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VIP Industries Shares Hits 5.5% in a Day Following Vijay Kedia’s Rs 40 Crore Share Acquisition!

VIP Industries shares rose after Vijay Kedia purchased Rs 40 crore worth of stock. Despite this, the company reported a 93% drop in net profit in Q1 FY 2024-25.
VIP Industries Shares Hits 5.5% in a Day Following Vijay Kedia's Rs 40 Crore Share Acquisition!

VIP Industries shares increased for the second consecutive day on September 24 after renowned investor Vijay Kedia purchased shares worth Rs 40 crore. Kedia acquired 7.25 lakh shares at Rs 545.97 each on September 22, leading to positive market sentiment.

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By 10:25 am on September 24, VIP Industries’ stock was trading 5.5 percent higher at Rs 587 per share. The company boasts a market capitalization of Rs 8,300 crore, with promoters holding a 52 percent stake. The stock has fluctuated between a 52-week low of Rs 428.5 and a high of Rs 697.4.

Also Read: Vijay Kedia Portfolio

Earlier on September 24, Kedia addressed his recent investment on X (formerly Twitter), advising caution as he noted the stock’s high valuation. He emphasized that investors should be prepared for a potentially lengthy wait to see returns.

In the first quarter of FY 2024-25, VIP Industries reported a significant 93 percent drop in consolidated net profit, amounting to Rs 4 crore, down from Rs 57.8 crore in the same period last year. The company’s revenue from operations rose slightly by 0.4 percent, reaching Rs 638.8 crore compared to Rs 636.1 crore in the previous year.

The earnings before interest, taxes, depreciation, and amortization (EBITDA) also experienced a decline, falling 39 percent to Rs 49.4 crore in Q1 FY25 from Rs 80.6 crore in Q1 FY24. The EBITDA margin decreased to 7.7 percent from 12.7 percent year-over-year, indicating ongoing challenges for the company.

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