We feel the sector offers great potential and VIP is a strong player to ride the tailwinds
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PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
The first quarter of a financial year is the biggest for luggage companies. For VIP (CMP: Rs 649 Market Cap: Rs 9190 crore), after a long wait of two years, Q1 FY23 turned out to be a normal quarter from the demand perspective. The company did not lose the opportunity with revenues crossing the pre-pandemic level. Gross margin, which has been on an upwards trajectory with the preponderance of own manufacturing, was subdued thanks to the steep increase in…
