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Buy VIP Industries ; target of Rs 770: ICICI Direct

ICICI Direct is bullish on VIP Industries has recommended buy rating on the stock with a target price of Rs 770 in its research report dated May 18, 2022.

May 19, 2022 / 12:40 PM IST
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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%+.


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

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first published: May 19, 2022 12:40 pm