VST Industries - Volume Continues To Remain Sluggish: ICICI Direct
A group of cigarettes sit arranged for a photograph in London, U.K. (Photographer: Jason Alden/Bloomberg)

VST Industries - Volume Continues To Remain Sluggish: 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. reported dismal set of numbers with approximately 13% decline in cigarette volumes given demand conditions still remained weak due to continue work from home culture.

Moreover, the company faced stiff competitive pressure with peers increasing trade discounts and schemes. Gross revenues witnessed a growth of 3.3% led by 18% increase in cigarettes sales.

The increase in sales was largely on account of price increase taken last year after the excise duty increase in budget and change in product mix. High priced cigarettes brands ‘Total’ (Rs seven per stick) and ‘Edition’ (Rs 11per stick) contributes 45% to volumes.

Click on the attachment to read the full report:

ICICI Direct VST Industries Q3FY21 Result Update.pdf

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