VST IndustriesNSE:VSTIND +2.44%86 Return-on-Tangible-Equity is 32.29% as of Mar. 2026, which is 6% above its 10-year median of 30.41. GuruFocus rates NSE:VSTIND with a GF Score™ of 86/100 and a GF Value™ of ₹348.32 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 44 Tobacco Products companies, VST Industries ranks worse than 56.82% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. VST Industries's annualized net income for the quarter that ended in Mar. 2026 was ₹4,668 Mil. VST Industries's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹14,457 Mil. Therefore, VST Industries's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 32.29%.
The historical rank and industry rank for VST Industries's Return-on-Tangible-Equity or its related term are showing as below:
NSE:VSTIND'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 21.11 Med: 30.41 Max: 41.92
Current: 21.72
During the past 13 years, VST Industries's highest Return-on-Tangible-Equity was 41.92%. The lowest was 21.11%. And the median was 30.41%.
NSE:VSTIND's Return-on-Tangible-Equity is ranked worse than 56.82% of 44
companies
in the Tobacco Products industry
Industry Median: 25.395
vs NSE:VSTIND: 21.72
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
VST Industries Return-on-Tangible-Equity Related Terms
VST Industries Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for VST Industries's Return-on-Tangible-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:VSTIND vs PM, MO, TPB: Return-on-Tangible-Equity Comparison
For the Tobacco subindustry, VST Industries's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
VST Industries Return-on-Tangible-Equity vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, VST Industries's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where VST Industries's Return-on-Tangible-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 32.29% mean?
VST Industries (NSE:VSTIND) has a Return-on-Tangible-Equity of 32.29% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on VST Industries and its competitors. This is near median its historical median of 30.41. Over the past decade, VST Industries' Return-on-Tangible-Equity has ranged from 21.11 to 41.92. According to the industry distribution chart, VST Industries ranks #25 out of 44 companies in the Tobacco Products industry, placing it in the top 56.8%.
Is VST Industries' Return-on-Tangible-Equity too high?
VST Industries' current Return-on-Tangible-Equity of 32.29% is near median its 10-year median of 30.41. Over the past 10 years, this metric has ranged from a low of 21.11 to a high of 41.92. The Tobacco Products industry median Return-on-Tangible-Equity is 25.40. VST Industries' value of 32.29% is 27.2% above this industry median. Based on the distribution chart, VST Industries ranks #25 out of 44 companies in the Tobacco Products industry, which is below the industry midpoint. Overall, VST Industries has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does VST Industries' Return-on-Tangible-Equity compare to PM and MO?
According to the Tobacco Products industry distribution chart, VST Industries ranks #25 out of 44 companies for Return-on-Tangible-Equity. This places VST Industries in the lower half of its industry. The industry median Return-on-Tangible-Equity is 25.40. VST Industries' value of 32.29% is 27.2% above this benchmark. Historically, VST Industries' own Return-on-Tangible-Equity has ranged from 21.11 to 41.92 over the past decade. While the company's 10-year median is 30.41 vs. the industry median of 25.40, VST Industries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for a Tobacco Products company?
The median Return-on-Tangible-Equity among Tobacco Products companies is 25.40, based on 44 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. VST Industries's current Return-on-Tangible-Equity of 32.29% is 27.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on VST Industries and its competitors. For the Tobacco Products industry, the median Return-on-Tangible-Equity is 25.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VST Industries's current Return-on-Tangible-Equity is 32.29%, which is near median its own 10-year median of 30.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VST Industries stock overvalued right now?
Based on GuruFocus' analysis, VST Industries (NSE:VSTIND) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹348.32, compared to a current price of ₹268.40 — trading 22.9% below its estimated fair value. The current Return-on-Tangible-Equity is 32.29%, which is near median its 10-year median of 30.41 and 27.2% above the Tobacco Products industry median of 25.40. VST Industries' overall GF Score™ is 86/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For VST Industries (NSE:VSTIND), the current Return-on-Tangible-Equity is 32.29% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is VST Industries (NSE:VSTIND) Overvalued in 2026?
Based on GuruFocus' analysis, VST Industries stock appears to be undervalued.
The current stock price of ₹268.40 is trading 22.9% below its estimated GF Value™ of ₹348.32.
GuruFocus considers VST Industries to be Modestly Undervalued.
Key valuation signals for NSE:VSTIND:
Return-on-Tangible-Equity: 32.29% (near median its 10-year median of 30.41)
GF Value™: ₹348.32 vs. price of ₹268.40 (22.9% below fair value)
Industry Position: 27.2% above the Tobacco Products median (#25 of 44)
No single metric tells the full story. See the NSE:VSTIND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
VST Industries Ltd manufactures and distributes cigarettes and unmanufactured tobacco under the brand names Charms, Charminar, Gold, Moments, and Zaffran. The company operates its business out of India. In terms of revenue from operations, a majority comes from the sale of cigarettes and the remainder generally comes from the sale of unmanufactured tobacco. It has a single operating segment which is. Tobacco and related products. Geographical segments consist of sales within India and sales outside of India with a majority derived from India.
86GF Score
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