V.I.P. Industries Limited has released its audited financial results for the year ended March 31, 2026. The company reported a consolidated revenue from operations of Rs. 1,858.13 crores and a consolidated net loss of Rs. 338.01 crores for the fiscal year. Furthermore, the company has recommended the appointment of Deloitte Haskins & Sells Chartered Accountants LLP as its new statutory auditor for a five-year term, effective from the conclusion of the upcoming 59th Annual General Meeting.
Financial Performance Overview
For the fiscal year ended March 31, 2026, V.I.P. Industries recorded a consolidated revenue from operations of Rs. 1,858.13 crores, compared to Rs. 2,178.43 crores in the previous year. The consolidated net loss for the year stood at Rs. 338.01 crores. In the fourth quarter (Jan-Mar 2026), the company generated consolidated revenue of Rs. 436.23 crores with a net loss of Rs. 128.90 crores.
Exceptional Items and Operational Updates
The financial results were impacted by various exceptional items. Notably, the company recognized a gain of Rs. 63.53 crores from the sale of non-core assets. Additionally, the company incurred losses due to fire incidents at regional warehouses and plants, with insurance claims processed accordingly to mitigate financial impact. The company also made significant provisions towards inventories, totaling Rs. 122.66 crores for the consolidated entity for the year ended March 31, 2026.
Change in Statutory Auditors
The Board of Directors has recommended the appointment of M/s. Deloitte Haskins & Sells Chartered Accountants LLP as the new statutory auditors. This appointment is for a term of five years, spanning from the conclusion of the 59th Annual General Meeting in 2026 until the conclusion of the 64th Annual General Meeting in 2031. This recommendation follows the completion of the two-term tenure of the outgoing auditors, Price Waterhouse Chartered Accountants LLP.
Strategic Developments
During the fiscal year, the company saw significant changes in shareholding and control. The Multiples Private Equity Fund acquired control and is now classified as a promoter of the company, with the Shareholder’s Agreement becoming effective on September 23, 2025. Furthermore, the company continues to focus on its single business segment of manufacturing and marketing of luggage and bags.
Source: BSE
