V.I.P.INDUSTRIES LTD. (VIPIND) AI Stock Analysis

• Market Cap: ₹60.67B
• Dividend Yield: 0.48%
• Average Volume (3M): 361.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.23
• Revenue Growth: -6.53%
• EPS Growth: -14507.38%
• Country: IN
• Employees: 7,515
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): -1.10
• Shares Outstanding: 142,044,850
• 10 Day Avg. Volume: 80,860
• 30 Day Avg. Volume: 361,228
• PEG Ratio: 0.26
• Price to Book (P/B): 6.48
• Price to Sales (P/S): 1.85
• P/FCF Ratio: 16.04
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹433.00
• Price Target Upside: 1.37% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 52 Neutral
• Price Target: ₹433.00 ▲(1.37% Upside)

The overall stock score is primarily influenced by financial performance challenges, including inconsistent revenue growth and profitability issues. Technical analysis suggests a neutral to slightly bearish outlook, while valuation concerns arise from a negative P/E ratio and lack of dividend yield. The absence of earnings call data and corporate events limits additional insights.

V.I.P.INDUSTRIES LTD. Business Overview & Revenue Model

Company Description

V.I.P. Industries Limited manufactures and sells luggage, bags, and accessories in India. It offers hard and soft luggage, including handbags, printed polycarbonate luggage products, soft uprights, vanity cases, hard suitcases, briefcases, trolleys, rucksacks, backpacks, duffel-bags, laptop bags, and school bags. The company provides its products primarily under the VIP, Caprese, Carlton, Skybags, Alfa, Footloose, and Aristocrat brands. It also exports its products to approximately 45 countries. V.I.P. Industries Limited was incorporated in 1968 and is based in Mumbai, India.

How the Company Makes Money

V.I.P. INDUSTRIES LTD. generates revenue through multiple streams, primarily by manufacturing and selling a diverse array of luggage products and travel accessories. The company operates through both B2B and B2C channels, selling directly to consumers via retail outlets and e-commerce platforms, as well as to wholesalers and distributors. Key revenue streams include retail sales from branded stores and online platforms, as well as partnerships with various international retailers and travel companies. Additionally, VIPIND benefits from seasonal sales trends, particularly during holiday travel periods, and has established a strong brand presence that helps drive customer loyalty and repeat purchases.

V.I.P.INDUSTRIES LTD. Financial Statement Overview

Summary

V.I.P. INDUSTRIES LTD. faces challenges with inconsistent revenue growth and profitability. While the gross profit margin remains strong, the net profit margin's volatility highlights cost management issues. The balance sheet shows a moderate reliance on debt, with room for improving equity funding. Cash flow improvements in 2025 are encouraging, but stability is needed for long-term financial health.

Income Statement

The income statement shows volatility in revenue and profitability. Despite a recent decline in revenue, the company had a strong gross profit margin of 45.61% in 2025, indicating good control over cost of goods sold. However, net profit margin turned negative at -3.16% in 2025, reflecting challenges in managing expenses and financial costs. The revenue growth has been inconsistent, with periods of growth and decline over the years.

Balance Sheet

The balance sheet exhibits moderate financial leverage with a debt-to-equity ratio of 1.22 in 2025, suggesting a reliance on debt financing. The equity ratio is 33.20%, indicating a reasonable proportion of assets funded by equity. However, declining stockholders' equity and fluctuating total assets suggest some financial instability.

Cash Flow

Cash flow analysis reveals fluctuating free cash flow, with a significant improvement in 2025 to positive free cash flow after previous negative figures. Operating cash flow to net income ratio is negative due to a net loss, but the positive operating cash flow indicates some operational strength. The company needs to stabilize its free cash flow generation to ensure financial health.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	21.01B	21.65B	22.38B	20.82B	12.87B	6.17B
Gross Profit	8.76B	9.94B	11.26B	10.64B	6.10B	2.40B
EBITDA	808.70M	822.90M	2.22B	3.01B	1.82B	-171.20M
Net Income	-859.30M	-687.90M	543.00M	1.52B	669.30M	-974.90M
Balance Sheet
Total Assets	0.00	18.56B	20.67B	14.15B	12.30B	10.95B
Cash, Cash Equivalents and Short-Term Investments	481.10M	481.10M	445.50M	556.10M	579.80M	2.27B
Total Debt	0.00	7.51B	8.71B	3.52B	2.98B	3.53B
Total Liabilities	-6.16B	12.40B	13.89B	7.74B	6.71B	5.78B
Stockholders Equity	6.16B	6.16B	6.78B	6.42B	5.60B	5.17B
Cash Flow
Free Cash Flow	0.00	2.49B	-2.32B	679.50M	-601.40M	79.20M
Operating Cash Flow	0.00	2.92B	-1.32B	1.75B	-236.80M	170.40M
Investing Cash Flow	0.00	-465.70M	-759.90M	-844.70M	1.46B	-755.70M
Financing Cash Flow	0.00	-2.51B	2.18B	-745.70M	-1.26B	735.30M

