Hold VST Industries; target of Rs 3424: ICICI Direct

ICICI Direct's research report on VST Industries

VST Industries (VST) is cigarette company in India, involved in manufacturing, marketing cigarettes & trading of 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 direct distribution reach of over 1.1 million outlets.

Outlook

We continue to maintain our HOLD rating on the stock. We maintain our Hold rating & target of Rs3425 valuing the business 14x FY24 earnings.