News on Medial

How VIP is trying to shed its baggage

Livemint · 12m

Dilip Piramal, chairperson of VIP Industries, is counting on the newly appointed managing director, Neetu Kashiramka, to revive the company's fortunes. VIP Industries has faced challenges with declining margins, inventory issues, and competition from both established players and emerging startups. Kashiramka plans to focus on cutting costs, shifting to an asset-light model, and launching new products to regain market share. She aims to elevate EBITDA margins to 15% by FY25 and transform VIP into a more diversified business. Despite the current struggles, investors are hopeful about the company's turnaround strategies.