External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>VIP Industries’Q4FY23 numbers missed our estimates due to a fire incident at 1/8 Bangladesh Factory which affected 8-10% of its Bangladesh production.</li><li>ConsolidatedRevenue missed our estimate by 28.5 % (+26%/-14.4% YoY/QoQ).</li><li>Gross margins improved due to fundamental cost efficiencies and softening input costs.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

VIP Industries’Q4FY23 numbers missed our estimates due to a fire incident at 1/8 Bangladesh Factory which affected 8-10% of its Bangladesh production.ConsolidatedRevenue missed our estimate by 28.5 % (+26%/-14.4% YoY/QoQ).Gross margins improved due to fundamental cost efficiencies and softening input costs.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

VIP Industries Ltd - Down But Not Beaten, Structural Story Intact!

Thematic (Sector/Industry)

<ul><li>It gives us immense joy to share with you our latest published report – Union Budget 2023-24: Post Budget Analysis &amp; Stock Ideas.</li><li>The report contains 10 carefully selected stocks that we believe are well-placed to benefit from the Union Budget 2023-24.</li><li>Weekly Earnings Wrap is a highly actionable report containing key highlights of the result updates published in the preceding week along with all Upgrades, Downgrades, and No Change recommendations. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

It gives us immense joy to share with you our latest published report – Union Budget 2023-24: Post Budget Analysis &amp; Stock Ideas.The report contains 10 carefully selected stocks that we believe are well-placed to benefit from the Union Budget 2023-24.Weekly Earnings Wrap is a highly actionable report containing key highlights of the result updates published in the preceding week along with all Upgrades, Downgrades, and No Change recommendations. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Key Highlights of the Month – Fundamental

<ul><li>Increasing the distribution network leading to customer accessibility along with the focus on digital presence and performance marketing will yield results in the coming quarters.</li><li>Realignment of business along with several tailwinds for the structural story reassures our confidence in the company’s growth prospects</li><li>The company continues to focus on offering a diverse range of products with niche branding across target segments.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Increasing the distribution network leading to customer accessibility along with the focus on digital presence and performance marketing will yield results in the coming quarters.Realignment of business along with several tailwinds for the structural story reassures our confidence in the company’s growth prospectsThe company continues to focus on offering a diverse range of products with niche branding across target segments.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

VIP Industries Ltd - Ready for Take-Off, Positive Outlook

<div><div><div><div><ul><li>VIP Industries is in the business of manufacturing and marketing of luggage bags, backpacks and accessories with market leading position in the organised segment.</li><li>Company’s brands VIP, Skybags, Carlton and Aristocrat command leadership status in the luggage industry.</li><li>Most of these brands have been in the industry for 10-50 years and enjoy strong brand salience. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

VIP Industries is in the business of manufacturing and marketing of luggage bags, backpacks and accessories with market leading position in the organised segment.Company’s brands VIP, Skybags, Carlton and Aristocrat command leadership status in the luggage industry.Most of these brands have been in the industry for 10-50 years and enjoy strong brand salience. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

VIP Industries Ltd - Pick of the Week - 09 JAN 2023

<ul><li>VIP Industries (VIP) reported a steady set of numbers for Q2FY23 and reported a slight miss from our estimates. The company reported revenue of Rs 515 Cr,(our estimate: 535 Cr). &amp; reported EBITDA of Rs 72 Cr (our estimate: 77 Cr) and effective EBITDA Margins came in at 14% below our estimate of 14.4%.</li><li>The company reported a PAT of Rs 43 Cr against our estimate of 43 Cr due to lower tax provisioning.</li><li>Post-pandemic, the company is reducing its dependency on China and external manufacturing to have more control over its business. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

VIP Industries (VIP) reported a steady set of numbers for Q2FY23 and reported a slight miss from our estimates. The company reported revenue of Rs 515 Cr,(our estimate: 535 Cr). &amp; reported EBITDA of Rs 72 Cr (our estimate: 77 Cr) and effective EBITDA Margins came in at 14% below our estimate of 14.4%.The company reported a PAT of Rs 43 Cr against our estimate of 43 Cr due to lower tax provisioning.Post-pandemic, the company is reducing its dependency on China and external manufacturing to have more control over its business. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

VIP Industries - Steady Numbers in Seasonally Weak Quarter; Maintain HOLD

India

V.I.P Industries Limited manufactures brand name molded luggage, soft luggage and ABS luggage. The Company's products include briefcases, suitcases, handbags, carry bags and vanity cases.  V.I.P. also provides travel related information, tips on destination and special deals on the Internet.

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V.I.P. Industries (VIP IN)

VIP Industries Ltd - Down But Not Beaten, Structural Story Intact!

VIP Industries’Q4FY23 numbers missed our estimates due to a fire incident at 1/8 Bangladesh Factory which affected 8-10% of its Bangladesh production.

Axis Direct

Key Highlights of the Month – Fundamental

It gives us immense joy to share with you our latest published report – Union Budget 2023-24: Post Budget Analysis & Stock Ideas.

Axis Direct

VIP Industries Ltd - Ready for Take-Off, Positive Outlook

Increasing the distribution network leading to customer accessibility along with the focus on digital presence and performance marketing will yield...

Axis Direct

VIP Industries Ltd - Pick of the Week - 09 JAN 2023

VIP Industries is in the business of manufacturing and marketing of luggage bags, backpacks and accessories with market leading position in the...

Axis Direct

VIP Industries - Steady Numbers in Seasonally Weak Quarter; Maintain HOLD

Post-pandemic, the company is reducing its dependency on China and external manufacturing to have more control over its business.

Axis Direct

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