VIP Industries Ltd - Stock Valuation and Financial Performance

BSE: 507880 | NSE: VIPIND | Household & Personal Products | Small Cap

VIP Inds. Share Price

523.80 -9.00 -1.69%
as on 15-Apr'24 15:30

DeciZen - make an informed investing decision on VIP Inds.

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

VIP Industries stock performance -

mw4me loader
P/E Ratio (CD):
102.32
Market Cap:
7,563.5 Cr.
52-wk low:
449.4
52-wk high:
722.7

Is VIP Industries Ltd an attractive stock to invest in?

1. Is VIP Industries Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that VIP Industries Ltd is a good quality company.

2. Is VIP Industries Ltd undervalued or overvalued?

The key valuation ratios of VIP Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is VIP Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of VIP Industries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of VIP Inds.:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
VIP Industries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 17.1%14.4%20.2%22.5%28.6%26.3%25.6%-12.6%12.8%27%-
Value Creation
Index
0.20.00.40.61.01.00.9-1.9-0.11.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 9731,0481,2161,2521,4101,7851,7146191,2902,0822,179
Sales YoY Gr.-7.7%16.1%2.9%12.6%26.6%-3.9%-63.9%108.5%61.5%-
Adj EPS 3.43.14.85.9910.610.6-7.44.812.85.2
YoY Gr.--9.3%52.9%24.5%50.8%18.1%0.2%-169.4%NA166.3%-
BVPS (₹) 20.321.62428.934.641.14336.338.944.450.9
Adj Net
Profit
48.644.167.584127149150-10468.118174
Cash Flow from Ops. 50.313.653.412785.2-55.929285.1-23.7175-
Debt/CF from Ops. 0.32.30.300-1.50.11.8-5.21-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.8%8.1%6.7%61.5%
Adj EPS 15.7%7.4%6.5%166.3%
BVPS9.1%5.1%1.1%14.3%
Share Price 17.3% 1.8% 16.8% -12.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
17.814.920.922.528.327.925.1-18.512.630.210.9
Op. Profit
Mgn %
8.77.69.210.613.91317.7-10.211.615.811.5
Net Profit
Mgn %
54.25.66.798.48.7-16.85.38.73.4
Debt to
Equity
0.10.10000.20.10.30.20.3-
Working Cap
Days
137132136135133153168416254201103
Cash Conv.
Cycle
59616763567264143876436

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 10.90%

Sales growth is good in last 4 quarters at 11.05%

Sales growth has been subdued in last 3 years 6.70%

Net Profit has been subdued in last 3 years 6.52%

Latest Financials - VIP Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 1.9 5.2
TTM Sales (₹ Cr.) 2,141 2,179
BVPS (₹.) 45.8 50.9
Reserves (₹ Cr.) 621 694
P/BV 11.65 10.47
PE 277.36 102.32
From the Market
52 Week Low / High (₹) 449.40 / 722.70
All Time Low / High (₹) 2.81 / 774.50
Market Cap (₹ Cr.) 7,563
Equity (₹ Cr.) 28.4
Face Value (₹) 2
Industry PE 55.3

Management X-Ray of VIP Inds.:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of VIP Inds.

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales9731,0481,2161,2521,4101,7851,7146191,2902,082
Operating Expenses 8919691,1071,1191,2151,5581,4186831,1431,766
Manufacturing Costs232224214977814484110
Material Costs532573663676687878785354621985
Employee Cost 93110126140159201210138189236
Other Costs 242264294282320402342148250435
Operating Profit 8279110132195226296-64146317
Operating Profit Margin (%) 8.5%7.5%9.0%10.6%13.8%12.7%17.3%-10.4%11.3%15.2%
Other Income 3331010913493617
Interest 43332425312631
Depreciation 17181414131787787074
Exceptional Items 1640000-4900-32
Profit Before Tax 806595126190215148-12586197
Tax 22192940637037-271944
Profit After Tax 58476685127145112-9767152
PAT Margin (%) 5.9%4.4%5.5%6.8%9.0%8.1%6.5%-15.8%5.2%7.3%
Adjusted EPS (₹)4.13.34.76.09.010.37.9-6.94.710.8
Dividend Payout Ratio (%)42%45%43%40%33%31%40%0%53%42%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 287306339408489580607512550629
Share Capital 28282828282828282828
Reserves 259277311380461552579484521601
Minority Interest0000000000
Debt163114008632154123181
Long Term Debt0000000000
Short Term Debt163114008632154123181
Trade Payables99119161145212318291154282309
Others Liabilities 454166506682306528547608
Total Liabilities 4484965816037671,0661,2371,3481,5021,726

