VST Industries Ltd.
•₹ 212.69-0.08%
2026-08-21
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 29.8%
- Company has a good return on equity (ROE) track record: 3 Years ROE 22.9%
- Company has been maintaining a healthy dividend payout of 69.7%
- Company has a consistent dividend-paying track record
- Offers a healthy dividend yield of 5.7%
CONS
- Interest coverage is weak at 0.0x - earnings barely cover interest
- Working capital days have increased from 95 to 148 days
- Company has delivered a poor profit growth of -1.2% over past five years
- Operating margins have contracted to 22.0% from 27.4%
- Company has delivered a poor sales growth of 5.7% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | ITC | 266.90 | 16.86 | 334419.88 | 5.43 | 4508.79 | -15.62 | 29523.30 | 28.32 | 38.83 | 17.84 |
| 2. | GODFRYPHLP | 2129.00 | 24.27 | 33208.52 | 2.35 | 1983.90 | 456.84 | 38195.60 | 2020.43 | 33.70 | 5.49 |
| 3. | VSTIND | 211.60 | 57.96 | 3594.26 | 5.67 | 42.42 | -24.43 | 861.71 | 109.08 | 28.18 | 5.76 |
| 4. | IWP | 34.24 | 36.99 | 219.04 | 0.58 | 2.51 | 118.28 | 65.19 | 26.76 | 3.36 | 8.02 |
| 5. | NTCIND | 140.05 | 10.16 | 203.34 | 0.00 | 6.12 | 7.99 | 26.63 | 3.21 | 11.14 | 24.79 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 441 | 451 | 468 | 475 | 423 | 460 | 470 | 453 | 412 | 450 | 491 | 689 | 862 | |
| 336 | 373 | 396 | 379 | 351 | 393 | 402 | 384 | 337 | 372 | 406 | 481 | 823 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 12 | 29 | 9 | 30 | 9 | 8 | 8 | 10 | 11 | 12 | 9 | 9 | 20 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 8 | 9 | 10 | 11 | 10 | 11 | 11 | 12 | 12 | 12 | 14 | 63 | 11 |
| 109 | 99 | 71 | 115 | 72 | 65 | 166 | 67 | 76 | 78 | 81 | 155 | 58 | |
| Tax % | 23.45% | 23.38% | 24.36% | 23.44% | 25.87% | 26.47% | 17.73% | 20.92% | 26.14% | 24.49% | 25.72% | 24.50% | 27.21% |
| Net Profit | 84 | 76 | 54 | 88 | 54 | 48 | 136 | 53 | 56 | 59 | 60 | 117 | 42 |
| 54 | 4 | 3 | 5 | 3 | 3 | 8 | 3 | 3 | 3 | 4 | 7 | 0 | |
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 170 | 170 | 170 | 170 | 170 | 170 | 170 | 170 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 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% |
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 170 | 170 | 170 | 170 | 170 | 170 | 170 | 170 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 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% |
Jun 2023
- 441
- 336
- Operating Profit
- —
- OPM %
- —
- Other Income
- 12
- Interest
- 0
- Depreciation
- 8
- 109
- Tax %
- 23.45%
- Net Profit
- 84
- 54
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 451
- 373
- Operating Profit
- —
- OPM %
- —
- Other Income
- 29
- Interest
- 0
- Depreciation
- 9
- 99
- Tax %
- 23.38%
- Net Profit
- 76
- 4
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 468
- 396
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 0
- Depreciation
- 10
- 71
- Tax %
- 24.36%
- Net Profit
- 54
- 3
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 475
- 379
- Operating Profit
- —
- OPM %
- —
- Other Income
- 30
- Interest
- 0
- Depreciation
- 11
- 115
- Tax %
- 23.44%
- Net Profit
- 88
- 5
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 423
- 351
