VST Industries Limited

NSE: VSTIND · Unclassified

₹194.08+0.88%06 Nov 2026

Ask the data

Instant answers about VST Industries Limited — computed from its filings, no language model

Market cap₹3,297 cr

Current price₹194.08

High / Low₹268 / ₹186

P/E12.7

P/B2.49

Book value₹78.1

ROE19.6%

ROCE26.2%

Debt / equity0.00

Dividend yield5.14%

EPS (TTM)₹15.33

Face value₹10

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 8 periods

	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	1,184	1,370	1,473	1,561	1,673	1,838	1,809	2,046
EBITDA	353	415	411	412	383	353	279	450
Operating margin	29.8%	30.3%	27.9%	26.4%	22.9%	19.2%	15.4%	22.0%
Interest	0	0	0	0	0	0	0	0
Depreciation	41	42	35	30	30	38	44	101
Profit before tax	351	420	417	428	429	395	370	390
Tax	124	116	107	108	102	93	79	98
Net profit	0	304	311	320	327	302	290	292
EPS ₹	146.90	196.93	201.27	207.38	211.75	195.29	17.10	17.21
Operating cash flow	—	—	—	277	181	167	193	218
Capex	—	—	—	251	404	94	41	42
Dividend paid	—	—	—	176	215	231	0	170
Total assets	—	—	—	—	1,654	1,720	1,816	2,016
Equity	—	—	—	—	1,180	1,252	1,323	1,446

Quarterly performance

last 34 quarters · ₹ crore

showing latest 8 of 34 periods

	JUN '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	263	311	316	294	329	323	368	350	315	395	380	383	368	361	431	400	402	440	442	389	441	452	468	476	424	461	471	454	414	450	492	689	862	844
Operating profit	97	90	86	81	115	96	108	95	99	113	100	98	92	104	109	106	113	93	95	82	105	79	72	97	73	68	68	70	77	79	86	208	50	43
Operating margin	36.8%	29.0%	27.3%	27.6%	35.0%	29.9%	29.4%	27.1%	31.5%	28.6%	26.3%	25.7%	25.0%	28.9%	25.3%	26.6%	28.1%	21.1%	21.4%	21.1%	23.9%	17.4%	15.4%	20.3%	17.3%	14.7%	14.5%	15.3%	18.6%	17.5%	17.5%	30.2%	5.8%	5.1%
Other income	7	9	10	11	12	12	11	12	12	15	9	6	9	10	10	17	11	33	16	16	12	29	9	30	9	8	8	10	11	12	9	9	20	21
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	9	11	10	11	9	9	10	13	9	9	9	8	6	7	8	9	7	7	7	8	8	9	10	11	10	11	11	12	12	12	14	63	11	11
Profit before tax	95	89	86	81	118	99	109	94	102	119	100	97	95	107	111	115	117	119	103	90	109	99	71	115	72	65	166	67	76	78	81	155	58	53
Tax	34	32	31	28	42	23	28	24	26	30	26	24	24	28	28	28	30	27	24	21	26	23	17	27	19	17	29	14	20	19	21	38	16	12
Net profit	61	0	0	0	76	0	0	71	76	89	74	73	70	80	83	87	87	92	79	69	84	76	54	88	54	48	136	53	56	59	60	117	42	41
EPS ₹	39.66	36.99	35.90	34.34	49.01	49.42	52.77	45.73	49.03	57.34	47.73	47.17	45.61	51.74	53.56	56.47	56.43	59.68	51.15	44.49	54.20	49.18	34.80	57.11	34.70	2.80	8.02	3.13	3.30	3.49	3.55	6.87	2.50	2.41
Revenue YoY	—	—	—	—	25.2%	3.8%	16.7%	18.8%	-4.4%	22.2%	3.2%	9.4%	16.9%	-8.6%	13.4%	4.6%	9.2%	21.8%	2.4%	-2.8%	9.7%	2.9%	6.0%	22.3%	-3.9%	1.9%	0.5%	-4.6%	-2.3%	-2.3%	4.5%	51.9%	108.1%	87.4%
Profit YoY	—	—	—	—	24.5%	—	—	—	0.0%	—	—	3.1%	-7.0%	-9.8%	12.2%	19.7%	23.7%	15.4%	-4.5%	-21.2%	-3.9%	-17.6%	-32.0%	28.4%	-36.0%	-37.4%	153.6%	-39.9%	4.8%	24.5%	-55.8%	120.2%	-24.4%	-30.7%

Earlier results (standalone, Sep '07 – Mar '18)

