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VMS Industries Limited

VMS Industries Limited

BBSE:VMS
16.90
INR
-0.40
(-2.31%)
0.61EPS
35.55P/E
531.32MMarket Cap
VMS Industries Limited
BSE:VMS
(Bombay Stock Exchange)

Recent

price

16.90

P/E

ratio

35.55

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
69.67
65.93
72.01
65.76
46.61
57.67
65
76.34
100.56
99.94
86.83
89.3
79.53
150.9
123.55
64.33
66.61
Revenue per Share
1.55
0.58
0.89
0.58
0.31
0.54
0.57
0.95
1.12
0.68
0.6
0.61
1.41
3.58
2.91
0.6
0.61
Basic EPS, GAAP
-27.98
-8.04
6.94
- -
19.7
-3.89
15.36
-11.23
-7.61
-23.09
15.56
-6.61
-3.17
25.19
-20.65
-12.81
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.52
- -
- -
Dividend per Share
20.61
27.64
28.44
28.93
29.16
29.5
29.62
30.45
30.58
30.11
30.59
31.34
32.68
36.22
39.32
39.7
- -
Book Value per Share
20.61
27.64
28.44
28.93
29.16
29.5
29.62
30.45
30.58
30.11
30.59
31.34
32.68
36.22
39.32
39.7
- -
Tangible Book Value per Share
11
18
18
18
18
18
18
18
18
18
18
18
18
18
23
24
24
Basic Weighted Avg Shares
749
1,164
1,271
1,161
823
1,018
1,147
1,348
1,775
1,764
1,533
1,576
1,404
2,664
2,886
1,574
1,626
Sales/Revenue/Turnover
2.48
14.32
-0.72
-0.31
0.8
-1.49
-2.59
1.22
2.64
2.53
0.01
-1.32
0.47
2.19
2.52
-0.65
-0.73
Operating Margin (%)
4
8
10
7
7
3
4
6
5
5
4
4
4
5
6
7
7
Depreciation Expense
17
10
16
10
5
10
10
17
20
12
11
11
25
63
68
15
15
Net Income, GAAP
9.95
36.78
23.29
29.78
37.23
31.86
42.3
32.65
30.15
9.04
26.93
27.19
16.29
25.23
25.46
30.95
30.77
Effective Tax Rate (%)
2.23
0.88
1.24
0.88
0.66
0.94
0.88
1.24
1.11
0.68
0.69
0.68
1.78
2.37
2.36
0.93
0.92
Profit Margin (%)
146
322
362
348
338
203
359
324
392
455
519
514
564
609
897
911
- -
Working Capital
6
29
15
2
2
2
47
43
2
1
54
45
31
28
23
15
- -
LT Debt
222
488
502
512
527
535
535
551
554
532
540
553
577
639
962
972
- -
Total Equity
5.6
1.41
1.08
1.09
0.65
1.5
1.61
1.51
4.41
4.6
0.02
-1.84
0.64
5
5.47
-0.59
- -
Return on Invested Capital (%)
8.94
0.8
1.96
1.78
1.28
2.66
2.23
4.04
3.4
2.84
3.68
2.74
4.17
8.07
8.1
2.7
- -
Return on Capital (%)
7.84
2.89
3.19
2.02
1.07
1.84
1.94
3.15
3.67
2.26
1.97
1.97
4.42
10.39
8.5
1.51
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
280
- -
LT Borrowings
- -
15
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
24
24
24
Market Capitalization
659
446
531

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
1,534
- -
Cash, Cash Equivalents & STI
- -
2
- -
Accounts Receivable, Net
- -
638
- -
Inventories
- -
147
- -
Total Current Liabilities
- -
623
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
280
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7%
13.81%
0.97%
Free Cash Flow
-199.58%
-266.27%
-34.98%
Net Income, GAAP
25.43%
43.17%
-78.5%
Sales/Revenue/Turnover
9.27%
8.91%
-45.44%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
1,054
975
336
521
2,886
2026
396
426
249
503
1,574
2027
448
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
0.26
0.31
0.14
2.2
2.91
2026
0.18
0.19
0.11
0.12
0.6
2027
0.19
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
0.52
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -
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Business
VMS Industries Limited operates primarily in ship recycling and trading of ferrous and non-ferrous metals. Founded in 1991 and headquartered in Ahmedabad, India, the company engages in ship breaking activities at the Alang-Sosiya ship recycling yard in Gujarat, which is a leading center for ship recycling in Asia. Its manufacturing segment focuses on dismantling old and used ships to recover scrap and reusable materials, while the trading segment deals with the sale of ferrous and non-ferrous metals. VMS Industries also has historical involvement in information technology services related to land revenue and ration card computerization but has transitioned its core focus to ship recycling and related trading activities. The company was previously known as Varun Management Services Pvt. Ltd until it changed its name to VMS Industries Limited in 2010. In recent developments, VMS Industries has consolidated its reporting into a single segment focused on manufacturing iron and steel scrap as of fiscal year 2025-26. The company continues to operate 37 ships for its ship recycling activities and has maintained its strategic position at berth 160M at the Alang ship breaking yard. There are no publicly disclosed acquisitions or major expansions in new geographical markets in the last two years, but it underwent a reclassification for segment reporting and has been active in improving operational efficiencies. The promoter has also released 500,000 shares from encumbrance in late 2025, indicating a move towards capital reorganization. The company remains a key player in ship recycling with a focus on sustainable scrap trading and manufacturing industries in India. VMS Industries operates primarily in India with its flagship operations in Gujarat at Alang. It serves customers in the ship recycling sector and the metal trading market. The company is certified with ISO quality and environmental standards relevant to its ship recycling and offshore business activities. It continues to adapt its business model with a focus on core manufacturing and trading businesses, responding to market dynamics in the steel scrap and ship recycling industry. The company is publicly listed on the Bombay Stock Exchange under the ticker VMS.BO.