VIP IndustriesNSE:VIPIND +0.05%70 Gross Margin % is 37.24% as of Mar. 2026, which is 22% below its 10-year median of 47.73. GuruFocus rates NSE:VIPIND with a GF Score™ of 70/100 and a GF Value™ of ₹400.96 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 1,027 Manufacturing - Apparel & Accessories companies, VIP Industries ranks better than 60.86% on this metric.
VIP Industries Ltd gross margin has been in long-term decline. The average rate of decline per year is -1.3%.
The historical rank and industry rank for VIP Industries's Gross Margin % or its related term are showing as below:
NSE:VIPIND'
s Gross Margin % Range Over the Past 10 Years
Min: 36.24 Med: 47.73 Max: 51.33
Current: 36.24
During the past 13 years, the highestGross Margin % of VIP Industries was 51.33%. The lowest was 36.24%. And the median was 47.73%.
NSE:VIPIND's Gross Margin % is ranked better than 60.86% of 1027
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 28.34
vs NSE:VIPIND: 36.24
VIP Industries had a gross margin of 37.24% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for VIP Industries was -1.30% per year.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
VIP Industries had a gross margin of 37.24% for the quarter that ended in Mar. 2026 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
VIP Industries Gross Margin % Related Terms
VIP Industries Gross Margin % Historical Data
* Premium members only.
The historical data trend for VIP Industries's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:VIPIND vs NKE, DECK, ONON: Gross Margin % Comparison
For the Footwear & Accessories subindustry, VIP Industries's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
VIP Industries Gross Margin % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, VIP Industries's Gross Margin % distribution charts can be found below:
* The bar in red indicates where VIP Industries's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
VIP Industries (NSE:VIPIND) has a Gross Margin % of 37.24% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on VIP Industries and its competitors. This is 22% below median its historical median of 47.73. Over the past decade, VIP Industries' Gross Margin % has ranged from 36.24 to 51.33. According to the industry distribution chart, VIP Industries ranks #402 out of 1027 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 39.1%.
Is VIP Industries' Gross Margin % too high?
VIP Industries' current Gross Margin % of 37.24% is 22% below median its 10-year median of 47.73. Over the past 10 years, this metric has ranged from a low of 36.24 to a high of 51.33. The Manufacturing - Apparel & Accessories industry median Gross Margin % is 28.34. VIP Industries' value of 37.24% is 31.4% above this industry median. Based on the distribution chart, VIP Industries ranks #402 out of 1027 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, VIP Industries has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does VIP Industries' Gross Margin % compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, VIP Industries ranks #402 out of 1027 companies for Gross Margin %. This puts VIP Industries in the upper half of its industry. The industry median Gross Margin % is 28.34. VIP Industries' value of 37.24% is 31.4% above this benchmark. Historically, VIP Industries' own Gross Margin % has ranged from 36.24 to 51.33 over the past decade. While the company's 10-year median is 47.73 vs. the industry median of 28.34, VIP Industries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Manufacturing - Apparel & Accessories company?
The median Gross Margin % among Manufacturing - Apparel & Accessories companies is 28.34, based on 1,027 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. VIP Industries's current Gross Margin % of 37.24% is 31.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on VIP Industries and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Gross Margin % is 28.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VIP Industries's current Gross Margin % is 37.24%, which is 22% below median its own 10-year median of 47.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VIP Industries stock overvalued right now?
Based on GuruFocus' analysis, VIP Industries (NSE:VIPIND) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹400.96, compared to a current price of ₹312.45 — trading 22.1% below its estimated fair value. The current Gross Margin % is 37.24%, which is 22% below median its 10-year median of 47.73 and 31.4% above the Manufacturing - Apparel & Accessories industry median of 28.34. VIP Industries' overall GF Score™ is 70/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For VIP Industries (NSE:VIPIND), the current Gross Margin % is 37.24% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is VIP Industries (NSE:VIPIND) Overvalued in 2026?
Based on GuruFocus' analysis, VIP Industries stock appears to be undervalued.
The current stock price of ₹312.45 is trading 22.1% below its estimated GF Value™ of ₹400.96.
GuruFocus considers VIP Industries to be Modestly Undervalued.
Key valuation signals for NSE:VIPIND:
Gross Margin %: 37.24% (22% below median its 10-year median of 47.73)
GF Value™: ₹400.96 vs. price of ₹312.45 (22.1% below fair value)
Industry Position: 31.4% above the Manufacturing - Apparel & Accessories median (#402 of 1027)
No single metric tells the full story. See the NSE:VIPIND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
VIP Industries Ltd is a luggage manufacturer based in India. The company's only segment is the manufacturing and marketing of luggage, bags, and accessories. Geographically, it derives a majority of revenue from India. VIP has a range of brands across luggage categories including Carlton, VIP Bags, Skybags, Aristocrat, Alfa, and Caprese through which it sells trolleys, rucksacks, backpacks, duffel bags, laptop bags, travel accessories, short-haul essentials, soft uprights, vanity cases, hard suitcases, briefcases, and others.
70GF Score
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