VIP Industries Ltd
NSE: VIPIND · Plastic Products - Consumer · sector
₹261.15NSE close 2026-10-26
Key numbers
Market cap₹3,710 cr
Price₹261.15
52w high / low₹442 / ₹261
P/E–Sector median 22.9x
P/B12.8xSector median 2.0x
Book value₹20.4
Dividend yield0.01%Sector median 0.29%
ROE-83.6%Sector median 8.1%
ROCE-43.7%Sector median 10.8%
OPM-10.7%Sector median 8.9%
Debt / equity1.42xSector median 0.20x
EV/EBITDA–Sector median 16.9x
Interest cover-4.4x
Current ratio0.96x
Sales growth 3y-3.7%Sector median +5.8%
Profit growth 3y–Sector median +12.1%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 11 companies in Plastic Products - Consumer (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹116 cr vs borrowings ₹411 cr (FY26): borrowings are higher by ₹295 cr.
- Operating profit covered interest -4.4x in the last 12 months.
- No promoter shares are pledged.
- Promoter holding fell by 7.38 percentage points in a year, to 42.35% (2026-09-30).
- Operating cash flow was below net profit in 2 of the last 5 years (FY24, FY22).
- Net loss in 8 of the last 8 quarters.
- Revenue was higher than a year earlier in 1 of the last 4 quarters.
- Dividend paid in 2 of the last 5 financial years.
- Price ₹261.15 on 2026-10-26: -40.9% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹556.85 · low ₹260.00
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 544 | 501 | 494 | 561 | 406 | 454 | 436 | 578 |
| EBITDA | 1 | 29 | 11 | 27 | -102 | -6 | -82 | -11 |
| OPM % | 0.3% | 5.7% | 2.2% | 4.7% | -25.1% | -1.2% | -18.7% | -1.9% |
| Other income | 3 | 2 | 4 | 5 | 11 | 3 | 4 | 4 |
| Net profit | -33 | -12 | -27 | -13 | -143 | -53 | -129 | -54 |
| EPS (₹) | -2.32 | -0.88 | -1.92 | -0.92 | -10.08 | -3.72 | -9.07 | -3.77 |
| Revenue YoY | -25.3% | -9.4% | -11.7% | +3.0% | ||||
| Profit YoY | – | – | – | – |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,290 | 2,082 | 2,245 | 2,178 | 1,858 | 1,875 |
| EBITDA | 144 | 282 | 219 | 90 | -163 | -200 |
| Net profit | 67 | 152 | 54 | -69 | -338 | -378 |
| EPS (₹) | 4.73 | 10.76 | 3.84 | -4.84 | -23.79 | -26.64 |
| Revenue growth | +61.5% | +7.8% | -3.0% | -14.7% | -10.8% | |
| Profit growth | +127.6% | -64.4% | -226.7% | – | – | |
| Dividend / share (₹) | – | 4.50 | 2.00 | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -3.7% | +24.6% | -10.8% |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | -27.0% (2y) | -38.5% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 642 | 678 | 616 | 290 |
| Borrowings | – | 181 | 533 | 415 | 411 |
| Cash & equivalents | – | 59 | 47 | 48 | 116 |
| Total assets | – | 1,415 | 2,067 | 1,856 | 1,604 |
| Fixed assets | – | 148 | 207 | 193 | 207 |
| Capital work in progress | – | 15 | 13 | 18 | 15 |
| Investments | – | 1 | 2 | 5 | 3 |
| Receivables | – | 255 | 328 | 368 | 271 |
| Inventory | – | 587 | 916 | 698 | 472 |
| Payables | – | 309 | 407 | 386 | 449 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -24 | 175 | -132 | 292 | 181 |
| Cash from investing | 146 | -84 | -76 | -47 | -48 |
| Cash from financing | -126 | -75 | 218 | -251 | -139 |
| Capex | 36 | 107 | 100 | 43 | 48 |
| Free cash flow | -60 | 68 | -232 | 249 | 133 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 23.7% | 8.0% | -11.2% | -116.8% |
| ROCE % | – | 27.4% | 10.9% | -1.7% | -38.2% |
| Debtor days | – | 45 | 53 | 62 | 53 |
| Inventory days | – | 210 | 314 | 215 | 146 |
| Payable days | – | 111 | 140 | 119 | 138 |
| Cash conversion cycle (days) | – | 144 | 227 | 158 | 61 |
| Working capital days | – | 68 | 56 | 44 | -8 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 42.35% |
| FIIs | 4.65% |
| DIIs | 16.55% |
| of which Mutual funds | 13.52% |
| of which Insurance | 0.40% |
| Public (non-institutions) | 36.45% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 51.73% | 51.73% | 51.73% | 49.73% | 42.35% | 42.35% | 42.35% | 42.35% |
| Promoter group | % |
|---|---|
| DGP Securities Limited | 17.07% |
| Multiples Private Equity Gift Fund IV | 12.02% |
| Multiples Private Equity Fund IV | 10.90% |
| DGP Enterprises PVT Ltd | 1.38% |
| Dilip Gopikisan Piramal | 0.45% |
| Shalini Dilip Piramal | 0.23% |
| Radhika Dilip Piramal | 0.16% |
| Aparna Piramal Raje | 0.10% |
| Alcon Finance & Investments Private Ltd | 0.01% |
| Kemp and Company Ltd | 0.01% |
| Piramal Vibhuti Investments Limited | 0.01% |
| Kiddy Plast Ltd | 0.01% |
| Public holders above 1% | % |
|---|---|
| Samvibhag Securities Private Limited | 8.44% |
| SBI Flexicap Fund | 6.78% |
| Tata Mutual Fund - Tata Small CAP Fund | 3.36% |
| Alternate Investment Funds | 2.59% |
| ICICI Prudential Smallcap Fund | 2.14% |
| Investor Education and Protection Fund Authority Ministry of Corporate Affairs | 1.39% |
| HSBC Mutual Fund - HSBC Value Fund | 1.09% |
1,19,955 shareholders. Pledged: 0.00% of promoter shares.
