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Last Updated on: 23 April, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 507880 | NSE: VIPIND

Fundamental Analysis of VIP Industries Ltd

Basic Stock Data

Last Updated: April 23, 2024, 11:44 am

Market Cap 7,674 Cr.
Current Price 540
High / Low723/449
Stock P/E77.8
Book Value 50.4
Dividend Yield0.83 %
ROCE27.8 %
ROE29.0 %
Face Value 2.00

Data Source: screener.in

Competitors of VIP Industries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Shree Tirupati Balajee FIBC Ltd 501 Cr. 495550/99.930.2 74.00.00 %13.4 %15.8 % 10.0
Anuroop Packaging Ltd 23.8 Cr. 22.337.0/15.77.06 21.60.00 %15.9 %13.2 % 10.0
Jindal Poly Films Ltd 2,421 Cr. 553749/449 9270.78 %12.5 %8.12 % 10.0
Oricon Enterprises Ltd 673 Cr. 42.849.3/19.456.2 72.01.17 %1.95 %1.17 % 2.00
CDG Petchem Ltd 13.0 Cr. 42.151.1/12.8 5.300.00 %5.51 %16.5 % 10.0
Industry Average726.36 Cr231.0418.69219.980.39%9.85%10.96%8.40

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales232.53243.00206.21330.06397.34355.90590.61514.74526.40450.57636.13546.09546.42
Expenses224.39239.80193.29288.27340.19323.32488.00443.16453.44386.29555.53493.21494.17
Operating Profit8.143.2012.9241.7957.1532.58102.6171.5872.9664.2880.6052.8852.25
OPM %3.50%1.32%6.27%12.66%14.38%9.15%17.37%13.91%13.86%14.27%12.67%9.68%9.56%
Other Income10.2116.3014.346.759.405.8322.055.282.58-42.6728.422.572.66
Interest8.157.267.356.505.425.376.546.926.618.4110.7712.3615.16
Depreciation18.2117.9618.0617.4817.4217.0018.0217.9718.0519.6220.8823.8226.56
Profit before tax-8.01-5.721.8524.5643.7116.04100.1051.9750.88-6.4277.3719.2713.19
Tax %12.61%33.92%-36.76%24.51%23.43%22.76%30.97%16.49%13.33%33.64%25.36%31.08%45.79%
Net Profit-7.00-3.782.5318.5433.4712.3969.1043.4044.10-4.2657.7513.287.15
EPS in Rs-0.50-0.270.181.312.370.884.883.073.11-0.304.080.940.50

Last Updated: April 10, 2024, 5:05 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: April 6, 2024, 6:25 am

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales7948019421,0171,1921,2521,4101,7851,7146191,2902,0822,179
Expenses6737308609381,0821,1171,2141,5581,4186831,1431,7651,929
Operating Profit121718279110134196227296-64147317250
OPM %15%9%9%8%9%11%14%13%17%-10%11%15%11%
Other Income111873798-364836-16-9
Interest974333242531263147
Depreciation17201718141413178778707491
Profit before tax9645806595126190215148-12586197103
Tax %29%31%28%29%30%32%33%32%25%22%22%22%
Net Profit683258476685127145112-976715274
EPS in Rs4.782.234.083.304.706.038.9710.287.91-6.904.7310.755.22
Dividend Payout %33%45%42%45%43%40%33%31%40%0%53%42%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-52.94%81.25%-18.97%40.43%28.79%49.41%14.17%-22.76%-186.61%169.07%126.87%
Change in YoY Net Profit Growth (%)0.00%134.19%-100.22%59.39%-11.64%20.62%-35.24%-36.93%-163.85%355.68%-42.21%

Growth

Compounded Sales Growth
10 Years:10%
5 Years:8%
3 Years:7%
TTM:10%
Compounded Profit Growth
10 Years:19%
5 Years:7%
3 Years:6%
TTM:-38%
Stock Price CAGR
10 Years:18%
5 Years:2%
3 Years:17%
1 Year:-9%
Return on Equity
10 Years:17%
5 Years:15%
3 Years:8%
Last Year:29%

