VIP Inds.

₹438.1 16.6 | 3.9%

WEBSITE BSE:507880 NSE : VIP INDUS. 09 Jul, 15:57

Market Cap ₹6221 Cr.

Stock P/E 114.6

P/B 10.1

Current Price ₹438.1

Book Value ₹ 43.4

Face Value 2

52W High ₹590

Dividend Yield 0%

52W Low ₹ 248.6

Edit Ratio

VIP Inds. Research see more...

Overview Inc. Year: 1968Industry: Household & Personal Products

V.I.P. Industries Ltd. (VIP) is a holding company. The Company is engaged within the manufacturing of hard luggages and soft luggages. The Company operates thru two segments: Luggage, Bags & Accessories, and Furniture. The Company has manufacturing centres at numerous locations across India. The Company has various manufacturers across bags categories. The Company's manufacturers include Carlton, VIP Bags, Skybags, Aristocrat, Alfa and Caprese. The Company's product range consists of trolleys, rucksacks, backpacks, duffel bags, laptop bags, travel add-ons, short haul essentials, soft uprights, vanity cases, hard suitcases, briefcases and uprights, among others. It has about 8000 stores throughout India and with a community of over 1300 outlets across approximately 30 nations. The Company's subsidiaries are VIP Industries Bangladesh Pvt Ltd and Blow Plast Retail Ltd. VIP Industries Bangladesh Pvt Ltd manufactures and markets bags and luggage.

VIP Inds. Share Price

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Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

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Peer Comparison

VIP Inds. Quarterly Results

#(Fig in Cr.)	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Net Sales	526	451	636	546	546	516	639	544	501	494
Other Income	3	5	3	3	3	4	2	3	2	4
Total Income	529	455	639	549	549	520	641	547	504	498
Total Expenditure	453	386	556	493	494	508	590	546	472	488
Operating Profit	76	69	83	55	55	12	51	0	31	10
Interest	7	8	11	12	15	17	18	20	18	17
Depreciation	18	20	21	24	27	28	29	30	30	30
Exceptional Income / Expenses	0	-47	26	0	0	0	0	4	0	4
Profit Before Tax	51	-6	77	19	13	-33	4	-46	-17	-33
Provision for Tax	7	-2	20	6	6	-9	-0	-13	-4	-5
Profit After Tax	44	-4	58	13	7	-24	4	-33	-12	-27
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	44	-4	58	13	7	-24	4	-33	-12	-27
Adjusted Earnings Per Share	3.1	-0.3	4.1	0.9	0.5	-1.7	0.3	-2.3	-0.9	-1.9

VIP Inds. Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	973	1048	1216	1252	1410	1785	1714	619	1290	2082	2245	2178
Other Income	3	3	3	10	10	9	13	49	36	17	12	11
Total Income	976	1051	1219	1261	1419	1794	1727	667	1326	2099	2257	2190
Total Expenditure	891	969	1107	1119	1215	1558	1418	683	1143	1766	2048	2096
Operating Profit	85	82	113	142	205	235	309	-16	182	334	209	92
Interest	4	3	3	3	2	4	25	31	26	31	59	73
Depreciation	17	18	14	14	13	17	87	78	70	74	99	119
Exceptional Income / Expenses	16	4	0	0	0	0	-49	0	0	-32	26	8
Profit Before Tax	80	65	95	126	190	215	148	-125	86	197	77	-92
Provision for Tax	22	19	29	40	63	70	37	-27	19	44	22	-22
Profit After Tax	58	47	66	85	127	145	112	-97	67	152	54	-68
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	58	47	66	85	127	145	112	-97	67	152	54	-68
Adjusted Earnings Per Share	4.1	3.3	4.7	6	9	10.3	7.9	-6.9	4.7	10.8	3.8	-4.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	8%	54%	5%	9%
Operating Profit CAGR	-37%	0%	-2%	9%
PAT CAGR	-64%	0%	-18%	-1%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-7%	-12%	11%	16%
ROE Average	8%	16%	10%	17%
ROCE Average	13%	20%	15%	24%

VIP Inds. Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	287	306	339	408	489	581	610	517	560	642	678
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	2	1	3	4	6	10	189	429	424	452	623
Total Current Liabilities	158	189	239	192	272	475	438	402	518	633	1100
Total Liabilities	448	496	581	603	767	1066	1237	1348	1502	1726	2400
Fixed Assets	85	71	67	60	76	115	368	286	263	307	529
Other Non-Current Assets	30	30	25	24	32	44	40	324	338	401	429
Total Current Assets	333	395	489	520	659	907	828	738	902	1019	1442
Total Assets	448	496	581	603	767	1066	1237	1348	1502	1726	2400

VIP Inds. Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	9	8	5	6	8	20	11	7	20	17	33
Cash Flow from Operating Activities	50	14	53	127	85	-56	292	85	-24	175	-132
Cash Flow from Investing Activities	-2	-3	-8	-73	-29	16	-85	-145	146	-84	-76
Cash Flow from Financing Activities	-49	-14	-45	-51	-44	31	-211	74	-126	-75	218
Net Cash Inflow / Outflow	-1	-3	0	2	13	-9	-4	14	-3	16	10
Closing Cash & Cash Equivalent	8	5	6	8	20	11	7	20	17	33	43

