Sector Alpha Week of 2026-08-05
20-quarter listed-company comparison

Cigarettes & Tobacco Products Stocks in India

Cigarettes & Tobacco Products: ITC Ltd owns the largest revenue base; VST Industries Ltd has the fastest current growth.

01 · the index people search for

Nifty Cigarettes & Tobacco Products Index — Constituents & Performance

The Cigarettes & Tobacco Products companies below are the listed Indian Cigarettes & Tobacco Products universe this page tracks — the same constituent set people search for as the Nifty Cigarettes & Tobacco Products index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

02 · the sector itself · before any single company

How has Cigarettes & Tobacco Products moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 16% behind NIFTY 500. Earnings across its companies grew 16% on average over the last four reported quarters.

ASLEEP · 1y −28.9%Fundamentals up, price down0 of 3 companies ahead of NIFTY 500 by 5% or more over three months

RS — · 0/3 >200d (−1) · 0/3 lead (−2) · EPS 1/3↑

20050020262025202420232022 422333 TRAILING 12-MONTH EPS · 100 AT THE START0100211Jun 22Dec 22Jun 23Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reportingSep 2022 · trailing 12-month earnings per share at 105, against 100 at the start · no comparable year yet · 3 reportingDec 2022 · trailing 12-month earnings per share at 111, against 100 at the start · no comparable year yet · 3 reportingMar 2023 · trailing 12-month earnings per share at 117, against 100 at the start · no comparable year yet · 3 reportingJun 2023 · trailing 12-month earnings per share at 121, against 100 at the start · up 20.7% on a year ago · 3 reportingSep 2023 · trailing 12-month earnings per share at 122, against 100 at the start · up 16.0% on a year ago · 3 reportingDec 2023 · trailing 12-month earnings per share at 124, against 100 at the start · up 11.9% on a year ago · 3 reportingMar 2024 · trailing 12-month earnings per share at 124, against 100 at the start · up 6.0% on a year ago · 3 reportingJun 2024 · trailing 12-month earnings per share at 124, against 100 at the start · up 2.3% on a year ago · 3 reportingSep 2024 · trailing 12-month earnings per share at 124, against 100 at the start · up 1.4% on a year ago · 3 reportingDec 2024 · trailing 12-month earnings per share at 121, against 100 at the start · up 15.4% on a year ago · 3 reportingMar 2025 · trailing 12-month earnings per share at 209, against 100 at the start · up 21.4% on a year ago · 3 reportingJun 2025 · trailing 12-month earnings per share at 210, against 100 at the start · up 40.0% on a year ago · 3 reportingSep 2025 · trailing 12-month earnings per share at 211, against 100 at the start · up 39.1% on a year ago · 3 reportingDec 2025 · trailing 12-month earnings per share at 211, against 100 at the start · up 27.5% on a year ago · 3 reportingMar 2026 · trailing 12-month earnings per share at 125, against 100 at the start · up 0.7% on a year ago · 3 reportingJun 2026 · trailing 12-month earnings per share at 119, against 100 at the start · down 4.8% on a year ago · 3 reportingNot reported yet — earnings trail price by a quarter or two119No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
20050020262025202420232022 422333 TRAILING 12-MONTH EPS · 100 AT THE START0100211Jun 22Jun 23Jun 24Jun 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reportingSep 2022 · trailing 12-month earnings per share at 105, against 100 at the start · no comparable year yet · 3 reportingDec 2022 · trailing 12-month earnings per share at 111, against 100 at the start · no comparable year yet · 3 reportingMar 2023 · trailing 12-month earnings per share at 117, against 100 at the start · no comparable year yet · 3 reportingJun 2023 · trailing 12-month earnings per share at 121, against 100 at the start · up 20.7% on a year ago · 3 reportingSep 2023 · trailing 12-month earnings per share at 122, against 100 at the start · up 16.0% on a year ago · 3 reportingDec 2023 · trailing 12-month earnings per share at 124, against 100 at the start · up 11.9% on a year ago · 3 reportingMar 2024 · trailing 12-month earnings per share at 124, against 100 at the start · up 6.0% on a year ago · 3 reportingJun 2024 · trailing 12-month earnings per share at 124, against 100 at the start · up 2.3% on a year ago · 3 reportingSep 2024 · trailing 12-month earnings per share at 124, against 100 at the start · up 1.4% on a year ago · 3 reportingDec 2024 · trailing 12-month earnings per share at 121, against 100 at the start · up 15.4% on a year ago · 3 reportingMar 2025 · trailing 12-month earnings per share at 209, against 100 at the start · up 21.4% on a year ago · 3 reportingJun 2025 · trailing 12-month earnings per share at 210, against 100 at the start · up 40.0% on a year ago · 3 reportingSep 2025 · trailing 12-month earnings per share at 211, against 100 at the start · up 39.1% on a year ago · 3 reportingDec 2025 · trailing 12-month earnings per share at 211, against 100 at the start · up 27.5% on a year ago · 3 reportingMar 2026 · trailing 12-month earnings per share at 125, against 100 at the start · up 0.7% on a year ago · 3 reportingJun 2026 · trailing 12-month earnings per share at 119, against 100 at the start · down 4.8% on a year ago · 3 reportingNot reported yet — earnings trail price by a quarter or twoNo earnings on file this far back — the price series reaches further than the filings do
Cigarettes & Tobacco Products, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 3 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is Cigarettes & Tobacco Products outperforming NIFTY 500?

