Feb 19, 2021, 11:34 AM IST
Everyone has something to teach and something to learn. And that is exactly what makes mentoring a beautiful, mutually rewarding relationship. Yuva Unstoppable, the country’s premier non-profit organization founded by Amitabh Shah, nurtures multiple such mentoring relationships. It is on a mission to impact bright yet needy children and youth (world class WASH facilities in govt. schools, digital literacy, scholarships, mentoring, etc.). Under its Educational Scholarships Program, top CEOs have mentored hundreds of Gen Z scholars. Read on to dig into what some of them like Nadir Godrej, Dilip Piramal, Gaurav Gupta, Sai Srinivas Kiran, and Rahul Agarwal to name a few, had to share with Yuva Unstoppable s young minds.
Dilip Piramal said that VIP Industries result disappointed due to Covid pandemic. Q1 FY21 sales were down 94% when compared to Q1 FY21, Q2 FY21 sales were much better when compared to Q1 FY21 as sales improved from 6% in Q1 FY21 to 25% in Q2 FY21 and further improved to 55% in Q3 FY21. Q4 FY21 is expected to be better than Q3 FY21.
Rakesh Jhunjhunwala s VIP bet headed for a phase of underperformance?
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NEW DELHI: VIP Industries, the company where Rakesh Jhunjhunwala owns 5 per cent, could not enthuse analysts much with December quarter earnings. Brokerages said aggressive cost cutting is unsustainable and the revenue recovery post-Covid still remains muted.
While the green shoots are visible, analysts believe revenue and margin normalisation for the baggage maker are still five-six quarters away, and the stock may underperform the market after nearly doubling the price from the lows of March, 2020.
What does the management say?
Chairman Dilip Piramal minced no words in accepting that luggage was among the sectors worst-affected by Covid. Piramal told ETNOW that VIP’s sales were only 7 per cent of pre-Covid levels in Q1 and 25 per cent in Q2, which reached 54 per cent in Q3. “The trend is continuing and that is a good sign,” he said.
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VIP Industries, says that he has not seen any marked shift in demand pattern. Cheaper goods are selling much more and the company’s margins are lower.
It is unsurprising that you have seen a hit to your top line but are you seeing any sort of recovery because Q3 included the festive as well as the wedding season, a period which historically has been a strong point for
Yes definitely the situation is changing and you can see that from our revenue. We are among the worst affected industries as luggage is dependent on the travel industry which has been badly affected. In the first quarter of the current fiscal year, our sales were only 7% and in the second quarter they were 25%. In Q3, they have reached 54%. So, definitely, it has been more than doubled compared to the second quarter. This trend is continuing and that is a good sign.