Buy VIP Industries, target price Rs 770: ICICI Direct

ICICI Direct has buy call on VIP Industries with a target price of Rs 770. The current market price of VIP Industries is Rs 635.2. Time period given by analyst is one year when VIP Industries Ltd. price can reach defined target.

VIP Industries Ltd., incorporated in the year 1968, is a Mid Cap company (having a market cap of Rs 8984.27 Crore) operating in Plastics sector.

VIP Industries Ltd. key Products/Revenue Segments include Soft Luggage, Scrap and Export Incentives for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 361.73 Crore, down -11.07 % from last quarter Total Income of Rs 406.74 Crore and up 39.50 % from last year same quarter Total Income of Rs 259.30 Crore. Company reported net profit after tax of Rs 12.39 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 50.39 per cent stake in the company as of 31-Mar-2022, while FIIs owned 8.63 per cent, DIIs 21.36 per cent.