Shares of VST Industries, a company backed by investor Radhakishan Damani, surged 19% on April 17, 2026, after announcing impressive quarterly results. The company's profit for the fourth quarter (Q4) reached ₹116.7 crore, marking a 118.86% increase compared to ₹53 crore in the same period last year. Revenue from operations also saw significant growth, rising 52% to ₹689 crore, driven by a robust 87% increase in the cigarette segment, which accounted for ₹631 crore of the total revenue. Despite the challenges posed by a recent excise duty hike and a 40% Goods and Services Tax (GST) on tobacco products, VST Industries maintained healthy cigarette volumes, selling 667 million units in Q4. The company's Managing Director, Piyush Srivastava, highlighted the strong volume recovery and productivity initiatives that contributed to their success. The board has also proposed a final dividend of ₹12 per equity share, with the record date set for July 10, 2026. While the stock has shown a 27% increase over the past month, it has faced longer-term challenges, losing 6% over the past year.