Cigarettes & Tobacco Products has underperformed NIFTY 500 by 24.1% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 11.2%. 0 of 3 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. ITC Ltd is the strongest against the sector itself at 0%.

-11.2%Sector vs NIFTY 500 · 13 weeks
-24.1%Sector vs NIFTY 500 · 52 weeks
0/3Stocks leading NIFTY 500
0/3Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Cigarettes & Tobacco Products has underperformed NIFTY 500 by 24.1% over 52 weeks and 11.2% over 13 weeks. 0 of 3 covered companies beat NIFTY on Mansfield relative strength, while 0 of 3 beat the sector itself. ITC Ltd leads with revenue of ₹76,488 crore, based on 3 of 3 comparable companies through Jun 2026.

Companies
3
complete canonical membership
Combined market value
₹3.9 L Cr
ITC Ltd
Revenue growing
2/3
positive TTM year-on-year growth
Beating NIFTY 500
0/3
positive Mansfield relative strength
Comparing 3 of 3
04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Godfrey Phillips India Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 97% evidence confidence.
VST Industries Ltd looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Godfrey Phillips India LtdGODFRYPHLP 54.6/100Mixed-positive evidence97% evidence ASLEEP 16.7/35 Revenue 1.7% · PAT 13.9% · OPM change -8 pp 100% evidence 18.7/25 ROCE 32.8% · OPM 15% 100% evidence 13.2/20 P/E 24.3× · PEG 1.15 85% evidence 6.0/20 RS sector -5.6% · RS bench -18.5% · 1Y -27.1%5 of 12 weeks ahead 100% evidence
Exact sum: 16.7 + 18.7 + 13.2 + 6 = 54.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2VST Industries LtdVSTIND 53.3/100Mixed-positive evidence97% evidence ASLEEP 13.2/35 Revenue 3.5% · PAT -5.1% · OPM change -7 pp 100% evidence 19.7/25 ROCE 28.1% · OPM 19% 100% evidence 16.4/20 P/E 13.5× · PEG 1.09 85% evidence 4.0/20 RS sector -0.6% · RS bench -12.8% · 1Y -21.4%9 of 12 weeks ahead 100% evidence
Exact sum: 13.2 + 19.7 + 16.4 + 4 = 53.3 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
3ITC LtdITC 38.4/100Mixed-negative evidence91% evidence ASLEEP 3.0/35 Revenue -3.2% · PAT -42.7% · OPM change -5 pp 100% evidence 20.0/25 ROCE 38.9% · OPM 27% 100% evidence 7.9/20 P/E 17.8× · PEG 3.51 85% evidence 7.5/20 RS sector 0% · RS bench -19.9% · 1Y -31.4%0 of 10 weeks ahead 70% evidence
Exact sum: 3 + 20 + 7.9 + 7.5 = 38.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
05 · what price has already done

