Report as on 25 January 2023 at 08:58 AM

HIGH
MANAGEMENT EFFICIENCY
Strong V I P Inds.
Ability to Service Debt

Buy
Outstanding
Results in Sep 22
CMP: 705.50
Mildly Bullish STOCK INFO:
Technical Trend BSE – 507880/ NSE – VIPIND
Market Cap - Mid Cap (Rs. 9,927 cr)
Sector – Consumer durables
High (29.2%) 52 w H/L (Rs.) – 774.5/506
Dividend Yield: 0.71%
Institutional Holding Debt Equity: 0.35%
Return on Equity: 22.16%
Price to Book: 14.83

www.marketsmojo.com
V I P Inds.
CMP: 705.50 Buy 77
Report as on 25 January 2023 at 08:58 AM
Strong Sell Sell Hold Buy Strong Buy

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WHY IT’S A BUY? IS THIS STOCK FOR YOU?

High Risk, High Return (1 Year)
High Management Efficiency with a high ROCE of
21.52% Absolute Risk Volatility
Adjusted
Company's ability to service its debt is strong V I P Inds. 25.65% 0.68 37.63%
with a healthy EBIT to Interest (avg) ratio of 49.93 SENSEX 6.07% 0.36 17.04%
With a growth in Net Profit of 134.09%, the How much should you buy? -
company declared Outstanding results in Sep 22 Overall Portfolio exposure to V I P Inds. should be less
-The company has declared positive results for the than 10%
last 6 consecutive quarters Overall Portfolio exposure to Consumer durables
-PBT LESS OI(Q) At Rs 46.69 cr has Grown at 161.86 should be less than 30%
% (If sector exposure > 30%, please use optimiser tool to
-PAT(Q) At Rs 43.40 cr has Grown at 134.1 % see which are the best stocks to hold in Consumer
durables)
-ROCE(HY) Highest at 22.95 %
When to exit? - We will constantly monitor the company
Stock is technically in a Mildly Bullish range and suggest at the appropriate time to exit from the
stock
-The stocks MACD and Bollinger Band technical
factors are also Bullish
RETURNS SUMMARY (Price + Dividend)
High Institutional Holdings at 29.2% The stock gave a total returns of 26.55% in the last 1 year
-These investors have better capability and Outperforming Sensex returns of 6.07%
resources to analyse fundamentals of companies 100%

than most retail investors.

Company is among the highest 1% of companies 0%

rated by MarketsMojo across all 4,000 stocks

-100%
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WHAT ARE YOUR RISKS?

Ja

V I P Industries Ltd MIDCAP

Poor long term growth as Net Sales has grown by an
annual rate of 7.19% and Operating profit at 6.51%
over the last 5 years Investors Returns (3 years) –
With ROCE of 21.4, it has a Expensive valuation with Period 6M 1Y 2Y 3Y
a 11.3 Enterprise value to Capital Employed
Stock (%) 6.55% 26.55% 101.31% 54.63%
-The stock is trading at a discount compared to its
average historical valuations Sector (%) -7.91% -7.91% 19.64% 30.11%
-Over the past year, while the stock has generated a Sensex (%) 8.75% 6.07% 24.76% 46.54%
return of 25.65%, its profits have risen by 1338.4% ; the
PEG ratio of the company is 0.1

1
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V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

MANAGEMENT RISK

HIGH MANAGEMENT EFFICIENCY WITH A

HIGH ROCE OF 21.52%

ROCE
The company has been able to generate a Return on Capital
21.52% ROCE
Employed (avg) of 21.52% signifying high profitability per unit
of total capital (equity and debt)

Dividend Payout Ratio

Company's high Dividend Pay-out ratio of 52.84% signifying the
52.84%
Dividend Payout Ratio
profits of the company are real

Tax Ratio
High Tax Ratio signifies that the profits generated by the
25.24% Tax Ratio
company are real and it is making adequate contributions
towards by paying due taxes

Institutional Holding
High Institutional Holdings at 29.53%- These investors have
29.53%Institutional Holding
better capability and resources to analyse fundamentals of
companies than most retail investors

2
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V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

