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VST Industries Seeks Shareholder Approval to Appoint Piyush Srivastava as MD & CEO for 5 Years
VST Industries has issued a postal ballot notice to seek shareholder approval for the appointment of Mr. Piyush Srivastava as Managing Director and CEO. The proposed appointment is for a five-year term commencing from March 2, 2026, through March 1, 2031. Shareholders as of the cut-off date of February 27, 2026, are eligible to participate in the electronic voting process. The voting results will be declared by April 5, 2026, following the conclusion of the e-voting period on April 3, 2026.
Key Highlights
Appointment of Mr. Piyush Srivastava as MD & CEO for a fixed term of 5 years starting March 2, 2026.
Remote e-voting period is set from March 5, 2026 (9:00 AM) to April 3, 2026 (5:00 PM).
Eligibility for voting is determined by the cut-off date of February 27, 2026.
The resolution is being proposed as an Ordinary Resolution via postal ballot only.
Final results of the shareholder vote will be announced within 2 working days of the voting deadline.
💼 Action for Investors
Investors should monitor the leadership transition and review the new CEO's strategic vision for the company's growth in the tobacco and FMCG sectors. Shareholders are encouraged to exercise their voting rights during the specified window.
VST Industries Q3 FY26: Cigarette Revenue Up 10.5%, EBITDA Margins Expand 400 Bps
VST Industries reported a strong performance for the nine months ended December 31, 2025, driven by a 10.6% growth in cigarette volumes. Cigarette revenue reached Rs. 1,101 crores, while EBITDA grew by 15% to Rs. 241 crores. The company saw a significant margin expansion of 400 basis points, reaching 24.0%, aided by digitization and cost management. Although the unmanufactured tobacco segment continues to face headwinds, the core cigarette business shows robust recovery and brand strength.
Key Highlights
Cigarette volumes grew 10.6% YoY to an average of 706 million per month for 9MFY26
EBITDA increased by 15.4% YoY to Rs. 241 crores with margins expanding from 20% to 24%
Adjusted Profit After Tax (excluding last year's property sale) rose 16.6% to Rs. 175.6 crores
Cigarette segment revenue grew 10.5% to Rs. 1,101 crores, offsetting weakness in tobacco leaf exports
Market reach remains strong with presence in over 10 lakh retail outlets and two brands in the Top 10
💼 Action for Investors
The stock shows strong operational recovery and margin improvement in its core cigarette business. Investors should maintain a positive outlook while monitoring the sustainability of volume growth and any potential regulatory changes in the upcoming Union Budget.
VST Industries Q3 Core PBT Up 24.5%; Appoints Piyush Srivastava as MD & CEO
VST Industries reported a steady Q3 FY26 with revenue from operations rising 4.5% YoY to ₹491.85 crore. While reported PAT fell to ₹60.23 crore from ₹136.26 crore, the previous year's figures were inflated by a ₹100.49 crore exceptional gain; excluding this, core Profit Before Tax grew significantly by 24.5% YoY. In a major leadership move, the company appointed FMCG veteran Piyush Srivastava (ex-Pernod Ricard, PepsiCo) as MD & CEO for a five-year term. Additionally, the board recommended Price Waterhouse as the new statutory auditor following the mandatory rotation of BSR & Associates.
Key Highlights
Revenue from operations increased to ₹491.85 crore in Q3 FY26 from ₹470.55 crore in Q3 FY25.
Core Profit Before Tax (excluding exceptional items) grew 24.5% YoY to ₹81.09 crore.
Piyush Srivastava appointed as MD & CEO for 5 years effective March 2, 2026, bringing 25+ years of FMCG experience.
Price Waterhouse Chartered Accountants LLP proposed as new Statutory Auditors for a 5-year term starting from the 95th AGM.
Reported PAT of ₹60.23 crore for the quarter with a Basic EPS of ₹3.55.
💼 Action for Investors
The appointment of a high-caliber leader from the FMCG and Alco-Bev sector suggests a strategic focus on portfolio premiumization and business transformation. Investors should view the strong core profit growth and leadership transition as positive indicators for long-term value creation.