₹ crore · from BSE, before the NSE XBRL filings begin

VST Industries Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†
Revenue	678	669	789	836	883	948	1,359
Operating profit	210	180	218	242	237	246	295
Operating margin	30.9%	27.0%	27.6%	29.0%	26.9%	26.0%	21.7%
Other income	25	26	32	19	20	38	24
Depreciation	25	22	27	32	31	37	39
Profit before tax	211	184	224	229	227	247	279
Tax	68	58	74	77	73	80	98
Net profit	143	126	150	152	153	167	182

Quarters

showing latest 8 of 39 periods

	SEP '07†	DEC '07†	JUN '08†	SEP '08†	DEC '08†	JUN '09†	SEP '09†	DEC '09†	JUN '10†	SEP '10†	DEC '10†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†
Revenue	82	92	70	83	128	126	116	127	128	157	138	147	165	170	196	155	176	176	161	177	211	212	189	214	205	198	219	191	204	217	270	254	232	235	228	562	240	257	300
Operating profit	18	26	10	14	32	28	24	27	20	37	41	49	47	55	58	43	43	49	44	40	51	63	64	69	59	49	65	51	48	65	74	67	50	68	62	65	70	80	80
Operating margin	21.9%	28.4%	14.8%	17.4%	25.2%	22.5%	20.2%	21.0%	15.8%	23.6%	30.0%	33.6%	28.7%	32.6%	29.4%	28.0%	24.6%	28.0%	27.4%	22.5%	24.2%	29.9%	33.7%	32.4%	29.0%	24.6%	29.5%	26.5%	23.4%	30.0%	27.3%	26.3%	21.5%	28.8%	27.1%	11.6%	29.2%	31.1%	26.5%
Other income	3	3	7	4	4	9	4	2	7	2	2	5	7	5	7	7	3	5	12	6	3	2	21	3	6	4	6	5	6	5	4	4	9	9	16	6	5	5	8
Interest	1	0	0	0	0	0	0	0	0	0	0	1	0	0	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Depreciation	4	4	4	4	4	4	4	5	5	5	5	5	5	5	9	5	5	6	6	6	6	8	7	7	8	8	9	8	7	7	9	8	9	10	11	9	9	9	11
Profit before tax	17	25	13	15	32	34	24	25	23	35	38	50	50	56	56	45	40	49	50	40	48	58	77	65	57	46	61	48	47	63	69	62	51	67	67	62	65	76	76
Tax	6	8	2	3	11	10	7	7	5	11	12	16	16	18	19	14	13	15	15	13	16	19	26	22	19	15	20	17	16	22	19	21	15	22	22	22	21	26	28
Net profit	11	17	11	11	22	24	17	17	18	24	26	34	34	38	37	31	28	33	35	27	32	39	52	43	38	30	41	31	32	41	49	42	35	45	45	40	44	50	48
EPS ₹	6.97	10.88	6.92	7.28	14.11	15.61	11.11	11.24	11.67	15.55	16.89	22.16	21.76	24.59	23.78	19.76	17.88	21.63	22.49	17.56	21.02	25.06	33.60	27.99	24.57	19.67	26.34	20.03	20.59	26.61	31.92	26.95	22.86	29.27	29.20	25.80	28.57	32.48	31.30
Revenue YoY	—	—	—	1.2%	38.3%	79.6%	40.6%	-0.9%	1.4%	35.1%	9.0%	15.1%	4.7%	23.2%	—	5.4%	6.9%	3.7%	-17.9%	13.9%	19.8%	20.3%	17.5%	21.1%	-3.0%	-6.6%	16.0%	-10.6%	-0.1%	9.6%	23.2%	32.9%	13.3%	8.0%	-15.7%	121.0%	3.4%	9.6%	31.8%
Profit YoY	—	—	—	4.5%	29.6%	125.7%	52.4%	-20.3%	-25.2%	40.0%	50.2%	89.9%	39.9%	45.6%	—	-10.8%	-17.8%	-12.0%	-5.4%	-11.1%	17.6%	15.9%	49.4%	59.4%	16.9%	-21.6%	-21.6%	-28.4%	-16.2%	35.4%	21.2%	34.6%	11.0%	10.0%	-8.5%	-4.4%	24.7%	10.1%	7.2%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 31 periods

