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V.I.P.INDUSTRIES LTD.
(VIPIND)
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Rating:47Neutral
Price Target:
₹327.00
▼(-23.45% Downside)
Action:Reiterated
Date:06/02/26
The score is primarily held down by deteriorating financial performance—large recent losses, weaker revenue/margins, and increased leverage—partly offset by improved recent free cash flow. Technicals are mixed (better short-term positioning but weaker longer-term trend), while valuation is constrained by negative earnings and no dividend data.
Positive Factors
Multi-channel distribution and brand reach
VIPIND's broad, multi-channel distribution and established brand portfolio provide durable access to consumers across offline and online channels. Structural channel diversification supports steadier sell-through, faster scaling of new SKUs, and resilience to single-channel disruptions over the medium term.
Negative Factors
Sharp profitability deterioration
The transition from profit to escalating losses over consecutive years signals a structural hit to margins and earnings power. Sustained negative profitability undermines reinvestment capacity, reduces ability to absorb cost shocks, and raises execution risk for any recovery plan absent meaningful demand or cost improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-channel distribution and brand reach
VIPIND's broad, multi-channel distribution and established brand portfolio provide durable access to consumers across offline and online channels. Structural channel diversification supports steadier sell-through, faster scaling of new SKUs, and resilience to single-channel disruptions over the medium term.
Read all positive factors
V.I.P.INDUSTRIES LTD. (VIPIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹43.07B
Dividend YieldN/A
Average Volume (3M)26.33K
Price to Earnings (P/E)―
Beta (1Y)1.10
Revenue Growth-14.70%
EPS Growth-391.15%
CountryIN
Employees7,515
SectorGeneral
Sector StrengthN/A
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)-23.79
Shares Outstanding142,051,850
10 Day Avg. Volume47,082
30 Day Avg. Volume26,331
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)14.83
Price to Sales (P/S)2.31
P/FCF Ratio47.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.95
Revenue Forecast (FY)₹20.50B
V.I.P.INDUSTRIES LTD. Business Overview & Revenue Model
Company Description
Headquartered in Mumbai, India, V.I.P. Industries Limited, established in 1968, specializes in the manufacturing and distribution of luggage, bags, and accessories across India. The company's diverse product range encompasses both hard-sided and s...
How the Company Makes Money
VIPIND primarily makes money by selling travel and luggage products to customers through a multi-channel retail and distribution network. Key revenue streams include: (1) Sales of luggage and travel products across price tiers and categories (e.g....
V.I.P.INDUSTRIES LTD. Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
34
Negative
Cash Flow
52
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 18.58B | 21.65B | 22.38B | 20.82B | 12.87B |
| Gross Profit | 3.28B | 9.94B | 11.26B | 10.64B | 6.10B |
| EBITDA | -1.40B | 822.90M | 2.22B | 3.01B | 1.82B |
| Net Income | -3.38B | -687.90M | 543.00M | 1.52B | 669.30M |
Balance Sheet | |||||
| Total Assets | 16.04B | 18.56B | 20.67B | 14.15B | 12.30B |
| Cash, Cash Equivalents and Short-Term Investments | 1.16B | 481.10M | 445.50M | 556.10M | 579.80M |
| Total Debt | 7.38B | 7.51B | 8.71B | 3.52B | 2.98B |
| Total Liabilities | 13.15B | 12.40B | 13.89B | 7.74B | 6.71B |
| Stockholders Equity | 2.90B | 6.16B | 6.78B | 6.42B | 5.60B |
Cash Flow | |||||
| Free Cash Flow | 911.60M | 2.49B | -2.32B | 679.50M | -601.40M |
| Operating Cash Flow | 1.39B | 2.92B | -1.32B | 1.75B | -236.80M |
| Investing Cash Flow | -494.60M | -465.70M | -759.90M | -844.70M | 1.46B |
| Financing Cash Flow | -959.20M | -2.51B | 2.18B | -745.70M | -1.26B |
V.I.P.INDUSTRIES LTD. Technical Analysis
Negative
427.15
Price Trends
308.20
Negative
322.63
Negative
356.41
Negative
Market Momentum
-2.96
Positive
42.91
Neutral
24.33
Neutral
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 427.15 is above the 20-day moving average (MA) of 310.42, above the 50-day MA of 308.20, and above the 200-day MA of 356.41, indicating a bearish trend. The MACD of -2.96 indicates Positive momentum. The RSI at 42.91 is Neutral, neither overbought nor oversold. The STOCH value of 24.33 is Neutral, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹74.91B | 31.37 | ― | 0.60% | 19.30% | 41.16% | |
63 Neutral | ₹290.16B | 71.03 | ― | 1.48% | 14.21% | 17.13% | |
63 Neutral | ₹79.90B | 49.11 | ― | 0.22% | 15.55% | 17.22% | |
57 Neutral | ₹88.88B | 66.63 | ― | 0.95% | 0.77% | -59.42% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | ₹43.07B | -12.62 | ― | ― | -14.70% | -391.15% | |
47 Neutral | ₹9.70B | 70.27 | ― | ― | 31.94% | -19.61% |
* General Sector Average
IN:VIPIND
V.I.P.INDUSTRIES LTD.
293.85
-189.35
-39.19%
IN:BATAINDIA
Bata India Ltd
683.05
-566.45
-45.33%
IN:BIL
Bhartiya International Limited
726.15
-97.65
-11.85%
IN:METROBRAND
Metro Brands Ltd.
1,050.40
-123.72
-10.54%
IN:REDTAPE
Redtape Limited
133.65
-4.48
-3.24%
IN:SAFARI
Safari Industries (India) Limited
1,665.35
-535.95
-24.35%
V.I.P.INDUSTRIES LTD. Corporate Events
V.I.P. Industries ends CARLTON brand sales after Supreme Court directive
Jun 1, 2026
V.I.P. Industries has announced that it has ceased selling products under the CARLTON brand from June 1, 2026, in compliance with directions issued by the Supreme Court of India in an ongoing trademark dispute with Carlton Shoes Ltd. The company w...
V.I.P. Industries’ Company Secretary and Compliance Officer Resigns, Replacement Search Underway
May 4, 2026
V.I.P. Industries Ltd. has announced the resignation of Mr. Ashitosh Sheth from his roles as Company Secretary, Compliance Officer, Key Managerial Personnel, and Nodal Officer, effective from the close of business on May 4, 2026. The company state...
V.I.P. Industries Faces Rs 41 Lakh GST Penalty, Plans Appeal
Apr 1, 2026
V.I.P. Industries Ltd. has disclosed that the Assistant Commissioner of CGST and Central Excise, Nashik-I Division, has imposed a goods and services tax penalty of Rs 41.03 lakh under Section 122 of the CGST Act, 2017, over alleged wrongful passin...
V.I.P. Industries Says Maharashtra GST Inspection Concludes With No Material Adverse Findings
Mar 6, 2026
V.I.P. Industries Ltd. has disclosed that an inspection and search conducted by the Maharashtra Goods Service Tax Department under Section 67 of the state GST Act has been concluded, with proceedings formally closed on March 2, 2026. The company ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.