Market action

VST Industries Ltd has the strongest one-year price move in Cigarettes & Tobacco Products at -21.4%. It also leads on Mansfield relative strength against NIFTY at -12.8%. 0 of 3 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · compare level, then change

Revenue Scale & Growth Durability

ITC Ltd has the highest Revenue among the 3 Cigarettes & Tobacco Products companies compared here, at ₹76,488 crore. Godfrey Phillips India Ltd is next at ₹6,111 crore. VST Industries Ltd has the highest Revenue growth at 3.5%, so level and change sit with different companies. 3 of 3 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: ITC Ltd is the scale leader at ₹76,488 crore, 12.5× the revenue of Godfrey Phillips India Ltd. VST Industries Ltd's growth is 3.5% from a ₹1,422 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderITC Ltd · ₹76,488 crore
Gap12.5× versus #2 · Godfrey Phillips India Ltd
Persistence5/8 recent comparable periods
Coverage3/3 companies · 60 observations

Investor read: ITC Ltd is the scale benchmark; VST Industries Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: ITC Ltd's growth falls below VST Industries Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1ITC Ltd ITC₹76.5K Cr
2Godfrey Phillips India Ltd GODFRYPHLP₹6.1K Cr
3VST Industries Ltd VSTIND₹1.4K Cr
Revenue growthfastest growers
1VST Industries Ltd VSTIND3.5%
3ITC Ltd ITC-3.2%
Revenue · company comparison
3/3 level · 3/3 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
ITC Ltd ITC₹19.1K Cr-11%Jun 2026
Godfrey Phillips India Ltd GODFRYPHLP₹1.2K Cr-19%Jun 2026
VST Industries Ltd VSTIND₹256 Cr-14%Jun 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Godfrey Phillips India Ltd · GODFRYPHLP

₹646 Cr
₹706 Cr
₹724 Cr
₹828 Cr
₹1.0K Cr
₹920 Cr
₹796 Cr
₹1.0K Cr
₹1.2K Cr
₹1.3K Cr
₹875 Cr
₹1.1K Cr
₹1.4K Cr
₹1.6K Cr
₹1.6K Cr
₹1.5K Cr
₹1.3K Cr
₹1.8K Cr
₹1.8K Cr
₹1.2K Cr

ITC Ltd · ITC

₹13.8K Cr
₹17.1K Cr
₹16.6K Cr
₹18.5K Cr
₹17.1K Cr
₹17.7K Cr
₹17.6K Cr
₹17.2K Cr
₹17.8K Cr
₹17.2K Cr
₹17.0K Cr
₹17.8K Cr
₹20.0K Cr
₹18.8K Cr
₹18.8K Cr
₹21.5K Cr
₹19.5K Cr
₹20.0K Cr
₹17.8K Cr
₹19.1K Cr

VST Industries Ltd · VSTIND

₹272 Cr
₹329 Cr
₹303 Cr
₹301 Cr
₹344 Cr
₹346 Cr
₹302 Cr
₹333 Cr
₹350 Cr
₹363 Cr
₹375 Cr
₹321 Cr
₹360 Cr
₹367 Cr
₹349 Cr
₹298 Cr
₹336 Cr
₹373 Cr
₹457 Cr
₹256 Cr

Revenue growth · reported quarter history

Godfrey Phillips India Ltd · GODFRYPHLP

36%
58%
30%
9.9%
26%
14%
36%
9.9%
4.0%
17%
27%
80%
37%
-5.2%
15%
14%
-19%

ITC Ltd · ITC

40%
24%
3.5%
6.5%
-7.2%
3.9%
-2.9%
-3.4%
3.6%
12%
9.3%
10%
21%
-2.4%
6.7%
-5.0%
-11%

VST Industries Ltd · VSTIND

9.5%
26%
5.2%
-0.3%
11%
1.7%
4.9%
24%
-3.6%
2.9%
1.1%
-6.9%
-7.2%
-6.7%
1.6%
31%
-14%
07 · compare level, then change

Operating Economics & Margin Trend

ITC Ltd has the highest OPM among the 3 Cigarettes & Tobacco Products companies compared here, at 27%. VST Industries Ltd is next at 19%. The same company also holds the highest Margin change, at -5 percentage points. 3 of 3 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: ITC Ltd leads both opm at 27% and margin change at -5 percentage points.