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 0
- Depreciation
- 10
- 72
- Tax %
- 25.87%
- Net Profit
- 54
- 3
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 15
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 460
- 393
- Operating Profit
- —
- OPM %
- —
- Other Income
- 8
- Interest
- 0
- Depreciation
- 11
- 65
- Tax %
- 26.47%
- Net Profit
- 48
- 3
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 470
- 402
- Operating Profit
- —
- OPM %
- —
- Other Income
- 8
- Interest
- 0
- Depreciation
- 11
- 166
- Tax %
- 17.73%
- Net Profit
- 136
- 8
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 453
- 384
- Operating Profit
- —
- OPM %
- —
- Other Income
- 10
- Interest
- 0
- Depreciation
- 12
- 67
- Tax %
- 20.92%
- Net Profit
- 53
- 3
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 412
- 337
- Operating Profit
- —
- OPM %
- —
- Other Income
- 11
- Interest
- 0
- Depreciation
- 12
- 76
- Tax %
- 26.14%
- Net Profit
- 56
- 3
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 450
- 372
- Operating Profit
- —
- OPM %
- —
- Other Income
- 12
- Interest
- 0
- Depreciation
- 12
- 78
- Tax %
- 24.49%
- Net Profit
- 59
- 3
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 491
- 406
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 0
- Depreciation
- 14
- 81
- Tax %
- 25.72%
- Net Profit
- 60
- 4
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 689
- 481
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 0
- Depreciation
- 63
- 155
- Tax %
- 24.50%
- Net Profit
- 117
- 7
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 862
- 823
- Operating Profit
- —
- OPM %
- —
- Other Income
- 20
- Interest
- 0
- Depreciation
- 11
- 58
- Tax %
- 27.21%
- Net Profit
- 42
- 0
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 170
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 922 | 948 | 1,099 | 1,239 | 1,111 | 1,178 | 1,292 | 1,420 | 1,398 | 1,465 | 2,492 | |
| 675 | 654 | 746 | 825 | 701 | 767 | 910 | 1,067 | 1,119 | 1,015 | 2,082 | |
| Operating Profit | 268 | 319 | 392 | 462 | 452 | 458 | 459 | 433 | 314 | 491 | — |
| OPM % | 29 | 34 | 36 | 37 | 41 | 39 | 36 | 30 | 22 | 34 | — |
| Other Income | 20 | 25 | 39 | 47 | 42 | 47 | 76 | 80 | 35 | 41 | 50 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 37 | 39 | 41 | 42 | 35 | 30 | 30 | 38 | 44 | 101 | 101 |
| 231 | 279 | 351 | 420 | 417 | 428 | 429 | 395 | 370 | 390 | 372 | |
| Tax % | 34 | 35 | 35 | 28 | 26 | 25 | 24 | 24 | 21 | 25 | 25 |
| Net Profit | 152 | 182 | 227 | 304 | 311 | 320 | 327 | 302 | 290 | 292 | 279 |
| EPS | 98 | 118 | 147 | 197 | 201 | 207 | 212 | 195 | 17 | 17 | — |
| Dividend Payout % | 76 | 66 | 65 | 52 | 57 | 68 | 71 | 77 | 58 | 70 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 9 | 11 | 13 | 18 | 18 | 19 | 19 | 18 | 17 | 17 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 9 | 11 | 13 | 18 | 18 | 19 | 19 | 18 | 17 | 17 | — |
Mar 2017
- 922
- 675
- Operating Profit
- 268
- OPM %
- 29
- Other Income
- 20
- Interest
- 0
- Depreciation
- 37
- 231
- Tax %
- 34
- Net Profit
- 152
- EPS
- 98
- Dividend Payout %
- 76
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
Mar 2018
- 948
- 654
- Operating Profit
- 319
- OPM %
- 34
- Other Income