Fixed Assets

Gross Block29227727973106161501480519526
Accumulated Depreciation207205212133047132194256219
Net Fixed Assets8571676076115368286263307
CWIP 11113632715
Investments 00068721411414223
Inventories176227287283317527448302518587
Trade Receivables95111149121177299267148219255
Cash Equivalents 118811231411912136
Others Assets807868619910598378433502
Total Assets 4484965816037671,0661,2371,3481,5021,726

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 50145312785-5629285-24175
PBT 806595126190215148-12586197
Adjustment 11315109131297489126
Changes in Working Capital -8-43-3030-49-21155139-190-96
Tax Paid -22-21-27-39-64-73-40-3-9-52
Cash Flow From Investing Activity -2-3-8-73-2916-85-145146-84
Capex -13-4-9-8-30-59-4416-34-106
Net Investments 1000-68-471-41-16416920
Others 11035402111
Cash Flow From Financing Activity -49-14-45-51-4431-21174-126-75
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -24000000000
Interest Paid -1-1-1-10-1-3-6-30-30
Dividend Paid -24-28-22-31-36-45-730-35-64
Others 015-21-20-777-13580-6020
Net Cash Flow -1-30213-9-414-316
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)21.1715.7220.6122.8128.2627.1718.82-17.4212.6125.85
ROCE (%)27.8721.4328.4933.6842.7937.8326.51-14.2916.6330.29
Asset Turnover Ratio2.122.252.292.212.121.981.640.5611.41
PAT to CFO Conversion(x)0.860.30.81.490.67-0.392.61N/A-0.361.15
Working Capital Days
Receivable Days373539383748551064738
Inventory Days5969768075859419010589
Payable Days5970757990107140229128109

VIP Industries Ltd Stock News

VIP Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of VIP Inds. on 15-Apr-2024 15:30 is ₹523.8.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 15-Apr-2024 15:30 the market cap of VIP Inds. stood at ₹7,563.5.
The latest P/E ratio of VIP Inds. as of 15-Apr-2024 15:30 is 277.4.
The latest P/B ratio of VIP Inds. as of 15-Apr-2024 15:30 is 11.65.
The 52-week high of VIP Inds. is ₹722.7 and the 52-week low is ₹449.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of VIP Inds. is ₹2,141 ( Cr.) .

About VIP Industries Ltd

VIP Industries Ltd. incorporated in 1968. The very first VIP Suitcase was manufactured in the year 1971. Since then, VIP Industries has sold over 100 million pieces of luggage to people around the world and have subsequently become the foremost manufacturer of hard and soft luggage in Asia, with a goal to make travelling simple. VIP manufactures an array of products and provides numerous different services with an aim to make travel simple and convenient for millions of people around the world.

There products and services are carefully designed to help people experience the delight of travelling. A team of professional, skilled designers constantly innovate and explore new technological aspects and materials to craft luggage which is at-par with the world’s highest standards. The Product Portfolio of VIP Industries consists of a diverse range of hard-sided and soft-sided luggage. The luggage range includes strollys, suitcases, duffel-bags, backpacks, executive cases, overnight travel solutions and school bags. VIP Industries is the parent of many renowned brands like VIP, Aristocrat, Alfa, Footloose, Skybags and Carlton which cover the entire spectrum of travel products. The company's manufacturing facilities are located at Nashik, Nagpur, Jalgaon, Satara, Sinnar in Maharashtra and Haridwar in Uttaranchal.