Last Updated: April 16, 2024, 6:14 pm

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital28282828282828282828282828
Reserves214229259277311380461553582489531613687
Borrowings84401631140086269353298352529
Other Liabilities106112146163231201284404364223371421559
Total Liabilities4324094494995856097731,0711,2431,0941,2291,4151,804
Fixed Assets83788571676177117371288265309441
CWIP141111363271512
Investments00000687214114142233
Other Assets3483283634275174796219488296629151,0671,347
Total Assets4324094494995856097731,0711,2431,0941,2291,4151,804

Reserves and Borrowings Chart

Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 847450145312685-5629285-24175
Cash from Investing Activity -20-15-2-3-8-73-2916-85-145146-84
Cash from Financing Activity -56-63-49-14-45-51-4431-21174-126-75
Net Cash Flow8-4-1-30213-9-414-316

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow37.0031.0066.0048.0096.00134.00196.00141.0027.00-417.00-151.00-35.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days574737404635466157886245
Inventory Days127119120145158153168219208311305217
Days Payable585968768978113132135159166114
Cash Conversion Cycle12610889109115109101148130240201148
Working Capital Days928170827973761039117613796
ROCE %33%17%23%20%28%34%43%38%29%-12%13%28%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters53.46%53.46%50.28%50.27%50.39%50.79%51.33%51.32%51.31%51.30%51.23%51.77%
FIIs2.97%2.98%4.39%5.84%8.63%8.84%8.95%9.33%9.03%8.95%7.76%7.49%
DIIs16.74%20.47%23.16%23.60%21.36%20.80%20.59%19.88%20.89%20.82%14.70%12.84%
Public26.84%23.09%22.17%20.29%19.62%19.57%19.14%19.47%18.77%18.94%26.32%27.91%
No. of Shareholders1,20,5601,13,2901,18,0921,10,7961,08,0191,10,9711,08,9851,14,4181,10,8161,11,0201,15,2461,28,729

Shareholding Pattern Chart

No. of Shareholders

VIP Industries Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Kotak Small Cap Fund - Regular Plan25303931.07151.23
Canara Robeco Small Cap Fund14325290.877.16
HDFC Capital Builder Value Fund - Regular Plan9066110.8354.18
Kotak Business Cycle Fund2772340.6716.57
Mahindra Manulife Flexi Cap Fund2560001.1413.79
Canara Robeco Consumer Trends Fund2300000.9212.39
Mahindra Manulife ELSS Tax Saver Fund1550001.078.35
HSBC Small Cap Equity Fund - OLD1000002.497.47
Canara Robeco Value Fund1300000.647
Aditya Birla Sun Life Bal Bhavishya Yojna - Savings Plan1000000.766

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)10.764.73-6.907.9110.28
Diluted EPS (Rs.)10.724.73-6.907.9110.28
Cash EPS (Rs.)15.959.68-1.3813.8411.46
Book Value[Excl.RevalReserv]/Share (Rs.)45.3039.5736.6043.1841.15
Book Value[Incl.RevalReserv]/Share (Rs.)45.3039.5736.6043.1841.15
Revenue From Operations / Share (Rs.)147.0091.1643.78121.61126.30
PBDIT / Share (Rs.)23.3612.78-1.2021.5016.49
PBIT / Share (Rs.)18.167.83-6.7115.5615.32
PBT / Share (Rs.)13.876.09-8.8210.5015.21
Net Profit / Share (Rs.)10.754.73-6.907.9110.28
NP After MI And SOA / Share (Rs.)10.754.73-6.907.9110.28
PBDIT Margin (%)15.8814.01-2.7317.6713.05
PBIT Margin (%)12.358.59-15.3312.7912.12
PBT Margin (%)9.436.68-20.148.6312.04
Net Profit Margin (%)7.315.19-15.766.508.13
NP After MI And SOA Margin (%)7.315.19-15.766.508.13
Return on Networth / Equity (%)23.7411.95-18.8518.3124.98
Return on Capital Employeed (%)32.5915.53-13.6827.2736.32
Return On Assets (%)10.765.44-8.908.9713.56
Total Debt / Equity (X)0.280.210.290.050.14
Asset Turnover Ratio (%)1.571.110.541.541.98
Current Ratio (X)1.621.741.841.891.91
Quick Ratio (X)0.670.731.090.860.79
Inventory Turnover Ratio (X)1.371.380.290.480.55
Dividend Payout Ratio (NP) (%)41.8252.840.0065.7931.12
Dividend Payout Ratio (CP) (%)28.1925.830.0037.5827.93
Earning Retention Ratio (%)58.1847.160.0034.2168.88
Cash Earning Retention Ratio (%)71.8174.170.0062.4272.07
Interest Coverage Ratio (X)11.627.34-0.5613.21156.40
Interest Coverage Ratio (Post Tax) (X)7.483.72-2.287.9798.50
Enterprise Value (Cr.)8261.7610630.805068.053413.346940.51
EV / Net Operating Revenue (X)3.978.248.191.993.89
EV / EBITDA (X)24.9758.81-299.5311.2429.78
MarketCap / Net Operating Revenue (X)3.908.168.091.973.85
Retention Ratios (%)58.1747.150.0034.2068.87
Price / BV (X)12.6518.819.685.5611.81
Price / Net Operating Revenue (X)3.908.168.091.973.85
EarningsYield0.010.01-0.010.030.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 1146.56

