VIP Industries added 2.38% to Rs 449.65 after the company announced the appointment of Atul Jain as its new managing director (MD), effective 23 September 2025, for a term of five years.
An alumnus of IIT-Delhi and IIM-Calcutta, Jain brings extensive leadership experience across consumer durables, FMCG, telecom and education sectors. He previously served as Senior Director at Samsung Electronics Global Headquarters in South Korea, where he spearheaded AI-led digitisation and business transformation for the companys Rs 15,000-crore consumer durables business. His career also includes senior roles at Aptech Ltd., Coca-Cola, Godfrey Phillips India and Bharti Airtel.
In line with regulatory disclosures, the company confirmed that Jain is not related to any other director of the company and is not debarred from holding office by any statutory authority, in compliance with BSE and NSE circulars dated 20 June 2018.
Meanwhile, Neetu Kashiramka, who had been serving as managing director, stepped down from the role at the close of the board meeting on 23 September 2025, as part of the companys ongoing ownership transition. She will, however, continue in the employment of VIP Industries until 31 October 2025, ensuring a smooth handover.
VIP Industries is the leading manufacturer of hard and soft luggage in Asia.
The firm reported a consolidated net loss of Rs 13.10 crore in Q1 FY26 compared with a net profit of Rs 4.04 crore in Q1 FY25. Revenue from operations declined 12.12% year on year (YoY) to Rs 561.43 crore in the quarter ended 30 June 2025.
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