- 25
- Interest
- 0
- Depreciation
- 39
- 279
- Tax %
- 35
- Net Profit
- 182
- EPS
- 118
- Dividend Payout %
- 66
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
Mar 2019
- 1,099
- 746
- Operating Profit
- 392
- OPM %
- 36
- Other Income
- 39
- Interest
- 0
- Depreciation
- 41
- 351
- Tax %
- 35
- Net Profit
- 227
- EPS
- 147
- Dividend Payout %
- 65
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
Mar 2020
- 1,239
- 825
- Operating Profit
- 462
- OPM %
- 37
- Other Income
- 47
- Interest
- 0
- Depreciation
- 42
- 420
- Tax %
- 28
- Net Profit
- 304
- EPS
- 197
- Dividend Payout %
- 52
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
Mar 2021
- 1,111
- 701
- Operating Profit
- 452
- OPM %
- 41
- Other Income
- 42
- Interest
- 0
- Depreciation
- 35
- 417
- Tax %
- 26
- Net Profit
- 311
- EPS
- 201
- Dividend Payout %
- 57
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
Mar 2022
- 1,178
- 767
- Operating Profit
- 458
- OPM %
- 39
- Other Income
- 47
- Interest
- 0
- Depreciation
- 30
- 428
- Tax %
- 25
- Net Profit
- 320
- EPS
- 207
- Dividend Payout %
- 68
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
Mar 2023
- 1,292
- 910
- Operating Profit
- 459
- OPM %
- 36
- Other Income
- 76
- Interest
- 0
- Depreciation
- 30
- 429
- Tax %
- 24
- Net Profit
- 327
- EPS
- 212
- Dividend Payout %
- 71
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
Mar 2024
- 1,420
- 1,067
- Operating Profit
- 433
- OPM %
- 30
- Other Income
- 80
- Interest
- 0
- Depreciation
- 38
- 395
- Tax %
- 24
- Net Profit
- 302
- EPS
- 195
- Dividend Payout %
- 77
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
Mar 2025
- 1,398
- 1,119
- Operating Profit
- 314
- OPM %
- 22
- Other Income
- 35
- Interest
- 0
- Depreciation
- 44
- 370
- Tax %
- 21
- Net Profit
- 290
- EPS
- 17
- Dividend Payout %
- 58
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 17
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 17
Mar 2026
- 1,465
- 1,015
- Operating Profit
- 491
- OPM %
- 34
- Other Income
- 41
- Interest
- 0
- Depreciation
- 101
- 390
- Tax %
- 25
- Net Profit
- 292
- EPS
- 17
- Dividend Payout %
- 70
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 17
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 17
TTM
- 2,492
- 2,082
- Operating Profit
- —
- OPM %
- —
- Other Income
- 50
- Interest
- 0
- Depreciation
- 101
- 372
- Tax %
- 25
- Net Profit
- 279
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 6%
- 3 Years:
- 4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 7%
- 5 Years:
- -1%
- 3 Years:
- -4%
STOCK PRICE CAGR
- 10 Years:
- 2%
- 5 Years:
- -7%
- 3 Years:
- -12%
- 1 Year:
- -24%
RETURN ON EQUITY
- 10 Years:
- 31%
- 5 Years:
- 26%
- 3 Years:
- 23%
- Last Year:
- 21%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 170 | 170 |
| 524 | 567 | 649 | 772 | 925 | 1,058 | 1,162 | 1,234 | 1,151 | 1,274 | |
| Trade Payables | 56 | 58 | 83 | 143 | 110 | 103 | 97 | 118 | 127 | 124 |
| 180 | 399 | 427 | 441 | 410 | 392 | 362 | 338 | 350 | 404 | |
| Total Liabilities | 775 | 1,039 | 1,174 | 1,371 | 1,461 | 1,569 | 1,636 | 1,705 | 1,798 | 1,972 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 220 | 195 | 213 | 187 | 173 | 195 | 590 | 268 | 307 | 244 | |
