Arthneeti

V I P Industries Q1 FY27 Share Price & Earnings Call Analysis

₹254.55+1.11% today
Market cap
₹3,616 Cr
ROE
-92.37%
Price to sales
1.92
Debt to equity
2.55
52W high / low
₹419 / ₹252
Sales growth (5Y)
24.61%
EBITDA margin
-14.75%
Net profit margin
-22.36%
Promoter holding
42.35%
Sales (last year)
₹1,875 Cr

VIP Industries is engaged interalia, in the business of manufacturing and marketing of luggage, bags and accessories.

Guidance scorecard · Q1 FY27 call

What V I P Inds.'s management guided
and where it ranks in Consumer Durables

RevenueDeclineMarginsFlatCapexNone plannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY26 call

Decline
  • Q1 FY26 saw a 12% revenue decline primarily due to intensified competition, especially in e-commerce secondary sales.
  • The e-commerce channel experienced its first degrowth in eight to nine quarters, impacting overall revenue.
  • Modern trade faced challenges due to a large chain consolidating stores, affecting volume and market share.
  • Premium brand Carlton reported double-digit growth, showing promise in premiumization strategy.
  • Management is cautious about forecasting due to pending shareholder changes and potential strategy shifts.
  • Expect corrective actions in e-commerce aiming for revival in Q2, a big quarter for this channel.

2 more points from V I P Inds.'s call on revenue

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Full Q1 FY26 analysis

MarginsQ1 FY26 call

Flat

See what V I P Inds. said on margins — free account, 30 seconds.

Full Q1 FY26 analysis

CapexQ1 FY26 call

None planned
  • No major capex plans for the year; only maintenance capex is planned.
  • Focus currently is not on big investments, with other priorities taking precedence.
  • On the Caprese brand, the company is maintaining its presence without significant focus or major demand/supply changes at present.
Full Q1 FY26 analysis

FundraisingQ1 FY26 call

See what V I P Inds. said on fundraising — free account, 30 seconds.

Full Q1 FY26 analysis

Order bookQ1 FY26 call

Ask what V I P Inds. said on the order book →

Full Q1 FY26 analysis
Full Consumer Durables ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Consumer Durables
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does V I P Inds. rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Consumer Durables companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹166 Cr20.3
240%+Up 2%+₹100 Cr12.7
340%+Up 0–2%₹3,249 Cr17.4
440%+Up 0–2%₹2,081 Cr18.8
540%+Flat₹2,429 Cr41.1
640%+Flat₹2,163 Cr25.6

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Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables ranking

V I P Inds. announcements

All announcements →

Financials of V I P Inds.

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of V I P Inds.

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +451636546546516639544501494561406454436
Expenses +386556493494508590546472488537513531518
Operating Profit64815352849-229625-106-77-82
OPM %14%13%10%10%2%8%-0%6%1%4%-26%-17%-19%
Other Income +-43283342628715754
Interest8111215171820181717181620
Depreciation20212427282930303032333231
Profit before tax-6771913-334-46-17-33-17-142-50-129
Tax %-34%25%31%46%-28%-9%-28%-26%-16%-23%1%5%0%
Net Profit +-458137-244-33-12-27-13-143-53-129
EPS in Rs-0.304.080.940.50-1.680.28-2.33-0.87-1.93-0.92-10.08-3.72-9.07

Financials of V I P Inds.

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +1,0171,1921,2521,4101,7851,7146191,2902,0822,2452,1781,858
Expenses +9381,0821,1171,2141,5581,4186831,1431,7652,0472,0902,099
Operating Profit79110134196227296-6414731719888-241
OPM %8%9%11%14%13%17%-10%11%15%9%4%-13%
Other Income +73798-364836-163719101
Interest3332425312631597970
Depreciation18141413178778707499119127
Profit before tax6595126190215148-1258619777-91-338
Tax %29%30%32%33%32%25%-22%22%22%29%-25%-0%
Net Profit +476685127145112-976715254-69-338
EPS in Rs3.304.706.038.9710.287.91-6.904.7310.753.83-4.84-23.79
Dividend Payout %45%43%40%33%31%40%0%53%42%52%0%0%

Financials of V I P Inds.

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital282828282828282828282828
Reserves277311380461553582489531613650588261
Borrowings +31140086269353298352871751738
Other Liabilities +163231201284404364223371421517489577
Total Liabilities4995856097731,0711,2431,0941,2291,4152,0671,8561,604
Fixed Assets +71676177117371288265309532507507
CWIP1113632715141815
Investments00687214114142233673
Other Assets +4275174796219488296629151,0671,5181,3261,009
Total Assets4995856097731,0711,2431,0941,2291,4152,0671,8561,604

Financials of V I P Inds.

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +145312685-5629285-24175-132292181
Cash from Investing Activity +-3-8-73-2916-85-145146-84-76-47-48
Cash from Financing Activity +-14-45-51-4431-21174-126-75218-251-139
Net Cash Flow-30213-9-414-31610-5-6
Free Cash Flow94511855-115248102-5869-231251205
CFO/OP44%73%123%76%7%112%-137%-10%72%-53%337%-76%

Financials of V I P Inds.

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days404635466157886245536253
Inventory Days145158153168219208311305217326222146
Days Payable768978113132135159166112145123138
Cash Conversion Cycle10911510910114813024020115023416160
Working Capital Days7174737685726291574836-21
ROCE %20%28%34%43%38%29%-12%13%28%8%-2%-29%

Guidance history

How V I P Inds.'s guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY26 call →DeclineFlatNone planned——
Q3 FY25 call →10–20%Up 2%+Planned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

11out of 100

Momentum score · price trend

11 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−39.3%12%
Last 6 months−14.1%30%
Last 3 months−14.0%30%

The price is 65.6% below its all-time high of ₹740.9 (1 Apr 2022). Stocks more than 20% below their peak have their score halved, so 23 became 11.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For V I P Inds.: 0.4 × 12 + 0.4 × 30 + 0.2 × 30 = 23, halved to 11 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What V I P Inds.'s management said in earlier quarters

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