Business area of the company

The company is engaged in the business of manufacturing of luggage bags. It manufactures moulded luggage (from high-density polyethylene), soft luggage (from nylon, polyester, jupolene, printed polyester) and ABS luggage (from acrylonitrile butadiene styrene plastic).

Brands of the company

  • CARLTON
  • VIP BAGS
  • SKYBAGS
  • CAPRESE
  • ARISTOCRAT
  • ALFA

Products of the company

The Company's products include briefcases, suitcases, handbags, carry bags and vanity cases.

Awards and recognitions

  • 1997: The Industrial Safety and Health Council presented VIP Industries with The Safety Award.
  • 1997: The Ministry of Science and Technology awarded VIP Industries with an award in recognition of their in-house Unit by R&D, by DSIR.
  • 1998: VIP Industries was presented with the award for 'Best Paper Value Engineering - Invest' by the Indian Value Engineering Society.
  • 1999: VIP Industries are the proud winners of the NIMA Excellence Award conferred upon by 'Nasik Industries Manufacturers Association.'
  • 2000: The Nasik Industries Manufacturers Association (NIMA) awarded VIP Industries with an award for 'Excellent Display - Nima Index 2000'.
  • 2000: 'Indian Value Engineering Society' bestowed VIP Industries with the second place for presenting a paper, titled, 'A Case Study on Optimization Cost and Enhance Aesthetics of PVC Outer Strips'.
  • 2000: 'Council of EU Chamber of Commerce' presented VIP Industries with the 'European Union Impresa Award for Export Performance.'
  • 2000: Lakshya Award (2000)- VIP Industries are the proud winners of the prestigious Lakshya Award from NITIE (National Institute of Industrial Engineering) for 'Best Project' in the field of 'Supply Chain Management' in the year 2000.
  • 2000: The Lakshya Award is considered to be esteemed, as it is conferred upon visionaries and is a recognition of those who have helped to revolutionize the future of the Indian business setting.
  • 2001: Gold Peacock National Quality Award (2001), Golden Peacock Awards are regarded as the benchmark for corporate excellence all over the world. VIP Industries was presented with this significant award in the year 2001, for achieving 'Total Quality Management'.
  • 2001: Lakshya Award (2001), VIP Industries was the proud receiver of the Lakshya award, yet again in the year 2001. They were lauded for their efficient and superior manufacturing over a large scale.
  • 2001: This award is the testimony of VIP's innovative and productive business setting.
  • 2002: Lakshya Award (2002), VIP The ability to understand everyday demands and fulfil the same with optimized cost plays a crucial role in the manufacturing industry. In 2002, VIP Industries was bestowed upon with the prestigious Lakshya Award in the 'On The Job Achievers' segment for presenting the best project in 'Supply Chain Management Module.'
  • 2003: Rajiv Gandhi National Quality Award (2003), VIP Industries were the joint winners of the 'Rajiv Gandhi National Quality Award' in 2003, for being one of the best Large Scale Manufacturing Industries in India.
  • 2004: Lakshya Award (2004), Lakshya Award is a unique endeavour by NITIE (National Institute of Industrial Engineering) bestowed upon in the honour of corporate excellence.
  • 2004: VIP Industries were awarded the second place for the 'Best Project' segment in the 'On The Job Achievers' category.
  • 2004: Golden Peacock Award (2004), In 2004, VIP Industries were conferred with the Golden Peacock Award for Innovation.
  • 2016: VIP Industries Limited won the India Design Mark (i-Mark) award for Carlton - Hampton 3 Laptop backpack.
  • 2016: Brand Caprese awarded with best brand award in ‘Bags & Accessories’ category by Shoppers Stop.
  • 2016: VIP Industries Ltd was awarded the ‘Regional Best Employer 2016-17’ by World HRD Congress.
  • 2017: Flipkart awarded Brand Skybags as the ‘Best Performing Brand in Travel Category’ for the year 2016-17.
  • 2017: VIP Industries Limited was awarded the ‘Supply Chain Champion for the Year’ by Metro Cash & Carry.
  • 2017: VIP Industries Limited won the India Design Mark (i-Mark) award for VIP Tube.
  • 2018: Brand Skybags & Caprese won the ‘Best Brand Award’ from Flipkart for the year 2017-18.
  • 2018: VIP Industries Limited won the India Design Mark (i-Mark) award for 5 products - Skybags AER Plus DF & DFT; VIP Centaur DFT; Carlton Duo-Tone, Helium & Dublin.
  • 2019: VIP Industries won the India Design Mark (i-Mark) award for Carlton Insignia and Regalia; VIP Zenlite and Modulus; Skybags Vulcan Weekender Backpack and Boom DFT.
  • 2019: Carlton Edge was awarded with the ‘Best TVC Award’ in the consumer durables category by Exchange4Media.
  • 2019: VIP Industries Limited won the ‘People Matters Total Rewards Award 2019’ for ‘Best in Driving Culture of Hyper Productivity’.
  • 2019: VIP Industries Limited won the ‘People Matters L&D Award 2019’ for Best in Leadership Transformation.
  • 2019: VIP Industries Limited won the ‘Economic Times India’s Best Workplaces in Manufacturing Award 2019’.
  • 2020: VIP Industries Limited won the CFBP (Council for Fair Business Practices) award in the Category ‘Manufacturing Enterprises - Large’ for the year 2019-20.

