VST Industries Q4 Review - Volume Recovery To Be Prolonged: ICICI Direct
The filters of cigarettes are seen as they move along the the production line. (Photographer Chris Ratcliffe/Bloomberg)

VST Industries Q4 Review - Volume Recovery To Be Prolonged: ICICI Direct


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ICICI Direct Report

VST Industries Ltd. posted revenue growth of 9.4% but, net of excise, topline fell 4.6%.

Cigarette sales witnessed growth of 12% to Rs 347.4 crore with flattish year-on-year volumes.

However, on a sequential basis, cigarettes volumes grew 15% during the quarter.

Tobacco sales declined 45.3% to Rs 35 crore on account of adverse exports due to the non-availability of containers.

The company has not taken a price increase in last nine months and does not intend to make any price changes in the next six months.

High priced cigarettes (at a price point of Rs 6, Rs 7, Rs 11) contribute ~45% of total volumes.

Click on the attachment to read the full report:

ICICI Direct VST Industries Q4FY21 Result Review.pdf


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