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.
In an interview with CNBC-TV18, Dilip G Piramal, Chairman of VIP Industries spoke about the results and his outlook for the company.
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 had a dream run this year with an over 150 percent gain so far this year and they have posted a good set of earnings in Q2 as well. In an interview to CNBC-TV18, Dilip G Piramal, Chairman, VIP Industries spoke about the results and his outlook for the company.
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.
VIP Industries is in focus after the company posted a good set of Q1 earnings. In an interview to CNBC-TV18, Dilip G Piramal, Chairman of the company spoke about the results and his outlook for the company.
In an interview to CNBC-TV18, Dilip G Piramal, Chairman of VIP Industries spoke about the results and the latest happenings on the goods and services tax (GST) front.
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.
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. â€œWe are gaining our market share and we are confident.â€
In an interview with CNBC-TV18, VIP Industries Chairman Dilip G Piramal talked about his outlook on the festive season and business in general.
"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.
Dilip G Piramal, Chairman, VIP Industries is hopeful of clocking a 15 percent topline growth in FY16. The company has received a big institutional order of Rs 50 crore from CSD segment.
VIP Industries' third quarter net profit fell 15.3 percent year-on-year to Rs 8.5 crore, impacted by weak operational performance. However, the fall in bottomline was restricted by exceptional gain of Rs 6 crore.
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.
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.
The company had raised prices in April and August. It might undertake another price hike in October after assessing the current situation.
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, VIP Industries says the canteen store department (CSD) sales have normalised now and will grow by 11-12 percent in FY14.
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.