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

• Market Cap: ₹58.95B
• Dividend Yield: 0.48%
• Average Volume (3M): 63.18K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.12
• Revenue Growth: -6.53%
• EPS Growth: -14491.90%
• Country: IN
• Employees: 7,515
• Sector: Consumer Cyclical
• Sector Strength: 71
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): -1.10
• Shares Outstanding: 142,019,700
• 10 Day Avg. Volume: 42,677
• 30 Day Avg. Volume: 63,180
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ₹413.00
• Price Target Upside: 0.02% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 49 Neutral
• Price Target: ₹413.00 ▲(0.02% Upside)

The overall stock score is primarily influenced by financial performance challenges, including inconsistent revenue growth and profitability issues. Technical analysis indicates a bearish trend, with the stock trading below key moving averages and approaching oversold conditions. Valuation is also a concern, with a negative P/E ratio and low dividend yield. These factors collectively suggest caution for potential investors.

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

Company Description

V.I.P. Industries Ltd. (VIPIND) is a leading luggage manufacturer and retailer headquartered in India. The company operates in the travel and tourism sector, offering a wide range of products such as suitcases, backpacks, duffel bags, and travel accessories. VIPIND is known for its innovative designs and durable products, catering to both domestic and international markets through various brands under its portfolio.

How the Company Makes Money

V.I.P. Industries Ltd. generates revenue primarily through the sale of its luggage and travel accessories. The company's key revenue streams include direct sales through its extensive retail network, online sales via its e-commerce platform, and partnerships with third-party retailers. VIPIND also benefits from its strong brand presence and market position, allowing it to capitalize on consumer demand for high-quality travel products. Additionally, the company leverages strategic partnerships and collaborations to expand its market reach and enhance its product offerings, contributing further to its earnings.

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 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	Mar 2025	Mar 2024	Mar 2023	Mar 2021	Mar 2022
Income Statement
Total Revenue	21.78B	22.38B	20.82B	6.17B	12.87B
Gross Profit	9.94B	8.05B	10.64B	2.40B	6.10B
EBITDA	822.90M	2.22B	3.01B	-171.20M	1.82B
Net Income	-687.90M	543.00M	1.52B	-974.90M	669.30M
Balance Sheet
Total Assets	18.56B	20.67B	14.15B	10.95B	12.30B
Cash, Cash Equivalents and Short-Term Investments	481.10M	445.50M	690.30M	2.27B	579.80M
Total Debt	7.51B	8.71B	3.52B	3.53B	2.98B
Total Liabilities	12.40B	13.89B	7.74B	5.78B	6.71B
Stockholders Equity	6.16B	6.78B	6.42B	5.17B	5.60B
Cash Flow
Free Cash Flow	2.49B	-2.32B	679.50M	79.20M	-601.40M
Operating Cash Flow	2.92B	-1.32B	1.75B	170.40M	-236.80M
Investing Cash Flow	-465.70M	-759.90M	-844.70M	-755.70M	1.46B
Financing Cash Flow	-2.51B	2.18B	-745.70M	720.60M	-1.26B

V.I.P.INDUSTRIES LTD. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 412.90
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VIPIND, the sentiment is Negative. The current price of 412.9 is below the 20-day moving average (MA) of 451.25, below the 50-day MA of 429.16, and above the 200-day MA of 398.01, indicating a neutral trend. The MACD of -1.86 indicates Positive momentum. The RSI at 38.69 is Neutral, neither overbought nor oversold. The STOCH value of 14.41 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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	64 Neutral	₹77.49B	21.08		1.28%	10.23%	18.42%
SAFARI	61 Neutral	₹99.19B	66.62		0.15%	17.51%	-13.86%
Sector *	61 Neutral	$17.22B	11.58	-7.48%	3.16%	1.46%	-15.87%
VMART	59 Neutral	₹59.94B	89.13		―	15.89%	―
VIPIND	49 Neutral	₹58.95B	―		0.48%	-6.53%	-14491.90%
ABFRL	46 Neutral	₹90.74B	―		―	-6.43%	38.61%
ALOKINDS	41 Neutral	₹89.62B	―		―	-28.55%	5.61%

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.