	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	—	—	—	—	—	—	—	—	—	—	—	—	—	—	33.9%	33.6%	27.7%	27.4%	27.7%	25.4%	24.1%	21.7%	21.5%	28.7%	22.0%	22.1%	24.0%	18.0%	20.2%	19.3%	19.6%
ROCE	—	—	—	—	—	—	—	—	—	—	—	—	—	—	44.9%	44.1%	36.4%	35.7%	36.2%	33.3%	31.5%	28.6%	28.5%	36.9%	27.9%	28.2%	30.5%	23.9%	27.0%	25.8%	26.2%
Net margin	5.1%	6.1%	6.0%	5.8%	10.7%	10.8%	16.4%	21.4%	21.1%	20.0%	19.9%	19.8%	20.5%	21.1%	20.9%	20.5%	19.6%	18.9%	17.8%	16.1%	16.4%	14.9%	13.3%	17.8%	16.0%	16.3%	17.0%	12.6%	14.3%	11.2%	9.0%
EBITDA margin	29.9%	29.8%	30.0%	30.5%	30.3%	29.4%	29.1%	28.3%	27.9%	26.4%	26.4%	26.2%	26.4%	27.1%	25.2%	24.2%	22.9%	21.9%	20.9%	19.3%	19.2%	17.6%	16.9%	16.7%	15.4%	15.7%	16.4%	17.2%	22.0%	17.0%	13.4%
Debt / equity	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Asset turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.03	1.04	1.01	1.04	1.02	1.04	1.07	1.06	1.09	1.09	1.00	0.99	0.95	0.96	1.01	1.24	1.40

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 9 periods

	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	15	15	15	15	170	170	170	170	170
Other equity / reserves	1,014	1,164	1,093	1,237	963	1,153	1,098	1,276	1,156
Total equity	1,030	1,180	1,109	1,252	1,133	1,323	1,268	1,446	1,326
Borrowings	0	0	0	0	0	0	0	0	0
Current liabilities	571	452	559	446	521	470	592	545	708
Non-current liabilities	26	22	23	22	24	23	26	25	27
Total assets	1,626	1,654	1,691	1,720	1,678	1,816	1,886	2,016	2,061
Property, plant & equipment	213	590	576	268	304	307	289	244	229
Capital work-in-progress	1	0	52	47	8	1	7	0	0
Investments	922	577	466	447	280	532	434	559	594
Inventories	355	349	443	455	582	485	667	675	757
Receivables	42	43	39	46	52	64	62	47	40
Cash & equivalents	12	9	30	24	25	6	5	24	8

Cash flow

annual · ₹ crore · line = free cash flow

	FY22	FY23	FY24	FY25	FY26
Cash from operations	277	181	167	193	218
Cash from investing	-96	47	79	10	-31
Cash from financing	-187	-224	-231	-221	-170
Capex	251	404	94	41	42
Free cash flow	27	-222	73	152	176
Dividends paid	176	215	231	0	170

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹229 cr11%

CWIP

₹0 cr0%

Investments

₹594 cr29%

Inventories

₹757 cr37%

Receivables

₹40 cr2%

Cash & equivalents

₹8 cr0%

Other assets

₹434 cr21%

Peer comparison

largest in Unclassified · this company in bold

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Avantel Limited	36,86,04,549	138.69	—	1059360.68	0.0%
Ducol Organics And Colours Limited	19,55,275	120.00	—	20089.13	0.0%
Jio Platforms Limited	12,57,181	1,406.40	—	3.57	—
SBI Funds Management Limited	1,01,750	499.55	—	—	—
Tamilnadu Telecommunication Limited	91,314	9.93	—	—	—
Manipal Health Enterprises Limited	76,294	646.70	—	—	—
INDO-MIM Limited	59,042	1,219.50	—	—	—
AvenuesAI Limited	45,138	129.25	153.6	9.51	6.2%
Dhoot Transmission Limited	32,761	1,601.60	—	8.11	—
3M India Limited	31,071	27,570.00	53.8	17.57	32.7%
VST Industries Limited	3,297	194.08	12.7	2.49	19.6%

StoxGud checklist: Neutral setup · 4/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-3.6%

6 months-25.1%

1 year-24.9%

3Y CAGR-60.7%

5Y CAGR-43.2%

10Y CAGR-22.1%

50-day avg₹201.79

200-day avg₹229.87

RSI (14)34

FAQs

What is the share price of VST Industries Limited?

VST Industries Limited (VSTIND) closed at ₹194.08 on NSE on 06 Nov 2026.

What is the market cap of VST Industries Limited?

₹3,297 crore at the latest close.

What is the P/E ratio of VST Industries Limited?

12.7, on trailing-twelve-month earnings from its filings.

How fast is VST Industries Limited growing?

VST Industries Limited: revenue has compounded at 6.9% a year over three years; net profit at -3.7% a year. Latest-quarter revenue is up 87.4% year on year, profit down 30.7%.

How profitable is VST Industries Limited?

On a trailing-twelve-month basis return on equity is 19.6%, return on capital employed 26.2%, operating margin 13.4%, net margin 9.0%.

How much debt does VST Industries Limited have?

VST Industries Limited is debt-free: debt to equity is 0.00 with borrowings of ₹0 cr against cash of ₹8 cr (balance sheet of 2026-09-30).

Financials parsed from VST Industries Limited's own XBRL filings to NSE (standalone), ₹ crore unless marked. Quarterly from JUN '18, annual from FY19, balance sheet from Sep '22. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.