New Delhi, May 27 -- Post-pandemic, India's luggage market began a steady recovery fueled by a surge in travel and weddings. Safari Industries Ltd, the country's second-largest luggage company, rode this revival well, but VIP Industries Ltd, the market leader, lost ground.

VIP's market share dropped, inventory piled up, and debt increased, weighing on the stock's performance.

The company's share price hit a 52-week low of Rs.248 on 7 April-a level last seen during the pandemic-down from the stock's all-time high of Rs.775 that it reached on 1 April 2022.

To arrest the slide, VIP initiated a restructuring that included an inventory liquidation and a balance sheet repair. These efforts are now showing early signs of revival. Its share pr...