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Business News/ Markets / Stock Markets/  Multibagger stock surges 151% in 5 years, Board to give 125% dividend soon
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Multibagger stock surges 151% in 5 years, Board to give 125% dividend soon

With a market valuation of ₹9,980.78 crore, VIP Industries Ltd. is a mid-cap company that engages in the plastics industry

The shares of VIP Industries closed on Friday at ₹703.50 apiece, down by 0.45% from the previous close of ₹706.70. Premium
The shares of VIP Industries closed on Friday at 703.50 apiece, down by 0.45% from the previous close of 706.70.

With a market valuation of 9,980.78 crore, VIP Industries Ltd. is a mid-cap company that engages in the plastics industry. As the second-largest luggage manufacturer in the world, VIP has revolutionised the travel and baggage industries for more than 50 years. Carlton, Skybags, Aristocrat, Alfa, and Caprese are just a few of the prestigious brands in the company's business portfolio. VIP's production facilities, 2 in India and 6 in Bangladesh, have state-of-the-art equipment. The Board of Directors of the firm has announced a record date for the purpose of the 125% interim dividend that has been declared by the company.

The company has said in a stock exchange filing that its Board of Directors has “Declared an Interim Dividend of Rs. 2.50/- (Rupees Two and Fifty Paise) per equity share of face value of Rs. 2/- each for the Financial Year 2022-23. The Interim Dividend for the Financial Year 2022-23 shall be paid on or after 17 November, 2022. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has fixed Friday, 4th November, 2022 as the "record date" for the purpose of ascertaining the eligibility of shareholders for payment of Interim Dividend."

The company reported a 126.31 per cent YoY rise in net profit at 43 crore in the September quarter from 19 Cr reported in the year-ago quarter. The company reported revenue from operations of 515 Cr in Q2FY23 compared to 330 Cr in Q2FY22 representing a YoY growth of 56.06%. The company reported a total revenue of 520 Cr in Q2FY23 compared to 337 Cr in Q2FY22 representing a YoY growth of 54.30%. The company reported an EBIDTA of 77 Cr in Q2FY23 compared to 49 Cr in the same quarter last year, representing a YoY growth of 57.14% and EBIDTA margin climbed from 14.4% in Q1FY22 to 14.8% in Q2FY23. VIP Industries had a Profit before Tax (PBT) of 52 Cr in Q2FY23 compared to 25 Cr recorded in the same quarter last year, representing a YoY growth of 108% YoY.

The shares of VIP Industries closed on Friday at 703.50 apiece, down by 0.45% from the previous close of 706.70. In its last trading session, the stock recorded a total volume of 95,375 shares compared to the 20-Day average volume of 323,670 shares. In the last 5 years, the stock has generated a multibagger return of 151.21% and in the last 1 year, the stock has gained 28.03%. On a YTD basis, the stock has gained 28.41% so far in 2022. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 51.33%, FIIs holding of 8.95%, DIIs holding of 20.59% and public stake of 19.14%.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 30 Oct 2022, 05:10 PM IST
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