Apparels & Accessories company VIP Industries announced Q1FY27 results Consolidated Financial Highlights: Total Income for Q1FY27 stood at Rs 582.43 crore, representing a growth of 32.39% QoQ from Rs 439.95 crore in Q4FY26 and an increase of 2.89% YoY compared to Rs 566.05 crore in Q1FY26. Revenue from operations for Q1FY27 was Rs 578.36 crore, showing a significant increase of 32.58% QoQ from Rs 436.23 crore in Q4FY26 and a growth of 3.02% YoY from Rs 561.43 crore in Q1FY26. The Group reported a Net Loss of Rs 53.56 crore in Q1FY27, which is a narrowing of loss by 58.45% QoQ compared to a Net Loss of Rs 128.90 crore in Q4FY26, but a widening of loss from Rs 13.10 crore in Q1FY26. Loss before Tax for Q1FY27 was Rs 54.65 crore, compared to a loss of Rs 128.80 crore in Q4FY26 and a loss of Rs 17.05 crore in Q1FY26. Total Comprehensive Loss for the period Q1FY27 was Rs 53.10 crore, as against a loss of Rs 126.10 crore in Q4FY26 and a loss of Rs 13.94 crore in Q1FY26. Basic and Diluted Earnings Per Share (EPS) for Q1FY27 stood at Rs (3.77), compared to Rs (9.07) in Q4FY26 and Rs (0.92) in Q1FY26. Standalone Financial Highlights: Total Income for Q1FY27 was Rs 574.63 crore, an increase of 31.68% QoQ from Rs 436.40 crore in Q4FY26 and a growth of 1.39% YoY compared to Rs 566.78 crore in Q1FY26. Revenue from operations for Q1FY27 stood at Rs 569.52 crore, up 32.26% QoQ from Rs 430.61 crore in Q4FY26 and an increase of 1.50% YoY from Rs 561.12 crore in Q1FY26. The Company reported a Standalone Net Loss of Rs 59.48 crore in Q1FY27, narrowing by 58.21% QoQ from a loss of Rs 142.33 crore in Q4FY26, and widening from a loss of Rs 23.33 crore in Q1FY26. Loss before Tax for Q1FY27 was Rs 59.12 crore, against a loss of Rs 139.18 crore in Q4FY26 and a loss of Rs 30.98 crore in Q1FY26. Total Comprehensive Loss for Q1FY27 was Rs 59.06 crore, compared to a loss of Rs 144.46 crore in Q4FY26 and a loss of Rs 23.58 crore in Q1FY26. Basic and Diluted EPS for Q1FY27 was Rs (4.19), versus Rs (10.02) in Q4FY26 and Rs (1.64) in Q1FY26. Business Highlights Inventory Provision Reversal: The consolidated results for Q1FY27 include a reversal of inventory provision aggregating to Rs 12.31 crore. Previously, a provision of Rs 122.66 crore was accrued during the year ended March 31, 2026. Bangladesh Operations: The consolidated results include four subsidiaries located in Bangladesh. For Q1FY27, these entities collectively reflected total revenues of Rs 117.68 crore, with a total net profit after tax of Rs 5.47 crore and a total comprehensive income of Rs 5.30 crore. Sale of Non-Core Assets: The Company completed the sale of remaining non-core assets (Property, Plant and Equipment and Investment Properties) in July 2026 for a gross consideration of Rs 51.18 crore. Employee Stock Appreciation Rights (ESARP 2018): During Q1FY27, the Company granted 1,20,000 stock appreciation rights to eligible employees, resulting in a net expense of Rs 0.09 crore. Corporate Restructuring: A Composite Scheme of Arrangement to demerge the Consumer Products Business into HHIL Limited and amalgamate the remaining company into Hindware Limited is pending final NCLT sanction and other statutory approvals. Legal Matters: A commercial suit for Rs 6.41 crore filed by a Chinese company is being defended; no provision has been made. The dispute regarding usage rights for the "Carlton" brand in India is currently sub judice before the Delhi High Court. The Company has sold its existing inventory under the brand as per interim relief and is currently not manufacturing new inventory under this mark in India. Result PDF