>VIP INDUSTRIES LIMITED (FIRST CALL)

SYNOPSIS

• We initiated Coverage of VIP Industries Ltd and set a target Price of Rs. 115.00 for Long Term gains.

• VIP Industries is a leading manufacturer of moulded furniture, markets hard and soft luggage products primarily in India.

• Company products are sold across 1,300 retail outlets in 27 countries.

• VIP Industries plans to open 50-60 showrooms, out of which about 15 showrooms would be in the eastern region.

• The top and bottom line of the company is expected to grow at a CAGR of 7% and 15% over 2008 to 2011E.

To see full report: VIP INDUSTRIES LTD