289.8000 2.85 (0.99%)
NSE Jun 11, 2025 15:31 PM
Volume: 347.5K
 

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VST Industries Ltd.
11 Aug 2016, 12:00AM
289.80
0.99%
ICICI Securities Limited
VST Industries recorded strong 33.3% growth in topline led by ~70% jump in raw tobacco sales & ~16% growth in cigarette sales. Excise outgo this quarter increased ~13% to | 320 crore mainly due to 10% increase in excise duty in 2016 Budget • Cigarettes volume growth witnessed uptick to 4% mainly on the back significant volume decline in base quarter & moderate excise hike of 10% in 2016 Budget. Volume contribution from 64 mm category was 60% during the quarter. We changed our volume estimate from 2% to 4% in FY17E & from 1% to 2% in FY18E on account of low base effect created by significant decline in cigarettes volumes by 7% in FY15 & 3% in FY16. ICICI Securities Limited value the stock at 18x FY18E EPS of | 135.4 & arrive at a target price of | 2437/share with a BUY recommendation on the stock.
VST Industries Ltd. is trading below its 150 day SMA of 303.5
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