The VIP Industries stock had a stellar run till January but is now down 20 percent from its 52-week high in the last one month. Weakness in the rupee has hit their business as 70 percent of their revenue comes from soft luggage that is imported from China. In an interview to CNBC-TV18, Dilip Piramal, Chairman of VIP Industries spoke about the latest happenings in his company and sector.
If goods and services tax (GST) is 28 percent and it comes down to 18 percent, prices will automatically get reduced and will be passed on to the consumers, Dilip G Piramal, Chairman of VIP Industries said.
The VIP Industries stock has been up 30 percent in the last three months. In an interview to CNBC-TV18, Dilip G Piramal, Chairman of the company spoke about the latest happenings and how business is panning out.
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.
In an interview with CNBC-TV18, VIP Industries Chairman Dilip G Piramal talked about his outlook on the festive season and business in general.
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.
CNBC-TV18‘s Pavni Mittal caught up exclusively with company MD Radhika Piramal to understand how she plans to achieve that target.
Dilip Piramal, chairman, VIP says the company is likely to see good numbers in the days to come as Q1 FY15 is seasonally a strong quarter.
The company had raised prices in April and August. It might undertake another price hike in October after assessing the current situation.
VIP Industries, one of the biggest luggage makers had recently launched new product in its line up. Generally, April-May-June quarter is the most important quarter for the company.
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.
Dilip G Piramal, Chairman, VIP Industries in an interview with CNBC-TV18 spoke about the latest happenings in the company and the road ahead.
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.
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."