VST Industries Limited (VSTIND) - Net Assets
Based on the latest financial reports, VST Industries Limited (VSTIND) has net assets worth Rs14.46 Billion INR (≈ $156.34 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs20.16 Billion ≈ $218.00 Million USD) and total liabilities (Rs5.70 Billion ≈ $61.66 Million USD). 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. Check VSTIND goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs14.46 Billion |
| % of Total Assets | 71.72% |
| Annual Growth Rate | 10.68% |
| 5-Year Change | 34.57% |
| 10-Year Change | 169.18% |
| Growth Volatility | 8.78 |
VST Industries Limited - Net Assets Trend (2005–2026)
This chart illustrates how VST Industries Limited's net assets have evolved over time, based on quarterly financial data. See how many days can VST Industries Limited fund operations to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for VST Industries Limited (2005–2026)
The table below shows the annual net assets of VST Industries Limited from 2005 to 2026. For live valuation and market cap data, see market cap of VST Industries Limited.
| Year | Net Assets | Change |
|---|---|---|
| 2026-03-31 | Rs14.46 Billion ≈ $156.34 Million |
+9.30% |
| 2025-03-31 | Rs13.23 Billion ≈ $143.04 Million |
+5.61% |
| 2024-03-31 | Rs12.52 Billion ≈ $135.44 Million |
+6.16% |
| 2023-03-31 | Rs11.80 Billion ≈ $127.58 Million |
+9.81% |
| 2022-03-31 | Rs10.74 Billion ≈ $116.18 Million |
+14.23% |
| 2021-03-31 | Rs9.40 Billion ≈ $101.71 Million |
+19.48% |
| 2020-03-31 | Rs7.87 Billion ≈ $85.12 Million |
+18.53% |
| 2019-03-31 | Rs6.64 Billion ≈ $71.81 Million |
+14.08% |
| 2018-03-31 | Rs5.82 Billion ≈ $62.95 Million |
+8.38% |
| 2017-03-31 | Rs5.37 Billion ≈ $58.08 Million |
+44.98% |
| 2016-03-31 | Rs3.70 Billion ≈ $40.06 Million |
+6.85% |
| 2015-03-31 | Rs3.47 Billion ≈ $37.49 Million |
+5.62% |
| 2014-03-31 | Rs3.28 Billion ≈ $35.50 Million |
+7.93% |
| 2013-03-31 | Rs3.04 Billion ≈ $32.89 Million |
+4.80% |
| 2012-03-31 | Rs2.90 Billion ≈ $31.38 Million |
+9.74% |
| 2011-03-31 | Rs2.64 Billion ≈ $28.60 Million |
+5.65% |
| 2010-03-31 | Rs2.50 Billion ≈ $27.07 Million |
+3.25% |
| 2009-03-31 | Rs2.42 Billion ≈ $26.22 Million |
+3.24% |
| 2008-03-31 | Rs2.35 Billion ≈ $25.39 Million |
+10.25% |
| 2007-03-31 | Rs2.13 Billion ≈ $23.03 Million |
+9.77% |
| 2006-03-31 | Rs1.94 Billion ≈ $20.98 Million |
+12.92% |
| 2005-03-31 | Rs1.72 Billion ≈ $18.58 Million |
-- |
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 decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (March 2026)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | Rs1.70 Billion | 11.75% |
| Other Components | Rs12.76 Billion | 88.25% |
| Total Equity | Rs14.46 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 |
|---|---|
|
Grand Pacific Petrochemical Corp
TW:1312
|
$481.13 Million |
|
Qingdao Kingking Applied Chemistry Co Ltd
SHE:002094
|
$481.24 Million |
|
Net Holding AS
IS:NTHOL
|
$481.29 Million |
|
Origin Enterprises Plc
IR:OIZ
|
$481.54 Million |
|
SKS Technologies Group Ltd
AU:SKS
|
$480.89 Million |
|
ATRenew Inc DRC
NYSE:RERE
|
$480.78 Million |
|
Everbright Jiabao Co Ltd
SHG:600622
|
$480.60 Million |
|
Juniper Hotels Ltd
NSE:JUNIPER
|
$480.58 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 2025 to 2026, total equity changed from 13,226,900,000 to 14,456,700,000, a change of 1,229,800,000 (9.3%).
- Net income of 2,922,600,000 contributed positively to equity growth.
- Dividend payments of 1,695,400,000 reduced retained earnings.
- Other comprehensive income decreased equity by 2,950,207,000.
