V.I.P. Industries Limited (VIPIND.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

-133.2%

-₹80.46

vs ₹242.55 price

Levered DCF

₹44.71

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

D+

Overall 1 / 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	-12.7×	-58.07×	138.67×	53.22×	157.64×	-51.33×	30.36×	47.18×
P/B	14.83×	6.48×	11.11×	12.63×	18.84×	9.68×	5.56×	11.79×
P/S	2.31×	1.85×	3.36×	3.89×	8.19×	8.11×	1.98×	3.85×
EV / EBITDA	-35.61×	57.09×	37.59×	27.95×	59.33×	-313.99×	14.16×	29.49×
Gross margin	17.7%	45.9%	50.3%	51.1%	47.4%	38.9%	51.4%	48.0%
Operating margin	-19.8%	-1.1%	4.6%	10.6%	6.3%	-22.5%	12.5%	12.0%
Net margin	-18.2%	-3.2%	2.4%	7.3%	5.2%	-15.8%	6.5%	8.2%
Current ratio	0.94×	1.28×	1.31×	1.62×	1.74×	1.84×	1.89×	1.91×
Debt / equity	2.55×	1.22×	1.29×	0.55×	0.53×	0.68×	0.44×	0.15×
Interest coverage	-5.23×	-0.32×	1.74×	7.05×	3.07×	-4.68×	9.33×	161.02×
Dividend yield	0.0%	0.0%	0.4%	0.8%	0.3%	0.0%	2.5%	0.7%
Payout ratio	-0.1%	-1.1%	53.1%	41.9%	53.0%	-0.4%	77.0%	31.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-116.8%	-11.2%	8.0%	23.7%	12.0%	-18.9%	18.3%	25.0%
Return on invested capital	-35.2%	-1.3%	4.7%	16.9%	7.2%	-12.3%	18.0%	21.5%
Return on assets	-21.1%	-3.7%	2.6%	10.8%	5.4%	-8.9%	9.0%	13.6%
Free cash flow yield	2.1%	6.2%	-3.1%	0.8%	-0.6%	0.2%	7.3%	-1.7%
Earnings yield	-7.9%	-1.7%	0.7%	1.9%	0.6%	-1.9%	3.3%	2.1%
Enterprise value	₹50B	₹47B	₹83.6B	₹84.3B	₹108.2B	₹53.4B	₹36.6B	₹69.3B
Net debt / EBITDA	-5.02×	8.55×	3.72×	1.06×	1.54×	-19.59×	1.02×	0.32×
Cash conversion cycle (days)	59	158	220	147	189	235	128	157