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Swing Capital

VIP Clothing Ltd

NSE: VIPCLOTHNG BSE: 532613

Incorporated in 1991, VIP Clothing Ltd is a manufacturer, marketer, and distributor of Men’s and Women’s inner wear and socks[1]

₹26.2
52W: ₹14 — ₹45.2
PE 30.1 · Book ₹21 · +25% vs book
Market Cap₹235 Cr
Stock P/E30.1Price to Earnings
ROCE6.21%Return on Capital
ROE3.38%Return on Equity
Div. Yield0%Face Value ₹2

Strengths

  • +Company has delivered good profit growth of 18.8% CAGR over last 5 years

Weaknesses

  • −The company has delivered a poor sales growth of 6.58% over past five years.
  • −Company has a low return on equity of -1.19% over last 3 years.
  • −Company has high debtors of 152 days.
  • −Promoter holding has decreased over last 3 years: -3.03%

Shareholding Pattern

Promoters46.55%
FIIs0.15%
DIIs0%
Public53.28%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters49.58%49.58%46.55%▼3.046.55%46.55%46.55%46.55%46.55%
FIIs0.03%0%▼0.00.45%▲0.50.48%▲0.00.48%0.5%▲0.00.46%▼0.00.15%▼0.3
DIIs0%0%0%0%0%0%0%0%
Public50.38%50.42%▲0.053%▲2.652.98%▼0.052.96%▼0.052.94%▼0.052.99%▲0.153.28%▲0.3

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales52.3544.8932.3850.1259.2362.6364.9165.4566.0750.78
Expenses51.6746.0240.2147.3155.8257.9459.1659.2159.9347.11
Operating Profit0.68-1.13-7.832.813.414.695.756.246.143.67
OPM %1.3%-2.52%-24.18%5.61%5.76%7.49%8.86%9.53%9.29%7.23%
Net Profit-2.48-3.38-7.40.230.8122.422.222.240.93
EPS ₹-0.3-0.41-0.90.030.090.220.270.250.250.1

AI Insights

Revenue Trend

TTM revenue at ₹247Cr, up 4.2% YoY. OPM at 9%.

Debt Position

Borrowings at ₹76Cr. Debt-to-equity ratio: 0.44x. Healthy balance sheet.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0.15% (-0.32pp change). Promoters hold 46.55%.

Margin & Efficiency

ROCE declining from 11% (Mar 2014) to 6% (Mar 2025). Working capital days: 131.

Valuation

PE 30.1x with 6.21% ROCE. Price is 25% above book value of ₹21. Dividend yield: 0%.

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