About VIP Industries Limited

VIP Industries Limited is an Indian luggage company founded in 1968, credited with pioneering the organised luggage industry in India through brands spanning premium, youth, value, and ladies’ handbags categories such as VIP, Skybags, Carlton, Aristocrat, Alfa, and Caprese as shown in the corporate overview brand mix and narrative sections of the Annual Report 2024-25. The Company designs, manufactures, sources, and markets hard and soft luggage, backpacks, duffle bags, and handbags, with manufacturing in Nashik/Sinnar (Maharashtra) and significant leasehold retail/distribution infrastructure across India, complemented by international operations and OEM partnerships, particularly in Bangladesh and export markets in the Middle East, Europe, and Southeast Asia as detailed in the factories list and “Exports and International Operations” section. As at March 31, 2025, consolidated revenue from operations was Rs 2,178.43 crore with operations spanning India and multiple international markets, and the Board presented the 58th Annual Report for the year ended March 31, 2025, confirming the Company’s continuing multi-brand, multi-channel strategy and global footprint. The Group had multiple subsidiaries in Bangladesh, with VIP Luggage BD Private Limited classified as a material subsidiary; other subsidiaries include VIP Industries Bangladesh Private Limited, VIP Industries BD Manufacturing Private Limited, and VIP Accessories BD Private Limited, reflecting an integrated Bangladesh manufacturing and logistics ecosystem disclosed in the consolidated notes. Key milestones in FY 2024-25 include resilience through global headwinds, re-entry into Europe, recovery momentum in the Middle East, continued OEM traction amid shifting supply chains, and recognition such as Great Place to Work certification (July 2024–July 2025) and Bronze Employer at the India Workplace Equality Index 2024, underscoring culture and inclusion priorities highlighted in the corporate overview.

VIP Industries Limited Business Segment

• Channels and brands: The report discloses sales salience visuals indicating channel-wise, brand-wise, and category-wise revenue salience across General Trade, Retail Trade, Modern Trade, E-commerce, CSD/CPC, Institutional, and International, and brands VIP, Skybags, Aristocrat, Alfa, Caprese, and Carlton, and categories such as Upright Hard/Soft Luggage, Duffle Bags, Backpacks, and Ladies Handbags; percentage labels are depicted within graphics without explicit numeric tables, so only the structure is noted here per the Annual Report visuals.

VIP Industries Limited Key Management

• Dilip Piramal — Chairman (Non-Executive, Non-Independent).

• Radhika Piramal — Executive Vice Chairperson (re-appointed for five years w.e.f. April 7, 2024).

• Neetu Kashiramka — Managing Director.

• Ashish Saha — Executive Director; heads India manufacturing and new projects.

• Manish Desai — Chief Financial Officer.

• Ashitosh Sheth — Company Secretary and Head–Legal (appointed August 7, 2024).
  

Latest Updates on VIP Industries Limited

• Re-appointment of Radhika Piramal as Executive Vice Chairperson for five years from April 7, 2024, approved via postal ballot on May 5, 2024.

• Re-appointment of Independent Directors Tushar Jani and Ramesh Damani for second five-year terms from May 7, 2024, approved via postal ballot on May 5, 2024.

• Appointment of Independent Director Payal Kothari for five years w.e.f. August 30, 2024, approved on October 29, 2024.

• Continuation of Chairman Dilip Piramal as Non-Executive, Non-Independent Director upon attaining 75 years, approved October 29, 2024.

• International: Middle East recovery; re-entry into Europe; OEM opportunities amid U.S.–China trade shifts; Europe and Southeast Asia impacted by slowdown and currency volatility, with long-term positioning sustained.

Recognition: Great Place to Work certification July 2024–July 2025; Bronze Employer at India Workplace Equality Index 2024.