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VST Industries Limited Q4 FY26 results press release summary

NSE: VSTIND · BSE: 509966

Results press release of 16 Apr 2026, summarised by AI from the filing.

VST Industries FY26 EBITDA ₹450 cr vs ₹279 cr and net cigarette revenue ₹1151 cr vs ₹921 cr, with a challenging year ahead after extraordinary tax increases.

Key takeaways

  1. FY26 EBITDA EBITDA ₹450 cr vs ₹279 cr, with net cigarette revenue ₹1151 cr vs ₹921 cr.
  2. Outlook Given the extraordinary tax increases, a challenging year awaits the company.
  3. Tax change From 1 February 2026 Compensation Cess on cigarettes was reduced to Nil while GST and Excise Duty were increased significantly.
  4. Volume recovery Volume recovery was supported by the enhanced brand portfolio and disciplined in-market execution.
  5. Middle East Geopolitical instability in the Middle East continues to weigh on the unmanufactured tobacco business.

Original filing on BSE

VST Industries Limited Q1 FY27 results

As filed: Revenue ₹862 cr (+108% year on year), EBITDA ₹49.7 cr (−35% year on year), PAT ₹42.4 cr (−24% year on year), EBITDA margin 5.8% (−1,000 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹689 cr (+52% year on year), EBITDA ₹208 cr (+202% year on year), PAT ₹117 cr (+120% year on year), EBITDA margin 30.2% (+1,000 bps). Score 100 of 100, Above trend. Revenue, EBITDA and profit growth were well above the company's own trend. EBITDA margin rose 1000 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: +7.7% in 29 days (Nifty 500: −0.6%).
  • Q3 FY26: Revenue ₹492 cr (+4% year on year), EBITDA ₹85.9 cr (+25% year on year), PAT ₹60.2 cr (−56% year on year), EBITDA margin 17.5% (+282 bps). Score 58 of 100, In line with trend. Revenue growth was in line with the company's own trend; EBITDA growth was well above it; profit growth was below it. EBITDA margin rose 282 bps year on year. Share price after the results: +1.5% in 29 days (Nifty 500: +0.4%).
  • Q2 FY26: Revenue ₹450 cr (−2% year on year), EBITDA ₹78.0 cr (+15% year on year), PAT ₹59.0 cr (+23% year on year), EBITDA margin 17.3% (+258 bps). Score 57 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA growth was above it; profit growth was in line with it. EBITDA margin rose 258 bps year on year. Share price after the results: −1.5% in 30 days (Nifty 500: −0.1%).
  • Q1 FY26: Revenue ₹414 cr (−2% year on year), EBITDA ₹77.0 cr (+5% year on year), PAT ₹56.0 cr (+4% year on year), EBITDA margin 18.6% (+138 bps). Score 52 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA growth was above it; profit growth was in line with it. EBITDA margin rose 138 bps year on year. Revenue fell 9% from last quarter. Share price after the results: −3.8% in 30 days (Nifty 500: −1.0%).
  • Q4 FY25: Revenue ₹454 cr (−5% year on year), EBITDA ₹69.0 cr (−28% year on year), PAT ₹53.0 cr (−40% year on year), EBITDA margin 15.2% (−497 bps). Score 28 of 100, Below trend. Revenue and profit growth were below the company's own trend; EBITDA growth was well below it. EBITDA margin fell 497 bps year on year. Revenue fell 4% from last quarter. Share price after the results: −12.7% in 28 days (Nifty 500: +2.7%).
  • Q3 FY25: Revenue ₹471 cr (+1% year on year), EBITDA ₹69.0 cr (−4% year on year), PAT ₹136 cr (−7% year on year), EBITDA margin 14.7% (−73 bps). Score 47 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA and profit before exceptional items growth were in line with it. EBITDA margin fell 73 bps year on year.
  • Q2 FY25: Revenue ₹461 cr (+2% year on year), EBITDA ₹68.0 cr (−14% year on year), PAT ₹48.0 cr (−37% year on year), EBITDA margin 14.8% (−273 bps). Score 19 of 100, Below trend. EBITDA margin fell 273 bps year on year. Not enough history for a trend yet: scored on growth alone. Profit fell 11% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

VST Industries Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.