VST IndustriesNSE:VSTIND -0.28%84 ROC (Joel Greenblatt) % is 69.01% as of Mar. 2026, which is 24% below its 10-year median of 90.25. GuruFocus rates NSE:VSTIND with a GF Score™ of 84/100 and a GF Value™ of ₹349.32 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 47 Tobacco Products companies, VST Industries ranks worse than 51.06% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. VST Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 69.01%.
The historical rank and industry rank for VST Industries's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:VSTIND'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 30.01 Med: 90.25 Max: 185.55
Current: 42.96
During the past 13 years, VST Industries's highest ROC (Joel Greenblatt) % was 185.55%. The lowest was 30.01%. And the median was 90.25%.
NSE:VSTIND's ROC (Joel Greenblatt) % is ranked worse than 51.06% of 47
companies
in the Tobacco Products industry
Industry Median: 42.96
vs NSE:VSTIND: 42.96
VST Industries's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -31.50% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
VST Industries ROC (Joel Greenblatt) % Related Terms
VST Industries ROC (Joel Greenblatt) % Historical Data
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The historical data trend for VST Industries's ROC (Joel Greenblatt) % 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: ROC (Joel Greenblatt) % Comparison
For the Tobacco subindustry, VST Industries's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, VST Industries's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where VST Industries's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 69.01% mean?
VST Industries (NSE:VSTIND) has a ROC (Joel Greenblatt) % of 69.01% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on VST Industries and its competitors. This is 24% below median its historical median of 90.25. Over the past decade, VST Industries' ROC (Joel Greenblatt) % has ranged from 30.01 to 185.55. According to the industry distribution chart, VST Industries ranks #24 out of 47 companies in the Tobacco Products industry, placing it in the top 51.1%.
Is VST Industries' ROC (Joel Greenblatt) % too high?
VST Industries' current ROC (Joel Greenblatt) % of 69.01% is 24% below median its 10-year median of 90.25. Over the past 10 years, this metric has ranged from a low of 30.01 to a high of 185.55. The Tobacco Products industry median ROC (Joel Greenblatt) % is 42.96. VST Industries' value of 69.01% is 60.6% above this industry median. Based on the distribution chart, VST Industries ranks #24 out of 47 companies in the Tobacco Products industry, which is below the industry midpoint. Overall, VST Industries has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does VST Industries' ROC (Joel Greenblatt) % compare to PM and MO?
According to the Tobacco Products industry distribution chart, VST Industries ranks #24 out of 47 companies for ROC (Joel Greenblatt) %. This places VST Industries in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 42.96. VST Industries' value of 69.01% is 60.6% above this benchmark. Historically, VST Industries' own ROC (Joel Greenblatt) % has ranged from 30.01 to 185.55 over the past decade. While the company's 10-year median is 90.25 vs. the industry median of 42.96, 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 ROC (Joel Greenblatt) % for a Tobacco Products company?
The median ROC (Joel Greenblatt) % among Tobacco Products companies is 42.96, based on 47 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. VST Industries's current ROC (Joel Greenblatt) % of 69.01% is 60.6% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on VST Industries and its competitors. For the Tobacco Products industry, the median ROC (Joel Greenblatt) % is 42.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VST Industries's current ROC (Joel Greenblatt) % is 69.01%, which is 24% below median its own 10-year median of 90.25. 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 ₹349.32, compared to a current price of ₹264.90 — trading 24.2% below its estimated fair value. The current ROC (Joel Greenblatt) % is 69.01%, which is 24% below median its 10-year median of 90.25 and 60.6% above the Tobacco Products industry median of 42.96. VST Industries' overall GF Score™ is 84/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For VST Industries (NSE:VSTIND), the current ROC (Joel Greenblatt) % is 69.01% 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 ₹264.90 is trading 24.2% below its estimated GF Value™ of ₹349.32.
GuruFocus considers VST Industries to be Modestly Undervalued.
Key valuation signals for NSE:VSTIND:
ROC (Joel Greenblatt) %: 69.01% (24% below median its 10-year median of 90.25)
GF Value™: ₹349.32 vs. price of ₹264.90 (24.2% below fair value)
Industry Position: 60.6% above the Tobacco Products median (#24 of 47)
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.
84GF Score
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