ICICI Direct's research report on VST Industries
VST Industries (VST) is a 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.
We continue to maintain our HOLD rating on the stock. We maintain our Hold rating with a target price of Rs 3425 valuing the business 14x FY24 earnings.
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