Buy VIP Industries ; target of Rs 770: ICICI Direct

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ICICI Direct's research report on VIP Industries

VIP Industries is one of Asia’s leading sellers/manufacturers of various type of luggage, backpacks and handbags. VIP has a range of leading brands, positioned across the entire price range, catering to value (Aristocrat) mid (VIP, Skybags) and premium (Carlton, Caprese) price points. Market leader in the organised luggage space (oligopoly market) • VIP has, over the years, maintained balance sheet prudence with stringent working capital policy, virtually debt free status and healthy RoCE: 30%+.

Outlook

We maintain BUY recommendation on the stock with a revised target price. We value VIP at Rs 770 i.e. 48x FY24E EPS.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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