VST's standalone margin beats FMCG peer median in Q1FY27
Other income of Rs 19.78 cr supplemented operating profit, while the results were filed after market close.
Filed 28 Jul 2026, 17:17 IST · after market close · VST Industries Ltd (VSTIND)
Key takeaways
- VST Industries' standalone operating margin of 19.37% was 3.22 percentage points above the 16.15% median for 11 FMCG peers.
- Other income of Rs 19.78 cr supplemented operating profit, so reported pre-tax earnings included a material non-operating contribution.
- With no interest expense, standalone net profit was Rs 42.42 cr after Rs 11.17 cr of depreciation and Rs 15.86 cr of tax.
Price around the results
Operating margin outpaced FMCG peers
VST Industries reported a standalone operating margin of 19.37%, 3.22 percentage points above the 16.15% median for 11 FMCG peers that had reported the quarter. The comparison places the company above the sector midpoint, although the filing provides no year-on-year or sequential bridge for the change.
Reported profit included other-income support
Operating profit of Rs 49.67 cr was supplemented by Rs 19.78 cr of other income, so profit before tax was not generated by operations alone. Interest expense was nil, while depreciation of Rs 11.17 cr and tax of Rs 15.86 cr reduced the operating and pre-tax earnings bridge. The reported tax rate was 27.21%.
Results were filed after market close
The standalone results were filed at 17:17 IST on 28 July 2026, after the market closed. There is no immediate stock reaction to assess in this release.
Q1FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹256 cr |
| Other income | ₹20 cr |
| Expenses | ₹207 cr |
| Operating profit | ₹50 cr |
| Operating margin (%) | 19.37% |
| Interest | ₹0 cr |
| Depreciation | ₹11 cr |
| Profit before tax | ₹58 cr |
| Tax | ₹16 cr |
| Net profit | ₹42 cr |
| EPS (₹) | ₹2.50 |
Operating margin of 19.37% compares with a Fast Moving Consumer Goods sector median of 16.15% across 11 peers that have reported Q1FY27.
What to watch
- Whether operating margin holds above 19.37% in the next reported quarter.
- Whether other income remains near Rs 19.78 cr or contributes less to pre-tax profit.
- Whether interest expense remains at Rs 0.00 cr.