VST Industries Q3 PAT at ₹60.23 Cr; Appoints Piyush Srivastava as MD & CEO
VST Industries reported a stable sequential performance for Q3 FY26, with revenue from operations reaching ₹491.85 crore, a 9.2% increase over the preceding quarter. A significant leadership transition was announced with the appointment of Mr. Piyush Srivastava, a veteran from Pernod Ricard and PepsiCo, as the new MD & CEO for a five-year term starting March 2026. Net profit for the quarter stood at ₹60.23 crore, showing marginal growth from ₹59.21 crore in Q2 FY26. The company also recommended Price Waterhouse as the new statutory auditor, replacing BSR & Associates.
Key Highlights
Revenue from operations grew 9.2% QoQ to ₹491.85 crore in the quarter ended December 2025.
Net Profit (PAT) reached ₹60.23 crore, showing a slight sequential increase from ₹59.21 crore.
Piyush Srivastava appointed as MD & CEO for 5 years, bringing 25+ years of experience from Pernod Ricard, PepsiCo, and Marico.
Price Waterhouse Chartered Accountants LLP recommended as new Statutory Auditors for a 5-year term.
9M FY26 PAT stands at ₹175.57 crore, compared to ₹237.40 crore in the previous year which included a ₹100.49 crore exceptional gain.
💼 Action for Investors
Investors should view the appointment of a seasoned FMCG and Alco-Bev leader as a positive move toward potential business transformation and premiumization. Monitor the new CEO's strategic roadmap starting March 2026 for long-term growth catalysts.
VST Industries Q3 Operational Profit Grows 24.5% YoY; Appoints New MD & CEO
VST Industries reported a steady performance for Q3 FY26 with Gross Revenue reaching ₹491.85 crore, up from ₹470.55 crore YoY. While the reported Net Profit of ₹60.23 crore appears lower than the ₹136.26 crore in the previous year's quarter, the latter was inflated by a one-time exceptional gain of ₹100.49 crore. On an operational basis, Profit Before Tax (excluding exceptional items) grew significantly by 24.5% YoY to ₹81.09 crore. The company also announced a major leadership change, appointing FMCG veteran Piyush Srivastava as the new MD & CEO effective March 2026.
Key Highlights
Gross Revenue from Operations increased to ₹491.85 crore in Q3 FY26 vs ₹470.55 crore in Q3 FY25.
Profit Before Tax (excluding exceptional items) rose 24.5% YoY to ₹81.09 crore from ₹65.14 crore.
Net Profit for the quarter stood at ₹60.23 crore; previous year's ₹136.26 crore included a ₹100.49 crore exceptional gain.
Piyush Srivastava, formerly with Pernod Ricard and PepsiCo, appointed as MD & CEO for a 5-year term.
Price Waterhouse Chartered Accountants LLP recommended as new Statutory Auditors starting from the 95th AGM.
💼 Action for Investors
Investors should focus on the strong operational profit growth and the strategic appointment of a seasoned FMCG leader as CEO. The stock remains a watch for potential strategy shifts under the new leadership starting March 2026.
VST Industries Appoints FMCG Veteran Saurabh Grover as VP Sales & Marketing
VST Industries has appointed Mr. Saurabh Grover as Vice President of Sales & Marketing, effective January 19, 2026. Mr. Grover is a seasoned professional with over 24 years of experience in the FMCG and beverage industries, having held leadership roles at Diageo, Britannia, and PepsiCo. His expertise covers P&L management, sales, and marketing across both Indian and international markets like Southeast Asia and Africa. This appointment is expected to bolster the company's strategic leadership and distribution capabilities.
Key Highlights
Appointment of Mr. Saurabh Grover as VP - Sales & Marketing effective January 19, 2026
Candidate brings over 24 years of cross-functional experience in leading FMCG and beverage organizations
Previous experience includes senior roles at Diageo, Britannia, Marico, PepsiCo, and General Mills
Expertise includes P&L management, channel development, and organizational transformation across global markets
💼 Action for Investors
Investors should view this as a positive move to strengthen the senior management team with high-caliber FMCG talent. Monitor for any strategic shifts in sales and distribution efficiency in the upcoming quarters.