VST Industries Limited Valuation
VSTIND · Fast Moving Consumer Goods · Current price ₹201.79
Is VST Industries Limited undervalued?
We estimate the fair value of VST Industries Limited at ₹204 per share, against a market price of ₹204. That puts the share price about +0.0% below our estimate, at high confidence. This is our view of what the business is worth, not a target price or a forecast of where the share price will go.
How this fair value is calculated
This estimate comes from 1 method: Discounted cash flow (2-stage) (₹204). Each is weighted by how well its inputs held up for this company. The full working, including the assumptions and what data was missing, is set out below.
The range around this estimate
Our estimate for VST Industries Limited spans ₹184 to ₹224. A margin of safety means buying meaningfully below the estimate: the wider the range, the more room the assumptions leave for error.
Valuation multiples
VST Industries Limited trades at a P/E of 11.7x and a P/B of 2.4x, with a dividend yield of 5.8%. Multiples are most useful compared against the company's own history and its sector peers — see the peer comparison for context.
How we got this fair value
Every number below is part of the same estimate for VST Industries Limited. Nothing here is a target price or a forecast of where the share price will go.
The models agree and the inputs are well covered. Treat this as our firmest estimate.
Estimate range ₹184 – ₹224
Why this method for this business
DCF is the most appropriate model for VST Industries, given its asset-light structure and stable cash flows in the FMCG sector.
The models behind the number
Each method is weighted by how well its inputs held up for this company.
Intrinsic value from 2-stage discounted cash flows (primary for asset-light / normal businesses); FCFE path
- Relative PE is rejected due to its implausibly high implied value
- PEG is not used due to lack of forward estimates
What was missing
- Forward estimates are not available to support alternative valuation methods
What drives it
12 inputs, grouped by how strong each claim is
- FCF_0 (normalized)
- 229 ₹cr
- Net debt
- -23.7 ₹cr
fcf_norm (median ≤5y positive)
total_debt − cash
- Discount rate (r)
- 12.9%
- Beta
- 0.8
COE (building-block)
bottom-up industry
- Stage-1 start growth
- 5.5%
- Fade shape
- linear
- Terminal growth (g)
- 5.5%
- Stage-1 years
- 14 y
pat_cagr_5y
lifecycle Mature
macro terminal × quality premium
lifecycle Mature horizon
- Lifecycle stage
- Mature
- Quality premium
- 1.1×
forecast engine (L20)
moat Wide + capital allocation
- Path
- FCFE
- Terminal-value fraction
- 0.387
computed (D/E vs 0.8)
PV_TV / (PV_1+PV_TV)
Who computed this
A language model (qwen3:8b) selects the valuation method and the judgement inputs for VST Industries Limited: which models suit the business, the moat, the growth and margin assumptions. It does not produce the number. The fair value itself is computed in Python by a deterministic engine (version 2026.08.1) from those inputs, so the same inputs always give the same result and every figure above can be traced to a source.
Estimated 15 Sept 2026. Re-run as new financials and news arrive.
How we value stocks
We estimate what a business is worth from its own economics: cash flows, returns on capital, and a multiple justified by its quality, rather than from where the share price has been. A fair value estimate is a view, not a verdict, and it is only as good as the inputs listed above.
Read the full fair-value methodologyUnderstand the ratios
More on VST Industries Limited
DocStoX estimates are computed from reported financials, for informational purposes only, not investment advice. Consult a SEBI-registered advisor before investing.