VIP Industries revenue falls 3% despite volume growth

VIP Industries Limited reported a 3% decline in consolidated net revenue to ₹2,178 crores for FY2025, down from ₹2,245 crores previously. Despite this, the company achieved 11% volume growth driven by hard luggage and backpacks, gaining market share in India's organized luggage segment.

Profitability came under pressure with EBITDA falling to ₹93 crores (4% margin) from ₹205 crores (9% margin) the previous year. Profit before tax was negative ₹99 crores.

The company significantly improved working capital, reducing inventory from 65 lakh units to 38 lakh units and freeing up over ₹200 crores. Operational cash flow turned positive at ₹292 crores from negative ₹131 crores previously.