- Other factors increased equity by 2,952,807,000.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs2.92 Billion | +20.22% |
| Dividends Paid | Rs1.70 Billion | -11.73% |
| Other Comprehensive Income | Rs-2.95 Billion | -20.41% |
| Other Changes | Rs2.95 Billion | +20.43% |
| Total Change | Rs- | 9.30% |
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: 3.08x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 2.36x to 3.08x 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 | Rs111.26 | Rs262.30 | x |
| 2006-03-31 | Rs125.63 | Rs262.30 | x |
| 2007-03-31 | Rs137.92 | Rs262.30 | x |
| 2008-03-31 | Rs152.05 | Rs262.30 | x |
| 2009-03-31 | Rs156.98 | Rs262.30 | x |
| 2010-03-31 | Rs162.09 | Rs262.30 | x |
| 2011-03-31 | Rs171.25 | Rs262.30 | x |
| 2012-03-31 | Rs187.92 | Rs262.30 | x |
| 2013-03-31 | Rs196.94 | Rs262.30 | x |
| 2014-03-31 | Rs19.32 | Rs262.30 | x |
| 2015-03-31 | Rs20.41 | Rs262.30 | x |
| 2016-03-31 | Rs21.81 | Rs262.30 | x |
| 2017-03-31 | Rs31.62 | Rs262.30 | x |
| 2018-03-31 | Rs34.27 | Rs262.30 | x |
| 2019-03-31 | Rs39.09 | Rs262.30 | x |
| 2020-03-31 | Rs46.34 | Rs262.30 | x |
| 2021-03-31 | Rs55.37 | Rs262.30 | x |
| 2022-03-31 | Rs63.25 | Rs262.30 | x |
| 2023-03-31 | Rs69.45 | Rs262.30 | x |
| 2024-03-31 | Rs73.73 | Rs262.30 | x |
| 2025-03-31 | Rs77.89 | Rs262.30 | x |
| 2026-03-31 | Rs85.13 | Rs262.30 | 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): 20.22%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 19.96%
- • Asset Turnover: 0.73x
- • Equity Multiplier: 1.39x
- Recent ROE (20.22%) is below the historical average (32.07%), 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 | Rs375.57 Million |
| 2006 | 22.88% | 12.86% | 1.02x | 1.74x | Rs249.95 Million |
| 2007 | 26.10% | 16.54% | 0.83x | 1.90x | Rs342.97 Million |
| 2008 | 24.91% | 17.20% | 0.75x | 1.93x | Rs349.98 Million |
| 2009 | 25.54% | 16.25% | 0.76x | 2.07x | Rs376.77 Million |
| 2010 | 24.77% | 13.13% | 0.84x | 2.24x | Rs369.80 Million |
| 2011 | 35.93% | 16.43% | 0.91x | 2.41x | Rs685.67 Million |
| 2012 | 49.11% | 20.95% | 0.96x | 2.45x | Rs1.13 Billion |
| 2013 | 41.51% | 19.02% | 0.89x | 2.45x | Rs958.37 Million |
| 2014 | 45.75% | 19.14% | 1.04x | 2.30x | Rs1.17 Billion |
| 2015 | 43.91% | 18.34% | 1.00x | 2.38x | Rs1.18 Billion |
| 2016 | 41.33% | 17.42% | 1.06x | 2.23x | Rs1.16 Billion |
| 2017 | 31.13% | 17.71% | 1.19x | 1.48x | Rs1.14 Billion |
| 2018 | 31.25% | 19.22% | 0.89x | 1.83x | Rs1.24 Billion |
| 2019 | 34.16% | 20.67% | 0.91x | 1.82x | Rs1.60 Billion |
| 2020 | 38.64% | 24.56% | 0.89x | 1.77x | Rs2.25 Billion |
| 2021 | 33.05% | 28.00% | 0.75x | 1.58x | Rs2.17 Billion |
| 2022 | 29.81% | 27.22% | 0.74x | 1.48x | Rs2.13 Billion |
| 2023 | 27.72% | 25.35% | 0.78x | 1.40x | Rs2.09 Billion |
| 2024 | 24.08% | 21.23% | 0.83x | 1.37x | Rs1.76 Billion |
| 2025 | 21.96% | 20.78% | 0.77x | 1.37x | Rs1.58 Billion |
| 2026 | 20.22% | 19.96% | 0.73x | 1.39x | Rs1.48 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: $23,027,611,880
- Average return on equity (ROE) among peers: 18.54%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| VST Industries Limited (VSTIND) | Rs14.46 Billion | 31.86% | 0.39x | $480.94 Million |
| Golden Tobacco Limited (GOLDENTOBC) | $1.39 Billion | 37.09% | 1.31x | $5.01 Million |
| ITC Limited (ITC) | $44.66 Billion | 0.00% | 0.66x | $39.30 Billion |
About 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.