Parag Parikh Financial Advisory Services (PPFAS) has recommended hold rating on VST Industries, in its July 19, 2011 research report.
VST Industries Ltd. (VST) came out with an excellent set of numbers for the quarter ended June 2011. On a quarterly y-o-y basis, Net Sales went up by 14.9%, from Rs 1,273.3 Mn to Rs 1,462.7 Mn. Cigarettes business registered sales of approx Rs1210 Mn while the remaining Rs 250 Mn came from sale of tobacco. The respective figures for Q1FY11 were Rs 960 Mn and Rs 310 Mn. Volumes (cigarettes) have grown by 7%. The effect of the price increase taken towards the end of the third quarter (FY11) continues to add to the Y-O-Y growth. Total Expenditure went down by 8.5% to Rs 978.1 Mn. This was primarily due to a dip in Cost of materials as well as lower Other Expenses. Cost of Materials was lower due to a change in product mix. Other Expenses were down due to higher sales promotions in Q1FY11.
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