Apparels & Accessories company VIP Industries announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from Operations: In Q4FY26, revenue from operations stood at Rs 436.23 crore, representing a decrease of 3.94% QoQ from Rs 454.13 crore in Q3FY26 and a decline of 11.73% YoY from Rs 494.21 crore in Q4FY25. For the full year FY26, consolidated revenue was Rs 1,858.13 crore compared to Rs 2,178.43 crore in FY25, a YoY decline of 14.70%. Total Income: The total consolidated income for Q4FY26 was Rs 439.95 crore. For the full year FY26, it reached Rs 1,880.49 crore compared to Rs 2,189.35 crore in FY25. Net Profit/Loss: The company reported a consolidated Net Loss of Rs (128.90) crore in Q4FY26, compared to a loss of Rs (52.87) crore in Q3FY26 and a loss of Rs (27.36) crore in Q4FY25. For the full year FY26, the consolidated Net Loss stood at Rs (338.01) crore against a loss of Rs (68.79) crore in FY25. Profit/Loss Before Tax: Profit before tax for Q4FY26 was a loss of Rs (128.80) crore. For the full year FY26, the loss before tax was Rs (338.02) crore compared to a loss of Rs (91.22) crore in FY25. Exceptional Items: The company recorded an exceptional income of Rs 78.18 crore for FY26, which included gains from the sale of non-core assets (Rs 63.53 crore) and insurance claims for property and inventory destroyed by fire. Earnings Per Share (EPS): Basic and Diluted EPS for Q4FY26 stood at Rs (9.07). For the full year FY26, the EPS was Rs (23.79) compared to Rs (4.84) in FY25. Standalone Financial Highlights Revenue from Operations: Standalone revenue for Q4FY26 was Rs 430.61 crore, showing a decline of 4.98% QoQ from Rs 453.17 crore and a decline of 11.78% YoY from Rs 488.13 crore. For the full year FY26, standalone revenue was Rs 1,849.09 crore compared to Rs 2,169.66 crore in FY25. Total Income: Standalone total income for Q4FY26 was Rs 436.40 crore. For the full year FY26, it was Rs 1,879.05 crore. Net Profit/Loss: The standalone Net Loss for Q4FY26 was Rs (142.33) crore, compared to a loss of Rs (38.19) crore in Q3FY26 and Rs (30.51) crore in Q4FY25. For the full year FY26, the standalone Net Loss was Rs (342.88) crore compared to a loss of Rs (81.40) crore in FY25. Business Highlights Inventory & Debt Reduction: The company achieved ~Rs 230 crore of inventory reduction and ~Rs 70 crore of Net Debt reduction since March 2025. Net Debt decreased from Rs 367 crore in Q4FY25 to Rs 295 crore in Q4FY26. Balance Sheet Cleanup: Net inventory was normalized to ~75 days as of March 2026, standing at Rs 472 crore compared to Rs 698 crore in Q4FY25. Channel Optimization: All channels reached optimal levels at <60 days of inventory (down from 90+ days in September 2025). Liquidation support of Rs 40-50 crore was provided to the channel. Brand & Product Roadmap: The brand architecture was finalized with a 25-30% reduction in SKU count in the portfolio. Over 65 new products were launched across various categories. Segment Performance: The company operates in a single segment, which is the "Manufacturing and marketing of luggage and bags." Operational Updates: Q4 Bangladesh operations reported an EBITDA of Rs 9 crore. The company is currently undergoing vendor and warehouse consolidation. Offline Channel Turnaround: De-growth in the offline channel (including Caprese) was successfully arrested, moving from -11% in H1FY26 to -3% in H2FY26. Early Growth Signals: Early signals from April 2026 showed a >30% YoY increase in retailers billed and a >35% YoY increase in General Trade secondary sales. Change in Control: Multiples Private Equity Fund acquired control and were classified as 'Promoters' of the company effective September 23, 2025. Auditor Appointment: The Board has recommended the appointment of M/s. Deloitte Haskins & Sells Chartered Accountants LLP as statutory auditors for a term of 5 years. Result PDF