Milestones

  • 1968: VIP Industries was incorporated.
  • 1971: The company’s manufacturing facility located at Nasik was commissioned.
  • 1982: Manufacturing facility located at Jalgoan was commissioned.
  • 1983: The company introduced NR mechanism under which the luggage will not open in upside down position. 
  • 1986: The company set up a manufacturing facility in Nagpur. The same year the company introduce padded handle for better grip.
  • 1989: The company introduced advance locking system -- dual action lock. VIP also launched its brand ‘Alfa’.
  • 1993: VIP set up a manufacturing facility located at Sinnar.
  • 1995: The company introduced Heat Sealing Method wherein it manufactured moulded luggage (No Metal Frame) having inside fabric lining.Company also introduced Dual Material Dimpled Bumper that allows rough usage of luggage.
  • 1996: It introduced the corner lock feature.
  • 1998: Vertical Access Feature was launched allows user to open the luggage in order to access documents in vertical condition.
  • 2000: It launched the brand ‘Delsey’. The company launched Convipack-a soft luggage inside a hard luggage. The same year the company introduced cable lock 
  • 2001: The company introduced center locking mechanism -- a single locking actions locks all the multiple latches. Rolling Scratch Guard was launched in order to avoid scratch marks.
  • 2002: The company introduced luggage with Paper frame and handle locking mechanism.
  • 2003: VIP launched FM radio in luggage. 
  • 2004: The company acquired Carlton MEA, Hong Kong. The company has presence in 65 countries with a design studio located in London and regional offices in Dubai and Hong Kong.
  • 2010: VIP Introduces 'Superlite' - lightweight bags that enable you travel easier and pack more without the fear of paying excess baggage fees.
  • 2011: VIP ushers in the four wheeling revolution in india with the launch of its 360 wheeling range.
  • 2012: Manufacture of printed PC cases.
  • 2013: Caprese Launch.
  • 2014: Bangladesh Plant.
  • 2020: VIP Industries has raised Rs 50 crore through listed, secured, rated, redeemable, Non-Convertible Debenture (NCDs) on Private Placement basis.
  • 2020: VIP Industries Limited got recognized as a ‘Bronze’ employer in the IWEI’s (India Workplace Equality Index) Top Employers for 2020.
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