Moneycontrol PRO
Upcoming Event:Super25 3.0- India’s Largest Online Stock Traders Conference brought to you by Moneycontrol Pro & Espresso
you are here: HomeNewsBusiness

Q1 historically strong quarter, re-opening schools improved demand, says Dilip G Piramal

VIP Industries’ market share is at 47 percent and the target is 50 percent, Chairman Dilip G Piramal told CNBC-TV18

March 29, 2022 / 01:05 PM IST
Dilip G Piramal, Chairman of VIP Industries (Image Source: VIP Industries / www.vipindustries.co.in)

Dilip G Piramal, Chairman of VIP Industries (Image Source: VIP Industries / www.vipindustries.co.in)

Re-opening of schools has improved the demand for backpacks, Dilip G Piramal, chairman of India’s largest luggage manufacturer VIP Industries, told CNBC-TV18 on March 29, adding that historically, Q1 has been the strongest quarter for the company.

Piramal further said that blended price hikes in Q4 have been around 5 percent. The company’s market share was at 47 percent and its target was 50 percent.

“Sourcing from China has declined from 60 percent to 10 percent,” Piramal said, adding Bangladesh was expected to give the company 50 percent of its total units.

“Margin has been volatile due to input costs and uncertain factors. We have a target of achieving Rs 2,000 crore revenue in FY23 with margin in mid-teens,” he added.

Watch the full interview here

Close

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

The company reported its consolidated quarterly numbers in December 2021. Net Sales were at Rs 397.34 crore in December 2021, up 70.82 percent from Rs 232.61 crore in the year-ago period. The quarterly net profit was at Rs 33.48 crore in December 2021, up 578.29 percent from Rs 7 crore in December 2020.

EBITDA stood at Rs 66.57 crore in December 2021, up 262.78 percent from Rs 18.35 crore in December 2020 and VIP Industries EPS increased to Rs 2.37 in December 2021 from Rs 0.51 in December 2020.

Find more business, companies and coronavirus related stories here



Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Moneycontrol News
first published: Mar 29, 2022 01:05 pm
Sections
ISO 27001 - BSI Assurance Mark