VIP Clothing Ltd
Maxwell Industries Limited was incorporated in 1991 by Mr. Jaykumar Pathare and was renamed VIP Clothing Limited in 2016. It is the first intimate innerwear brand. [1] [2] [3]
VIP Clothing is engaged in the business of Manufacturer, Marketing and Distributor of Mens and Womens innerwear and socks under the brand name VIP, Frenchie, Feelings, Leader, and Eminence.[4]
- Market Cap ₹ 382 Cr.
- Current Price ₹ 46.2
- High / Low ₹ 59.8 / 37.4
- Stock P/E 335
- Book Value ₹ 18.0
- Dividend Yield 0.00 %
- ROCE 4.92 %
- ROE 1.35 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 21.2% CAGR over last 5 years
Cons
- Stock is trading at 2.56 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -2.02% over past five years.
- Company has a low return on equity of -0.35% over last 3 years.
- Earnings include an other income of Rs.6.90 Cr.
- Promoter holding has decreased over last 3 years: -3.38%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Textiles Industry: Textiles - Products
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
220 | 249 | 257 | 261 | 194 | 231 | 222 | 207 | 172 | 143 | 183 | 201 | 202 | |
201 | 233 | 234 | 233 | 194 | 217 | 212 | 203 | 188 | 140 | 176 | 188 | 189 | |
Operating Profit | 18 | 16 | 23 | 28 | -0 | 14 | 10 | 4 | -16 | 3 | 7 | 13 | 13 |
OPM % | 8% | 7% | 9% | 11% | -0% | 6% | 5% | 2% | -9% | 2% | 4% | 6% | 6% |
6 | 5 | 1 | 0 | 7 | -6 | 1 | 2 | 3 | 2 | 2 | 8 | 7 | |
Interest | 15 | 14 | 13 | 13 | 13 | 12 | 11 | 9 | 10 | 11 | 10 | 9 | 9 |
Depreciation | 4 | 3 | 4 | 5 | 4 | 3 | 3 | 3 | 4 | 4 | 4 | 3 | 3 |
Profit before tax | 6 | 4 | 8 | 11 | -9 | -8 | -3 | -7 | -28 | -10 | -4 | 8 | 9 |
Tax % | 25% | 35% | 34% | 36% | -5% | 5% | -18% | 5% | 46% | 89% | 46% | 20% | |
5 | 3 | 5 | 7 | -10 | -7 | -3 | -6 | -15 | -1 | -2 | 7 | 5 | |
EPS in Rs | 0.59 | 0.36 | 0.68 | 0.89 | -1.20 | -0.89 | -0.37 | -0.75 | -1.81 | -0.13 | -0.27 | 0.80 | 0.63 |
Dividend Payout % | 41% | 53% | 24% | 27% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | -2% |
5 Years: | -2% |
3 Years: | 5% |
TTM: | 0% |
Compounded Profit Growth | |
---|---|
10 Years: | -4% |
5 Years: | 21% |
3 Years: | 29% |
TTM: | 252% |
Stock Price CAGR | |
---|---|
10 Years: | 12% |
5 Years: | 9% |
3 Years: | 64% |
1 Year: | 20% |
Return on Equity | |
---|---|
10 Years: | -2% |
5 Years: | -3% |
3 Years: | 0% |
Last Year: | 1% |
Balance Sheet
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
Reserves | 75 | 75 | 78 | 79 | 80 | 143 | 178 | 135 | 120 | 119 | 117 | 123 | 133 |
Preference Capital | 12 | 12 | 12 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
83 | 99 | 83 | 95 | 94 | 96 | 80 | 83 | 79 | 93 | 103 | 89 | 86 | |
51 | 66 | 73 | 68 | 56 | 88 | 89 | 68 | 57 | 42 | 48 | 56 | 53 | |
Total Liabilities | 221 | 253 | 247 | 255 | 243 | 341 | 364 | 302 | 272 | 270 | 285 | 285 | 288 |
70 | 69 | 72 | 67 | 62 | 171 | 166 | 109 | 109 | 107 | 104 | 97 | 96 | |
CWIP | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
151 | 184 | 175 | 186 | 182 | 170 | 198 | 194 | 163 | 163 | 181 | 188 | 192 | |
Total Assets | 221 | 253 | 247 | 255 | 243 | 341 | 364 | 302 | 272 | 270 | 285 | 285 | 288 |
Cash Flows
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
22 | 5 | 35 | 12 | 10 | 10 | -17 | 7 | 14 | 6 | -4 | 13 | |
8 | -3 | -5 | -4 | 2 | 12 | 3 | -1 | 3 | -1 | -0 | 11 | |
-29 | -1 | -31 | -8 | -11 | -21 | 15 | -6 | -16 | -2 | 1 | -14 | |
Net Cash Flow | 1 | 1 | -1 | -0 | 0 | 1 | 1 | 0 | 2 | 2 | -3 | 10 |
Ratios
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 78 | 83 | 80 | 106 | 103 | 84 | 107 | 106 | 103 | 154 | 120 | 121 |
