VST Industries Limited
VST Industries Limited engages in the manufacturing, trading, and marketing of cigarettes, tobacco, and tobacco products in India and internationally. It sells unmanufactured tobacco. The company was formerly known as Vazir Sultan Tobacco Company Limited and changed its name to VST Industries Limited in April 1983. VST Industries Limited was incorporated in 1930 and is based in Hyderabad, India.
VST Industries Limited (VSTIND) - Net Assets
Latest net assets as of September 2025: ₹12.68 Billion INR
Based on the latest financial reports, VST Industries Limited (VSTIND) has net assets worth ₹12.68 Billion INR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹18.86 Billion) and total liabilities (₹6.17 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₹12.68 Billion |
| % of Total Assets | 67.26% |
| Annual Growth Rate | 10.74% |
| 5-Year Change | 40.65% |
| 10-Year Change | 257.07% |
| Growth Volatility | 8.98 |
VST Industries Limited - Net Assets Trend (2005–2025)
This chart illustrates how VST Industries Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for VST Industries Limited (2005–2025)
The table below shows the annual net assets of VST Industries Limited from 2005 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ₹13.23 Billion | +5.61% |
| 2024-03-31 | ₹12.52 Billion | +6.16% |
| 2023-03-31 | ₹11.80 Billion | +9.81% |
| 2022-03-31 | ₹10.74 Billion | +14.23% |
| 2021-03-31 | ₹9.40 Billion | +19.48% |
| 2020-03-31 | ₹7.87 Billion | +18.53% |
| 2019-03-31 | ₹6.64 Billion | +14.08% |
| 2018-03-31 | ₹5.82 Billion | +8.38% |
| 2017-03-31 | ₹5.37 Billion | +44.98% |
| 2016-03-31 | ₹3.70 Billion | +6.85% |
| 2015-03-31 | ₹3.47 Billion | +5.62% |
| 2014-03-31 | ₹3.28 Billion | +7.93% |
| 2013-03-31 | ₹3.04 Billion | +4.80% |
| 2012-03-31 | ₹2.90 Billion | +9.74% |
| 2011-03-31 | ₹2.64 Billion | +5.65% |
| 2010-03-31 | ₹2.50 Billion | +3.25% |
| 2009-03-31 | ₹2.42 Billion | +3.24% |
| 2008-03-31 | ₹2.35 Billion | +10.25% |
| 2007-03-31 | ₹2.13 Billion | +9.77% |
| 2006-03-31 | ₹1.94 Billion | +12.92% |
| 2005-03-31 | ₹1.72 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to VST Industries Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 867051600000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₹8.67 Billion | 65.55% |
| Common Stock | ₹1.70 Billion | 12.84% |
| Other Comprehensive Income | ₹2.95 Billion | 22.30% |
| Total Equity | ₹13.23 Billion | 100.00% |
VST Industries Limited Competitors by Market Cap
The table below lists competitors of VST Industries Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SKY Metals Ltd
AU:SKY
|
$55.16 Million |
|
Dicot AB
ST:DICOT
|
$55.17 Million |
|
SPARQ Corp.
OTCQB:SPRQF
|
$55.18 Million |
|
The BORN Korea
KO:475560
|
$55.19 Million |
|
Calida Holding AG
SW:CALN
|
$55.15 Million |
|
Hot Chili Limited
OTCQX:HHLKF
|
$55.09 Million |
|
ANTVF
PINK:ANTVF
|
$55.07 Million |
|
Grigeo AB
STU:WM8
|
$55.05 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in VST Industries Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 12,524,137,000 to 13,226,900,000, a change of 702,763,000 (5.6%).
- Net income of 2,904,000,000 contributed positively to equity growth.
- Dividend payments of 2,307,700,000 reduced retained earnings.
- Share repurchases of 94,576,000 reduced equity.
- New share issuances of 94,600,000 increased equity.
- Other comprehensive income decreased equity by 1,254,906,000.