LeaderITC Ltd · 27%
Gap42.1% versus #2 · VST Industries Ltd
Persistence2/8 recent comparable periods
Coverage3/3 companies · 60 observations

Investor read: ITC Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1ITC Ltd ITC27%
Margin changefastest expanders
1ITC Ltd ITC−5.0 pp
2VST Industries Ltd VSTIND−7.0 pp
3Godfrey Phillips India Ltd GODFRYPHLP−8.0 pp
Operating margin · company comparison
3/3 level · 3/3 change
All-company data · latest reported quarter
CompanyOPMMargin changeReported
ITC Ltd ITC27%−5.0 ppJun 2026
VST Industries Ltd VSTIND19%−7.0 ppJun 2026
Godfrey Phillips India Ltd GODFRYPHLP15%−8.0 ppJun 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Godfrey Phillips India Ltd · GODFRYPHLP

23%
25%
23%
24%
24%
23%
19%
24%
19%
18%
22%
25%
20%
23%
17%
23%
24%
21%
31%
15%

ITC Ltd · ITC

36%
33%
34%
33%
37%
38%
38%
39%
36%
36%
37%
37%
33%
34%
35%
32%
34%
34%
39%
27%

VST Industries Ltd · VSTIND

38%
33%
35%
38%
27%
27%
27%
32%
23%
20%
26%
23%
19%
19%
20%
26%
23%
23%
46%
19%

Margin change · reported quarter history

Godfrey Phillips India Ltd · GODFRYPHLP

+0.8 pp
+1.1 pp
+0.4 pp
+0.3 pp
+0.8 pp
−1.8 pp
−3.6 pp
−0.3 pp
−4.6 pp
−5.0 pp
+3.0 pp
+1.0 pp
+1.0 pp
+5.0 pp
−5.0 pp
−2.0 pp
+4.0 pp
−2.0 pp
+14.0 pp
−8.0 pp

ITC Ltd · ITC

+0.0 pp
−3.9 pp
−0.1 pp
−0.7 pp
+0.1 pp
+5.3 pp
+4.2 pp
+6.1 pp
−0.6 pp
−2.0 pp
−1.0 pp
−2.0 pp
−3.0 pp
−2.0 pp
−2.0 pp
−5.0 pp
+1.0 pp
0.0 pp
+4.0 pp
−5.0 pp

VST Industries Ltd · VSTIND

+0.8 pp
−1.6 pp
−0.2 pp
+4.1 pp
−11.4 pp
−6.2 pp
−8.1 pp
−5.5 pp
−4.0 pp
−7.0 pp
−1.0 pp
−9.0 pp
−4.0 pp
−1.0 pp
−6.0 pp
+3.0 pp
+4.0 pp
+4.0 pp
+26.0 pp
−7.0 pp
08 · compare level, then change

Profit Scale & Acceleration

ITC Ltd has the highest Net profit among the 3 Cigarettes & Tobacco Products companies compared here, at ₹20,184 crore. Godfrey Phillips India Ltd is next at ₹1,367 crore. Godfrey Phillips India Ltd has the highest Profit growth at 13.9%, so level and change sit with different companies. Its Net profit series carries 20 reported observations across the 20-quarter window.

