5078802026-01-012026-03-315078802026-03-315078802025-03-315078802025-04-012026-03-315078802026-01-012026-03-31in-capmkt:OtherExpenses1Member5078802025-04-012026-03-31in-capmkt:OtherExpenses1Member5078802026-03-31OtherNoncurrentFinancialAssetsDomain15078802026-03-31OtherNoncurrentAssetsDomain15078802026-03-31OtherCurrentFinancialAssetsDomain15078802026-03-31OtherCurrentFinancialAssetsDomain25078802026-03-31OtherNoncurrentFinancialLiabilitiesDomain15078802026-03-31OtherNoncurrentFinancialLiabilitiesDomain25078802026-03-31OtherNoncurrentLiabilitiesDomain15078802026-03-31OtherCurrentFinancialLiabilitiesDomain15078802026-03-31OtherCurrentFinancialLiabilitiesDomain25078802026-03-31OtherCurrentLiabilitiesDomain15078802026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15078802025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15078802026-01-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15078802025-04-012026-03-31ItemsThatWillBeReclassifiedToProfitAndLoss15078802026-01-012026-03-31AuditorDomain1iso4217:INRiso4217:INRxbrli:shares507880VIPINDNOTLISTEDINE054A01027VIP Industries LimitedMain BoardEquity2025-04-012026-03-312026-05-152026-05-11INRCroresQuarterlyFourth quarterSingle segmentManufacturing of luggage and travel accessories2026-05-1513:58:002026-05-1516:25:00trueCash Flow IndirectDeclaration of unmodified opinion2026-01-012026-03-31AuditedConsolidated4362300000372000004399500000212610000050260000010910000054720000020120000030730000018993000005692800000-12933000005300000-1288000000-101000001110000010000000-12890000000000-128900000028000000-1261000000-12890000000-126100000002841000002-9.07-9.0700-9.07-9.071 The results for the Quarter and Year ended March 31, 2026 were reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meetings held on May 15, 2026. The above results for the year ended March 31, 2026 have been audited 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 Company's 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 Year ended March 31, 2026, 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 Limited and 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 4,54,46,305 equity shares held by the Sellers in the Company constituting approximately 32% 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> <BR> In this regard, the Shareholder's Agreement (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. Pursuant to share purchase agreement dated July 13, 2025, transfer of shares through open market acquisitions was completed during the year. <BR> 6 Exceptional item disclosed above includes the following : <BR> Sr No Particulars Standalone Qtr Mar 31 2026 Standalone Qtr Dec 31 2025 Standalone Year Mar 31 2026 Consolidated Qtr Mar 31 2026 Consolidated Qtr Dec 31 2025 Consolidated Qtr Mar 31 2025 Consolidated Year Mar 31 2026 Consolidated Year Mar 31 2025 <BR> 1 Gain towards sale of non-core assets (Refer note 10) - 63.53 63.53 - 63.53 - 63.53 - <BR> 2 Receipt of the insurance claim from the Insurance Company relating to loss of property, plant and equipment and inventories that were destroyed due to a fire at the Company’s regional warehouse at Guwahati on May 17, 2025 0.53 4.04 4.57 0.53 4.04 - 4.57 - <BR> 3 Partial receipt of the insurance claim from the Insurance Company relating to loss of property, plant and equipment and inventories that were destroyed due to a major fire at a plant of the Company’s subsidiary (VIP Industries Bangladesh Private Limited) located in Bangladesh, on January 31, 2023 - - - - 3.67 4.25 15.15 7.83 <BR> 4 Impact for loss of property, plant and equipment and inventories that were destroyed due to a fire at the Company’s regional warehouse at Guwahati on May 17, 2025 - - (5.07) - - - (5.07) - <BR> <BR> Total 0.53 67.57 63.03 0.53 71.24 4.25 78.18 7.83 <BR> <BR> 7 The Nomination and Remuneration Committee of the Board of Directors of the Company at its various meetings held during the year, approved to grant 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 year ended March 31, 2026, the Company has granted 7,20,000 stock appreciation rights to eligible employees resulting in a net expense of Rs. 2.23 Crores during the year ended March 31, 2026. Further, 88,000 and 3,53,000 ESAR's have been lapsed/forfeited during the quarter and year ended March 31, 2026 respectively. During the quarter and year ended March 31, 2026, the eligible employees of the Company exercised 4,000 and 1,78,900 stock appreciation rights respectively, in accordance with the terms and conditions of the VIP Employees Stock Appreciation Rights plan 2018. Consequently the Company has issued 412 fully paid up equity shares of Rs 2 each of the company during the quarter ended March 31, 2026 and a cumulative of 32,142 fully paid up equity shares of Rs 2 each of the Company during the year ended March 31, 2026, to the eligible employees, as approved by the Allotment Committee of the Board of Directors of the Company. Accordingly the company has transferred Rs. 4.75 Crores to the Securities Premium during the year ended March 31, 2026. <BR> 8 The Company was involved in an ongoing litigation regarding the use of a trademark. The Division Bench of Hon’ble 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 Hon’ble Supreme Court of India against the order of the Division Bench of Hon’ble Delhi High Court. The Hon’ble Supreme Court of India vide its order dated