5078802025-07-012025-09-305078802025-09-305078802025-03-315078802025-04-012025-09-305078802025-07-012025-09-30in-capmkt:OtherExpenses1Member5078802025-04-012025-09-30in-capmkt:OtherExpenses1Member5078802025-07-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15078802025-04-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15078802025-07-012025-09-30ItemsThatWillBeReclassifiedToProfitAndLoss15078802025-04-012025-09-30ItemsThatWillBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares507880VIPINDNOTLISTEDINE054A01027VIP Industries LimitedMain BoardEquity2025-04-012026-03-312025-11-142025-11-10INRCroresQuarterlySecond quarterSingle segmentManufacturing of luggage and travel accessories2025-11-1413:00:002025-11-1416:05:00trueCash Flow IndirectNot applicable2025-07-012025-09-30UnauditedConsolidated40634000001073000004170700000207360000057910000016630000052810000017600000032990000017802000005633200000-146250000043200000-1419300000104000001700000121000000-14314000000000-143140000038800000-1392600000-14314000000-139260000002841000002-10.08-10.0700-10.08-10.071 The results for the quarter and half year ended September 30 2025 were reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meetings held on November 14 2025 <BR> The above results for the quarter and half year ended September 30 2025 have been reviewed by the Statutory Auditors of the Company in terms of Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations 2015 as amended <BR> 2 This statement has been prepared in accordance with the Companies Indian Accounting Standards Rules 2015 Ind AS prescribed under section 133 of the Companies Act 2013 and other recognised accounting practices and policies to the extent applicable <BR> 3 The Companys business segment consists of a single segment of Manufacturing and marketing of luggage and bags as per Indian Accounting Standard Ind AS 108 Operating segment requirement <BR> 4 The consolidated financial results for the quarter and half year ended September 30 2025 include the results of its subsidiary companies viz VIP Industries Bangladesh Private Limited VIP Industries BD Manufacturing Private Limited VIP Luggage BD Private Limited VIP accessories BD Private Limitedand Blow Plast Retail Limited <BR> 5 Certain entities forming part of the promoter group the Sellers of the Company have entered into an agreement with Multiples Private Equity Fund and other parties the Purchasers for the sale of up to 45446305 equity shares held by the Sellers in the Company constituting approximately 32 percent of the total paid up share capital of the Company The Company received the approval granted by the Competition Commission of India vide its letter dated August 26 2025 and an intimation has been filed with the stock exchanges on August 26 2025 <BR> In this regard the SHA has become effective from September 23 2025 and the Multiples group has acquired Control and have been classified as Promoters of the Company An intimation in this regard has been filed with the stock exchanges on September 23 2025 <BR> 6 The Exceptional Item disclosed above in the standalone results for the quarter ended June 30 2025 and half year ended September 30 2025 includes loss of Rs 5.07 Crores relating to loss of property plant and equipment and inventories that were destroyed due to a fire at the Companys regional warehouse at Guwahation May 17 2025 The Company has initiated its insurance claim process and considering the Companys insurance policy it expects the loss to be adequately covered <BR> In addition to the loss of Rs 5.07 Crores referred above the exceptional Item disclosed in the consolidated results for the quarter ended June 30 2025 and half year ended September 30 2025 also includes an income of Rs 7.00 Crores and Rs 11.32 Crores respectively against a partial receipt of the insurance claim from the insurance company relating to a loss of property plant and equipment and inventories that were destroyed due to a major fire at a plant of the Companys subsidiary VIP Industries Bangladesh Private Limited located <BR> in Bangladesh on January 31 2023 Accordingly the net income of Rs 1.93 Crores and Rs 6.25 Crores has been disclosed as exceptional item for the quarter ended June 30 2025 and half year ended September 30 2025 in the consolidated results above <BR> The Exceptional Item disclosed above in the consolidated results for the quarter ended September 30 2025 quarter and half year ended September 30 2024 and year ended March 31 2025 relates to a partial receipt of the above mentioned insurance claim from the insurance company <BR> 7 The Nomination and Remuneration Committee of the Board of Directors of the Company at its meetings held on August 06 2025 and September 23 2025 approved grant of new stock appreciation rights to eligible employees of the Company in accordance with the terms and conditions of the VIP Employees Stock Appreciation Rights plan 2018 named ESARP 2018 as approved by the shareholders of the Company on July 17 2018 Accordingly during the current quarter ended September 30 2025 the