350	455	486	676
Trade receivables	11.97	11.97	11.97	26.92	13.97	14.96	14.96	32.93	42.87	45.93	63.91	46.92
Cash & equivalents	42.13	21.04	20.05	38.10	37.08	37.12	21.05	15.03	20.04	35.07	18.06	35.08
Total Assets	826	827	798	1,063	1,204	1,395	1,484	1,590	1,654	1,719	1,814	2,013

VST Industries cash flow

₹ crore, for each year.

VST Industries Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	118	132	146	420	290	331	286	277	181	167	193	218
Cash from investing activity	2.99	−23.95	−17.96	−263	−148	−155	−144	−95.85	46.94	78.93	9.99	−30.94
Cash from financing activity	−126	−130	−130	−139	−144	−177	−159	−187	−224	−231	−221	−170
Net cash flow	−5.99	−21.97	−1.99	16.96	−1.99	0.00	−16.97	−4.99	4.99	15.96	−17.95	16.96
Capex	24.01	52.08	45.06	45.03	26.01	22.01	46.05	49.05	404	94.02	41.06	42.01
Free cash flow	93.97	80.07	101	377	264	310	240	229	−222	74.99	255	176
CFO / OP %	81.1%	83.1%	90.1%	177.1%	119.1%	105.1%	96.1%	93.1%	72.1%	73.1%	101.1%	76.1%

VST Industries ratios

Working-capital days and returns, by year.

VST Industries Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	5	5	5	11	5	5	5	10	12	12	17	12
Inventory days	337	317	258	197	188	183	227	211	206	221	223	360
Days payable	70	53	43	44	54	86	83	73	56	56	57	65
Cash conversion cycle	271	268	219	163	138	100	149	148	162	176	181	306
Working capital days	−32	−18	43	−44	−58	−63	−58	−42	−4	118	122	146
ROCE %	65.0%	58.0%	51.0%	50.0%	56.0%	58.0%	48.0%	42.0%	38.0%	32.0%	21.0%	28.0%

VST Industries: frequently asked questions

What are the latest quarterly results of VST Industries?

For the Jun 2026 quarter, VST Industries reported sales of ₹256 Cr, down 14.1% year on year and net profit of ₹42.16 Cr, down 24.9% year on year. The operating margin was 19.0%.

What is the annual revenue of VST Industries?

VST Industries' sales for the year to Mar 2026 were ₹1,463 Cr; over the last twelve months they were ₹1,420 Cr.

What is the net profit of VST Industries?

Net profit for the year to Mar 2026 was ₹293 Cr, and ₹279 Cr over the last twelve months. Earnings per share over the same trailing period were ₹16.37.

How much debt does VST Industries have?

VST Industries reported borrowings of ₹0 Cr at Mar 2026, against cash and equivalents of ₹35.08 Cr.

What is the free cash flow of VST Industries?

Cash from operations was ₹218 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹176 Cr.

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