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VMS TMT Ltd (VMSTMT)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544521 NSE: VMSTMT Steel & Iron Products | Small Cap | VMS TMT Share Price

₹46.20 -0.65 (-1.39%)

As on 04-Jun'26 16:59

VMS TMT Ltd (VMSTMT)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544521 NSE: VMSTMT Steel & Iron Products | Small Cap | VMS TMT Share Price

₹46.20 -0.65 (-1.39%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹229 Cr.
Current Price
₹46.2
52-Week Low / High
₹34 / 105
TTM EPS
₹4.2
TTM Sales
₹839 Cr.
Book Value per Share
₹46
P/E Ratio
10.90
Lower than its 5-year historical median
Industry PE
25.8
Price to Book (P/B)
1.01
In line with its 5-year historical median
Price to Sales (P/S)
0.27
Lower than its 5-year historical median
EV/EBITDA
7.19
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
25.76%
Outperforms industry median
Return on Capital Employed (ROCE)
14.00%
Outperforms industry median
Return on Assets (ROA)
4.42%
Operating Profit Margin
6.1%
Net Profit Margin
2%
Gross Profit Margin
3.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-11.77%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
13.55%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
14.48%
Asset Quality
Promoter Holding
67.18%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹179 Cr.
Equity
₹49.6 Cr.
Face Value
₹10
All Time Low / High
₹34.01 / 105.00

VMS TMT stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is VMS TMT Ltd a good quality company?
VMS TMT Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does VMS TMT Ltd performance compare with that of its Peers?
Q.1 Revenue growth of VMS TMT Ltd vs industry peers?
VMS TMT Ltd revenue CAGR is 15.98%, compared to the industry median CAGR of 6.94%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of VMS TMT Ltd?
Promoters hold 67.18% of the VMS TMT Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of VMS TMT Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.
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10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
VMS TMT Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ10.7%11.2%17.3%14%-
Value Creation
Index ⓘ		-0.2-0.20.20-

Growth Parameters ⓘ
Sales ⓘ494882873770839
Sales YoY Gr.-78.6%-1%-11.8%-
Adj EPS ⓘ2.81.344.34.2
YoY Gr.--52.2%203.8%7.4%-
BVPS (₹) ⓘ7.69.81421.146
Adj Net
Profit ⓘ		6.94.213.51521
Cash Flow from Ops. ⓘ-31-11.337.3-17.9-
Debt/CF from Ops. ⓘ-3.8-14.45.3-15.4-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNANA16%-11.8%
Adj EPS ⓘNANA16%7.4%
BVPSⓘNANA40.9%51.5%
Share Price - - - -

Key Financial Parameters ⓘ

Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		36.816.934.825.112.6
Op. Profit
Mgn % ⓘ		3.32.54.86.16.3
Net Profit
Mgn % ⓘ		1.40.51.522.5
Debt to
Equity ⓘ		6.35.34.33.80.2
Working Cap
Days ⓘ		0486290101
Cash Conv.
Cycle ⓘ		032415827

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Sales494882873770
Operating Expenses ⓘ + 478860831723
Manufacturing Costs16332954
Material Costs445795768632
Employee Cost 591013
Other Costs ⓘ 12232424
Operating Profit ⓘ 16224147
Operating Profit Margin (%) 3.2%2.5%4.8%6.1%
Other Income ⓘ + 0001
Exceptional Items ⓘ 0000
Interest ⓘ 6131821
Depreciation ⓘ 1447
Profit Before Tax ⓘ 961920
Tax ⓘ 2165
Profit After Tax 741315
PAT Margin (%) 1.4%0.5%1.5%2.0%
Adjusted EPS (₹)2.81.34.04.5
Dividend Payout Ratio (%)0%0%0%0%

Valuation of VMS TMT - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 19314773
Share Capital ⓘ 10131335
Reserves ⓘ 9183339
Debt +112157181255
Long Term Debt7193105125
Short Term Debt416476130
Minority Interest0000
Trade Payables7281241
Others Liabilities ⓘ 20124644
Total Liabilities ⓘ 158227285413

Fixed Assets

Net Fixed Assets ⓘ +717674174
Gross Block738183191
Accumulated Depreciation26916
CWIP ⓘ 04520
Investments ⓘ 0000
Inventories43106109152
Trade Receivables3291625
Cash Equivalents 02811
Others Assets ⓘ 11312751
Total Assets ⓘ 158227285413

