Target price: Rs 530 | Upside: 26%
Motilal Oswal notes, “VIP Industries, a leading player in India’s Rs 170 billion luggage market, has outpaced industry growth, delivering a revenue CAGR of 19% over FY22–25.” It expects the company to capture market share gains through premiumization, digital scale, and a margin-accretive supply chain.
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