VIPINDConsumer Durables

VIP Industries Limited

Plastic Products - Consumer · ISIN INE054A01027 · BSE 507880 · NSE EQ · FV ₹2
Last price
₹304
+2.22%today
What this company does

VIP Industries Limited operates in Plastic Products - Consumer, part of the Consumer Durables sector. It booked ₹578 cr of revenue in its latest quarter (Q1 FY27) and kept -9.3% of sales as profit. It is the 3rd largest of 8 Plastic Products - Consumer companies we track, by market value.

Their stated vision

to be the global leader in the travel products business, we entered the travel accessories space – broadening our portfolio while staying rooted in our core promise of travel readiness.

In the report:
19out of 100
Equitytale Health Score
Fragile

Healthier than 19% of companies in Consumer Durables, on all six measures of filed financials. Each measure is ranked against the 30–41 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
50

At close. Not part of the score.

Profitability & returns0

How much profit it earns on the money it employs · lowest in its sector on what we could measure

Balance sheet0

How much it owes, and whether earnings cover the interest · lowest in its sector on what we could measure

Cash quality28

Whether reported profit actually arrives as cash

Growth & consistency23

Whether sales and profit have grown, and how steadily

Valuation8

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Some things to watch
Strengths
Promoters hold 42%
No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -9.3% net margin
! Low -74.0% return on equity
! Carries high debt (D/E 1.4)

What if I invest in VIPIND?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹304 +2.22%
latest close · 2026-09-17
1-year return
-35.2%
52-wk low ₹28752-wk high ₹775
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio14.93High
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-74.0%Loss
WeakFairStrong ▸15%
Return on capital-26.9%Loss
WeakFairStrong
Net margin-9.3%Loss
ThinDecentStrong
EBITDA margin-1.2%Loss
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.42High
LowModerateHigh ▸1
Interest cover-2.4×Risky
RiskyOkayStrong ▸5×
Current ratio0.96Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹4,322 cr
Book value
₹20
EPS
₹-3.77
latest quarter
Net debt
₹379 cr
owes more than its cash
Enterprise value
₹4,701 cr
EBITDA
₹-28 cr
annualised
EBIT
₹-154 cr
annualised
Operating margin
-6.7%
Return on assets
-13.4%
Earnings yield
P/S
1.87
Sales / share
₹162.9
Tax rate
Face value
₹2
Shares
14.2 cr
Working capital
₹-41 cr
Current assets
₹992 cr
Current liabilities
₹1,033 cr
Delivery %
54.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹116₹149, midpoint ₹133

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹578 cr
Other Income₹4 cr
Total Income₹582 cr
Cost of Materials₹223 cr
Purchases of Stock-in-Trade₹82 cr
Inventory Change (±)₹34 cr
Employee Benefit Expense₹64 cr
Finance Costs₹16 cr
Depreciation & Amortisation₹31 cr
Other Expenses₹187 cr
Total Expenses₹637 cr
Profit before Tax₹-55 cr
Tax Expense₹-1 cr
Net Profit₹-54 cr
Net margin on total income-9.2%
Where the money goes · Q1 FY27
% of total spend
Materials + stock-in-trade₹339 cr53.2%
Employee benefit expense₹64 cr10.0%
Finance costs₹16 cr2.5%
Depreciation & amortisation₹31 cr4.9%
Other expenses₹187 cr29.4%
Total income ₹582 cr

