VIP Industries shares gain after MD Neetu Kashiramka resigns, board approves successor

Shares of VIP Industries Ltd. gained on Wednesday, September 24, after its board approved the resignation of managing director Neetu Kashiramka, with effect from its meeting's end on Tuesday.

She will continue to remain at the helm of affairs at the company till October 31, 2025.

VIP Industries, in an exchange filing, said the board approved the appointment of Atul Jain as managing director, with effect from September 23, 2025, for a five-year period.



As per Kashiramka's LinkedIn, she joined VIP Industries as chief financial officer in April 2020. She took over as managing director and CFO in August 2023 and has been the just the MD since February 2024.

Jain is an alumnus of IIT Delhi and IIM Calcutta. Prior to VIP Industries, he briefly led Aptech Ltd and has been in multiple sales and marketing roles at Godfrey Phillips India, Bharti Airtel, Coca-Cola. He was also the senior director at Samsung Electronics global headquarters in South Korea, as per the exchange filing.

In March 2024, Kashiramka had spoken to CNBC-TV18, outlining VIP Industries' ambitious plans. She said that the aspiration is to take the company's market share to 45% in the next three to to five years.

On VIP Industries' brand portfolio, she said the Carlton brand, which contributes between 4% to 5% of the company's total sales, the plan was to elevate the segment's revenue to ₹500 crore within three years.

In the June quarter of this fiscal, VIP Industries reported a net loss of ₹17 crore in comparison to a profit of ₹3.7 crore in the year-ago period. Its revenue declined 12.1% to ₹561.4 crore from ₹639 crore in the previous year.

Shares of VIP Industries were up 1.3% at ₹445.05 apiece around 9.30 am on Wednesday. The stock has gained 49.4% in the last six months.

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