Stable tax environment helps robust volume growth The company witnessed volume growth of ~10% in 9MFY20 on account of a stable tax environment over the last two years post implementation of GST structure. In the last two years, VST has changed its product mix in favour of | 5-6 price point, which now accounts for 55% of the portfolio. Moreover, Edition brand at | 10/stick accounts for 5% of volumes. Also, the company has been gaining market share from the industry leader as reflected in its volume growth, which is over & above industry average volume growth of...