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.

The Indian government is considering various options to replace the existing compensation cess on tobacco products, with plans to potentially announce a new levy in the Budget 2026. This development could have implications for tobacco companies, including Godfrey Phillips India Ltd and VST Industries .

Potential Tax Structure Changes

The government's exploration of alternatives to the current tobacco compensation cess signals a possible shift in the tax structure for tobacco products. While specific details of the proposed changes are yet to be revealed, this move could potentially affect:

• The overall tax burden on tobacco companies
• Pricing strategies for tobacco products
• Operational costs for manufacturers

Industry-Wide Effects

The potential changes in taxation may affect various companies in the tobacco industry. This industry-wide impact could lead to:

• Shifts in market dynamics and competitive positioning
• Possible changes in consumer behavior due to potential price adjustments
• Increased focus on operational efficiency to mitigate any effects of the new tax structure

Looking Ahead

As the government continues to study options for replacing the tobacco compensation cess, stakeholders in the tobacco industry will be closely monitoring developments. The eventual announcement in Budget 2026 may provide clarity on the new tax structure and its implications for tobacco companies in India.

Investors and industry analysts may need to stay informed about these potential changes and their possible impact on the financial performance and strategic direction of tobacco companies in the country.