Dividend of Rs 150 per share announced: mid-cap tobacco company reports 28.38% profit growth

VST Industries Ltd., a mid-cap company in the tobacco industry, today proposed a final dividend of Rs. 150 per equity share, or Rs. 10 per share. With an intraday rise of 2.21%, the most recent trading price of VST Industries shares on the BSE is Rs 4118.85 per share. The market capitalization of the firm is Rs 6,360.30 crore. VST Industries’ EPS (TTM) is 34.80 and its PE is 22.55. The tobacco firm said today that its net profit for the quarter ending March 2024 increased by 28.38% to Rs 88.20 crore. Further information is provided below:

VST Industries Announces Dividend: According to the company’s April 26, 2024 regulatory filing, “a final dividend of Rs. 150/-per equity share of Rs. 10/-each” is suggested. If approved by the shareholders at the 93rd Annual General Meeting, the dividend will be handed out within 30 days.”

History of Dividends for VST Industries: Since May 28, 2001, 23 dividends have been declared by VST Industries. VST Industries declared an equity dividend of Rs 150.00 per share during the previous year. With a current share price of Rs 4118.85, VST Industries is offering a 3.64% dividend yield.

Financials for VST Industries: The firm reported a net profit of Rs 88.20 crore for the quarter that ended on March 31, 2024, a 28.38% increase over the Rs 68.70 crore reported for the same period the previous year. Compared to the Rs 300.86 crore recorded in the previous quarter ended March 2023, the company’s revenues increased by 24.35% to Rs 374.13 crore for the quarter ending March 31, 2024.

The company’s net profit for the whole year decreased by 7.77% to Rs 301.57 crore for the year that ended in March 2024, from Rs 326.98 crore recorded for the year that ended in March 2023. Sales for the year ended March 2024 increased 9.85% to Rs 1417.20 crore, compared to Rs 1290.11 crore for the year before ended March 2023.

Performance of VST Industries Share: As of right now, the share is trading at Rs 4118.85 on the BSE. As of 3/01/2024, the share price of VST Industries on the BSE is at its 52-week high of Rs 4328.45, while as of 26/10/2023, it is at its 52-week low of Rs 3159.90. The market capitalization of the firm is Rs 6,360.30 crore. The stock of VST Industries returned 11% over the previous two weeks, 16% over the previous month, 29% over the previous six months, and 26% over the previous year. VST Industries’ stock increased 28% over the last two years and had the biggest return of 116% over the previous ten.

Technically speaking, the stock of VST Industries is reasonably solid with a score of 64.2. Technically speaking, stocks scoring between 60 and 70 are regarded as relatively strong. A RSI of 79.4 indicates an overbought market; one over 70 indicates an oversold market. MFI is 91.7; anything above 80 is regarded as significantly overbought. This suggests that a stock decline may occur. The number of FII/FPI investors fell in the December 2023 quarter, from 99 to 88. In the December 2023 quarter, mutual fund holdings fell from 15.95% to 15.93%. With 232,803 shares, The New India Assurance Co. Ltd. owns 1.51% of VST.

Large Purchase: At an average price of Rs 3,689.96, renowned investor Radakishan Damani purchased 2.33 lakh shares, or 1.51% of the total. As of December 2023, the investor had a 32.89% interest in the business. Damani paid Rs 86.25 crore for shares. His shareholding was increased to 35.84% by this selling. Damani became the biggest stakeholder in VST when he purchased a 1.44% investment in the firm in January of this year, bringing his total ownership to above 30%. The promoters retained a 32.16% stake in the company.

HDFC Mutual Fund, on the other hand, sold 3.3 lakh of the company’s shares for Rs 3,690.23 each. VST was sold by HDFC Mutual Fund for 2.15%. Shareholding data indicates that as of December 2023, the stake was 5.84%.

About VST Industries: Founded on November 10, 1930, under Hyderabad Companies Act No. IV of 1320 Fasli, the Vazir Sultan Tobacco Company Limited is now controlled by the Companies Act, 1956/2013. Later, on April 30, 1983, the company’s name was changed to VST Industries Limited. According to its official website, the company manufactures and sells cigarettes and unmanufactured tobacco. It has production facilities in Hyderabad and Toopran, Telangana.