virginia vs burley tobacco Leaf Premium RYO Tobacco for Cigarettes:

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I seem to be running into this lately

At one time, cigarettes were smoked by the general public and also considered to be very glamorous

Lets look at Q3 FY26 specifically: Cigarette revenue: 1,101 crore (+10.5% YoY) Cigarette volumes: +10.6% YoY EBITDA: 241 crore (+15.4% YoY) EBITDA margin: 23% (up 400 bps from 18.6% last year) Net profit: 60.23 crore (down 55.8% YoY due to one-time charges, but ignore this the operating story is what matters) The operating leverage is kicking in

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The FDA intends to finalize a guidance document that would commence enforcement to require that all flavors, other than tobacco flavor, be removed from the market