CAPITAL STRUCTURE

COMPANY'S ABILITY TO SERVICE ITS DEBT

IS STRONG WITH A HEALTHY EBIT TO
INTEREST (AVG) RATIO OF 49.93
Total Debt Debt to Equity Ratio
Low Debt to Equity Ratio Sep 2022 254.65 0.17
Company’s average Debt to Equity ratio over the past few years Sep 2021 386.19 0.05
is low at 0.17 times
Sep 2020 329.49 -0.02
No clear trend in Debt to Equity Ratio numbers Sep 2019 - -0.02

Total Debt Debt to EBITDA Ratio

Average Debt to EBITDA Ratio Sep 2022 254.65 2.38
Company’s average Debt to EBITDA ratio over the past few Sep 2021 386.19 2.2
years is average at 3.14 times
Sep 2020 329.49 1.75
No clear trend in Debt to EBITDA Ratio numbers Sep 2019 - 0.26

Total Debt EBIT to Interest

Healthy EBIT to Interest Sep 2022 254.65 49.93
Company has healthy average EBIT to Interest ratio of 49.93 Sep 2021 386.19 76.57
times
Sep 2020 329.49 97.11
Company has experienced a fall in its EBIT to Interest in each Sep 2019 - 100
of the past 3 consecutive years,Company’s EBIT to Interest
growth has fallen in each of the past 3 consecutive years,EBIT
to Interest has seen a high fall of -35.53% over previous period

3
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V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

FINANCIAL TREND
Positive

WITH A GROWTH IN NET PROFIT

results for

OF 134.09%, THE COMPANY 6

DECLARED OUTSTANDING consecutive
quarters

RESULTS IN SEP 22

Near term PBT trend is very

positive 78.05
161.9%
PBT less Other Income (Rs Cr)
PBT Growth At Rs 46.69 cr has Grown at 161.86 %
46.69
34.31
Year on Year (YoY)
17.83
10.21

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022

Near term PAT trend is very

134.1% positive 58.75

43.4
PAT (Rs Cr)
PAT Growth At Rs 43.40 cr has Grown at 134.1 % 33.47

Year on Year (YoY) 18.54

12.39

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022

Near term sales trend is very

positive 590.61
56.0% 514.74

Net Sales (Rs Cr) 397.34

Sales Growth 355.9
At Rs 514.74 cr has Grown at 55.95 % 330.06

Year on Year (YoY)

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022

4
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V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

FINANCIAL TREND

The company has displayed

23.0% increased efficiency by generating 22.95

higher profit on overall capital 12.92

ROCE - Half (equity and debt) 5.03
Yearly
ROCE (%)
Highest at 22.95 % -3.62

in the last five half yearly periods -10.9

Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022

Company is distributing higher

proportion of profits generated as
52.8% dividend
52.84

38.09 40.47
37.75
Dividend Payout
DPR (%)
Ratio (DPR) -
Highest at 52.84 %
Annually
in the last five years
0

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022

Sep'22 Sep'21 Change%

Net Sales 514.7 330.1 56.0%
Key Operating Profit (PBDIT) excl Other Income 71.6 41.8 71.2%
Result Interest 6.9 6.5 6.5%
Highlights Exceptional Items 0.0 0.0
Consolidated Net Profit 43.4 18.5 134.1%
Operating Profit Margin (Excl OI) 13.9 12.7 1.2%
Consolidate- figures in Rs
Cr

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V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

TECHNICALS

STOCK IS TECHNICALLY IN A MILDLY

BULLISH RANGE
Mildly Bullish Daily Moving Averages indicating near term price strength
Current Price 50 Day Moving Average 200 Day Moving Average

705.50 702.92 655.08

Factors with upward momentum

Indicator Technical Trend
MACD Bullish (monthly)
Bollinger Band Bullish (monthly)
Dow Theory Mildly Bullish (weekly)
OBV Mildly Bullish (monthly)

Market Beating Performance in the last one year

3 Months 1 Year 3 Years
1.12%
52.85% 53.03%
25.65%

-2.14% 4.84%

Stock BSE 500 Stock BSE 500 Stock BSE 500

6
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display, perform, modify, create derivative works, transmit, or in any way exploit any such content. Unauthorized usage is an infringement of our intellectual property
rights and a violation of law and it may also result in cancellation of subscription without any refund and may lead to legal action.

