VIP Industries is engaged interalia, in the business of manufacturing and marketing of luggage, bags and accessories.
Market LeadershipThe company is Asia’s leading and the world’s 2nd-largest manufacturer and retailer of luggage, backpacks, and handbags. It is an established leader in the organized and oligopolistic Indian luggage market with a ~38% market share.[1]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Safari Inds. | 2072.50 | 61.19 | 10167.58 | 0.14 | 46.94 | 58.26 | 533.55 | 16.55 | 18.67 | 1925.15 | 13.74 | 166.16 | 46.94 | 9.72 | 11.41 | 0.11 |
| 2. | V I P Inds. | 370.00 | – | 5261.70 | 0.00 | -139.03 | -261.12 | 404.19 | -25.69 | -2.99 | 1953.52 | -3.98 | -204.64 | -139.03 | 13.57 | -4.69 | 1.85 |
| 3. | Nilkamal Ltd | 1404.30 | 20.54 | 2144.42 | 1.43 | 33.67 | 3.20 | 967.71 | 17.76 | 9.57 | 3599.14 | 8.11 | 104.43 | 33.57 | 1.39 | 4.46 | 0.36 |
| 4. | Wim Plast | 402.35 | 7.98 | 482.96 | 2.49 | 12.50 | -33.90 | 84.32 | 7.83 | 14.85 | 373.04 | 16.19 | 60.50 | 12.50 | 0.86 | 10.56 | 0.00 |
| 5. | Bai-Kakaji Poly. | 208.00 | 24.24 | 445.22 | 0.00 | – | – | – | – | 26.38 | 325.47 | 10.38 | 18.37 | – | – | 12.18 | 2.03 |
| 6. | Essen Speciality | 147.00 | 36.88 | 365.13 | 0.68 | 5.19 | -17.88 | 48.35 | 4.41 | 11.50 | 181.66 | 11.64 | 9.90 | 5.19 | 2.32 | 6.77 | 0.17 |
| 7. | Pil Italica Life | 9.34 | 40.91 | 218.05 | 0.00 | 1.15 | 5.50 | 27.64 | 26.73 | 8.90 | 108.82 | 8.65 | 5.33 | 1.15 | 2.67 | 4.89 | 0.19 |
| – | Median: 9 Co. | 208.0 | 30.56 | 445.22 | 0.14 | 4.25 | 4.35 | 66.87 | 14.84 | 11.5 | 325.47 | 10.38 | 16.88 | 4.12 | 2.25 | 6.77 | 0.2 |
Standalone figures in ₹ crores
| Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 563 | 503 | 514 | 440 | 622 | 538 | 541 | 515 | 638 | 544 | 500 | 488 | 561 | 404 |
Expenses | 492 | 453 | 481 | 418 | 564 | 514 | 516 | 494 | 591 | 553 | 482 | 492 | 548 | 509 |
Operating Profit | 71 | 50 | 33 | 22 | 58 | 24 | 24 | 20 | 46 | -9 | 18 | -4 | 13 | -105 |
Other Income | 57 | 5 | 48 | -10 | 29 | 3 | 6 | 4 | 2 | 3 | 3 | 7 | 1 | 14 |
Profit before tax | 107 | 35 | 61 | -10 | 61 | -3 | -6 | -15 | 6 | -51 | -22 | -40 | -31 | -138 |
Tax % | 23% | 8% | 7% | 13% | 25% | -27% | -22% | -30% | 25% | -24% | -24% | -24% | -25% | 1% |
Net Profit | 83 | 32 | 57 | -11 | 46 | -2 | -5 | -11 | 4 | -38 | -17 | -31 | -23 | -139 |
EPS in Rs | 5.85 | 2.28 | 4.04 | -0.80 | 3.24 | -0.17 | -0.34 | -0.75 | 0.31 | -2.71 | -1.19 | -2.15 | -1.64 | -9.79 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 942 | 1,017 | 1,192 | 1,251 | 1,410 | 1,784 | 1,710 | 613 | 1,257 | 2,020 | 2,216 | 2,170 | 1,954 |
Expenses | 859 | 939 | 1,087 | 1,130 | 1,227 | 1,581 | 1,463 | 689 | 1,138 | 1,840 | 2,086 | 2,115 | 2,031 |
Operating Profit | 83 | 78 | 105 | 121 | 183 | 204 | 247 | -76 | 119 | 180 | 129 | 54 | -78 |
Other Income | 18 | 7 | 3 | 9 | 10 | 10 | -24 | 59 | 47 | 97 | 41 | 15 | 25 |
Interest | 4 | 3 | 3 | 3 | 2 | 4 | 24 | 29 | 24 | 25 | 51 | 70 | 65 |