Company has granted 360000 stock appreciation rights to eligible employees resulting in a net expense of Rs 0.19 Crores during the quarter ended September 30 2025 Further 175000 and 215000 ESARs have been lapsed or forfeited during the quarter and half year ended September 30 2025 respectively During the quarter ended September 30 2025 the eligible employees of the Compan yexercised 101900 stock appreciation rights in accordance with the terms and conditions of the VIP Employees Stock Appreciation Rights plan 2018 Consequently the <BR> Company has issued 25142 fully paid-up equity shares of Rs 2 each during the current quarter ended September 30 2025 to the eligible employees as approved by the Allotment Committee of the Board of Directors of the Company Accordingly the Company has transferred Rs 2.50 Crores to the Securities Premium during the half year ended September 30 2025 <BR> 8 The Company was involved in an ongoing litigation regarding the use of a trademark The Division Bench of Honble Delhi High Court vide order dated July 1 2025 has dismissed the appeal filed by the Company against the interim order granting injunction in favour of the Company dated July 17 2023 The Company had filed a special leave petition before the Honble Supreme Court of India against the order of the Division Benchof Honble Delhi High Court The Honble Supreme Court of India vide its order dated August 01 2025 disposed <BR> off the special leave petition allowing the Company six months to sell the existing stock subject to conditions mentioned therein <BR> 9 A commercial Suit is filed against the Company at Bombay City Civil Court by a Company based in China in respect of commercial dispute for recovery of amount of Rs 6.41 crores towards supply of material to the Company not acknowledgedas debts The Company is defending the matter and has obtained an independent legal opinion and accordingly no provision for any liability has been made in the financial results <BR> 10 The Company has identified certain assets of the Company which were classified as Property Plant and Equipment and Investment Properties as non-core assets of the Company having a book value aggregating Rs 3.89 Crores and a fair value as determined by an independent valuer of Rs 116.17 Crores <BR> Pursuant to the applicable provisions of the Companies Act 2013 and the related applicable Rules the Board at its meeting held on September 16 2025 has approved the transaction for the sale of the above mentioned assets to the identified entities in accordance with the price arrived as per the independent valuation report Pursuant to provisions of the Ind AS 105 and SEBI Listing Obligations and Disclosure Requirements Regulations 2015 the said assets have been classified as Current Assets held for Sale and have accordingly been disclosed separately at carrying value at cost in the statement of Assets and Liabilities <BR> 11 The standalone results include a provision towards inventories amounting to Rs 12.70 Crores Rs 45.51 Crores and Rs 58.21 Crores accrued during the quarter ended June 30 2025 quarter ended September 30 2025 and half year ended September 30 2025 respectively <BR> Further the consolidated results include a provision towards inventories amounting to Rs 12.70 Crores Rs 54.95 Crores Rs 67.65 Crores and Rs 3.37 Crores accrued during the quarter ended June 30 2025 quarter ended September 30 2025 half year ended September 30 2025 and for the year ended March 31 2025 respectively <BR> 12 Deferred Tax Asset has not been accounted for the current quarter considering the recent changes in the shareholding and management and review of business plans also refer note 52025-04-012025-09-30UnauditedConsolidated96777000001535000009831200000411060000011820000006134000001072000000342600000645800000351710000011483500000-165230000062500000-158980000022900000-50300000-274000000-15624000000000-156240000030400000-1532000000-15624000000-153200000002841000002-11-10.9900-11-10.99Other Expenses1780200000Other Expenses351710000018974000001482000004380000003155500000160000000393000000030230000034160000055650000034270000064873000005913500000350000033822000003031000001351000000153200000397710000008041000001069470000003890000017220900000284100000435440000046385000000463850000000002810100000281010000016840000000500000297900000043765000003715000003331400000370290000063790000087173000007461000001282000001180000009603400000001258240000017220900000010706000002897000000655000000000-1825000000545000000645800000025600000000314000000091000003426000000-1102000000149000000225700000066720000000-5100000301000000632000000000000001390000024570000000000000000000000060000000-39300000-26510000000100000000002240000000460700000360000020320000000-443400000-765000000-76500000379600000303100000Items that will not be reclassified to Profit or Loss-6700000-6700000Items that will not be reclassified to Profit or Loss-10700000-10700000-100000-700000Items that will be reclassified to Profit or Loss4540000045400000Items that will be reclassified to Profit or Loss4040000040400000003880000030400000