The company made a net loss of ₹54 cr this quarter — income covered only 91 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue454 cr436 cr578 cr
Total income457 cr440 cr582 cr
Expenses579 cr569 cr637 cr
Profit before tax-50 cr-129 cr-55 cr
Tax3 cr10 L-1 cr
Net profit (owners' share)-53 cr-129 cr-54 cr
Net margin (owners' share, on revenue)-11.6%-29.5%-9.3%
EPS (₹)-3.72-9.07-3.77
YoY (latest quarter): total income +2.9% · net profit
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹1,604 cr
Shareholder equity
₹290 cr
parent shareholders
Total debt
₹411 cr
Cash
₹32 cr
Cash flow · H1 FY26
Operating
₹63 cr
Investing
₹-27 cr
Financing
₹-44 cr
Peer comparison
Plastic Products - Consumer · by market value
CompanyPriceMarket capP/E
Shaily Engineering Plastics Limited₹3,107₹14,293 cr
Safari Industries (India) Limited₹1,511₹7,402 cr38.8
VIP Industries Limitedthis company₹304₹4,322 cr
Nilkamal Limited₹1,917₹2,861 cr29.4
PIL ITALICA LIFESTYLE LIMITED₹8₹182 cr193.8
AVRO INDIA LIMITED₹8₹105 cr39.2
Tokyo Plast International Limited₹76₹72 cr
Pearl Polymers Limited₹17₹28 cr3.0
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹2
ex 7 Feb 2024
ActionDetailEx-date
Dividend₹2 / share7 Feb 2024
Dividend₹2 / share2 Feb 2023
Dividend₹2.5 / share3 Nov 2022
Dividend₹2.5 / share8 Mar 2022
Dividend₹3.2 / share24 Feb 2020
Dividend₹2 / share19 Jul 2019
Who owns it · 2026-06-30
No pledge
Promoter
42.4%
FII / Foreign
5.2%
DII / Domestic
16.6%
Retail / others
35.8%
Promoter stake down 8.9% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtAtul Jain · Director3,143 · ₹11.2 L20 Feb 26
BoughtMultiples Private Equity Fund IV · Promoters8,049 · ₹31.2 L19 Nov 25
BoughtMultiples Private Equity Gift Fund IV · Promoters8,876 · ₹34.4 L19 Nov 25
Bulk / block deals
short · NSE19 Sep 26
short · NSE8526 Aug 26
short · NSE1,25012 Jun 26
Stake changes
SoldKemp & Company Ltd, · promoter→ 0.01% · 33.43 L24 Dec 25
SoldDGP Securities ltd · promoter→ 17.07% · 1.41 cr24 Dec 25
SoldKIddy Plast Ltd, · promoter→ 0.01% · 22.26 L24 Dec 25
What shareholders were asked to approve
3 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 21 Aug 2026
See the official result
1
To receive, consider, and adopt a. the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with the Report of Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
2.63 cr votes for, 1,172 against · 0% of mutual funds and other big investors said no
2
To appoint a Director in place of Mr. Sridhar Sankararaman (DIN: 06794418), Non-Executive, Non- Independent Director, who retires by rotation and being eligible, seeks re-appointment.
Backed by 100% of shareholders other than promotersneeded 50%
2.63 cr votes for, 1,348 against · 0% of mutual funds and other big investors said no
3
Appointment of M/s. Deloitte Haskins & Sells Chartered Accountants LLP, Chartered Accountants (Firm Registration No: 117364W/W100739) as the Statutory Auditors of the Company.
Backed by 100% of shareholders other than promotersneeded 50%
2.63 cr votes for, 1,209 against · 0% of mutual funds and other big investors said no
4
Approval for waiver of recovery of excess managerial remuneration paid to Ms. Radhika Piramal, Former Executive Director for the Financial Year 2025-26 (upto September 23, 2025)
Promoters had a personal stake in this
Backed by 89% of shareholders other than promotersneeded 75%
2.33 cr votes for, 29.66 L against · 11% of mutual funds and other big investors said no
5
Approval for waiver of recovery of excess managerial remuneration paid to Ms. Neetu Kashiramka, Former Managing Director, for the Financial Year 2025-26 (upto September 23, 2025)
⚑ Passed only because promoters voted yes
Backed by 75% of shareholders other than promotersneeded 75%
1.96 cr votes for, 66.42 L against · 25% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 12 named members
owning 42.4% between them · as of 2026-06-30
DGP Securities Limited17.07%
Multiples Private Equity Gift Fund Iv12.02%
Multiples Private Equity Fund Iv10.90%
Dgp Enterprises Pvt Ltd1.38%
Dilip Gopikisan Piramal0.45%
Shalini Dilip Piramal0.23%
Radhika Dilip Piramal0.16%
Aparna Piramal Raje0.10%
Business done with them
FY2025 · 2 of the group
The company paid ₹46 L to companies in the promoter group last year — about 0.0% of its ₹2,178 cr revenue and received ₹70 L back from them.
KEMP AND COMPANY LIMITED
Sold goods to them
also owns 0.01% of the company
₹70 L
company received
Dilip G. Piramal
Other payments to them
₹46 L
company paid

The company also transacted with 8 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.