Depreciation | 17 | 15 | 12 | 11 | 11 | 13 | 78 | 67 | 58 | 58 | 83 | 106 | 114 |
Profit before tax | 80 | 67 | 92 | 116 | 179 | 197 | 121 | -113 | 84 | 193 | 36 | -107 | -231 |
Net Profit | 58 | 48 | 63 | 76 | 119 | 129 | 89 | -85 | 64 | 161 | 28 | -81 | -210 |
EPS in Rs | 4.13 | 3.39 | 4.49 | 5.41 | 8.39 | 9.11 | 6.28 | -5.98 | 4.50 | 11.36 | 1.97 | -5.73 | -14.77 |
Dividend Payout % | 41% | 44% | 45% | 44% | 36% | 35% | 51% | 0% | 55% | 40% | 101% | 0% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 |
Reserves | 259 | 279 | 308 | 370 | 444 | 518 | 519 | 440 | 477 | 579 | 588 | 521 | 359 |
Borrowings | 16 | 31 | 14 | 0 | 0 | 86 | 251 | 331 | 233 | 289 | 755 | 655 | 715 |
Other Liabilities | 144 | 161 | 229 | 207 | 294 | 396 | 353 | 209 | 294 | 350 | 485 | 480 | 455 |
Total Liabilities | 448 | 499 | 580 | 605 | 766 | 1,029 | 1,151 | 1,008 | 1,032 | 1,246 | 1,857 | 1,685 | 1,557 |
Fixed Assets | 68 | 55 | 52 | 49 | 62 | 83 | 311 | 234 | 202 | 238 | 462 | 453 | 460 |
Gross Block | 274.62 | 258.42 | 259.29 | 60.17 | 84.12 | 117.92 | 421.38 | 396.85 | 419.22 | 422.56 | 707.44 | 783.64 | – |
Accumulated Depreciation | 206.96 | 202.99 | 207.61 | 11.45 | 22.18 | 34.75 | 110.39 | 163.23 | 217.16 | 184.48 | 245.53 | 330.86 | – |
CWIP | 1 | 1 | 1 | 1 | 1 | 4 | 3 | 2 | 6 | 14 | 4 | 8 | 4 |
Investments | 10 | 18 | 20 | 88 | 101 | 44 | 89 | 198 | 100 | 76 | 54 | 56 | 57 |
Other Assets | 370 | 424 | 507 | 468 | 602 | 897 | 748 | 574 | 723 | 918 | 1,336 | 1,169 | 1,036 |
Total Assets | 448 | 499 | 580 | 605 | 766 | 1,029 | 1,151 | 1,008 | 1,032 | 1,246 | 1,857 | 1,685 | 1,557 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 45 | 13 | 51 | 125 | 84 | -64 | 271 | 75 | -14 | 63 | -116 | 264 |
Cash from Investing Activity | 3 | -2 | -7 | -72 | -30 | 23 | -67 | -139 | 173 | 15 | -49 | -36 |
Cash from Financing Activity | -49 | -14 | -45 | -51 | -44 | 31 | -207 | 73 | -163 | -63 | 171 | -227 |
Net Cash Flow | -1 | -3 | -0 | 2 | 10 | -11 | -3 | 9 | -5 | 15 | 6 | 1 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 37 | 40 | 46 | 35 | 46 | 61 | 56 | 87 | 60 | 44 | 54 | 62 |
Inventory Days | 118 | 140 | 150 | 143 | 156 | 189 | 156 | 205 | 192 | 151 | 231 | 165 |
Days Payable | 67 | 74 | 86 | 80 | 115 | 122 | 118 | 136 | 110 | 76 | 117 | 111 |
Cash Conversion Cycle | 88 | 106 | 110 | 99 | 86 | 128 | 94 | 156 | 142 | 119 | 167 | 117 |
Working Capital Days | 63 | 70 | 72 | 68 | 70 | 78 | 59 | 29 | 79 | 58 | 46 | 30 |
ROCE % | 23% | 20% | 28% | 32% | 42% | 36% | 27% | -12% | 14% | 25% | 5% | -3% |
Direct from BSE filings, auto-summarised
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Stock Analysis
VIP Industries Limited is engaged in the business of manufacturing and marketing of luggage, bags, and accessories.
Currently no data available for Key Growth Triggers.
Currently no data available for Order Book.
Currently no data available for Key Red Flags.
Currently no data available for Key Dates To Watch.
Corporate Announcements
