VIP Industries has reshuffled its key managerial personnel by appointing Narayan Saraf as Chief Financial Officer and Shalaka Koparkar as Company Secretary & Compliance Officer. The Board of Directors approved these appointments on August 3, 2026, following recommendations from the Nomination and Remuneration Committee. This leadership change coincides with the resignation of outgoing CFO Rahul Poddar, who is stepping down for personal reasons. The appointments were disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ms. Koparkar assumes her role as Company Secretary and Key Managerial Personnel (KMP) effective August 3, 2026, while Mr. Saraf will take charge as CFO and KMP from September 1, 2026. Mr. Poddar's resignation becomes effective at the close of business hours on August 31, 2026.

New Leadership Profiles

The following table summarizes the key details of the new appointments:

Mr. Saraf brings over 25 years of experience across the consumer, healthcare, and energy sectors. He joins VIP Industries from J.B. Chemicals & Pharmaceuticals Limited, a KKR-backed firm, having previously held senior finance roles at Thermo Fisher Scientific, CIPLA, and Hindustan Unilever. Ms. Koparkar is a member of the Institute of Company Secretaries of India and brings professional experience in corporate laws, secretarial compliances, and investor relations from her prior roles.

Outgoing CFO Resignation

Rahul Poddar resigned as CFO and KMP to devote time to the healthcare of an immediate family member. In his resignation communication, Mr. Poddar confirmed there were no other material reasons for stepping down. The Board recorded its appreciation for his contributions to the company's financial strategy and operational strengthening.

Regulatory Disclosures

The Board authorized Ms. Koparkar and Mr. Saraf to determine the materiality of events and make disclosures to stock exchanges under Regulation 30(5) of the SEBI Listing Regulations. Along with Managing Director Atul Jain, they are jointly authorized for these compliance functions. The disclosure aligns with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

VIP Industries has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year FY 2025-26 to BSE Limited and the National Stock Exchange of India Ltd., in compliance with Regulation 34(2)(f) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The report, signed by Managing Director Atul Jain on July 30, 2026, covers the company's consolidated operations and reflects its performance across environmental, social, and governance (ESG) dimensions.

Company Overview and Financial Parameters

VIP Industries, incorporated in 1968 (CIN: L25200MH1968PLC013914), is engaged in the manufacturing and retail trading of soft luggage and hard luggage, accounting for 100% of its turnover. The company operates nationally across all states and union territories, and internationally across 26 countries. Its paid-up capital stands at ₹28,41,03,692. Key financial parameters for FY 2025-26 are outlined below:

The company operates 2 national plants, 6 offices, and 24 warehouses domestically, along with 7 international plants and 2 international offices. It has five wholly owned subsidiaries, including Blow Plast Retail Limited and four Bangladesh-based entities.

Workforce Composition and Employee Well-Being

As at the end of FY 2025-26, VIP Industries had a total workforce comprising 4,568 employees and 4,486 workers. The company reported no employees or workers who identified themselves as differently abled, except for 2 permanently employed differently abled male employees. Women represented 38% of the Board of Directors (3 out of 8 members), while Key Management Personnel had no female representation.

The cost incurred on employee well-being measures as a percentage of total revenue was 0.15% in FY 2025-26, compared to 0.12% in FY 2024-25. Turnover rates for permanent employees stood at 22.00% (male), 40.00% (female), and 23.00% (total) in FY 2025-26. All permanent employees and workers are covered under PF, Gratuity, and ESI (where applicable). Gross wages paid to females as a percentage of total wages were 10% in FY 2025-26, compared to 13% in FY 2024-25.

Environmental Performance

The company's total energy consumption in FY 2025-26 was 68,057 GJ, compared to 60,001 GJ in FY 2024-25. Of this, 2,542 GJ was sourced from renewable resources and 65,516 GJ from non-renewable sources.

Total water withdrawal in FY 2025-26 was 184,059 kilolitres (sourced from third parties, including MIDC and BPZA), up from 150,824 kilolitres in FY 2024-25. Water intensity per rupee of turnover was 99.4 KL/Crore of Turnover in FY 2025-26, compared to 69.24 KL/Crore in FY 2024-25.

On greenhouse gas emissions, total Scope 1 emissions were 124 metric tonnes of CO2 equivalent in FY 2025-26 (versus 129 in FY 2024-25), and total Scope 2 emissions were 12,820 metric tonnes of CO2 equivalent (versus 12,012 in FY 2024-25). Combined Scope 1 and Scope 2 emission intensity per crore of turnover was 7.00 metric tonnes of CO2 equivalent in FY 2025-26, compared to 5.57 in FY 2024-25. Scope 1 and Scope 2 emissions data were assessed by an external agency, Sustainability Actions Private Limited.

Total waste generated increased to 3,436 metric tonnes in FY 2025-26 from 357.04 metric tonnes in FY 2024-25, with the expanded reporting boundary incorporating Bangladesh waste data. Of the total waste, 3,435.33 metric tonnes were recovered through recycling.

Governance, Stakeholder Engagement, and CSR

VIP Industries reported 23 shareholder complaints filed during FY 2025-26 (versus 31 in FY 2024-25), and 1,10,781 customer complaints filed during FY 2025-26 (versus 96,086 in FY 2024-25), with no complaints pending resolution at year-end. No complaints were received from communities, value chain partners, investors (other than shareholders), or employees and workers in either year.

The company's accounts payable days stood at 73 in FY 2025-26, compared to 42 in FY 2024-25. Sales to dealers and distributors as a percentage of total sales were 20.4% in FY 2025-26 (versus 17% in FY 2024-25), with the number of dealers and distributors rising to 1,004 from 740. Related party purchases accounted for 24.20% of total purchases in FY 2025-26, down from 27.16% in FY 2024-25.

On CSR, the company confirmed applicability under Section 135 of the Companies Act, 2013. Initiatives during the year included support for sports development through the Inspire Institute of Sport (IIS), OGQ, and the Indian Body Builders Federation; educational programs through Saarth Pratishthan and the Association for Welfare of Mentally Handicapped People (AWMH); support for vulnerable girls through the Worderless World Foundation; and contributions to the Nashik Run Charitable Trust. Input materials sourced directly from MSMEs and small producers accounted for 36.81% in FY 2025-26, up from 27.23% in FY 2024-25, while inputs sourced directly from within India rose to 64.52% from 55%.

Safety and Human Rights

The company reported zero Lost Time Injury Frequency Rate (LTIFR), zero total recordable work-related injuries, zero fatalities, and zero high-consequence work-related injuries or ill-health for both employees and workers in FY 2025-26 and FY 2024-25. No complaints related to sexual harassment, discrimination, child labour, forced labour, wages, or working conditions were filed by employees or workers in FY 2025-26. All plants and offices were assessed for health and safety practices through internal audits by certified internal auditors, and statutory external audits were conducted at all applicable manufacturing units and warehouses. The company has no data breaches to report for FY 2025-26.