VST Industries (509966) Q4 22/23 earnings summary

Executive summary

• FY23 revenue from operations rose 7.1% YoY to ₹1,672.51 crore; total comprehensive income reached a record ₹327.51 crore despite cost inflation and volume and market-share challenges.

• Strategic focus remained on brand building, product innovation, digital and retail activation, cost efficiency, and expanding market reach.

Financial highlights

• Revenue from operations was ₹1,67,250.87 lakh versus ₹1,56,066.54 lakh in FY22; PAT was ₹32,698.28 lakh versus ₹32,023.11 lakh.

• Total income was ₹1,74,890.72 lakh; profit before tax was ₹42,888.84 lakh, and total comprehensive income was ₹32,750.99 lakh.

• EPS was ₹211.75 versus ₹207.38; cigarette volumes were 8,253 million versus 8,340 million.

Outlook and guidance

• Priorities include volume and market-share growth through micro-market focus, rural penetration, trade activation, distribution improvements, and new product launches.

• Continued investment in brands, innovation, digitisation, productivity, and cost efficiency is intended to support growth and margin expansion.

• Targeting net water positivity by FY26; ESG targets include 50% renewable energy and carbon neutrality for own operations by 2030, subject to stated conditions.