VIP Clothing Limited (VIPCLOTHNG.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-194.6%

-₹17.59

vs ₹18.60 price

Levered DCF

-₹12.13

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	13.57×	47.41×	-24.93×	50.12×	-86.67×	-108.08×	-2.27×	-28.33×
P/B	0.68×	1.42×	2.28×	2.19×	1.45×	0.86×	0.25×	0.93×
P/S	0.52×	1.1×	1.74×	1.67×	1.07×	0.82×	0.2×	0.85×
EV / EBITDA	8.44×	19.13×	-91.54×	19.94×	32.86×	41.85×	-8.95×	45.55×
Gross margin	15.8%	39.3%	11.1%	38.3%	14.3%	41.8%	35.2%	41.3%
Operating margin	8.0%	18.9%	-4.1%	5.1%	1.0%	-0.9%	-9.7%	0.6%
Net margin	3.9%	2.3%	-7.0%	3.3%	-1.2%	-0.7%	-8.7%	-3.0%
Current ratio	1.83×	1.66×	1.36×	1.54×	1.36×	1.42×	1.5×	1.78×
Debt / equity	0.36×	0.45×	0.58×	0.59×	0.77×	0.69×	0.61×	0.44×
Interest coverage	2.3×	5.6×	-0.83×	1.11×	0.2×	-0.12×	-1.6×	0.13×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.0%	3.0%	-9.1%	4.4%	-1.7%	-0.8%	-10.9%	-3.3%
Return on invested capital	5.7%	12.6%	-2.6%	3.2%	0.4%	-0.1%	-3.8%	0.3%
Return on assets	3.0%	1.7%	-4.7%	2.3%	-0.8%	-0.4%	-5.5%	-1.7%
Free cash flow yield	9.4%	-14.4%	3.3%	3.9%	-2.8%	4.5%	38.1%	2.7%
Earnings yield	7.4%	2.1%	-4.0%	2.0%	-1.1%	-0.9%	-44.1%	-3.5%
Enterprise value	₹2B	₹3.4B	₹4B	₹4.1B	₹3B	₹2B	₹1.2B	₹2.6B
Net debt / EBITDA	2.88×	4.53×	-18.56×	3.77×	11.36×	18.09×	-6.32×	14.6×
Cash conversion cycle (days)	228	266	223	284	331	439	339	382