VIP Industries Limited filed a regulatory disclosure under SEBI Listing Regulations Regulation 30, containing their Q2 FY27 financial results and business update.

The Board of Directors approved the financial results for the second quarter and half year ended September 30, 2026.

Financial Performance Q2 FY27:

  • Consolidated income from operations: ₹468 crore, up 15% YoY (from ₹406 crore in Q2 FY26)
  • EBITDA loss: ₹27 crore (-6% margin), significantly improved from ₹96 crore loss (-24% margin) in Q2 FY26
  • Gross margin (excluding inventory provisions): Improved sequentially from 39% in Q1 FY27 to 44% in Q2 FY27

Operational Highlights:

  • Revenue growth accelerated from 3% in Q1 to 15% in Q2, representing the highest growth in over 2 years
  • Growth driven by successful launch of over 50 new product ranges across VIP, Skybags and Aristocrat brands
  • New products contributed approximately 45% of Hard luggage and Backpack sales
  • Product innovations included consumer-led features: front-opening laptop access, silent and suspension wheels
  • Premiumization strategy moving portfolio up the price ladder with feature-rich ranges
  • VIP and Skybags footprint expanded with 2x increase in outlets billed Year-over-Year
  • Savoy Paris soft launched in September 2026 to complete the portfolio
  • National brand campaign executed across TV, OTT and airports

Management Commentary:

Managing Director Atul Jain stated: "Our mission is to make every journey better for Indians, and product is at the heart of it. The 15% revenue growth this quarter has been led by new and innovative products, steeped in consumer research, that are changing the face of VIP, Skybags and Aristocrat in the market. We are also moving our portfolio up the price ladder – with premium launches across our brands. This has helped us steadily improve gross margins despite raw material inflation."

Forward Outlook:

  • Targeting sustained double-digit growth
  • Sharply focused on achieving break-even and clear path to profitability
  • Further gross margin increase expected in H2 FY27
  • Priorities for Q3/H2 FY27 include maintaining growth momentum and margin improvement

Regulatory Reference: Disclosure made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.