VST Industries Ltd Share Price – NSE  / BSE

Tobacco Products, Small Cap

Against this backdrop, VST Industries fell 1.76%, ITC declined 2.34%, while Godfrey Phillips India slid 5.29%, as investors reacted to higher prices triggered by the revised tax structure.

From February 2026, cigarettes and tobacco products will attract additional excise duty and cess over and above the highest 40% GST slab, replacing the earlier regime of 28% GST plus compensation cess. The Central Excise Act has also been amended to impose a per-stick excise duty on cigarettes, with rates linked to cigarette length.

According to media reports, the cost of a pack of 10 cigarettes has increased by around Rs 22-Rs 25, while premium 76 mm cigarettes are expected to cost Rs 50-Rs 55 more per pack. Revised maximum retail prices are likely to take effect from February 2 as fresh stock with updated MRPs reaches wholesale markets.

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Revenue from operations (excluding excise duty) declined 1.71% YoY to Rs 373.45 crore in the quarter ended 31 December 2025.

Total expenses rose 1.57% YoY to Rs 419.82 crore in Q3 FY26, compared with Rs 413.30 crore in Q3 FY25. Cost of materials consumed stood at Rs 212.07 crore (down 6.09% YoY), while employee benefits expense increased 2.41% YoY to Rs 36.43 crore during the period under review.

Profit before tax tumbled 51.04% YoY to Rs 81.09 crore in Q3 FY26, as against Rs 165.63 crore in the year-ago period.

EBITDA jumped 26.47% to Rs 86 crore in Q3 FY26 from Rs 68 crore in Q3 FY25. EBITDA margin improved to 23% in Q3 FY26, compared with 18.7% in Q3 FY25.

On a nine-month basis, the company?s standalone net profit fell 26.04% YoY to Rs 175.57 crore in 9M FY26, while revenue from operations slipped 3.91% YoY to Rs 1,007.47 crore.

Meanwhile, based on the recommendation of the Nomination and Remuneration Committee, the board approved the appointment of Piyush Srivastava as an additional director and as managing director & chief executive officer of the company, designated as a Key Managerial Personnel, for a period of five years with effect from 2 March 2026. The appointment is subject to shareholders? approval through a postal ballot, notice of which will be issued in due course.

VST Industries manufactures and distributes cigarettes and tobacco products.

The counter rose 0.45% to Rs 235.55 on the BSE.

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Net profit of VST Industries declined 55.80% to Rs 60.23 crore in the quarter ended December 2025 as against Rs 136.26 crore during the previous quarter ended December 2024. Sales rose 1.81% to Rs 372.97 crore in the quarter ended December 2025 as against Rs 366.34 crore during the previous quarter ended December 2024.

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VST Industries will hold a meeting of the Board of Directors of the Company on 29 January 2026.

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