- Subdued financial performance due to internal challenges (high inventory of soft luggage, failure to realign product range with customer expectations)
- Softening demand for soft luggage leading to high inventory levels and increased warehousing and freight costs
- Challenges in international business due to demand slowdowns and supply chain improvements in China
- Regional tensions in the Middle East and a global slowdown impacting sales
VIP Industries Limited
Greenhouse gas emissions & sustainability report data
In its 2023-04 to 2024-03 reporting, VIP Industries Limited disclosed greenhouse gas emissions of 278 metric tonnes of CO2 equivalent (Scope 1 and 2). By scope: Scope 1: 96 metric tonnes of CO2 equivalent; Scope 2: 18.2K metric tonnes of CO2 equivalent. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
278 metric tonnes of CO2 equivalent (Scope 1 and 2)
2023-04 to 2024-03
Water Usage
422.1K kilolitres
2023-04 to 2024-03
Waste
3.0K metric tonnes
2023-04 to 2024-03
Energy Use
80.1K GJ
2023-04 to 2024-03
📊 Emissions by Scope (2023-04 to 2024-03)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 96 metric tonnes of CO2 equivalent |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 18.2K metric tonnes of CO2 equivalent |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023-04 to 2024-03 | 278 metric tonnes of CO2 equivalent (Scope 1 and 2) |
| 2022-23 | 16.5K metric tonnes of CO2 equivalent (Scope 1 and 2) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Implemented measures to reduce energy consumption (e.g., replacing high-pressure vapor lamps with LED lights, timer control system for lighting, replacing outdated air compressors)
- Worked on technological improvements to reduce heating time of machines, reduce air wastage, and implement temperature control systems
- Achieved zero waste to landfill operations at plants
🎯 Climate & Sustainability Targets
🔜 Short-term
- Increase market share and grow faster than the industry
- Market share gain from H1 FY 2024-25
- Improved EBITDA ambitions from H2 FY25 onwards
- Optimized inventory with reduced debt and interest cost
📅 Medium-term
- Achieve industry benchmark for e-commerce revenue (25%)
🔭 Long-term
- Become a global travel solutions company
🌱 ESG Focus Areas
EnvironmentalSocialGovernance