Buy VIP Industries, target price Rs 855: HDFC Securities

HDFC Securities has buy call on VIP Industries with a target price of Rs 855. The current market price of VIP Industries Ltd. is Rs 720.8.

VIP Industries Ltd., incorporated in the year 1968, is a Mid Cap company (having a market cap of Rs 10226.96 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-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 520.02 Crore, down -12.99 % from last quarter Total Income of Rs 597.66 Crore and up 54.40 % from last year same quarter Total Income of Rs 336.79 Crore. Company reported net profit after tax of Rs 43.40 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 51.33 per cent stake in the company as of 30-Sep-2022, while FIIs owned 8.84 per cent, DIIs 20.58 per cent.