What the numbers say: ITC Ltd leads with ₹20,184 crore of TTM profit, 14.8× the profit of Godfrey Phillips India Ltd. Godfrey Phillips India Ltd shows 13.9% growth from a ₹1,367 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderITC Ltd · ₹20,184 crore
Gap14.8× versus #2 · Godfrey Phillips India Ltd
Persistence5/8 recent comparable periods
Coverage3/3 companies · 60 observations

Investor read: ITC Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1ITC Ltd ITC₹20.2K Cr
2Godfrey Phillips India Ltd GODFRYPHLP₹1.4K Cr
3VST Industries Ltd VSTIND₹278 Cr
Profit growthfastest growers
2VST Industries Ltd VSTIND-5.1%
3ITC Ltd ITC-43%
Net profit · company comparison
3/3 level · 3/3 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
ITC Ltd ITC₹4.5K Cr-16%Jun 2026
Godfrey Phillips India Ltd GODFRYPHLP₹198 Cr-44%Jun 2026
VST Industries Ltd VSTIND₹42 Cr-25%Jun 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Godfrey Phillips India Ltd · GODFRYPHLP

₹105 Cr
₹117 Cr
₹104 Cr
₹142 Cr
₹202 Cr
₹199 Cr
₹147 Cr
₹254 Cr
₹202 Cr
₹212 Cr
₹215 Cr
₹229 Cr
₹248 Cr
₹316 Cr
₹280 Cr
₹356 Cr
₹305 Cr
₹343 Cr
₹521 Cr
₹198 Cr

ITC Ltd · ITC

₹3.8K Cr
₹4.1K Cr
₹4.3K Cr
₹4.5K Cr
₹4.7K Cr
₹5.1K Cr
₹5.2K Cr
₹5.2K Cr
₹5.0K Cr
₹5.4K Cr
₹5.2K Cr
₹5.2K Cr
₹5.1K Cr
₹5.0K Cr
₹19.8K Cr
₹5.3K Cr
₹5.2K Cr
₹5.0K Cr
₹5.5K Cr
₹4.5K Cr

VST Industries Ltd · VSTIND

₹80 Cr
₹83 Cr
₹87 Cr
₹87 Cr
₹92 Cr
₹79 Cr
₹69 Cr
₹84 Cr
₹76 Cr
₹54 Cr
₹88 Cr
₹54 Cr
₹48 Cr
₹136 Cr
₹53 Cr
₹56 Cr
₹59 Cr
₹60 Cr
₹117 Cr
₹42 Cr

Profit growth · reported quarter history

Godfrey Phillips India Ltd · GODFRYPHLP

27%
92%
70%
41%
79%
0.0%
6.5%
46%
-9.8%
23%
49%
30%
55%
23%
8.5%
86%
-44%

ITC Ltd · ITC

34%
24%
23%
23%
16%
6.0%
6.4%
-1.0%
-0.3%
1.8%
-7.3%
282%
3.2%
2.6%
0.1%
-72%
-16%

VST Industries Ltd · VSTIND

24%
15%
-4.8%
-21%
-3.5%
-17%
-32%
28%
-36%
-37%
152%
-40%
3.7%
23%
-56%
121%
-25%
09 · compare level, then change

Return On Capital Employed

ITC Ltd has the highest ROCE among the 3 Cigarettes & Tobacco Products companies compared here, at 38.9%. Godfrey Phillips India Ltd is next at 32.8%. VST Industries Ltd has the highest ROCE change at +6.3 percentage points, so level and change sit with different companies. 3 of 3 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: ITC Ltd leads ROCE at 38.9%, 6.1 percentage points above Godfrey Phillips India Ltd. VST Industries Ltd has the strongest latest improvement at +6.3 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderITC Ltd · 38.9%
Gap18.6% versus #2 · Godfrey Phillips India Ltd
Persistence4/8 recent comparable periods
Coverage3/3 companies · 46 observations

Investor read: ITC Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1ITC Ltd ITC39%
ROCE changefastest improvers
1VST Industries Ltd VSTIND+6.3 pp
2Godfrey Phillips India Ltd GODFRYPHLP+3.9 pp
3ITC Ltd ITC−20.0 pp
Return on capital · company comparison
3/3 level · 3/3 change
All-company data · latest reported quarter
CompanyROCEROCE changeReported
ITC Ltd ITC36%−20.0 ppJun 2026
VST Industries Ltd VSTIND24%+6.3 ppJun 2026
Godfrey Phillips India Ltd GODFRYPHLP23%+3.9 ppJun 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Godfrey Phillips India Ltd · GODFRYPHLP