Inventory Days | 269 | 266 | 228 | 216 | 367 | 268 | 323 | 336 | 302 | 330 | 311 | 240 |
Days Payable | 53 | 79 | 75 | 74 | 108 | 59 | 69 | 63 | 68 | 96 | 106 | 84 |
Cash Conversion Cycle | 294 | 271 | 232 | 248 | 362 | 292 | 361 | 380 | 338 | 387 | 326 | 277 |
Working Capital Days | 191 | 185 | 160 | 173 | 249 | 212 | 266 | 283 | 272 | 325 | 264 | 238 |
ROCE % | 8% | 10% | 11% | 12% | -2% | 5% | 3% | 1% | -8% | 0% | 2% | 5% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
10 Nov - Newspaper Publication - Extract of Un-audited Financial Results for the 2nd Quarter and Half year ended on September 30, 2023.
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Announcement under Regulation 30 (LODR)-Investor Presentation
10 Nov - Investor Presentation on Un-audited Financial Results of the Company for the 2nd quarter and Half year ended on 30th September, 2023.
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Announcement under Regulation 30 (LODR)-Meeting Updates
9 Nov - Appointment of Internal Auditor of the Company pursuant to Regulation 30 of LODR.
- Compliance Under Regulation 23(9) Of The SEBI (Listing Obligations And Disclosure Requirement) Regulations, 2015. 9 Nov
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Statement Of Deviation Or Variation Of Funds
9 Nov - Statement of deviation and Variation of Funds for the quarter ended on 30.09.2023.
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
from bse
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Financial Year 2011
from nse
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Financial Year 2011
from bse
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Financial Year 2010
from bse
Concalls
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Nov 2023TranscriptNotesPPT
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May 2023TranscriptNotesPPT
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Feb 2023TranscriptNotesPPT
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Feb 2023TranscriptNotesPPT
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Jan 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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Feb 2019TranscriptNotesPPT
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Nov 2018TranscriptNotesPPT
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Aug 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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Feb 2018TranscriptNotesPPT
Product and Brands
VIP Clothing Ltd. has been there for more than 40 years. It is engaged in the manufacturing and marketing of male underwear (briefs, trunks, boxer shorts, vests) and female basic intimate apparel (panties, camisoles, fundamental bras).
It markets the following brands and all of their sub-brands:
Frenchie was launched in the 80s and marked the advent of mini-brief in India. It has been present for 30 years and is the largest selling brand in its category. [1]
Frenchie X is present in the premium segment for youth where international brands are trying to enter.
VIP Feelings is present in the lingerie segment. This brand is known for its innovations and creation of categories such as Nursing Bra's, Sanitary Panties. which are made from 100% genuine elastic and are designed using fabrics with a Microbe Shield that provides effective solutions to microbial contamination. [2]
Leader consists of Vest, Briefs & Trunks for men and kids which are made from 100% combed cotton. [3] [4] [1]