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.

18 Feb 2020

369.35

1.34%

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 increased from 117 to 125 in Sep 2025 qtr.

VIP Industries Ltd.

14 Feb 2020

369.35

1.34%

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. is trading below its 50 day SMA of 389.4

VIP Industries Ltd.

13 Feb 2020

369.35

1.34%

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. is trading above its 30 day SMA of 368.8

VIP Industries Ltd.

12 Feb 2020

369.35

1.34%

Q3FY20 Result Update

Hold: VIP Industries Ltd.

Recommendation Target

Prabhudas Lilladhar

We cut our EPS estimates by 5%/7% for FY21E/FY22E and downgrade the stock from BUY to HOLD as 1) VIP has ceded market share due to rising competitive intensity 2) growth concerns can aggravate further if there is an extended factory shut down in China due to Coronavirus mayhem as only 60% of the requirements for 1QFY21 (strongest quarter) are currently hedged by placing advance orders and 3) extended slowdown in discretionary spending amid weak environment has structurally de-railed the growth momentum. Despite near term growth headwinds, margin performance has...

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

VIP Industries Ltd.

28 Nov 2019

369.35

1.34%

VIP Industries: Initiating Coverage

Buy: VIP Industries Ltd.

IDBI Capital

We initiate coverage on VIP Industries (VIP) with a BUY rating and a target price of Rs574 based on PER of 32x FY22E. VIP is a proxy play on rising spends towards travel and tourism in India. It is a leader in an industry dominated by unbranded players. Further, it has established brands, strong distribution network, skilled management and strong product portfolio. We expect its sales/EBITDA/net profits are to grow at CAGR of 11%/25%/20% over FY19-22E, respectively. We believe that the premium valuation (PER of 24.4x FY22) is justified given significant growth prospects (60% market unorganized), strong...

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

VIP Industries Ltd.

07 Nov 2019

369.35

1.34%

Q2FY20 Result Update

Buy: VIP Industries Ltd.

Target

Prabhudas Lilladhar

We cut our EPS estimates by 8.8%/8.7% for FY20E/FY21E given aggravating concerns on growth amid slowdown in discretionary spends. All channels except for e-com have struggled but a diversified mix has helped VIP tackle slowdown concerns better. Despite subdued top-line growth, gross margin expanded 250bps YoY to 53.3% amid improved negotiation with Chinese vendors who are saddled with excess capacity after increase in import duty by the US. The gross margin advantage got nullified at the operating level due to 19% YoY increase in employee expenses due to addition of manpower and...

VIP Industries Ltd. is trading above its 30 day SMA of 368.8

VIP Industries Ltd.

18 Oct 2019

369.35

1.34%

Vip Industries

Buy: VIP Industries Ltd.

ICICI Securities Limited

VIP Industries Ltd.'s price crossed above 30Day SMA today

VIP Industries Ltd.

30 Jul 2019

369.35

1.34%

Q1FY20 Result Update

Buy: VIP Industries Ltd.

Target

Prabhudas Lilladhar

from brand VIP (repositioning done in April) has helped the company tackle slowdown concerns better. Nonetheless, given the current situation, we cut our sales estimates by 8%/13% for FY20E/21E. Despite subdued top-line growth, gross margin expanded 10bps YoY to 50.4% and Ind-AS adjusted EBITDA margin expanded 60bps YoY to 19.2% due to 1) lag effect of price hike taken in March 2) only partial liquidation of high cost inventory sitting on books 3) launch of new products with better margin profile 4) superior product mix (sales of high margin brand VIP has increased) and 5) better...

VIP Industries Ltd. is trading above its 30 day SMA of 368.8

VIP Industries Ltd.

25 Mar 2019

369.35

1.34%

Company Initiation - Bag it for a sky ride

Buy: VIP Industries Ltd.

Prabhudas Lilladhar

VIP is a formidable play on luggage market in India .......................................... 5 Investment Argument............................................................................................. 7 Organized luggage industry on cusp of higher growth ....................................... 7 VIP all set to ride the growth phase in luggage industry................................... 10 Creating twin levers of growth .......................................................................... 15 Channel checks indicate brand pull for Skybags is high; Carlton is a sturdy product ............................................................................................................. 16 Competitive landscape of the luggage industry ................................................ 17...

VIP Industries Ltd.'s price crossed above 30Day SMA today

VIP Industries Ltd.

08 Feb 2019

369.35

1.34%

V I P Industries Ltd

Accumulate: VIP Industries Ltd.

Recommendation Target

Angel Broking

For Q3FY2019, VIP Industries (VIP) posted a strong yoy growth of 27% in revenue to `430 cr mainly led by 30-35% volume growth. This growth was above our expectation of 21%. Outlook and Valuation: While the growth in volume remains encouraging and is likely to sustain as the company is in sweet spot in

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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