V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

SHAREHOLDING

INSTITUTIONAL INVESTORS COLLECTIVELY

HOLD 29.2 % OF THE COMPANY
These investors have better capability and resources 40%

to analyse fundamentals of companies than most

retail investors. 30% 27.55%
29.44% 29.99% 29.64% 29.53% 29.20%

20%

10%

0%
Sep 21 Dec 21 Mar 22 Jun 22 Sep 22 Dec 22

Insurance
Companies
3.89%
FIIs
9.33%
Shareholding Snapshot : Dec 22
Majority shareholders : Promoters
Mutual Fun… Non Institu…
13.39% 19.48% Pledged Promoter Holdings : None

Other DIIs
Mutual Funds : Held in 21.00 Schemes (13.39%)
2.59%
FIIs : Held by 119 FIIs (9.33%)
Promoters
51.32% Promoter with highest holding : D G P Securities Limited (25.86%)
Highest Public shareholder : Uti-mid Cap Fund (2.35%)
Individual Investors Holdings : 13.64%

FII
10% 9.33%
8.84% 8.95%
8.63%

holding has increased by 0.38% 7.5%

5.84%
Number of FIIs holding stake in the company has
increased to 119 from 109 5%

2.5%

0%
Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022

7
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display, perform, modify, create derivative works, transmit, or in any way exploit any such content. Unauthorized usage is an infringement of our intellectual property
rights and a violation of law and it may also result in cancellation of subscription without any refund and may lead to legal action.

V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

MOJOSTOCK

PART OF MOJO STOCKS

Mojo Stocks are the highest rated stocks across thee market.
1% Less than 1% of the companies qualify as a Mojo Stock
For a company to Qualify as Mojo Stock it has to score highly across Mojo Parameters of
QUALIFY
Quality: Long Term Fundamental Performance
Valuation: Attractiveness of Stock Price at the current fundamentals
Financial Trend: Near term fundamental strength
Technicals: Price and volume momentum

Mojo Analysis of V I P Inds.

NEAR TERM DRIVERS: VERY POSITIVE

QUARTERLY FINANCIAL TREND TECHNICALS

Net Sales (HY) At Rs 1,105.35 cr has Technical trend turned Mildly

Grown at 106.12 % Bullish from Bullish on 16 Dec
Outstanding PAT (HY) At Rs 102.15 cr has Grown
2022 at Rs 713 Mildly
at 384.79 % Moving Averages (daily) turned Bullish
Bullish from Mildly Bullish on 24
Net Sales (9M) At Rs 1,461.25 cr has
Jan 2023 at Rs 705.5
Grown at 87.52 %

LONG TERM DRIVERS: MILDLY POSITIVE

QUALITY VALUATION

Size - Ranks 6th out of 15 companies At the current stock price and
in Consumer durables sector financial performance the stock
Good has Expensive valuation Expensive

8
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display, perform, modify, create derivative works, transmit, or in any way exploit any such content. Unauthorized usage is an infringement of our intellectual property
rights and a violation of law and it may also result in cancellation of subscription without any refund and may lead to legal action.

V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

RETURNS

MARKET BEATING PERFORMANCE

The stock has generated 100%
a return of 25.65% in the 50%
last 1 year, much higher
25.65% than market (BSE 500) 0%

returns of 4.84% -50%

UP -100%

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V I P Industries Ltd BSE500

Inconsistent Performance against Mid Cap

companies
V I P Industries Ltd has not been a consistent
performer in the last 1 year

1st
Quartile
2ndQuartile
3rd
Quartile
Stock has been in the 2nd quartile in 2022
and in 1st in 1Y period

1Y 2022 2021
5.64% 24.16% 47.51%

Company 1 Month 3 Month 1 Year 3 Years

V I P Inds. 6.51% -2.14% 25.65% 52.85%
Return
Metro Brands -1.86% -8.61% 35.16% -
Comparison
with Peers Relaxo Footwear -7.91% -16.66% -36.7% 18.23%
Closest peers by Bata India -3.18% -13.32% -18.51% -14.9%
market cap
Bajaj Electrical -0.65% -1.92% -1.59% 199.37%

9
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rights and a violation of law and it may also result in cancellation of subscription without any refund and may lead to legal action.

