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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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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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