| Capital Work in Progress | 1 | 34 | 0 | 13 | 33 | 10 | 0 | 47 | 1 | 0 |
| 174 | 416 | 575 | 753 | 887 | 971 | 577 | 447 | 532 | 559 | |
| 329 | 253 | 282 | 298 | 297 | 296 | 349 | 455 | 485 | 675 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 46 | 64 | 47 | |
| Cash & Bank | 20 | 38 | 37 | 37 | 21 | 15 | 20 | 35 | 18 | 35 |
| 31 | 103 | 66 | 83 | 49 | 82 | 99 | 406 | 392 | 412 | |
| Total Assets | 775 | 1,039 | 1,174 | 1,371 | 1,461 | 1,569 | 1,636 | 1,705 | 1,798 | 1,972 |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Working Capital | 300 | 337 | 434 | 574 | 727 | 649 | 380 | 393 | 470 | 830 |
| Contingent Liabilities | 5 | 3 | 0 | 1 | 7 | 7 | 6 | 6 | 9 | 10 |
| Book Value per Share | 349.03 | 376.96 | 430.02 | 509.71 | 609.02 | 695.06 | 762.39 | 808.91 | 77.77 | 85.01 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Working Capital | 300 | 337 | 434 | 574 | 727 | 649 | 380 | 393 | 470 | 830 |
| Contingent Liabilities | 5 | 3 | 0 | 1 | 7 | 7 | 6 | 6 | 9 | 10 |
| Book Value per Share | 349.03 | 376.96 | 430.02 | 509.71 | 609.02 | 695.06 | 762.39 | 808.91 | 77.77 | 85.01 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2017
- Equity Capital
- 15
- 524
- Trade Payables
- 56
- 180
- Total Liabilities
- 775
- 220
- Capital Work in Progress
- 1
- 174
- 329
- 0
- Cash & Bank
- 20
- 31
- Total Assets
- 775
- Total Debt
- 0
- Net Working Capital
- 300
- Contingent Liabilities
- 5
- Book Value per Share
- 349.03
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 300
- Contingent Liabilities
- 5
- Book Value per Share
- 349.03
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 15
- 567
- Trade Payables
- 58
- 399
- Total Liabilities
- 1,039
- 195
- Capital Work in Progress
- 34
- 416
- 253
- 0
- Cash & Bank
- 38
- 103
- Total Assets
- 1,039
- Total Debt
- 0
- Net Working Capital
- 337
- Contingent Liabilities
- 3
- Book Value per Share
- 376.96
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 337
- Contingent Liabilities
- 3
- Book Value per Share
- 376.96
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 15
- 649
- Trade Payables
- 83
- 427
- Total Liabilities
- 1,174
- 213
- Capital Work in Progress
- 0
- 575
- 282
- 0
- Cash & Bank
- 37
- 66
- Total Assets
- 1,174
- Total Debt
- 0
- Net Working Capital
- 434
- Contingent Liabilities
- 0
- Book Value per Share
- 430.02
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 434
- Contingent Liabilities
- 0
- Book Value per Share
- 430.02
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 15
- 772
- Trade Payables
- 143
- 441
- Total Liabilities
- 1,371
- 187
- Capital Work in Progress
- 13
- 753
- 298
- 0
- Cash & Bank
- 37
- 83
- Total Assets
- 1,371
- Total Debt
- 0
- Net Working Capital
- 574
- Contingent Liabilities
- 1
- Book Value per Share
- 509.71
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 574
- Contingent Liabilities
- 1
- Book Value per Share
- 509.71
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 15
- 925
- Trade Payables
- 110
- 410
- Total Liabilities
- 1,461
- 173
- Capital Work in Progress
- 33
- 887
- 297
- 0
- Cash & Bank
- 21
- 49
- Total Assets
- 1,461
- Total Debt
- 0
- Net Working Capital
- 727
- Contingent Liabilities
