VST FY26 Net Cigarette Revenue up 25% to ₹1151 Cr, EBITDA up 61% to ₹450 Cr

VST Industries reported strong financial results for the year ended March 31, 2026. Net Cigarette Revenue increased by 25% year-on-year to ₹1151 crores, while EBITDA surged by 61% to ₹450 crores. Profit after Tax (before exceptional items) grew 43.6% to ₹292.3 crores. Cigarette volumes saw an 8.6% rise to an average of 696 million per month. For Q4 FY26, revenue from operations was ₹689 crores and PAT was ₹116.7 crores. The company noted significant indirect tax amendments from February 1, 2026, impacting comparability of gross sales and excise duty. Managing Director Piyush Srivastava highlighted robust volume recovery and strong double-digit profit growth, despite geopolitical instability affecting the unmanufactured tobacco business. He acknowledged a challenging year ahead due to tax increases and affirmed focus on strengthening brand portfolio and market execution.