16%
15%
18%
17%
17%
24%
25%
25%
13%
29%
19%
31%
19%
29%
23%

ITC Ltd · ITC

28%
29%
32%
33%
34%
38%
36%
36%
23%
36%
33%
56%
33%
55%
33%
36%

VST Industries Ltd · VSTIND

39%
35%
37%
29%
29%
34%
25%
29%
23%
37%
17%
29%
19%
25%
24%

ROCE change · reported quarter history

Godfrey Phillips India Ltd · GODFRYPHLP

+2.2 pp
+2.0 pp
−1.1 pp
+7.5 pp
−3.9 pp
+4.3 pp
−5.9 pp
+6.0 pp
+5.6 pp
+0.7 pp
+3.9 pp

ITC Ltd · ITC

+4.0 pp
+4.1 pp
+2.6 pp
+2.9 pp
−10.7 pp
−2.4 pp
−2.9 pp
+19.6 pp
+9.2 pp
+18.9 pp
+0.1 pp
−20.0 pp

VST Industries Ltd · VSTIND

−2.1 pp
−5.5 pp
−8.0 pp
−4.6 pp
−5.9 pp
+2.8 pp
−7.3 pp
−0.3 pp
−4.1 pp
−11.9 pp
+6.3 pp
10 · compare level, then change

Valuation Against Growth & Quality

VST Industries Ltd has the lowest PEG among the 3 Cigarettes & Tobacco Products companies compared here, at 1.09×. Godfrey Phillips India Ltd is next at 1.15×. The same company also holds the lowest P/E, at 13.5×. 3 of 3 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: VST Industries Ltd has the lowest comparable PEG at 1.09×, 5.2% below Godfrey Phillips India Ltd. Only 3 of 3 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderVST Industries Ltd · 1.09×
Gap5.2% versus #2 · Godfrey Phillips India Ltd
Persistence0/8 recent comparable periods
Coverage3/3 companies · 28 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.
PEGlowest PEG
3ITC Ltd ITC3.5
P/Elowest P/E
1VST Industries Ltd VSTIND13.5
2ITC Ltd ITC17.8
Valuation · company comparison
3/3 level · 3/3 change
All-company data · latest reported quarter
CompanyPEGP/EReported
ITC Ltd ITC3.517.4Jun 2026
Godfrey Phillips India Ltd GODFRYPHLP1.223.0Jun 2026
VST Industries Ltd VSTIND1.115.2Jun 2026
Full 20-quarter history · every available company

PEG · reported quarter history

Godfrey Phillips India Ltd · GODFRYPHLP

0.3
0.4
0.5
0.2
0.6
0.4
0.2
2.1
0.8
2.6
0.6
1.0
1.4
1.3
1.2
1.2

ITC Ltd · ITC

1.2
1.7
1.3
1.4
1.1
1.1
1.1
1.3
1.7
3.5

VST Industries Ltd · VSTIND

0.8
1.1

P/E · reported quarter history

Godfrey Phillips India Ltd · GODFRYPHLP

12.5
13.4
12.9
12.4
12.8
18.2
14.6
12.7
14.1
13.7
19.7
24.0
39.4
28.0
32.5
40.8
41.8
34.6
22.8
23.0

ITC Ltd · ITC

19.8
17.6
19.8
20.2
23.5
22.2
24.4
27.4
26.1
26.8
24.6
24.7
30.6
28.0
26.1
26.4
25.3
25.1
17.9
17.4

VST Industries Ltd · VSTIND

17.2
16.5
15.4
14.4
14.8
14.6
14.1
16.3
16.5
17.1
19.6
20.5
23.8
23.3
18.4
24.2
21.1
19.6
15.4
15.2
11 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Cigarettes & Tobacco Products comparison names 4 specific ways its own evidence can mislead, all listed below. All 3 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
12 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 3 Cigarettes & Tobacco Products companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-31. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-31 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing3 cross-checked · 0 unverified · 0 withheld, of 3 graded companies.
How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

13 · questions investors ask, short speakable answers

Cigarettes & Tobacco Products company comparison FAQs

These 23 answers restate the Cigarettes & Tobacco Products comparison above in question form. Every one is computed from the same 3 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the Cigarettes & Tobacco Products sector outperforming NIFTY 500?