VIP Inds. Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	4.08	3.3	4.7	6.03	8.97	10.28	7.91	-6.9	4.73	10.75	3.83
CEPS(Rs)	5.29	4.54	5.71	6.99	9.88	11.46	14.05	-1.38	9.68	15.95	10.83
DPS(Rs)	1.7	1.5	2	2.4	3	3.2	3.2	0	2.5	4.5	2
Book NAV/Share(Rs)	20.31	21.64	24.01	28.87	34.61	41.05	42.97	36.26	38.85	44.41	46.88
Core EBITDA Margin(%)	8.33	7.42	8.9	10.13	13.44	12.48	15.67	-8.96	10.22	13.87	7.61
EBIT Margin(%)	8.48	6.45	7.97	9.82	13.22	12.07	9.19	-13.05	7.87	9.98	5.23
Pre Tax Margin(%)	8.07	6.16	7.71	9.62	13.05	11.86	7.86	-17.33	6.02	8.61	2.95
PAT Margin (%)	5.84	4.38	5.38	6.52	8.73	8.01	5.92	-13.56	4.68	6.67	2.09
Cash Profit Margin (%)	7.56	6.03	6.53	7.57	9.62	8.93	10.51	-2.72	9.57	9.9	5.93
ROA(%)	12.35	9.87	12.34	14.39	18.49	15.85	9.7	-7.54	4.7	9.44	2.63
ROE(%)	21.17	15.72	20.61	22.81	28.26	27.17	18.82	-17.42	12.61	25.85	8.39
ROCE(%)	27.87	21.43	28.49	33.68	42.79	37.83	26.51	-14.29	16.63	30.29	13.34
Receivable days	36.79	35.37	38.51	37.76	37.44	47.86	54.7	105.56	46.83	37.88	41.04
Inventory Days	59.29	69.07	76.05	79.64	75.31	84.95	94.26	190.3	104.65	88.38	105.81
Payable days	58.57	69.51	75.43	78.65	90.44	107.36	139.9	228.56	128.3	108.26	125.96
PER(x)	25.62	28.27	22.32	32.65	35.32	47.28	30.36	0	157.31	53.28	137.47
Price/Book(x)	5.14	4.31	4.37	6.82	9.15	11.84	5.59	9.77	19.16	12.9	11.22
Dividend Yield(%)	1.63	1.61	1.9	1.22	0.95	0.66	1.33	0	0.34	0.79	0.38
EV/Net Sales(x)	1.52	1.28	1.22	2.21	3.16	3.89	1.99	8.19	8.24	3.97	3.54
EV/Core EBITDA(x)	17.43	16.4	13.24	19.54	21.74	29.48	11.05	-319.15	58.26	24.75	37.98
Net Sales Growth(%)	16.14	7.7	16.11	2.88	12.63	26.61	-3.94	-63.92	108.47	61.48	7.81
EBIT Growth(%)	58.87	-18.11	43.46	30.38	49.69	14	-20.64	-154.03	219.92	102.57	-40.49
PAT Growth(%)	82.87	-19.17	42.65	28.21	48.75	14.61	-23.09	-187.26	168.65	127.61	-64.36
EPS Growth(%)	82.87	-19.17	42.65	28.21	48.75	14.61	-23.09	-187.25	168.58	127.29	-64.43
Debt/Equity(x)	0.06	0.1	0.04	0	0	0.15	0.05	0.3	0.22	0.29	0.8
Current Ratio(x)	2.11	2.09	2.05	2.71	2.42	1.91	1.89	1.84	1.74	1.61	1.31
Quick Ratio(x)	1	0.89	0.85	1.24	1.26	0.8	0.87	1.09	0.74	0.68	0.48
Interest Cover(x)	21.14	22.4	30.45	48.94	79.97	56.68	6.88	-3.05	4.27	7.26	2.3
Total Debt/Mcap(x)	0.01	0.02	0.01	0	0	0.01	0.01	0.03	0.01	0.02	0.07

VIP Inds. Shareholding Pattern

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	51.32	51.3	51.29	51.22	51.76	51.76	51.75	51.74	51.73	51.73
FII	9.33	9.03	8.95	7.74	7.49	8.07	7.32	7.81	7.44	7.68
DII	19.87	20.9	20.82	14.72	12.83	12.69	13.76	12.25	13.28	12.7
Public	19.48	18.77	18.94	26.32	27.91	27.49	27.18	28.2	27.55	27.89
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	7.27	7.27	7.27	7.27	7.35	7.35	7.35	7.35	7.35	7.35
FII	1.32	1.28	1.27	1.1	1.06	1.15	1.04	1.11	1.06	1.09
DII	2.81	2.96	2.95	2.09	1.82	1.8	1.95	1.74	1.89	1.8
Public	2.76	2.66	2.68	3.74	3.96	3.9	3.86	4	3.91	3.96
Others	0	0	0	0	0	0	0	0	0	0
Total	14.16	14.17	14.17	14.19	14.19	14.2	14.2	14.2	14.2	14.2

Pros

Cons

Debtor days have increased from 108.26 to 125.96days.
Stock is trading at 10.1 times its book value.
The company has delivered a poor profit growth of -17% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.