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V I P Industries Ltd share price today (on 2 April 2023).
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BSE: 507880 | NSE: VIPIND | ISIN: INE054A01027Market Cap: [Rs.Cr.] 1,049 | Face Value: [Rs.] 2
Industry: Moulded Luggage
Formerly Aristo Plast, VIP Industries was incorporated in Jan.'68. In 1971, it became a wholly-owned subsidiary of Blow Plast. Promoted by Dilip G Piramal, the company manufactures moulded luggage (from high-density polyethylene), soft luggage (from nylon, polyester, jupolene, printed polyester) and ABS luggage (from acrylonitrile butadiene styrene plastic) including briefcases, suitcases, handbags, carry bags and vanity cases. The installed capacity for flexible luggage is 3,60,000 pa. The company came out with a rights issue in Nov.'93 for expansion, modernisation and balancing its plants located at Nasik, Jalgaon and Sinnar. It has a technical collaboration with Tooling Products (Langrish), UK, to set up a state-of-the-art toolroom to manufacture plastic injection moulds and press tools.
VIP Industries sells 60% of its output in the all-product category in the domestic market through wholesalers and 30% is sold to institutions and the government. VIP's R & D unit at Nasik has been accorded recognition by the Government of India, Ministry of Science and Technology. In 1997-98, it increased the installed capacity of its injection/vaccum moulded plastic goods by 1000 MT. During the year 1999-2000, the company's exports increased from 14.91 crores from the previous year to 15.49 crores in the current year registering a growth of 4%. The company is planning to develop new luggage ranges with advanced design and superior aesthetics. The company has entered into technical collaboration with Delsey S A France for manufacturing some of their premium range suitcases & briefcases.
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