- 7
- Book Value per Share
- 609.02
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 727
- Contingent Liabilities
- 7
- Book Value per Share
- 609.02
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 15
- 1,058
- Trade Payables
- 103
- 392
- Total Liabilities
- 1,569
- 195
- Capital Work in Progress
- 10
- 971
- 296
- 0
- Cash & Bank
- 15
- 82
- Total Assets
- 1,569
- Total Debt
- 0
- Net Working Capital
- 649
- Contingent Liabilities
- 7
- Book Value per Share
- 695.06
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 649
- Contingent Liabilities
- 7
- Book Value per Share
- 695.06
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 15
- 1,162
- Trade Payables
- 97
- 362
- Total Liabilities
- 1,636
- 590
- Capital Work in Progress
- 0
- 577
- 349
- 0
- Cash & Bank
- 20
- 99
- Total Assets
- 1,636
- Total Debt
- 0
- Net Working Capital
- 380
- Contingent Liabilities
- 6
- Book Value per Share
- 762.39
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 380
- Contingent Liabilities
- 6
- Book Value per Share
- 762.39
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 15
- 1,234
- Trade Payables
- 118
- 338
- Total Liabilities
- 1,705
- 268
- Capital Work in Progress
- 47
- 447
- 455
- 46
- Cash & Bank
- 35
- 406
- Total Assets
- 1,705
- Total Debt
- 0
- Net Working Capital
- 393
- Contingent Liabilities
- 6
- Book Value per Share
- 808.91
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 393
- Contingent Liabilities
- 6
- Book Value per Share
- 808.91
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 170
- 1,151
- Trade Payables
- 127
- 350
- Total Liabilities
- 1,798
- 307
- Capital Work in Progress
- 1
- 532
- 485
- 64
- Cash & Bank
- 18
- 392
- Total Assets
- 1,798
- Total Debt
- 0
- Net Working Capital
- 470
- Contingent Liabilities
- 9
- Book Value per Share
- 77.77
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 470
- Contingent Liabilities
- 9
- Book Value per Share
- 77.77
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 170
- 1,274
- Trade Payables
- 124
- 404
- Total Liabilities
- 1,972
- 244
- Capital Work in Progress
- 0
- 559
- 675
- 47
- Cash & Bank
- 35
- 412
- Total Assets
- 1,972
- Total Debt
- 0
- Net Working Capital
- 830
- Contingent Liabilities
- 10
- Book Value per Share
- 85.01
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 830
- Contingent Liabilities
- 10
- Book Value per Share
- 85.01
- Face Value
- 10.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 146 | 420 | 290 | 331 | 286 | 277 | 181 | 167 | 193 | 218 | |
| Cash from Investing | -18 | -264 | -148 | -155 | -144 | -96 | 47 | 79 | 10 | -31 |
| Cash from Financing | -130 | -139 | -144 | -177 | -159 | -187 | -224 | -231 | -221 | -170 |
| -2 | 17 | -2 | -0 | -17 | -5 | 5 | 16 | -18 | 17 | |
| Free Cash Flow | 146 | 373 | 265 | 304 | 246 | 248 | -234 | 167 | 159 | 194 |
| OCF / Net Profit | 0.96 | 2.31 | 1.28 | 1.09 | 0.92 | 0.87 | 0.55 | 0.55 | 0.67 | 0.75 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,334 | 1,436 | 829 | 731 | 586 | 535 |
| OCF / Net Profit | 0.96 | 2.31 | 1.28 | 1.09 | 0.92 | 0.87 | 0.55 | 0.55 | 0.67 | 0.75 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,334 | 1,436 | 829 | 731 | 586 | 535 |