August 01, 2025 disposed off the special leave petition allowing the Company six months to sell the existing stock subject to conditions mentioned therein. The Hon’ble Supreme Court of India vide its order dated January 23, 2026 has granted a further extension of four months to continue selling the Carlton luggage. The aforesaid matter remains sub-judice and based on legal opinion the management has assessed that the Company has strong merit in respect of the aforesaid matter. <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 acknowledged as 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 had identified certain assets of the Company currently being classified as Property Plant and Equipment and Investment Properties, as non-core assets of the Company. <BR> <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 and December 29, 2025 have approved the transaction for the sale of the above mentioned assets to the identified entities at an arm’s length basis and in accordance with the price arrived as per the valuation report. The Company has completed the said sale transaction for part of the non-core assets during the quarter ended December 31, 2025. The gain on the sale of assets is as per note 6 above. The remaining of the non-core 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, pursuant to provisions of the Ind AS 105 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. <BR> 11 The standalone results include a provision towards inventories amounting to Rs. 93.74 Crores accrued during the year ended March 31, 2026 (March 31, 2025 : Rs. 4.28 Crores). Further, the consolidated results include a provision towards inventories amounting to Rs. 122.66 Crores accrued during the year ended March 31, 2026 (March 31, 2025 : Rs. 7.53 Crores). <BR> 12 The Company has restricted the recongnition of Deferred Tax Assets in the standalone financial statements considering the recent changes in the shareholding and management and review of business plans (please refer note 5 above). <BR> 13 The Government of India has consolidated multiple existing labour legislations into a unified framework comprising four Labour Codes collectively referred to as the 'New Labour Codes' notified on November 21, 2025. The Company has assessed the impact of these changes and based on actuarial valuation has recognised an estimated additional provision of Rs. 3.63 Crores towards gratuity and long-term compensated absenses in the results under 'Employees Benefits Expenses'. <BR> 14 There was a proceeding of investigation/search initiated in respect of the Goods and Service Tax (GST) registration of the Company for Maharashtra state under section 67 of the Maharashtra Goods & Service Tax Act, 2017 and the Central Goods & Service Tax Act, 2017 during the year. The Company has paid a GST amounting to Rs. 14.11 Crores, comprising of tax of Rs. 8.63 Crores which is available as Input tax credit and Interest of Rs. 4.78 Crores which along with certain other ineligible tax credit totaling to Rs. 5.48 Crores has been expensed off. There is no material adverse impact on the financial position of the Company. <BR> 15 The figures of the quarters ended March 31, 2026 and March 31, 2025 are balancing figures between the audited figures in respect of the full financial year ended on March 31, 2026 and March 31, 2025 and the unaudited published year to date figures upto third quarters ended on December 31, 2025 and December 31, 2024 respectively, which were subjected to Limited review by the Statutory Auditors.2025-04-012026-03-31AuditedConsolidated185813000002236000001880490000079968000002073100000177740000021799000007034000001272900000696340000022966900000-4162000000781800000-338020000029900000-30000000-1000000-33801000000000-338010000075500000-3304600000-33801000000-3304600000028410000022610900000-23.79-23.7900-23.79-23.79Other Expenses1899300000Other Expenses6963400000206740000014580000046100000029589000000002560000000289700000315300000543500000245000006101500000472450000070410000027054000003171000001383000000109610000049610000002329000009918400000223000001604220000028410000026109000002895000000289500000000002647500000264750000017400000000500000282200000041075000005024000003987700000449010000076790000093655000008162000001406000002900000103252000001314720000016042200000Other financial assets289700000Other non-current assets24500000Other financial assets108600000Other current assets987500000Lease liabilities2639400000Other financial liabilities8100000Other non-current liabilities500000Lease liabilities630800000Other financial liabilities137100000Other current liabilities81620000070340000022596000008758000000-43200000000058210000006940000001272900000044600000000904000000037800000-97000000-768700000010780000005222200000184200000000-11500000210000000180950000000000000716500000479700000000000000000000000114000000-731400000-4832000000010000000000-451000000909600000460000042960000000-1388800000-625000000-62500000379600000317100000Amount of items that will not be reclassified to profit and loss-25900000-25900000Amount of items that will not be reclassified to profit and loss-21700000-21700000-4500000-2400000Amount that will be reclassified to Profit or Loss4940000049400000Amount that will be reclassified to Profit or Loss9480000094800000002800000075500000AuditedtrueM/s Price Waterhouse Chartered Accountants LLPtrue2026-11-30