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However, investors should still beware of PMI's valuation -- which indicates that the stock might be a smarter buy at lower prices.

Success in the cigarette business, and more than a decade of scientific research and technology development, gave PMI the resources to pursue this ambitious vision and to make its array of innovative, science-based smoke-free products the icons of the future

The company saw EBITDA (earnings before interest, taxes, depreciation, and amortisation) grow 37.4% YoY to 255 crore in FY25, while PAT (profit after tax) rose 62.9% to 230 crore