Cigarettes & Tobacco Products has underperformed NIFTY 500 by 24.1% over 52 weeks and 11.2% over 13 weeks. 0 of 3 covered companies beat NIFTY on Mansfield relative strength, while 0 of 3 beat the sector itself.

Which Cigarettes & Tobacco Products company is largest by revenue?

ITC Ltd leads with revenue of ₹76,488 crore, based on 3 of 3 comparable companies through Jun 2026.

Which Cigarettes & Tobacco Products company is growing fastest?

VST Industries Ltd has the fastest current revenue growth at 3.5%, across 3 of 3 comparable companies.

Which Cigarettes & Tobacco Products company has the strongest 4-Factor Sector Score?

Godfrey Phillips India Ltd ranks first at 54.6/100 with 97% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Cigarettes & Tobacco Products company has the lowest comparable PEG?

VST Industries Ltd has the lowest comparable PEG at 1.09, among 3 of 3 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Cigarettes & Tobacco Products comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

What is the Nifty Cigarettes & Tobacco Products index?

The Nifty Cigarettes & Tobacco Products index tracks India's listed Cigarettes & Tobacco Products companies as a single basket. This page follows the same 3 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Cigarettes & Tobacco Products sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Cigarettes & Tobacco Products stocks in India?

Ranked by this page's four-factor score, Godfrey Phillips India Ltd places first among 3 listed Cigarettes & Tobacco Products companies, followed by VST Industries Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Cigarettes & Tobacco Products stocks are listed in India?

This comparison covers 3 listed Cigarettes & Tobacco Products companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Cigarettes & Tobacco Products company is the biggest?

ITC Ltd is the largest, with trailing-twelve-month revenue of ₹76,488 crore, ahead of Godfrey Phillips India Ltd at ₹6,111 crore. That covers 3 of 3 companies with comparable reporting through Jun 2026.

Which Cigarettes & Tobacco Products company has the best profit margins?

ITC Ltd has the highest operating margin at 27%, from 3 of 3 comparable companies. ITC Ltd shows the biggest recent improvement, at -5 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Cigarettes & Tobacco Products company makes the most profit?

ITC Ltd earns the most, at ₹20,184 crore of trailing-twelve-month net profit, from 3 of 3 comparable companies. Godfrey Phillips India Ltd has the fastest profit growth at 13.9%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Cigarettes & Tobacco Products company earns the highest return on capital?

ITC Ltd leads on return on capital employed at 38.9%, across 3 of 3 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Cigarettes & Tobacco Products stock is the cheapest?

On PEG — where a LOWER number is cheaper — VST Industries Ltd screens cheapest at 1.09×. Only 3 of 3 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Cigarettes & Tobacco Products sector beating the market?

Cigarettes & Tobacco Products has underperformed NIFTY 500 by 24.1% over the last 52 weeks and 11.2% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 0 of 3 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Cigarettes & Tobacco Products stock has the strongest price momentum?

VST Industries Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Cigarettes & Tobacco Products company scores highest for research priority?

Godfrey Phillips India Ltd scores 54.6 out of 100 with 97% evidence confidence, from 16.7 points on growth and earnings, 18.7 on capital efficiency, 13.2 on valuation and 6 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Cigarettes & Tobacco Products companies does this comparison cover, and over what period?

It compares 3 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Cigarettes & Tobacco Products sector?

The 3 Cigarettes & Tobacco Products companies on this page carry ₹3,89,117 crore of combined market value. ITC Ltd is the largest at ₹3,52,078 crore, about 90% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

How is the Cigarettes & Tobacco Products sector performing?

0 of the 3 covered Cigarettes & Tobacco Products companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 24.1% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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