V I P Industries Ltd

About [ edit ]

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

Key Points [ edit ]
  • Market Cap 4,742 Cr.
  • Current Price 335
  • High / Low 422 / 202
  • Stock P/E
  • Book Value 37.0
  • Dividend Yield 0.95 %
  • ROCE 28.6 %
  • ROE 24.7 %
  • Face Value 2.00

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.53%
  • Company has been maintaining a healthy dividend payout of 35.01%

Cons

  • Stock is trading at 9.06 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 11.05% over past five years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
362.56 517.81 401.78 430.09 434.98 564.18 412.27 430.57 311.34 40.33 102.75 232.61
308.25 421.56 350.71 392.28 395.41 439.10 345.33 361.94 279.46 95.69 124.94 224.47
Operating Profit 54.31 96.25 51.07 37.81 39.57 125.08 66.94 68.63 31.88 -55.36 -22.19 8.14
OPM % 14.98% 18.59% 12.71% 8.79% 9.10% 22.17% 16.24% 15.94% 10.24% -137.27% -21.60% 3.50%
Other Income 2.35 1.59 2.04 2.74 1.97 -45.91 2.70 1.77 5.50 17.66 5.13 10.21
Interest 0.13 0.02 0.04 0.73 0.70 5.28 6.99 5.61 5.12 6.54 7.80 8.15
Depreciation 3.48 3.67 3.89 4.40 4.65 19.21 21.87 22.29 21.81 23.14 18.64 18.21
Profit before tax 53.05 94.15 49.18 35.42 36.19 54.68 40.78 42.50 10.45 -67.38 -43.50 -8.01
Tax % 33.93% 32.71% 33.29% 32.72% 30.15% 35.84% 19.27% 19.51% 8.90% 23.83% 18.64% 12.61%
Net Profit 35.05 63.35 32.81 23.83 25.28 35.08 32.92 34.21 9.52 -51.32 -35.39 -7.00
EPS in Rs 2.48 4.48 2.32 1.69 1.79 2.48 2.33 2.42 0.67 -3.63 -2.50 -0.50

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
498 592 704 794 801 942 1,017 1,192 1,252 1,410 1,785 1,718 687
491 498 582 673 730 860 940 1,082 1,117 1,214 1,558 1,426 725
Operating Profit 7 94 122 121 71 82 77 110 134 196 227 293 -38
OPM % 1% 16% 17% 15% 9% 9% 8% 9% 11% 14% 13% 17% -5%
Other Income 11 -6 2 1 1 18 9 3 7 9 8 -35 38
Interest 17 12 6 9 7 4 3 3 3 2 4 25 28
Depreciation 15 18 15 17 20 17 18 14 14 13 17 84 82
Profit before tax -14 59 103 96 45 80 65 95 126 190 215 148 -108
Tax % -3% 18% 14% 29% 31% 28% 29% 30% 32% 33% 32% 25%
Net Profit -14 48 89 68 32 58 47 66 85 127 145 112 -84
EPS in Rs -1.01 3.42 6.28 4.78 2.23 4.08 3.30 4.70 6.03 8.97 10.28 7.91 -5.96
Dividend Payout % -20% 29% 32% 33% 45% 42% 45% 43% 40% 33% 31% 40%
Compounded Sales Growth
10 Years:11%
5 Years:11%
3 Years:11%
TTM:-63%
Compounded Profit Growth
10 Years:10%
5 Years:28%
3 Years:20%
TTM:-154%
Stock Price CAGR
10 Years:10%
5 Years:25%
3 Years:-6%
1 Year:56%
Return on Equity
10 Years:24%
5 Years:25%
3 Years:27%
Last Year:25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
28 28 28 28 28 28 28 28 28 28 28 28 28
Reserves 83 118 173 214 229 259 277 311 380 461 553 582 494
Borrowings 136 87 107 84 40 16 31 14 0 0 86 269 386
92 84 112 106 112 146 163 231 201 284 404 364 295
Total Liabilities 339 318 420 432 409 449 499 585 609 773 1,071 1,244 1,204
91 81 80 83 78 85 71 67 61 77 117 364 291
CWIP 1 0 5 1 4 1 1 1 1 3 6 3 2
Investments 1 0 0 0 0 0 0 0 68 72 1 41 110
246 236 334 348 328 363 427 517 479 621 948 836 800
Total Assets 339 318 420 432 409 449 499 585 609 773 1,071 1,244 1,204

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
33 84 13 84 74 50 14 53 126 85 -56 292
-6 -10 -18 -20 -15 -2 -3 -8 -73 -29 16 -85
-23 -67 -4 -56 -63 -49 -14 -45 -51 -44 31 -211
Net Cash Flow 3 7 -10 8 -4 -1 -3 0 2 13 -9 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 3% 33% 40% 33% 17% 23% 20% 28% 34% 43% 38% 29%
Debtor Days 66 49 72 57 47 37 40 46 35 46 61 57
Inventory Turnover 3.00 3.46 3.53 3.24 3.17 3.40 2.91 2.63 2.42 2.34 2.13 1.65

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
53.46 53.46 53.46 53.46 53.46 53.46 53.46 53.46 53.46 53.46 53.46 53.46
10.96 12.13 10.54 8.70 8.21 7.28 6.68 4.76 4.14 2.48 3.04 2.97
8.49 7.32 8.06 9.15 9.37 10.26 11.51 13.61 13.37 15.64 14.72 16.74
27.09 27.09 27.94 28.69 28.96 29.00 28.35 28.17 29.04 28.42 28.78 26.84

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