VIP Industries’ market share is at 47 percent and the target is 50 percent, Chairman Dilip G Piramal told CNBC-TV18
Speaking to CNBC-TV18 after VIP Industries announced its Q2 results for this fiscal year, Dilip G Piramal its Chairman said that their overall market position is very good. “We are gaining our market share and we are confident.â€
"Our margin growth is good and that is giving us a good satisfaction", Dilip G Piramal, Chairman of VIP Industries told CNBC-TV18. Due to lack of institutional order, the company will revise its growth forecast downwards to 10 percent from 15 percent, he added.
Fourth quarter revenues, which grew at near 12 percent, were aided by a 2-3 percent rice in prices and by an increase in volumes, says the company‘s Dilip G Piramal, Chairman of VIP Industries.
The past several quarters for VIP Industries have fared well for the company, thanks in part to a series of high-profile campaigns the company has come out with starring Hrithik Roshan, Varun Dhawan and Alia Bhatt, says Chairman Dilip Piramal.
Dilip G Piramal, Chairman of VIP Industries, says the company has gained market share in recent times on the back of growing demand in air travel.
The company will now focus on consolidating its current brand portfolio and increase its ad spends to build all the big brands, says Dilip G Piramal, chairman of VIP Industries.
Net profit of the company jumped to Rs 10.10 crore in Q3FY14 from Rs 3.5 crore, reported in the same period last fiscal.
Dilip G Piramal, Chairman,VIP Industries is confident of maintaining margins at current levels and expects margins to improve on back of volume growth.
VIP Industries' net sales were up 8 percent at Rs 327 crore against Rs 303 crore year-on-year. Also, its net profit was down 2.1 percent at Rs 23.0 crore versus Rs 23.5 crore Y-o-Y.
Dilip G Piramal, chairman of VIP Industries told CNBC-TV18 that company‘s business is going through a tough phase now due to slowdown in the Indian economy.
Currently holding a share of 57% in domestic markets, VIP Industries sees some pick up in the domestic manufacturing segment. In an interview with CNBC-TV18, Dilip G Piramal, Chairman, VIP Industries expect topline growth of 15% for FY13.
Luggage maker VIP Industries reported a net profit of Rs 10.9 crore in Q2FY12 against Rs 12.6 crore year-on-year (Y-o-Y). Dilip G Piramal, chairman, VIP Industries expects sales to be lower on the back of sluggish international sales.
Dilip G Piramal, Chairman, VIP Industries in an interview to CNBC-TV18 said, growth in first quarter was low because of larger base and slowdown in international sales.
Dilip G Piramal, Chairman, VIP Industries in an interview with CNBC-TV18 spoke about the latest happenings in the company and the road ahead.
India's largest and oldest travel wear-maker VIP Industries gained 162.09% in the fiscal year 2011.
Private equity major Blackstone India has bought the 2% stake in VIP Industries through an open market transaction. The entire share buy is valued at around Rs 36-40 crore.
The chairman of VIP Industries, Dilip G Piramal, in an interview on CNBC-TV18, gave his perspective of the third quarter performance and divulged the company's future plans.