V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

FACTORS
NOT WORKING
FOR THE COMPANY


10
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V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

GROWTH

POOR LONG TERM GROWTH AS NET SALES

HAS GROWN BY AN ANNUAL RATE OF
7.19% AND OPERATING PROFIT AT 6.51%
OVER THE LAST 5 YEARS

Poor Growth in Net Sales 2000Cr 1,841 1,858

of 7.2% CAGR
7.2%
1,620

1500Cr
Net Sales has seen a high growth of
CAGR 83.78% over previous period 1,011
1000Cr 884

500Cr

0Cr
Sep 2018 Sep 2019 Sep 2020 Sep 2021 Sep 2022

Poor Growth in Operating 300Cr

Profit of 6.5% CAGR

6.5%
228 219
193
200Cr
Operating Profit has seen a high
CAGR growth of 3960% over previous period
100Cr

0Cr
-5

-63
-100Cr
Sep 2018 Sep 2019 Sep 2020 Sep 2021 Sep 2022

Net Profit of 8.2% CAGR 200Cr

158

8.2%
148 148
Net Profit has seen a high growth of 150Cr
1380% over previous period
CAGR 100Cr

50Cr
10
0Cr

-50Cr
-42
Sep 2018 Sep 2019 Sep 2020 Sep 2021 Sep 2022

11
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display, perform, modify, create derivative works, transmit, or in any way exploit any such content. Unauthorized usage is an infringement of our intellectual property
rights and a violation of law and it may also result in cancellation of subscription without any refund and may lead to legal action.

V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

VALUATION

WITH ROCE OF 21.4, IT HAS A EXPENSIVE

VALUATION WITH A 11.3 ENTERPRISE
VALUE TO CAPITAL EMPLOYED
Expensive

Expensive Campus Activewe.

valuation
Sheela
V I P Inds.
Foam

Valuation Bajaj Electrical

V-Guard Industri

as compared to its Fundamentals

Attractive
Weak Fundamental Strong

Enterprise value to Capital Employed vs ROCE

Very 80 24
Fundamental

Valuation
Attractive 0

-80
12

as compared to its
8

1
18

19

20

21

23
01

01

02

02
20

20

20

20

past valuations

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Company Valuation Price to Book PE Ratio PEG Ratio Dividend

Ratio Yield
Key
Valuation V I P Inds. Expensive 15 67.5 0.1 0.7%

Multiples Bajaj Electrical Fair 7.4 65.5 37.4 0.3%

vs Peers Sheela Foam Expensive 8.1 57.2 0 0%
Campus Activewe. Very Expensive 37.1 272.5 0 0%
V-Guard Industri Attractive 7.4 45.2 12.5 0.5%

12
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rights and a violation of law and it may also result in cancellation of subscription without any refund and may lead to legal action.

V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

RESULT
ANALYSIS 

13
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display, perform, modify, create derivative works, transmit, or in any way exploit any such content. Unauthorized usage is an infringement of our intellectual property
rights and a violation of law and it may also result in cancellation of subscription without any refund and may lead to legal action.

V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

QUARTERLY VARIANCE

QUARTER RESULTS VARIANCE ANALYSIS

Sep'22 Jun'22 QoQ Sep'21 YoY Comments
Total Operating income 515 591 -12.9% 330 56%
Total Expenditure (Excl Depreciation) 443 488 -9.2% 288 53.7%
Operating Profit (PBDIT) excl Other Income 72 103 -30.2% 42 71.2%
Other Income 5 7 -25.1% 7 -21.6% Fall in previous quarter and same
quarter last year
Operating Profit (PBDIT) 77 110 -29.9% 49 58.3%
Interest 7 7 5.8% 7 6.5% High Growth in previous quarter
and same quarter last year
Exceptional Items 0 15 -100% 0 0%
Depreciation 18 18 -0.3% 17 2.8%
Profit Before Tax 52 100 -48.1% 25 111.6%
Tax 9 31 -72.4% 6 42.4%
Provisions and contingencies 0 0 0% 0 0%
Net Profit 43 69 -37.2% 19 134.1%
Share in Profit of Associates 0 0 0% 0 0%
Minority Interest 0 0 0% 0 0%
Other related items 0 0 0% 0 0%
Consolidated Net Profit 43 69 -37.2% 19 134.1%

Consolidate results triggered in Rs Cr

Margins
Sep'22 Jun'22 Mar'22 Dec'21 Sep'21 Avg. (4 Comments
Qtrs)
OPM 13.9% 17.4% 9.2% 14.4% 12.7% 13.4% In line with average (4 Qtrs)
GPM 13.6% 20.0% 9.3% 15.4% 12.7% 14.4% In line with average (4 Qtrs)
NPM 8.4% 11.7% 3.5% 8.4% 5.6% 7.3% Higher than average (4 Qtrs) – Promising

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rights and a violation of law and it may also result in cancellation of subscription without any refund and may lead to legal action.

