'Sell' VIP Industries Shares Says IDBI Capital Post Weak Q2 Results Amid Ownership Changes

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IDBI Capital Report

VIP Industries Ltd. has been reporting weak financial results over past couple of years, due to headwinds such as top level management exits, intense price competition from new entrants and margin pressure from slow moving soft luggage inventory.

Furthermore, VIP has been barred from using the ‘CARTON’ brand which accounted for 7% of Q1 FY26 revenue with above average margins, further hindering its performance.

In light of the recent change, there has been a lack of a clear communication from management regarding strategic initiatives and turnaround timelines.

Coupled with brand headwinds and subdued channel performance, we remain cautious on the VIP’s near- to medium-term outlook.

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