NSE: VIPIND | BSE: 507880

Momentum Trap

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416.00 1.20 (0.29%)

29.46% Fall from 52W High

194.9K NSE+BSE Volume

NSE 08 Jul, 2025 12:49 PM (IST)

5,908

Market Cap

High in industry

1.0

Beta 1Year

Average volatility

VIP Industries Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for VIPIND, BSE:507880 VIP Industries Ltd.

VIP Industries Ltd.

24 Nov 2020

416.00

0.29%

Management Meet Update - Recovery in sight; cost reduction to aid profits - Accumulate

Accumulate: VIP Industries Ltd.

Target

Prabhudas Lilladhar

In a group call we hosted recently, management of VIP Industries highlighted 1) timeline of ~12-18 months for sales to revert to pre-COVID levels 2) plans to reduce cost by ~1.8bn in FY21E (~50% of the reduction is expected to be sustainable in nature) and 3) pressure on GM in FY21 (replica of 1HFY21) given higher discounts and reduction in share of Bangladesh operations. Amid indications of slightly back-ended recovery we cut our sales estimates by 5%/9%/6% for FY21/FY22/FY23 respectively. While we expect EBITDA loss to widen in FY21E to Rs844mn (Rs719mn earlier) and cut our FY22E EBITDA...

VIP Industries Ltd. has gained 21.39% in the last 1 Month

VIP Industries Ltd.

10 Nov 2020

416.00

0.29%

Result Update:V I P Inds.

Sell: VIP Industries Ltd.

Target

Axis Direct

We revise our Revenue/PAT estimates for FY21E/22E. Maintain SELL with revised TP of Rs. 190 (earlier Rs. 165). Key upside risks to our estimate faster than expected recovery in demand, vaccine for COVID, a strong marriage season in Q3

VIP Industries Ltd. has gained 21.39% in the last 1 Month

VIP Industries Ltd.

10 Nov 2020

416.00

0.29%

Vip Industries

Buy: VIP Industries Ltd.

Recommendation Target

ICICI Securities Limited

i) The management indicated that pandemic has the hit travel industry the hardest and may have pushed the luggage industry two to three years back (luggage being proxy play), ii) to minimise cash burn, VIP has significantly rationalised fixed overheads from | 40 crore/month to | 24 core/ month, iii) it will be cutting on advertising and marketing spends and has already shut down 100 (out of 250) non-profitable EBOs, iv) liquidation of existing inventory putting pressure on gross margins, v) Bangladesh manufacturing currently utilised for manufacturing masks (run rate: | 3 crore/month) to...

VIP Industries Ltd. is trading above all available SMAs

VIP Industries Ltd.

10 Aug 2020

416.00

0.29%

Result Update:V I P Inds.

Sell: VIP Industries Ltd.

Recommendation Target

Axis Direct

Uncertain demand outlook: Q1FY21 was a washout quarter (April-May no sales) with no further improvement expected in Q2FY21 although demand in July was better than June, however, it is nowhere near pre-COVID levels as travel industry continues to be the most affected one.

VIP Industries Ltd. has gained 58.17% in the last 3 Months

VIP Industries Ltd.

07 Aug 2020, 12:00AM

416.00

0.29%

VIP Industries: Q1FY21 Result Review

Hold: VIP Industries Ltd.

Recommendation Target

IDBI Capital

VIP reported significantly weaker than expected Q1FY21 results. This was due to adverse impact of COVID-19 which has affected luggage sales. Its net sales fell 92.9% YoY at Rs 403mn (significantly below our forecast). It reported an EBITDA loss of Rs578 mn due to sharp fall in sales and sticky employee costs (fell only 7.3% QoQ to...

VIP Industries Ltd. is trading above all available SMAs

VIP Industries Ltd.

27 May 2020

416.00

0.29%

Q4FY20 Result Update - Prolonged demand slump on the cards - HOLD

Hold: VIP Industries Ltd.

Target

Prabhudas Lilladhar

Topline slumps as revenue for March month falls 76%: Topline declined 28.4% YoY to Rs3,113mn (PLe of Rs3,993mn) as there was a revenue loss of Rs1.2bn due to COVID-19. Revenues in Jan & Feb of 2020 stood at Rs2.8bn. However,...

Number of FII/FPI investors decreased from 135 to 124 in Mar 2025 qtr

VIP Industries Ltd.

27 May 2020

416.00

0.29%

Vip Industries

Hold: VIP Industries Ltd.

Target

ICICI Securities Limited

The Covid-19 pandemic has had a grievous impact on the global travel industry and retail environment. Revenues for Q4FY20 fell 28% YoY to | 311.3 crore. While sales in January-February fell 7% YoY to | 279.0 crore, March was a complete washout with revenues down 76% YoY to | 32.0 crore. The company's procurement from own facility in Bangladesh increased substantially from 10-15% to 55% in Q4FY20. This translated into gross margin expansion of ~1000 bps to 57.6%. Owing to negative operating leverage, EBITDA margins (adjusting for Ind-AS 116) contracted...

Number of FII/FPI investors decreased from 135 to 124 in Mar 2025 qtr

VIP Industries Ltd.

18 Feb 2020

416.00

0.29%

Vip Industries

Hold: VIP Industries Ltd.

Recommendation Target

ICICI Securities Limited

Since revenue contribution for VIP is skewed towards the first quarter of the financial year (~30% of revenue), disruption on the supply side may pose a risk to growth for FY21. We remain cautious on the near term outlook, amid headwinds faced by the luggage industry. Owing to its healthy balance sheet (D/E: 0.1x, NWC days: 85) and strong brand patronage among consumers, VIP's business model has the inherent ability to tide over tough market conditions. Furthermore, owing to its strong manufacturing capacity (Bangladesh: soft luggage, India: hard luggage), it is well placed compared...

Number of FII/FPI investors decreased from 135 to 124 in Mar 2025 qtr

VIP Industries Ltd.

14 Feb 2020

416.00

0.29%

Result Update:V I P Inds.

Buy: VIP Industries Ltd.

Axis Direct

VIP Industries (VIPIND) Q3FY20 performance was subdued and missed our estimates on all counts. Despite flat revenue growth of 0.5% in Q3FY20 (high base, lower e-commerce contribution, forgone institutional business to maintain margins

VIP Industries Ltd. has gained 21.39% in the last 1 Month

VIP Industries Ltd.

13 Feb 2020

416.00

0.29%

Q3FY20 Result Review : VIP Industries

Buy: VIP Industries Ltd.

Target

IDBI Capital

VIP reported better than expected profitability in Q3FY20 although top-line was lower than our forecast. VIP's net sales remained flat YoY at Rs4,324 mn (4.3% below our forecast) as it lost market share. Nevertheless, EBITDA margin was 136ps ahead of our estimate at 15.7%. Gross margin expanded 560bps YoY to 53.3% due to improved terms in sourcing raw materials. Looking ahead, the company foresees challenges in procuring soft luggage from China due to the outbreak of coronavirus. Nevertheless, VIP believes it remains better-placed...

VIP Industries Ltd. has gained 58.17% in the last 3 Months

Is VIP Industries Ltd. worth buying?

379 Votes:

Buy 74.67%

Sell 12.14%

Hold 13.19%

RESEARCH REPORTS

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