Mar 2017
- 146
- Cash from Investing
- -18
- Cash from Financing
- -130
- -2
- Free Cash Flow
- 146
- OCF / Net Profit
- 0.96
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.96
- Cumulative 5-Year FCF
- 0
Mar 2018
- 420
- Cash from Investing
- -264
- Cash from Financing
- -139
- 17
- Free Cash Flow
- 373
- OCF / Net Profit
- 2.31
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.31
- Cumulative 5-Year FCF
- 0
Mar 2019
- 290
- Cash from Investing
- -148
- Cash from Financing
- -144
- -2
- Free Cash Flow
- 265
- OCF / Net Profit
- 1.28
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.28
- Cumulative 5-Year FCF
- 0
Mar 2020
- 331
- Cash from Investing
- -155
- Cash from Financing
- -177
- -0
- Free Cash Flow
- 304
- OCF / Net Profit
- 1.09
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.09
- Cumulative 5-Year FCF
- 0
Mar 2021
- 286
- Cash from Investing
- -144
- Cash from Financing
- -159
- -17
- Free Cash Flow
- 246
- OCF / Net Profit
- 0.92
- Cumulative 5-Year FCF
- 1,334
- OCF / Net Profit
- 0.92
- Cumulative 5-Year FCF
- 1,334
Mar 2022
- 277
- Cash from Investing
- -96
- Cash from Financing
- -187
- -5
- Free Cash Flow
- 248
- OCF / Net Profit
- 0.87
- Cumulative 5-Year FCF
- 1,436
- OCF / Net Profit
- 0.87
- Cumulative 5-Year FCF
- 1,436
Mar 2023
- 181
- Cash from Investing
- 47
- Cash from Financing
- -224
- 5
- Free Cash Flow
- -234
- OCF / Net Profit
- 0.55
- Cumulative 5-Year FCF
- 829
- OCF / Net Profit
- 0.55
- Cumulative 5-Year FCF
- 829
Mar 2024
- 167
- Cash from Investing
- 79
- Cash from Financing
- -231
- 16
- Free Cash Flow
- 167
- OCF / Net Profit
- 0.55
- Cumulative 5-Year FCF
- 731
- OCF / Net Profit
- 0.55
- Cumulative 5-Year FCF
- 731
Mar 2025
- 193
- Cash from Investing
- 10
- Cash from Financing
- -221
- -18
- Free Cash Flow
- 159
- OCF / Net Profit
- 0.67
- Cumulative 5-Year FCF
- 586
- OCF / Net Profit
- 0.67
- Cumulative 5-Year FCF
- 586
Mar 2026
- 218
- Cash from Investing
- -31
- Cash from Financing
- -170
- 17
- Free Cash Flow
- 194
- OCF / Net Profit
- 0.75
- Cumulative 5-Year FCF
- 535
- OCF / Net Profit
- 0.75
- Cumulative 5-Year FCF
- 535
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 98.13 | 117.79 | 146.90 | 196.93 | 201.27 | 207.38 | 211.75 | 195.29 | 17.10 | 17.21 |
| Book Value (₹) | 349.03 | 376.96 | 430.02 | 509.71 | 609.02 | 695.06 | 762.39 | 808.91 | 77.77 | 85.01 |
| Dividend per Share (₹) | 75.00 | 77.50 | 95.00 | 103.00 | 114.00 | 140.00 | 150.00 | 150.00 | 10.00 | 12.00 |
| Cash EPS (₹) | 11.09 | 13.01 | 15.79 | 20.36 | 20.36 | 20.62 | 21.03 | 20.00 | 19.72 | 23.16 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 11.84% | 23.45% | 33.11% | 33.71% | 30.71% | 29.37% | 27.45% | 19.22% | 15.41% | 21.99% |
| Net Margin % | 6.70% | 13.39% | 19.16% | 22.19% | 21.10% | 20.52% | 19.55% | 16.41% | 16.05% | 14.29% |
| ROE % | 33.42% | 32.45% | 36.41% | 41.91% | 35.98% | 31.80% | 29.06% | 24.86% | 22.60% | 21.14% |
| ROCE % | 50.93% | 49.86% | 56.28% | 57.92% | 48.31% | 42.51% | 38.06% | 32.46% | 28.71% | 28.18% |
| 19.17% | 20.05% | 20.50% | 23.90% | 21.96% | 21.14% | 20.41% | 18.05% | 16.58% | 15.51% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 2 | 5 | 6 | 4 | 4 | 6 | 8 | 9 | 11 | 10 |
