VST Industries Limited announced its unaudited financial results for the third quarter of FY26 ended December 31, 2025, alongside significant leadership and auditor appointments. The tobacco company's Board of Directors approved these developments during their meeting held on January 29, 2026.

Financial Performance Q3FY26

The company delivered steady financial performance during the quarter, with revenue from operations reaching ₹49,137 lakhs compared to ₹46,974 lakhs in the corresponding quarter of the previous year. Net profit after tax stood at ₹6,023 lakhs for Q3FY26, while the previous year's corresponding quarter recorded ₹13,626 lakhs, which included exceptional gains.

Nine-Month Performance FY26

For the nine months ended December 31, 2025, VST Industries reported revenue from operations of ₹135,307 lakhs, marginally higher than ₹135,285 lakhs in the corresponding period of the previous year. The company achieved net profit after tax of ₹17,557 lakhs during this period, with basic earnings per share of ₹10.34.

Leadership Appointment

The Board of Directors approved the appointment of Mr. Piyush Srivastava as Additional Director and Managing Director & Chief Executive Officer for a five-year term effective March 2, 2026. This appointment requires shareholder approval through postal ballot.

Mr. Srivastava, aged 51 years, brings over 25 years of experience across FMCG and Alco-Beverage sectors in India and Asian markets. He holds engineering and MBA degrees from prestigious institutions and has held senior positions with Pernod Ricard, PepsiCo, Marico, ITC-AT, and Tata Motors. His expertise spans commercial strategy, sales and distribution, and business transformation.

Statutory Auditor Change

The Board recommended the appointment of M/s. Price Waterhouse Chartered Accountants LLP as statutory auditors for five consecutive years, from the conclusion of the 95th Annual General Meeting until the 100th Annual General Meeting. This recommendation requires shareholder approval at the upcoming AGM.

Price Waterhouse Chartered Accountants LLP, established in 1991, operates from 16 branch offices across India including Hyderabad. The firm has more than 125 Assurance Partners as of December 31, 2025, and maintains a valid peer review certificate while auditing various listed companies.

Operational Highlights

The company operates in a single segment of tobacco and related products. Key expense components during Q3FY26 included cost of materials consumed at ₹21,207 lakhs, excise duty of ₹11,840 lakhs, and employee benefits expense of ₹3,643 lakhs. The company implemented provisions related to new labour codes, recognizing additional gratuity and leave liability of ₹601 lakhs based on actuarial valuation.

The Board meeting commenced at 10:45 AM and concluded at 1:30 PM on January 29, 2026, with the financial results receiving limited review certification from statutory auditors BSR & Associates LLP.

VST Industries Limited has announced the appointment of Mr. Saurabh Grover as Vice President-Sales & Marketing, effective January 19, 2026. The appointment was approved by the Board of Directors through circulation and disclosed under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Key Appointment Details

The company has formally notified both BSE Limited and National Stock Exchange of India about this senior management appointment. Mr. Grover has been designated as Senior Management Personnel of the company in his new role.

Professional Background and Experience

Mr. Grover brings extensive experience spanning over 24 years across multiple functional areas including P&L management, sales, marketing, innovation, and customer marketing. His career encompasses leadership roles at several leading FMCG and beverage organizations, demonstrating a rich blend of strategic and operational expertise.

Career Highlights

His professional journey includes significant tenures at prominent companies:

• Diageo - Recent role before joining VST Industries
• Britannia Industries - FMCG foundation building
• Marico - Consumer goods experience
• PepsiCo (Frito-Lay) - Food division expertise
• General Mills - International FMCG exposure
• Eveready - Consumer products experience

Geographic and Functional Expertise

Mr. Grover's leadership experience extends across India and key international markets, including Southeast Asia and Africa. His career reflects a strong record of driving growth, profitability, and organizational transformation across diverse geographic regions.

Core Competencies

His earlier experience has helped him develop deep expertise in several critical areas:

• Trade marketing and channel development
• Regional sales management
• Distribution systems optimization
• Consumer behavior analysis
• Customer engagement strategies

These skills have remained core to his leadership philosophy throughout his career progression.

Educational Qualifications

Mr. Grover holds a postgraduate degree in Management from MDI, Gurgaon, providing him with a strong academic foundation to complement his extensive industry experience.

Regulatory Compliance

The appointment has been made in compliance with SEBI regulations, with all requisite disclosures provided as per Regulation 30 read with Schedule III-Para A of the Listing Regulations. The company has also adhered to SEBI Circular Ref. No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 requirements.