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'Sell' VIP Industries Shares Says IDBI Capital Post Weak Q2 Results Amid Ownership Changes
Following the change in ownership, Atul Jain has been appointed as new MD, replacing Neetu Kashiramka, along with the resignation of other directors.
17 Nov 2025, 05:26 PM IST 
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Mr. Dilip Piramal and his associates have entered into an agreement to sell 32% stake in the company to a consortium led by Multiples Private Equity Fund and others.
(Source: representative image/ Freepik)
VIP Industries' disappointing Q2 performance is primarily driven by the change in ownership and ongoing management transition. Revenue declined 25% YoY to Rs 4.1 billion, with gross margins contracting from 45.1% to 30.6% in Q2 FY26, indicating a sharp clean-up of the books.
