V.I.P.INDUSTRIES LTD. (IN:VIPIND)
:VIPIND
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V.I.P.INDUSTRIES LTD.
(VIPIND)
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Rating:54Neutral
Price Target:
₹325.00
▼(-23.91% Downside)
Action:ReiteratedDate:12/25/25
The score is mainly held back by inconsistent profitability (net loss and volatile results) and a weak valuation signal from negative earnings. Technicals are moderately supportive with price above key moving averages, but momentum indicators (negative MACD and high RSI) reduce confidence. Improved 2025 free cash flow provides a partial offset.
Positive Factors
High gross margin
A 45.61% gross margin indicates durable cost control or pricing power in core luggage products. Sustained high gross margins provide room to absorb SG&A or promotional spends, support product investment and brand building, and cushion operating volatility over the medium term.
Negative Factors
Negative net margin
A negative net margin indicates operating or financing pressures that erode profitability after COGS. Persistent net losses reduce retained earnings and limit reinvestment capacity; without durable margin recovery, the company may struggle to fund growth or deleverage over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin
A 45.61% gross margin indicates durable cost control or pricing power in core luggage products. Sustained high gross margins provide room to absorb SG&A or promotional spends, support product investment and brand building, and cushion operating volatility over the medium term.
Read all positive factors
V.I.P.INDUSTRIES LTD. (VIPIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹45.21B
Dividend YieldN/A
Average Volume (3M)26.33K
Price to Earnings (P/E)―
Beta (1Y)1.22
Revenue Growth-12.59%
EPS Growth-328.41%
CountryIN
Employees7,515
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)-8.72
Shares Outstanding142,051,440
10 Day Avg. Volume47,082
30 Day Avg. Volume26,331
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)6.48
Price to Sales (P/S)1.85
P/FCF Ratio16.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹390.00Price Target Upside-8.70% Downside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)-18.31
Revenue Forecast (FY)₹19.55B
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, trolley...
How the Company Makes Money
VIPIND makes money primarily by selling branded travel and lifestyle products (luggage, backpacks, duffels, and travel accessories) to customers through a mix of channels: (1) wholesale/distribution sales to retailers and distributors, where VIPIN...
V.I.P.INDUSTRIES LTD. Financial Statement Overview
Summary
Income Statement
60
Neutral
Balance Sheet
55
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.63B | 21.65B | 22.38B | 20.82B | 12.87B | 6.17B |
| Gross Profit | 8.42B | 9.94B | 11.26B | 10.64B | 6.10B | 2.40B |
| EBITDA | -145.20M | 822.90M | 2.22B | 3.01B | 1.82B | -171.20M |
| Net Income | -1.96B | -687.90M | 543.00M | 1.52B | 669.30M | -974.90M |
Balance Sheet | ||||||
| Total Assets | 17.22B | 18.56B | 20.67B | 14.15B | 12.30B | 10.95B |
| Cash, Cash Equivalents and Short-Term Investments | 594.90M | 481.10M | 445.50M | 556.10M | 579.80M | 2.27B |
| Total Debt | 7.79B | 7.51B | 8.71B | 3.52B | 2.98B | 3.53B |
| Total Liabilities | 12.58B | 12.40B | 13.89B | 7.74B | 6.71B | 5.78B |
| Stockholders Equity | 4.64B | 6.16B | 6.78B | 6.42B | 5.60B | 5.17B |
Cash Flow | ||||||
| Free Cash Flow | 386.30M | 2.49B | -2.32B | 679.50M | -601.40M | 79.20M |
| Operating Cash Flow | 632.00M | 2.92B | -1.32B | 1.75B | -236.80M | 170.40M |
| Investing Cash Flow | -265.10M | -465.70M | -759.90M | -844.70M | 1.46B | -755.70M |
| Financing Cash Flow | -443.40M | -2.51B | 2.18B | -745.70M | -1.26B | 735.30M |
V.I.P.INDUSTRIES LTD. Technical Analysis
Negative
427.15
Price Trends
359.14
Negative
367.60
Negative
399.33
Negative
Market Momentum
-12.45
Positive
36.24
Neutral
19.43
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 427.15 is above the 20-day moving average (MA) of 342.74, above the 50-day MA of 359.14, and above the 200-day MA of 399.33, indicating a bearish trend. The MACD of -12.45 indicates Positive momentum. The RSI at 36.24 is Neutral, neither overbought nor oversold. The STOCH value of 19.43 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹92.38B | 21.31 | ― | 1.18% | 8.84% | 41.74% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | ₹39.16B | 16.14 | ― | ― | 16.45% | ― | |
58 Neutral | ₹70.62B | 80.89 | ― | 0.22% | 15.87% | 2.76% | |
54 Neutral | ₹45.21B | -25.69 | ― | ― | -12.59% | -328.41% | |
48 Neutral | ₹69.39B | -15.34 | ― | ― | -32.83% | 31.19% | |
40 Neutral | ₹59.04B | -9.11 | ― | ― | -20.02% | 25.52% |
* Consumer Cyclical Sector Average
IN:VIPIND
V.I.P.INDUSTRIES LTD.
318.25
37.00
13.16%
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IN:ALOKINDS
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IN:ARVIND
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12.07%
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1,441.40
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IN:VMART
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V.I.P.INDUSTRIES LTD. Corporate Events
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 ...
V.I.P. Industries Faces Maharashtra Tax Inspection, Sees No Material Impact Yet
Feb 24, 2026
V.I.P. Industries has disclosed that the Assistant Commissioner of State Tax, Maharashtra initiated an inspection and search on February 24, 2026 at its Mumbai registered office and its Nashik manufacturing unit under Section 67 of the Maharashtra...
VIP Industries Alerts Shareholders on Possible Transfer of Shares to IEPF Account
Jan 26, 2026
VIP Industries Limited has notified the stock exchanges that it has published newspaper advertisements in the Free Press Journal and Nav Shakti to inform equity shareholders about the dispatch of intimation letters regarding the proposed transfer ...
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.
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