- Other factors increased equity by 1,361,345,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₹2.90 Billion | +21.96% |
| Dividends Paid | ₹2.31 Billion | -17.45% |
| Share Repurchases | ₹94.58 Million | -0.72% |
| Share Issuances | ₹94.60 Million | +0.72% |
| Other Comprehensive Income | ₹-1.25 Billion | -9.49% |
| Other Changes | ₹1.36 Billion | +10.29% |
| Total Change | ₹- | 5.61% |
Book Value vs Market Value Analysis
This analysis compares VST Industries Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.91x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 2.04x to 2.91x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-03-31 | ₹111.26 | ₹226.59 | x |
| 2006-03-31 | ₹125.63 | ₹226.59 | x |
| 2007-03-31 | ₹137.92 | ₹226.59 | x |
| 2008-03-31 | ₹152.05 | ₹226.59 | x |
| 2009-03-31 | ₹156.98 | ₹226.59 | x |
| 2010-03-31 | ₹162.09 | ₹226.59 | x |
| 2011-03-31 | ₹171.25 | ₹226.59 | x |
| 2012-03-31 | ₹187.92 | ₹226.59 | x |
| 2013-03-31 | ₹196.94 | ₹226.59 | x |
| 2014-03-31 | ₹19.32 | ₹226.59 | x |
| 2015-03-31 | ₹20.41 | ₹226.59 | x |
| 2016-03-31 | ₹21.81 | ₹226.59 | x |
| 2017-03-31 | ₹31.62 | ₹226.59 | x |
| 2018-03-31 | ₹34.27 | ₹226.59 | x |
| 2019-03-31 | ₹39.09 | ₹226.59 | x |
| 2020-03-31 | ₹46.34 | ₹226.59 | x |
| 2021-03-31 | ₹55.37 | ₹226.59 | x |
| 2022-03-31 | ₹63.25 | ₹226.59 | x |
| 2023-03-31 | ₹69.45 | ₹226.59 | x |
| 2024-03-31 | ₹73.73 | ₹226.59 | x |
| 2025-03-31 | ₹77.89 | ₹226.59 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently VST Industries Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 21.96%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 20.78%
- • Asset Turnover: 0.77x
- • Equity Multiplier: 1.37x
- Recent ROE (21.96%) is below the historical average (32.64%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 31.86% | 15.37% | 1.13x | 1.84x | ₹375.57 Million |
| 2006 | 22.88% | 12.86% | 1.02x | 1.74x | ₹249.95 Million |
| 2007 | 26.10% | 16.54% | 0.83x | 1.90x | ₹342.97 Million |
| 2008 | 24.91% | 17.20% | 0.75x | 1.93x | ₹349.98 Million |
| 2009 | 25.54% | 16.25% | 0.76x | 2.07x | ₹376.77 Million |
| 2010 | 24.77% | 13.13% | 0.84x | 2.24x | ₹369.80 Million |
| 2011 | 35.93% | 16.43% | 0.91x | 2.41x | ₹685.67 Million |
| 2012 | 49.11% | 20.95% | 0.96x | 2.45x | ₹1.13 Billion |
| 2013 | 41.51% | 19.02% | 0.89x | 2.45x | ₹958.37 Million |
| 2014 | 45.75% | 19.14% | 1.04x | 2.30x | ₹1.17 Billion |
| 2015 | 43.91% | 18.34% | 1.00x | 2.38x | ₹1.18 Billion |
| 2016 | 41.33% | 17.42% | 1.06x | 2.23x | ₹1.16 Billion |
| 2017 | 31.13% | 17.71% | 1.19x | 1.48x | ₹1.14 Billion |
| 2018 | 31.25% | 19.22% | 0.89x | 1.83x | ₹1.24 Billion |
| 2019 | 34.16% | 20.67% | 0.91x | 1.82x | ₹1.60 Billion |
| 2020 | 38.64% | 24.56% | 0.89x | 1.77x | ₹2.25 Billion |
| 2021 | 33.05% | 28.00% | 0.75x | 1.58x | ₹2.17 Billion |
| 2022 | 29.81% | 27.22% | 0.74x | 1.48x | ₹2.13 Billion |
| 2023 | 27.72% | 25.35% | 0.78x | 1.40x | ₹2.09 Billion |
| 2024 | 24.08% | 21.23% | 0.83x | 1.37x | ₹1.76 Billion |
| 2025 | 21.96% | 20.78% | 0.77x | 1.37x | ₹1.58 Billion |
Industry Comparison
This section compares VST Industries Limited's net assets metrics with peer companies in the Tobacco industry.
Industry Context
- Industry: Tobacco
- Average net assets among peers: $17,475,318,512
- Average return on equity (ROE) among peers: 1.39%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| VST Industries Limited (VSTIND) | ₹12.68 Billion | 31.86% | 0.49x | $55.15 Million |
| Godfrey Phillips India Limited (GODFRYPHLP) | $6.84 Billion | 16.82% | 0.59x | $1.07 Billion |
| Golden Tobacco Limited (GOLDENTOBC) | $925.21 Million | -12.65% | 2.57x | $2.42 Million |
| ITC Limited (ITC) | $44.66 Billion | 0.00% | 0.66x | $32.92 Billion |