| Inventory Days | 57 | 78 | 82 | 77 | 74 | 69 | 70 | 80 | 95 | 103 |
| Payable Days | 47 | 44 | 47 | 69 | 96 | 76 | 59 | 52 | 56 | 67 |
| 12 | 39 | 42 | 12 | -19 | -1 | 20 | 37 | 50 | 47 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Interest Coverage (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| 2.21x | 1.72x | 1.83x | 1.97x | 2.39x | 2.31x | 1.84x | 1.88x | 2.00x | 2.52x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 4.44% | 2.73% | 15.98% | 12.77% | -10.36% | 6.05% | 9.70% | 9.91% | -1.60% | 4.78% |
| Operating Profit Growth % | 3.96% | 18.97% | 23.04% | 17.85% | -2.08% | 1.31% | 0.17% | -5.73% | -27.54% | 56.63% |
| Net Profit Growth % | -1.04% | 20.04% | 24.71% | 34.05% | 2.20% | 3.04% | 2.11% | -7.77% | -3.70% | 0.64% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -7.77% | -91.25% | 0.64% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.66x | 15.34x | 11.62x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.42x | 3.37x | 2.35x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 4.20% | 3.81% | 6.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 12.66x | 14.15x | 6.85x |
Mar 2017
- EPS (₹)
- 98.13
- Book Value (₹)
- 349.03
- Dividend per Share (₹)
- 75.00
- Cash EPS (₹)
- 11.09
- Operating Margin %
- 11.84%
- Net Margin %
- 6.70%
- ROE %
- 33.42%
- ROCE %
- 50.93%
- 19.17%
- Debtor Days
- 2
- Inventory Days
- 57
- Payable Days
- 47
- 12
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 0.00x
- 2.21x
- Revenue Growth %
- 4.44%
- Operating Profit Growth %
- 3.96%
- Net Profit Growth %
- -1.04%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 117.79
- Book Value (₹)
- 376.96
- Dividend per Share (₹)
- 77.50
- Cash EPS (₹)
- 13.01
- Operating Margin %
- 23.45%
- Net Margin %
- 13.39%
- ROE %
- 32.45%
- ROCE %
- 49.86%
- 20.05%
- Debtor Days
- 5
- Inventory Days
- 78
- Payable Days
- 44
- 39
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 0.00x
- 1.72x
- Revenue Growth %
- 2.73%
- Operating Profit Growth %
- 18.97%
- Net Profit Growth %
- 20.04%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 146.90
- Book Value (₹)
- 430.02
- Dividend per Share (₹)
- 95.00
- Cash EPS (₹)
- 15.79
- Operating Margin %
- 33.11%
- Net Margin %
- 19.16%
- ROE %
- 36.41%
- ROCE %
- 56.28%
- 20.50%
- Debtor Days
- 6
- Inventory Days
- 82
- Payable Days
- 47
- 42
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 0.00x
- 1.83x
- Revenue Growth %
- 15.98%
- Operating Profit Growth %
- 23.04%
- Net Profit Growth %
- 24.71%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 196.93
- Book Value (₹)
- 509.71
- Dividend per Share (₹)
- 103.00
- Cash EPS (₹)
- 20.36
- Operating Margin %
- 33.71%
- Net Margin %
- 22.19%
- ROE %
- 41.91%
- ROCE %
- 57.92%
- 23.90%
- Debtor Days
- 4
- Inventory Days
- 77
- Payable Days
- 69
- 12
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 0.00x
- 1.97x
- Revenue Growth %
- 12.77%
- Operating Profit Growth %
- 17.85%
- Net Profit Growth %
- 34.05%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 201.27
- Book Value (₹)
- 609.02
- Dividend per Share (₹)
- 114.00
- Cash EPS (₹)
- 20.36
- Operating Margin %
- 30.71%
- Net Margin %
- 21.10%
- ROE %
- 35.98%
- ROCE %
- 48.31%
- 21.96%