The stock is undervalued by 112.33% compared to the current price ₹540

Calculation basis:

  • Fair value = (P/E Ratio * (Return on Equity / 100) * Book Value) * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 24.50%, which is a positive sign.
  2. The company has higher reserves (429.69 cr) compared to borrowings (159.38 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (243.62 cr) and profit (101.62 cr) over the years.
  1. The stock has a high average Working Capital Days of 96.33, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 135.33, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in VIP Industries Ltd:
    1. Net Profit Margin: 7.31%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 32.59% (Industry Average ROCE: 8.16%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 23.74% (Industry Average ROE: 6.66%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 7.48
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.67
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 77.8 (Industry average Stock P/E: 15.23)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. ✓ Total Debt / Equity: 0.28
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating: ★★★★︎☆

About the Company

VIP Industries Ltd. is a Public Limited Listed company incorporated on 27/01/1968 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L25200MH1968PLC013914 and registration number is 013914. Currently Company is involved in the business activities of Manufacture of travel goods like suitcase, bags, holdalls etc.. Company’s Total Operating Revenue is Rs. 1257.19 Cr. and Equity Capital is Rs. 28.29 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Packaging & ContainersDGP House, 5th Floor, Mumbai Maharashtra 400025investor-help@vipbags.com
http://www.vipindustries.co.in
Management
NamePosition Held
Mr. Dilip G PiramalChairman
Ms. Radhika PiramalExecutive Vice Chairperson
Mr. Anindya DuttaManaging Director
Ms. Neetu KashiramkaExecutive Director & CFO
Mr. Amit JatiaIndependent Director
Mr. Ramesh DamaniIndependent Director
Ms. Nisaba GodrejIndependent Director
Mr. Tushar JaniIndependent Director

VIP Industries Ltd. Share Price Update

Share PriceValue
Today₹539.20
Previous Day₹536.20

FAQ

What is the latest fair value of VIP Industries Ltd?

The latest fair value of VIP Industries Ltd is 1146.56.

What is the Market Cap of VIP Industries Ltd?

The Market Cap of VIP Industries Ltd is 7,674 Cr..

What is the current Stock Price of VIP Industries Ltd as on 23 April 2024?

The current stock price of VIP Industries Ltd as on 23 April 2024 is 540.

What is the High / Low of VIP Industries Ltd stocks in FY 2024?

In FY 2024, the High / Low of VIP Industries Ltd stocks is ₹723/449.

What is the Stock P/E of VIP Industries Ltd?

The Stock P/E of VIP Industries Ltd is 77.8.

What is the Book Value of VIP Industries Ltd?

The Book Value of VIP Industries Ltd is 50.4.

What is the Dividend Yield of VIP Industries Ltd?

The Dividend Yield of VIP Industries Ltd is 0.83 %.

What is the ROCE of VIP Industries Ltd?

The ROCE of VIP Industries Ltd is 27.8 %.

What is the ROE of VIP Industries Ltd?

The ROE of VIP Industries Ltd is 29.0 %.

What is the Face Value of VIP Industries Ltd?

The Face Value of VIP Industries Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in VIP Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE