The promoter group led by Dilip Piramal holds slightly more than 50 percent of VIP Industries, which includes popular luggage brands such as VIP, Carlton, and Skybags.
In an interview with CNBC TV18, the chairman of VIP Industries, Dilip Piramal, talked about the company's plans for the festive season amid the recovering demand for domestic and international travel.
In his new role as MD in VIP Industries, Dutta will be responsible for managing all the business verticals and its operations.
Some business segments of VIP Industries were adversely affected by demonetisation but things are getting back to normal, says Chairman Dilip Piramal who spoke exclusively to CNBC-TV18.
The company had raised prices in April and August. It might undertake another price hike in October after assessing the current situation.
Today, JBM Group has a turnover of USD 1.2 billion and a significant market share in the auto component space. Take a look at JBM story and you will know how to create your own path.
Dilip G Piramal, chairman, VIP Industries says the canteen store department (CSD) sales have normalised now and will grow by 11-12 percent in FY14.
VIP Industries had shown smart growth in FY11 net profit. It grew 83.64% at Rs 88.7 crore, compared to Rs 48.3 crore in 2009-10. In an interview with CNBC-TV18, the company’s chairman Dilip Piramal says, he sees 40-50% growth in profit before tax (PBT) in FY12.
VIP Industries' Q4FY11 consolidated net sales were up 21% at Rs 166 crore versus Rs 137 crore, year-on-year, YoY. Its net profit was up at Rs 16.3 crore versus Rs 9.1 crore and EBIDTA margins stood at 15.5% versus 14.3%.
In an interview with CNBC-TV18, Dilip Piramal, chairman of VIP industries said,"We are looking forward to very good next year, followed by equally successful growth in the current year where we will have about 20% growth."