NSE: VIPIND | BSE: 507880

Momentum Trap

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365.60 0.90 (0.25%)

26.54% Fall from 52W High

64,893 NSE+BSE Volume

NSE 23 Dec, 2025 3:31 PM (IST)

5,193.4

Market Cap

High in industry

Beta 1Year

High 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.

26 May 2021

365.60

0.25%

Result Update:V I P Inds.

Buy: VIP Industries Ltd.

Recommendation Target

Axis Direct

We introduce FY24 estimates and believe, VIP will be able to bounce back to its leadership position in the industry thus driving us to upgrade the stock to BUY (HOLD earlier) with a revised TP of Rs. 415/share (earlier Rs. 330) based on FY24E EPS.

VIP Industries Ltd. is trading below all available SMAs

VIP Industries Ltd.

30 Mar 2021

365.60

0.25%

Channel Check Update - Demand momentum intact

Accumulate: VIP Industries Ltd.

Prabhudas Lilladhar

VIP took price hike of ~6% from March 01 to counter inflationary pressures. Recently, we conducted some channel checks (interacted with few distributors and an MD of one unlisted company) in the luggage space to get a pulse of current demand trends. Our checks reveal 1) demand in 4QFY21 benefitted from gradual reopening of schools in Jan/Feb (augured well for backpack sales) coupled with shift in market share from unorganized to...

Number of FII/FPI investors increased from 117 to 125 in Sep 2025 qtr.

VIP Industries Ltd.

05 Feb 2021

365.60

0.25%

Q3FY21 Result Update - Grim margin outlook - Accumulate

Accumulate: VIP Industries Ltd.

Target

Prabhudas Lilladhar

We cut our EPS estimates by 7.5%/2.1% for FY22E/FY23E respectively amid aggressive discounting (higher channel inventory due to low demand) and RM cost inflation (input costs are up ~60-70% on QoQ basis). Our earnings cut is steeper for FY22E, as discounting and inflationary pressures are unlikely to sustain beyond 12 months. In addition, we have r e-aligned our borrowing forecast (VIP aims to be debt free by July/Aug) and have baked in the benefits of cost reduction program (targeted savings of ~Rs1.8bn in FY21E; 50% is sustainable in nature) resulting in 220bps EBITDA margin...

VIP Industries Ltd. has an average target of 402.25 from 4 brokers.

VIP Industries Ltd.

24 Nov 2020

365.60

0.25%

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. is trading below all available SMAs

VIP Industries Ltd.

10 Nov 2020

365.60

0.25%

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 an average target of 402.25 from 4 brokers.

VIP Industries Ltd.

10 Nov 2020

365.60

0.25%

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 below all available SMAs

VIP Industries Ltd.

10 Aug 2020

365.60

0.25%

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.

Number of FII/FPI investors increased from 117 to 125 in Sep 2025 qtr.

VIP Industries Ltd.

07 Aug 2020

365.60

0.25%

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. has an average target of 402.25 from 4 brokers.

VIP Industries Ltd.

27 May 2020

365.60

0.25%

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,...

VIP Industries Ltd. is trading below all available SMAs

VIP Industries Ltd.

27 May 2020

365.60

0.25%

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 increased from 117 to 125 in Sep 2025 qtr.

Is VIP Industries Ltd. worth buying?

381 Votes:

Buy 74.54%

Sell 12.34%

Hold 13.12%

RESEARCH REPORTS

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Hold SEE REPORTS >

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