ICICI Direct has given Buy recommendation for VIP Industries recommended buy rating on the stock with a target price of Rs 850 in its research rep with a target price of Rs. 850 in its research report issued on Oct 22, 2022

ICICI Direct’s research report on VIP Industries

VIP Industries is one of Asia’s leading seller/manufacturer of various type of luggage, backpacks and handbags. VIP has a range of leading brands, positioned across the entire price range, catering to value (Aristocrat) mid (VIP, Skybags) and premium (Carlton, Caprese) price points. Market leader in the organised luggage space (oligopoly market: 44% share) • VIP has, over the years, maintained balance sheet prudence with stringent working capital policy, virtually debt free status and healthy RoCE: 30%+.


We maintain BUY recommendation on the stock. We value VIP at Rs 850 i.e. 48x FY24E EPS.

Leave a Reply

Your email address will not be published. Required fields are marked *