What do the numbers say about VST Industries Ltd. (VSTIND)? Here's a look at its financials, valuation, and ownership data.
VST Industries Revenue Trend
Revenue rose 13.2% to ₹2,087 Cr in FY2026 for VST Industries Ltd., against ₹1,844 Cr the year before.
The 10-year revenue CAGR of 9.0% reflects steady — if not spectacular — top-line expansion from ₹883 Cr to ₹2,087 Cr.
VST Industries Ltd. is a mid-sized cigarettes company by revenue, with a top line of ₹2,087 Cr.
| Year | Revenue | YoY % |
|---|---|---|
| FY2026 | ₹2,087 Cr | +13.2% |
| FY2025 | ₹1,844 Cr | -3.8% |
| FY2024 | ₹1,917 Cr | +9.6% |
| FY2023 | ₹1,749 Cr | +8.8% |
| FY2022 | ₹1,607 Cr | — |
View VST Industries Ltd.'s full 10-year revenue trend with CAGR analysis →
VST Industries Profitability
On the bottom line, not much movement: VST Industries Ltd. reported ₹292 Cr in FY2026, in line with FY2025.
A drop in net margin from 15.7% to 14.0% in FY2026 suggests costs grew faster than revenue.
Per-share earnings moved to ₹17.21 in FY2026 from ₹17.10 in FY2025.
Is VST Industries Undervalued
VST Industries Ltd. shares are currently trading at ₹219.29.
Craytheon calculates intrinsic value using the P/E Ratio, DCF, and EPS Growth models. All three appear in the Valuation Models cards below.
Valuation Models
VST Industries Shareholding Pattern
The promoter group has maintained its 32.2% holding through the last 4 quarters.
On the foreign institutional side, the holding is 1.8% as of June 2026 — up from 1.4%.
Domestic institutions moved their stake down to 6.0% from 6.2% over the past year.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Jun 2026 | 32.2% | 1.8% | 6.0% | 59.8% |
| Mar 2026 | 32.2% | 1.3% | 6.6% | 59.7% |
| Dec 2025 | 32.2% | 1.2% | 6.3% | 60.1% |
| Sep 2025 | 32.2% | 1.4% | 6.2% | 60.0% |
Track quarterly shareholding changes for VST Industries Ltd. →
VST Industries Balance Sheet
Proportional view as of 3 Aug 2026. Hover blocks for details.
Assets
Liabilities & Equity
FY2026 total assets: ₹20.16B (up 11.0% YoY from ₹18.16B).
Top categories: Inventories (33.5%), Cash & ST Investments (28.9%), Other Assets (23.2%).
Of the ₹20.16B in liabilities and equity, 71.7% is shareholder equity, 0.0% is interest-bearing debt, and 28.3% is operating liabilities. Notable shift: Other Liabilities is up 21.9% YoY (₹3.66B → ₹4.46B).
Balance sheet composition — FY 2026
| Category | Value |
|---|---|
| Cash & ST Investments | 5.82B |
| Receivables | 470.19M |
| Inventories | 6.75B |
| Property, Plant & Equipment | 2.44B |
| Investments | 1.39M |
| Intangibles & Goodwill | 216,000 |
| Other Assets | 4.67B |
| Category | Value |
|---|---|
| Equity | 14.46B |
| Trade Payables | 1.24B |
| Other Liabilities | 4.46B |
VST Industries Key Takeaways
Here's the bottom line on VST Industries Ltd. (VSTIND) based on the latest available financials.
Revenue of ₹2,087 Cr in FY2026, up 13.2% year-over-year.
Long-term revenue has been compounding at 9.0% annually over 10 years.
The company is profitable, with a net margin of 14.0% and net income of ₹292 Cr.
Unlock Full Analysis
There's more to the story. Craytheon's full profile for VST Industries Ltd. includes three valuation models, decade-long financials, and insider activity.