VST Industries Ltd is an Indian publicly-listed company which manufactures and distributes cigarettes.[4] The company is headquartered in Hyderabad.
VST Industries started off as the Vazir Sultan Tobacco Company, and became an affiliate undertaking of British American Tobacco group of the United Kingdom.[5][6] It became fully independent and registered as VST Industries Ltd in 1983.[7][8] British American Tobacco, through its subsidiaries, owns a 32.16% stake in the company.
The company was incorporated on 10 November 1930 as the Vazir Sultan Tobacco Company Limited under the Hyderabad Companies Act No. IV of 1320 Fasli.[9] In April 1983, it was renamed VST Industries Limited.[9] Over the decades, the company established a presence in the Indian cigarette manufacturing industry with a portfolio of regional and national brands.[10]
VST Industries is also engaged in the trading and processing of unmanufactured tobacco. According to the company, tobacco leaf procurement and processing form a key component of its operations, supporting both domestic cigarette manufacturing and exports to international markets.[11]
The company states that it works with a large network of contracted farmers across tobacco-growing regions in southern India and has developed specialised tobacco varieties, including Indian Oriental tobacco and Dark Fire Cured tobacco, for use in domestic and export markets.[12] VST reports that its tobacco leaf business achieved a turnover of ₹472 crore in FY 2024–25, representing year-on-year growth.[12]
VST Industries’ principal business activities include the manufacture and trading of cigarettes and unmanufactured tobacco.[13] The company operates manufacturing facilities at Azamabad, Hyderabad, and Toopran in Telangana. The Toopran facility, which integrates primary and secondary manufacturing divisions, became fully operational during FY 2024–25.[12]
According to the company, VST distributes its products through a nationwide network of wholesale dealers and retail outlets and maintains regional offices in major Indian cities. Unmanufactured tobacco is also exported to overseas markets.[12]
VST Industries markets a portfolio of cigarette brands across different segments. Its brands include Total, Editions, Charms, Moments and Special.[14] In FY 2024–25, the company introduced new variants such as Editions Trio, Total Spin and Total Paan Delight.[15]
For the financial year ending 31 March 2025, VST Industries reported revenue from operations of ₹1,80,943 lakh and a net profit of ₹29,039 lakh.[12] The board recommended a dividend of ₹10 per share for FY 2024–25.[16]
VST Industries publishes an annual ESG report outlining its environmental, social and governance initiatives.[17] According to the company, its CSR activities include programmes in healthcare, education, rural development and environmental sustainability. The company reported CSR expenditure of ₹844 lakh during FY 2024–25.[12]
The company is governed by a board comprising executive, non-executive and independent directors. As of April 2025, Naresh Kumar Sethi serves as chairman of the board, and Piyush Srivastava as managing director and chief executive officer.[18][19]
British American Tobacco Plc is the principal promoter of VST Industries and held approximately 32.16% of the company’s equity as of 2025.[20] Other shareholders include institutional investors and public shareholders, including Bright Star Investments Private Limited.[21]