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + -31-1137-18
PBT ⓘ 961919
Adjustment ⓘ 7162227
Changes in Working Capital ⓘ -47-33-4-60
Tax Paid ⓘ -00-0-4
Cash Flow From Investing Activity ⓘ + -18-27-50-55
Capex -18-12-50-56
Net Investments -0-1-4-10
Others ⓘ 0-15411
Cash Flow From Financing Activity ⓘ + 49411966
Net Proceeds from Shares ⓘ 08212
Net Proceeds from Borrowing ⓘ 35342524
Interest Paid ⓘ -6-13-18-20
Dividend Paid ⓘ 0000
Others ⓘ 20111049
Net Cash Flow ⓘ 026-7

Financial Ratio

PARTICULARSMar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)36.8216.9434.8225.76
ROCE (%)10.7211.217.2514
Asset Turnover Ratio3.134.583.412.21
PAT to CFO Conversion(x)-4.43-2.752.85-1.2
Working Capital Days
Receivable Days23.508.505.209.70
Inventory Days32.1030.904561.90
Payable Days5.908.109.5015.40

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

VMS TMT Ltd FAQs

The current trading price of VMS TMT on 04-Jun-2026 16:59 is ₹46.20.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of VMS TMT stood at ₹229.3 Cr

The latest P/E ratio of VMS TMT as of 03-Jun-2026 is 10.90.

The latest P/B ratio of VMS TMT as of 03-Jun-2026 is 1.01.

The 52-week high of VMS TMT is ₹105.0 and the 52-week low is ₹34.01.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of VMS TMT is ₹839 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that VMS TMT Ltd is a below average quality company.

The key valuation ratios of VMS TMT Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of VMS TMT Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About VMS TMT Ltd

VMS TMT Limited was incorporated as ‘VMS TMT Private Limited’ a private limited company under the Companies Act, 1956, pursuant to the certificate of incorporation issued by the Registrar of Companies, Gujarat at Dadra Nagar and Haveli on April 9, 2013. The name of the company was subsequently changed to ‘VMS TMT Limited’, upon conversion into a public limited company, pursuant to a board resolution dated October 16, 2023 and a shareholder resolution dated November 10, 2023, and a fresh certificate of change of name was issued on December 1, 2023, by the RoC.

The company is engaged in manufacturing of Thermo Mechanically Treated Bars (TMT Bars). TMT Bars are high-strength reinforcement steel used widely in construction industry due to their exceptional strength, ductility, and corrosion resistance. Additionally, it also generates revenue from the sale of allied products, including billets, binding wires, scrap, and other by-products arising during the manufacturing process of TMT Bars. It has a diverse customer base of retail and institutional customers primarily based in the State of Gujarat (except Saurashtra and Kutch district of Gujarat). It sells its TMT Bars to customers through distribution network, on a non-exclusive basis. 

It is manufacturing TMT Bars from scrap and billets at its manufacturing facility. It focuses on sustainability by emphasizing quality, environment, health and safety. Its products meet the standards set by the Bureau of Indian Standards (BIS). It also maintains a number of quality management system certificates in line with industry standards, including ISO 9001:2015 for quality management standards, ISO 45001:2018 for occupational health and safety management system standards and ISO 14001:2015 for environmental management system standards. 

Business area of the company 

The company is engaged in the business of manufacturing of TMT Bars and dealing into other steel items. It also generates revenue from the sale of allied products, including billets, binding wires, scrap, and other by-products arising during the manufacturing process of TMT Bars.

Products of the company

  • TMT bars
  • Billets
  • Binding wire
  • Scrap wire 

Key awards, accreditations and recognition

  • 2022: The company has received ISO 14001:2015 Certification. The environmental management system of the company has been assessed and approved by DNV for the manufacturing of TMT bars. The certification was issued on October 26, 2022, and is valid till October 25, 2025.
  • 2022: The company has received ISO 9001:2015 Certification. The quality management system of the company has been assessed and approved by DNV for the manufacturing of TMT bars. The certification was issued on October 26, 2022, and is valid till October 25, 2025.
  • 2022: The company has received ISO 45001:2018 Certification. The occupational health and safety management system of the company has been assessed and approved by DNV for the manufacturing of TMT (thermo mechanically treated) bars. The certification was issued on October 26, 2022, and is valid till October 25, 2025.
  • 2024: The company has received Bureau of Indian Standards Certification. License provided for high strength deformed steel bars and wires for concrete reinforcement. This certification was issued on July 26, 2024, and is valid till August 18, 2026.

History and milestones

  • 2013: Incorporation of VMS TMT Private Limited.
  • 2019: Crossed the turnover of Rs 10,000 lakh.
  • 2021: Setting up of a factory at Bhayla Village, Ahmedabad, Gujarat for manufacturing TMT Bars.
  • 2023: Crossed the turnover of Rs 50,000 lakh.
  • 2023: Conversion from VMS TMT Private Limited to VMS TMT Limited.
  • 2023: Initiated setting up of CCM plant.
  • 2024: Completed setting up and commencement of CCM plant.

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