- Debtor Days
- 4
- Inventory Days
- 74
- Payable Days
- 96
- -19
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 0.00x
- 2.39x
- Revenue Growth %
- -10.36%
- Operating Profit Growth %
- -2.08%
- Net Profit Growth %
- 2.20%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 207.38
- Book Value (₹)
- 695.06
- Dividend per Share (₹)
- 140.00
- Cash EPS (₹)
- 20.62
- Operating Margin %
- 29.37%
- Net Margin %
- 20.52%
- ROE %
- 31.80%
- ROCE %
- 42.51%
- 21.14%
- Debtor Days
- 6
- Inventory Days
- 69
- Payable Days
- 76
- -1
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 0.00x
- 2.31x
- Revenue Growth %
- 6.05%
- Operating Profit Growth %
- 1.31%
- Net Profit Growth %
- 3.04%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 211.75
- Book Value (₹)
- 762.39
- Dividend per Share (₹)
- 150.00
- Cash EPS (₹)
- 21.03
- Operating Margin %
- 27.45%
- Net Margin %
- 19.55%
- ROE %
- 29.06%
- ROCE %
- 38.06%
- 20.41%
- Debtor Days
- 8
- Inventory Days
- 70
- Payable Days
- 59
- 20
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 0.00x
- 1.84x
- Revenue Growth %
- 9.70%
- Operating Profit Growth %
- 0.17%
- Net Profit Growth %
- 2.11%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 195.29
- Book Value (₹)
- 808.91
- Dividend per Share (₹)
- 150.00
- Cash EPS (₹)
- 20.00
- Operating Margin %
- 19.22%
- Net Margin %
- 16.41%
- ROE %
- 24.86%
- ROCE %
- 32.46%
- 18.05%
- Debtor Days
- 9
- Inventory Days
- 80
- Payable Days
- 52
- 37
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 0.00x
- 1.88x
- Revenue Growth %
- 9.91%
- Operating Profit Growth %
- -5.73%
- Net Profit Growth %
- -7.77%
- -7.77%
- P/E (x)
- 1.66x
- P/B (x)
- 4.42x
- Dividend Yield %
- 4.20%
- 12.66x
Mar 2025
- EPS (₹)
- 17.10
- Book Value (₹)
- 77.77
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 19.72
- Operating Margin %
- 15.41%
- Net Margin %
- 16.05%
- ROE %
- 22.60%
- ROCE %
- 28.71%
- 16.58%
- Debtor Days
- 11
- Inventory Days
- 95
- Payable Days
- 56
- 50
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 0.00x
- 2.00x
- Revenue Growth %
- -1.60%
- Operating Profit Growth %
- -27.54%
- Net Profit Growth %
- -3.70%
- -91.25%
- P/E (x)
- 15.34x
- P/B (x)
- 3.37x
- Dividend Yield %
- 3.81%
- 14.15x
Mar 2026
- EPS (₹)
- 17.21
- Book Value (₹)
- 85.01
- Dividend per Share (₹)
- 12.00
- Cash EPS (₹)
- 23.16
- Operating Margin %
- 21.99%
- Net Margin %
- 14.29%
- ROE %
- 21.14%
- ROCE %
- 28.18%
- 15.51%
- Debtor Days
- 10
- Inventory Days
- 103
- Payable Days
- 67
- 47
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 0.00x
- 2.52x
- Revenue Growth %
- 4.78%
- Operating Profit Growth %
- 56.63%
- Net Profit Growth %
- 0.64%
- 0.64%
- P/E (x)
- 11.62x
- P/B (x)
- 2.35x
- Dividend Yield %
- 6.00%
- 6.85x
Documents
Announcements
- Shareholders meeting
2026-07-29 - VST Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 29, 2026. Further, the company has informed the Exchange regarding voting results.
- Shareholders meeting
2026-07-29 - VST Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 29, 2026
Annual Reports
Credit Ratings
- Credit Rating
2026-05-15 - VST Industries Limited has informed the Exchange about Credit Rating
Concalls
Nothing filed yet.