V.I.P.INDUSTRIES LTD. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 427.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VIPIND, the sentiment is Positive. The current price of 427.15 is above the 20-day moving average (MA) of 426.53, below the 50-day MA of 428.60, and above the 200-day MA of 385.53, indicating a bullish trend. The MACD of -1.12 indicates Negative momentum. The RSI at 52.82 is Neutral, neither overbought nor oversold. The STOCH value of 35.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:VIPIND.

V.I.P.INDUSTRIES LTD. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARVIND	69 Neutral	₹80.55B	21.90	―	1.22%	10.23%	18.42%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
VMART	61 Neutral	₹68.06B	101.18	―	―	15.89%	―
SAFARI	60 Neutral	₹105.84B	70.93	―	0.14%	17.51%	-13.86%
ABFRL	53 Neutral	₹100.13B	―	―	―	-19.17%	37.41%
VIPIND	52 Neutral	₹60.67B	―	―	0.48%	-6.53%	-14507.38%
ALOKINDS	44 Neutral	₹85.75B	―	―	―	-20.02%	25.52%

V.I.P.INDUSTRIES LTD. Corporate Events

V.I.P. Industries Secures Temporary Relief in Carlton Trademark Dispute

V.I.P. Industries Ltd. announced a significant legal update regarding its ability to operate under the ‘Carlton’ trademark. The Supreme Court of India has allowed the company to manage its existing inventory of Carlton-branded products, subject to specific conditions, while directing the Delhi High Court to expedite related civil suits with Carlton Shoes Ltd. This decision provides temporary relief to the company, potentially impacting its market operations and stakeholder relations.

VIP Industries Announces Major Share Sale and Management Change

VIP Industries Limited has announced a significant transaction involving the sale of approximately 32% of its total paid-up share capital by entities within its promoter group to new purchasers. This transaction, facilitated by a share purchase agreement and a shareholders’ agreement, will result in a change of management and control of the company, with the new purchasers required to make an open offer for an additional 26% of the expanded voting share capital. Arpwood Capital Private Limited served as the exclusive financial advisor for this transaction.

V.I.P. Industries Faces Open Offer from Multiples Private Equity

V.I.P. Industries Limited has received a public announcement regarding an open offer to its public shareholders. The offer, made by Multiples Private Equity Fund IV and its associates, aims to acquire up to 26% of the company’s expanded share capital at a price of INR 388 per share, totaling a potential consideration of INR 1,437.78 crore. This move is in compliance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and could significantly impact the company’s shareholder structure.

VIP Industries Announces Strategic Stake Sale to Multiples Consortium

VIP Industries Ltd. announced that Dilip Piramal and Family have agreed to sell up to 32% of their stake in the company to the Multiples Consortium, which will take control of the company. This strategic partnership aims to revitalize VIP Industries’ presence in the Indian luggage market, where it has faced challenges in recent years. The transaction, subject to regulatory approval, marks a significant shift in ownership and is expected to unlock a new phase of growth for the company.

V.I.P. Industries Faces Legal Setback Over ‘CARLTON’ Trademark

V.I.P. Industries Ltd. announced that the Division Bench of the Hon’ble Delhi High Court has dismissed its appeal against an interim order that restricted the company from using the ‘CARLTON’ trademark for its travel luggage business. The company is currently seeking legal advice and planning further steps in response to this decision. The ‘CARLTON’ brand contributes to less than 5% of the company’s total revenue, indicating a limited financial impact from this legal outcome.