Peers in Plastic Products - Consumer
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| SHAILY | ₹13,731 cr | 77.6x | 19.2x | 28.0% | 27.9% | 28.7% | +17.7% | 0.06% |
| SAFARI | ₹6,017 cr | 36.4x | 5.4x | 15.9% | 19.8% | 12.7% | +19.1% | 0.29% |
| VIPIND | ₹3,710 cr | – | 12.8x | -83.6% | -43.7% | -10.7% | -3.7% | 0.01% |
| NILKAMAL | ₹2,444 cr | 19.6x | 1.6x | 8.1% | 10.8% | 8.9% | +6.5% | 1.22% |
| BAIKAKAJI | ₹605 cr | 18.0x | 3.9x | 17.5% | 28.4% | 14.3% | – | – |
| PILITA | ₹165 cr | 78.1x | 2.0x | 2.8% | 4.6% | 6.2% | +8.3% | – |
| PRIMAPLA | ₹124 cr | 6.3x | 0.7x | 9.4% | 13.2% | 17.8% | +4.8% | 8.68% |
| AVROIND | ₹75 cr | 17.8x | 0.8x | 4.9% | 6.7% | 2.2% | +5.8% | – |
| TOKYOPLAST | ₹69 cr | 197.0x | 1.1x | 0.6% | 3.2% | 8.1% | +1.6% | – |
| ATHARVA | ₹51 cr | 22.9x | 7.1x | 89.5% | 132.9% | 17.9% | – | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-02-07 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2023-07-25 | Other | Annual General Meeting |
| 2023-02-02 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2022-11-03 | Dividend | Interim Dividend - Rs 2.50 Per Share |
| 2022-07-22 | Other | Annual General Meeting |
| 2022-03-08 | Dividend | Interim Dividend |
| 2021-08-04 | Other | Annual General Meeting |
| 2020-07-27 | Other | Annual General Meeting |
| 2020-02-24 | Dividend | Interim Dividend - Rs 3.2 Per Share |
| 2019-07-19 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2019-02-18 | Dividend | Interim Dividend - Rs 1.20 Per Share |
| 2018-07-06 | Dividend | Annual General Meeting / Dividend- Rs 2 Per Share |
| 2018-02-06 | Dividend | Interim Dividend - Re 1 Per Share |
| 2017-07-14 | Dividend | Annual General Meeting/Dividend - Rs 1.60/- Per Share |
| 2017-02-22 | Dividend | Interim Dividend Re 0.80 Per Share |
| 2016-07-14 | Dividend | Annual General Meeting/Dividend Rs 1.40 Per Share |
| 2016-02-08 | Dividend | Interim Dividend Re 0.60 Per Share (Purposed Revised) |
| 2015-07-10 | Dividend | Annual General Meeting/ Dividend - Re 1/- Per Share |
| 2015-02-03 | Dividend | Interim Dividend - Re 0.50/- Per Share (Purpose Revised) |
| 2014-06-27 | Dividend | Annual General Meeting And Dividend - Rs 1.20 Per Equity Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Trade: Manufacturing & Retail Trading
| Sector | Consumer Discretionary |
| Industry | Plastic Products - Consumer |
| Sub-industry | Plastic Products - Consumer |
| Symbol | VIPIND |
| BSE code | 507880 |
| ISIN | INE054A01027 |
| Face value | ₹2.0 |
| Incorporated | 1968-01-27 |
| Website | www.vipindustries.co.in |
| Plants (India / abroad) | 2 / 7 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.