V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

ANNUAL RESULT

NET SALES - YOY GROWTH IN YEAR ENDED

MAR 2022 IS 108.47% VS -63.92% IN MAR
2021
Consolidated Net Profit: YoY Growth in year ended Mar 2022 is 168.65% vs -187.25% in
Mar 2021
Operating Profit (PBDIT) excl Other Income: YoY Growth in year ended Mar 2022 is
321.23% vs -122.18% in Mar 2021
Interest: YoY Growth in year ended Mar 2022 is -17.18% vs 29.35% in Mar 2021 108.47%
Operating Profit Margin (Excl OI): YoY Growth in year ended Mar 2022 has improved from NET SALES
Mar 2021

Mar'22 Mar'21 Change(%)

Net Sales 1,289.51 618.56 108.47%
Key Operating Profit (PBDIT) excl Other Income 144.40 -65.27 321.23%
Annual Interest 24.64 29.75 -17.18%
Results Exceptional Items 0.00 0.00

Consolidated Net Profit 66.93 -97.49 168.65%

Operating Profit Margin (Excl OI) 11.20 -10.55 21.75%
Figures in Rs Cr | Seasonal companies are compared with the same quarter last year

Net Sales-YoY Growth in year ended Mar 2022 is 108.47% vs - Consolidated Net Profit-YoY Growth in year ended Mar 2022
63.92% in Mar 2021 is 168.65% vs -187.25% in Mar 2021
2000 1,784.66 1,714.35 200 145.27
126.75 111.73
1,416.34 66.93
1,289.51

1000 0
618.56

-97.49
0 -200
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022

Operating Profit (PBDIT) excl Other Income-YoY Growth in Operating Profit Margin (Excl OI)-YoY Growth in year ended
year ended Mar 2022 is 321.23% vs -122.18% in Mar 2021 Mar 2022 has improved from Mar 2021
500 20 17.16
13.65 12.59
294.22 11.20
193.37 224.72
250 144.40
0
0
-65.27 -10.55
-250 -20
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022

Figures in Rs Crore

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display, perform, modify, create derivative works, transmit, or in any way exploit any such content. Unauthorized usage is an infringement of our intellectual property
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V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

BALANCESHEET AND CASHFLOW

BALANCE SHEET AND CASH FLOW

ANALYSIS

-20.17% Borrowings
Mar'22
122.70
Mar'21
153.70
Change%
-20.17%

Increase
Other Long Term Liabilities 139.39 163.00 -14.48%
Fixed Assets 106.72 99.08 7.71%
Investments 3.09 3.12 -0.96%
in Borrowings in quarter Current Assets 900.25 738.31 21.93%
ended Mar 2022 vs in
Figures in Rs Cr
Mar 2021

Other Long Term Liabilities: YoY Growth in year ended Mar 2022 is -14.48% vs -10.86% in Mar 2021
Fixed Assets: YoY Growth in year ended Mar 2022 is 7.71% vs -26.22% in Mar 2021
Investments: YoY Growth in year ended Mar 2022 is -0.96% vs 14.71% in Mar 2021
Current Assets: YoY Growth in year ended Mar 2022 is 21.93% vs -10.87% in Mar 2021

Cash From Operation - YoY Growth in year ended Mar

-127.83% 2022 is -127.83% vs -70.86% in Mar 2021
Mar'22 Mar'21 Change%
GROWTH Cash Flow from Operating Activities -23.68 85.09 -127.83%
Figures in Rs Cr

400
291.97

200
85.19 85.09

0
-23.68
-55.92

-200
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022

16
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V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

PEER COMPARISION

PEER COMPARISON
V I P Inds. Campus V-Guard Hindware Home Mirza Internatio
Activewe. Industri In
Size
Market Cap (Cr.) 9,991 11,814 10,837 3,044 2,954
Annual Sales (TTM) (Cr.) 1,859 1,315 4,030 2,728 2,000
Annual Net Profit (TTM) (Cr.) 148 43 240 100 148
Growth Factors (TTM)
Net Sales Growth 1 year 83.7% 0.7% 27.4% 28.4% 49.4%
Operating Profit Growth 1 year 3512.9% 224% -7.8% 11.7% 128.6%
Net Profit Growth 1 year 1338.4% 363% 4.1% 13.9% 133.8%
Net Sales Growth 5 year 7.2% 44.1% 14.6% 38.6% 18.3%
Operating Profit Growth 5 year 6.5% 24.1% 5.7% 221.9% 37.6%
Net Profit Growth 5 year 8.2% -15.2% 5.3% 292.3% 63.7%
Capital Structure Factors
EBIT to Interest 8 4.4 43 3.8 9.3
Debt to EBITDA 1.1 2.2 0.3 4.4 0.3
Net Debt to Equity 0.4 0.9 -0.1 1.8 0.1

