Results 04-Nov-21
Analysis
V I P Industries
In the black
V I P Industries consolidated net sales increased 221.35% to Rs 330.06 crore in Q2FY22 compared to Q2FY21.
Q2 revenue grew 153% over Q1FY22 June quarter. Hard Luggage constitutes 47% of total revenue for this quarter. Operating profit margin (OPM) has turned from negative 21.74% to positive 12.67%, Operating profit for the quarter stood at Rs 41.81 crore compared to loss of Rs 22.33 crore.
Raw material cost as a % of total sales (net of stock adjustments) increased from 27.60% to 38.54%.
Purchase of finished goods cost rose from 1.39% to 13.80%.
Employee cost decreased from 53.14% to 13.58%.
Other expenses fell from 57.75% to 21.27%.
Other income rose 27.70% to Rs 6.73 crore.
PBIDT stood at Rs 48.54 crore compared to loss of Rs 17.06 crore.
Provision for interest fell 16.67% to Rs 6.5 crore.
PBDT stood at Rs 42.04 crore compared to loss of Rs 24.86 crore.
Provision for depreciation fell 6.22% to Rs 17.48 crore.
Profit before tax reported profit of Rs 24.56 crore compared to loss of Rs 43.50 crore.
Provision for tax was debit of Rs 6.02 crore, compared to credit of Rs 8.11 crore.
PAT reported a profit of Rs 18.54 crore compared to loss of Rs 35.39 crore.
Equity capital increased from Rs 28.26 crore as of 30 September 2020 to Rs 28.28 crore as of 30 September 2021.
Per share face Value remained same at Rs 2.00.
Promoters’ stake was 50.28% as of 30 September 2021 ,compared to 53.46% as of 30 September 2020 .
For year-to-date (YTD) results analysis
Net sales of V I P Industries increased 274.94% to Rs 536.27 crore.
Operating profit margin (OPM) has turned from negative 54.36% to positive 10.21%, Operating profit for the quarter stood at Rs 54.73 crore compared to loss of Rs 77.75 crore.
Raw material cost as a % of total sales (net of stock adjustments) increased from 23.25% to 37.77%.
Purchase of finished goods cost rose from 5.64% to 13.27%.
Employee cost decreased from 85.78% to 15.63%.
Other expenses fell from 82.72% to 23.04%.
Other income fell 8.35% to Rs 21.07 crore.
PBIDT stood at Rs 75.80 crore compared to loss of Rs 54.76 crore.
Provision for interest fell 3.42% to Rs 13.85 crore.
PBDT stood at Rs 61.95 crore compared to loss of Rs 69.1 crore.
Provision for depreciation fell 14.94% to Rs 35.54 crore.
Fixed assets declined from Rs 290.49 crore as of 30 September 2020 to Rs 265.23 crore as of 30 September 2021.
Intangible assets declined from Rs 3.14 crore to Rs 1.89 crore.
Profit before tax reported profit of Rs 26.41 crore compared to loss of Rs 110.88 crore.
Share of profit/loss were nil in both the periods.
Provision for tax was debit of Rs 5.34 crore, compared to credit of Rs 24.17 crore.
PAT reported profit of Rs 21.07 crore compared to loss of Rs 86.71 crore.
The scrip is currently trading at Rs 574
VIP Industries: Consoldiated Results
2109 (03)
2009 (03)
Var.(%)
2109 (06)
2009 (06)
Var.(%)
2103 (12)
2003 (12)
Var.(%)
Total Operating Income
330.06
102.71
221
536.27
143.03
275
618.56
1714.35
-64
OPM(%)
12.7%
-21.7%
10.2%
-54.4%
-10.6%
17.2%
OP
41.81
-22.33
LP
54.73
-77.75
LP
-65.27
294.22
-122
Other Income
6.73
5.27
28
21.07
22.99
-8
48.35
12.50
287
PBIDT
48.54
-17.06
LP
75.80
-54.76
LP
-16.92
306.72
-106
Interest
6.50
7.80
-17
13.85
14.34
-3
29.75
23.00
999
PBDT
42.04
-24.86
LP
61.95
-69.10
LP
-46.67
283.72
-116
Depreciation
17.48
18.64
-6
35.54
41.78
-15
77.94
86.81
-10
PBT Before EO
24.56
-43.50
LP
26.41
-110.88
LP
-124.61
196.91
-163
EO
0.00
0.00
0.00
0.00
0.00
-48.50
PBT after EO
24.56
-43.50
LP
26.41
-110.88
LP
-124.61
148.41
-184
Tax provision
6.02
-8.11
PL
5.34
-24.17
PL
-27.12
36.68
-174
PAT
18.54
-35.39
LP
21.07
-86.71
LP
-97.49
111.73
-187
EO (net of tax)
0.00
0.00
0.00
0.00
0.00
0.00
PAT after EO
18.54
-35.39
LP
21.07
-86.71
LP
-97.49
111.73
-187
Minority Interest
0.00
0.00
0.00
0.00
0.00
0.00
PAT after MI
18.54
-35.39
LP
21.07
-86.71
LP
-97.49
111.73
-187
EPS*
#
#
#
#
-6.9
10.5
* Annualized On Current Equity Of Rs 28.26 Crore of face value of Rs 2 each
EO: Extraordinary Items, PL: Profit to Loss
EPS Is Calculated After Excluding EO And Relevant Tax
# EPS not annualised due to seasonality of business
Figures In Rs Crore
Source: Capitaline Database
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