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V I P Industries Ltd.

BSE: 507880 Sector: Consumer
NSE: VIPIND ISIN Code: INE054A01027
BSE 00:00 | 21 Jan 577.15 -16.60
(-2.80%)
OPEN

585.00

HIGH

609.10

LOW

569.65

NSE 00:00 | 21 Jan 577.80 -15.25
(-2.57%)
OPEN

584.15

HIGH

609.60

LOW

561.10

OPEN 585.00
PREVIOUS CLOSE 593.75
VOLUME 58054
52-Week high 668.00
52-Week low 309.00
P/E 1254.67
Mkt Cap.(Rs cr) 8,164
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 585.00
CLOSE 593.75
VOLUME 58054
52-Week high 668.00
52-Week low 309.00
P/E 1254.67
Mkt Cap.(Rs cr) 8,164
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

V I P Industries Ltd. (VIPIND) - Company History

VIP Industries Limited is engaged in the business of manufacturing and marketing of luggage bags and accessories. The company is promoted by Dilip G Piramal. Formerly Aristo Plast VIP Industries was incorporated in January 27 1968. Blow Plast Retail Limited V.I.P Industries Bangladesh Private Limited V.I.P Industries BD Manufacturing Private Limited and V.I.P Luggage BD Private Limited continued to be the wholly owned subsidiary companies of the Company. As on 31st March 2019 the Company has 1 Indian and 4 overseas wholly owned Subsidiaries. In 1971 it became a wholly owned subsidiary of Blow Plast..The company came out with a rights issue in Nov.'93 for expansion modernization and balancing its plants located at Nashik Jalgaon and Sinnar. It has a technical collaboration with Tooling Products (Langrish) UK to set up a state-of-the-art tool room to manufacture plastic injection moulds and press tools. VIP Industries sells 60% of its output in the all-product category in the domestic market through wholesalers and 30% is sold to institutions and the government.VIP's R & D unit at Nasik has been accorded recognition by the Government of India Ministry of Science and Technology. In 1997-98 it increased the installed capacity of its injection/vaccum moulded plastic goods by 1000 MT. During the year 1999-2000 the company's exports increased from 14.91 crores from the previous year to 15.49 crores in the current year registering a growth of 4%.The company has entered into technical collaboration with Delsey S A France for manufacturing some of their premium range suitcases & briefcases.During FY 2015 the Company launched `Verve' a polycarbonate range under the VIP brand for promotion through television campaigns and featured distinctive design and colors which were well received by consumers. During the same year the company launched Ladies Hand Bags category under the brand 'Caprese'. Caprese is now available at more than 500 points of sale across the country many distribution channels including select Company-run exclusive stores franchisee stores multi brand dealers and leading departmental chains like Shoppers Stop Lifestyle and Central as well as e- commerce platforms. In the Soft luggage segment 'Skybags' brand has done extremely well and grew in all luggage brands. It is successfully executing its multi brand - multi segment strategy with consistent investment in advertising for all major luggage brands.During FY 2016 Branded bags and luggage category saw tremendous growth as company increased its focus with new launches and advertising. Brand VIP remains the first choice of Indian family travel while Aristocrat and Alfa are providing value to consumers in hypermarkets and trade channels respectively.In FY 2017 Skybags backpack advertisement `play Back to Back' featuring Varun Dhawan has become very popular. Moreover with latest brand Ambassador Hrithik Roshan on board brand VIP is all set to get a stylish makeover. In FY 2018 the company's traditionally strong categories like Soft uprights and Duffle registered a good growth. With Carlton brand for the new-age business traveler the company is presently tapping high-end market where customers are discerning and willing to pay a premium for good bags.There was a fire incident at Company's Ghaziabad warehouse on 3rd April 2019. There was loss of stocks and fixed assets. The assets damaged by the fire are adequately insured. The damaged assets are being impaired during the period of losses occurred. The insurance claim will be recognized around the time of admission of claim by the insurance company.During the year 2019 V.I.P Accessories BD Private Limited has been incorporated as wholly owned subsidiary of the Company at Bangladesh.As on 31st March 2020 the Company has 1 Indian and 4 overseas wholly owned Subsidiaries.The Board of Directors has approved the allotment of 1000 listed secured rated redeemable Non-Convertible Debentures (NCDs) of Rs.1000000/- each aggregating to Rs. 100 crore on Private Placement basis in its meeting held on July 30 2020.The Company has issued Listed Redeemable 7.45% Non- Convertible Debentures (NCDs) aggregating to Rs 100 Crore on July 30 2020 and Listed Redeemable 7.25% Non- Convertible Debentures (NCDs) aggregating to Rs 50 Crore on September 07 2020.The Company's operations and financial results for the period ended March 31 2021 have been adversely impacted by the outbreak of COVID-19 pandemic as the travel industry has been amongst the most affected segments in the economy. The Company has been closely monitoring the changes in the economic conditions and its possible impact on its business. The Company had seen signs of recovery across all market of operations after the initial impact due to the onset of COVID19 at the beginning of the year. The Company has resumed operations across all locations including manufacturing plants.

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