Sales to Capital Employed 2.1 2.2 2.9 1.8 2.2

Management Quality Factors
ROCE (latest) 21.4% 13.2% 21.5% 10.4% 25.7%
ROE(latest) 22.2% 13.6% 16.4% 18.1% 17.6%
Tax Ratio 25.2% 32.5% 21.1% 30.7% 27.3%
Operating CF to Net Profit -35.4% 41.2% -17% 223.3% 171.3%
Dividend Payout Ratio 52.8% - 24.6% 1.8% -
Valuation Factors
PE Ratio 67.5 272.5 45.2 30.4 20
Price to Book 15 37.1 7.4 5.5 3.5
PEG Ratio 0.1 - 12.5 2.2 0.1
Dividend Yield 0.7% - 0.5% - -
EV to EBITDA 38.7 92.7 30.5 17.6 10.3
EV to Capital Employed 11.3 19.9 7.8 2.6 3.4
Shareholding
Promoter Holdings 51.3% 74% 55.8% 51.3% 68.2%
Promoter Pledged Holdings - - - - -
Total Institutional Holding 29.2% 12.7% 31.8% 11.6% 7.6%
FII Holdings 9.3% 6.2% 12.9% 4.4% 3.1%
Returns
1 Month 6.5% 1% -3.8% 8.6% 7.8%
3 Months -2.1% -34.7% -0.2% 16.3% -27.7%
YTD 5.6% -6.4% -4% -5.2% -1%
1 Year 25.7% - 15.9% 10.8% 76.2%
3 Years 52.9% - 9.9% 151.6% 298.9%

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This research report has been created by www.marketsmojo.com exclusively for Mojo Professional Subscribers. You may not copy, reproduce, distribute, publish,
display, perform, modify, create derivative works, transmit, or in any way exploit any such content. Unauthorized usage is an infringement of our intellectual property
rights and a violation of law and it may also result in cancellation of subscription without any refund and may lead to legal action.

V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

COMPANY BACKGROUND

COMPANY BACKGROUND

About the Company

VIP Industries Limited is amongst Asia's leading manufacturers and suppliers of
INDUSTRY : Consumer luggage, backpacks, and handbags and the market leader in the organised luggage
durables segment. The Company has a range of leading brands, positioned across the entire
price range, catering to value (Aristocrat), mid (VIP, Skybags), and premium
(Carlton, Caprese) price points. Promoted by Mr.
9,927 cr (Mid Cap)

Part of NIFTY FREE

SMALL 100

Board of Directors
Dilip G Piramal Chairman (Non-Executive)

Radhika Piramal Vice Chairperson & ED

Amit Jatia Non-Exec. & Independent Dir.

Anand Daga Company Secretary

Nisaba Godrej Non-Exec. & Independent Dir.

3 more board of directors

Company Coordinates

Company Details: Registrat Details:

5th Floor, D G P House, 88 C, Old Prabhadevi Road, Mumbai Link Intime India Pvt Ltd, C-13 Pannalal Silk Compound, L B S
Maharashtra : 400025 Marg, Bhandup , Mumbai
Tel: 022 66539000 Fax: 91-022-25946979/91-022-25960329
Fax: 022 66539089 Email: helpdesk@linkintime.co.in
Email: investor-help@vipbags.com
Website: www.vipindustries.co.in

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This research report has been created by www.marketsmojo.com exclusively for Mojo Professional Subscribers. You may not copy, reproduce, distribute, publish,
display, perform, modify, create derivative works, transmit, or in any way exploit any such content. Unauthorized usage is an infringement of our intellectual property
rights and a violation of law and it may also result in cancellation of subscription without any refund and may lead to legal action.

V I P Inds. BUY | Report as on 25 January 2023 at 08:58 AM

DISCLAIMER

DISCLAIMERS
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