Hold VST Industries; target of Rs 3300: ICICI Direct

ICICI Direct's research report on VST Industries

VST Industries (VST) is a cigarette company in India involved in manufacturing, marketing cigarettes and trading unmanufactured tobacco. The company has two cigarettes manufacturing facilities in Hyderabad, AP. It has five major brands, which includes ‘Total’, ‘Charms’, ‘Moment’, ‘Special’, & ‘Edition’ and a distribution reach of over 1.2 million outlets.

Outlook

We continue to maintain our HOLD rating on the stock. We maintain our HOLD rating with a revised target price of Rs 3300 valuing the business at 13x FY25 earnings.

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