VST Industries Limited has announced a significant leadership change with the resignation of Mr. Sanjay Wali from his position as Director and Whole-time Director. The resignation, effective from March 2nd, 2026, was communicated to stock exchanges under regulatory compliance requirements.

Resignation Details

Mr. Sanjay Wali, holding Director Identification Number (DIN) 10868596, submitted his resignation letter on March 1st, 2026, citing personal reasons for his decision to step down. The resignation takes effect from the beginning of March 2nd, 2026.

Committee Memberships Impact

Consequent to his resignation from the board, Mr. Wali will also cease to hold memberships in several key committees:

• Stakeholders Relationship Committee
• Corporate Social Responsibility (CSR) Committee
• Risk Management Committee

This departure will require the company to restructure these committee compositions to maintain regulatory compliance and operational effectiveness.

Board Acceptance and Transition

The Board of Directors formally accepted Mr. Wali's resignation through a resolution approved by majority circulation on March 2nd, 2026. In his resignation letter, Mr. Wali expressed appreciation for the support and collaboration received from board members, management team, and employees during his tenure.

The outgoing director confirmed that there are no material reasons for his resignation beyond those stated in his formal communication to the board.

Continued Association

Despite stepping down from his directorial position, Mr. Sanjay Wali will maintain his association with VST Industries in a new capacity. The Board has approved his continuation as a special advisor to the Managing Director for a period to be mutually agreed upon between the company and Mr. Wali.

This arrangement ensures continuity of his expertise and experience while facilitating a smooth transition of his directorial responsibilities. The company has indicated that this advisory role will support the transition process and maintain institutional knowledge.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, and related SEBI Master Circular requirements. VST Industries has provided all necessary documentation and confirmations to both BSE Limited and National Stock Exchange of India Limited as per regulatory mandates.

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.