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VMS Industries Ltd (533427)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533427 NSE: Ship Building | Small Cap | VMS Industries Share Price

₹22.98 1.26 (5.80%)

As on 12-Jun'26 16:59

VMS Industries Ltd (533427)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533427 NSE: Ship Building | Small Cap | VMS Industries Share Price

₹22.98 1.26 (5.80%)

As on 12-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹56 Cr.
Current Price
₹23
52-Week Low / High
₹18 / 48
TTM EPS
₹0.6
TTM Sales
₹157 Cr.
Book Value per Share
₹39.7
P/E Ratio
38.44
Higher than its 5-year historical median
Industry PE
43.2
Price to Book (P/B)
0.58
Lower than its 5-year historical median
Price to Sales (P/S)
0.36
Higher than its 5-year historical median
EV/EBITDA
10.33
Higher than its 5-year historical median
Dividend Yield
2.05%
Profitability Efficiency
Return on Equity (ROE)
8.50%
Outperforms industry median
Return on Capital Employed (ROCE)
12.18%
Outperforms industry median
Return on Assets (ROA)
4.20%
Operating Profit Margin
2.7%
Net Profit Margin
2.36%
Gross Profit Margin
3.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
8.33%
Operating Profit Growth (1 Year)
-
30.31%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
7.59%
Asset Quality
Promoter Holding
38.10%
Pledged shares (%) of Promoter's holding (%)
47.63%
Reserves
₹73 Cr.
Equity
₹24.5 Cr.
Face Value
₹10
All Time Low / High
₹4.79 / 126.22

VMS Industries stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is VMS Industries Ltd a good quality company?
VMS Industries Ltd is a quality company, based on a 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.

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.

How does VMS Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of VMS Industries Ltd vs industry peers?
VMS Industries Ltd revenue CAGR is 10.34%, compared to the industry median CAGR of 19.16%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of VMS Industries Ltd?
Promoters hold 38.10% of the VMS Industries Ltd, with 47.63% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of VMS Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 2.9% based on the current price.

10 Year X-Ray :

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 Industries 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 4.7%3.7%5.9%5.2%3.7%5%4.2%5.3%11.7%12.2%-
Value Creation
Index
-0.7-0.7-0.6-0.6-0.7-0.6-0.7-0.6-0.2-0.1-

Growth Parameters

Sales 102114118178176153158140266289157
Sales YoY Gr.-12.1%3.3%50.6%-0.6%-13.1%2.8%-10.9%89.7%8.3%-
Adj EPS 0.50.912.53.10.90.41.93.52.80.6
YoY Gr.-60.4%20%147.1%23.8%-70.5%-54.4%357.1%82.3%-20.9%-
BVPS (₹) 29.229.330.131.23030.631.332.736.239.339.7
Adj Net
Profit
0.91.51.84.55.51.60.73.46.26.81
Cash Flow from Ops. -6.832-20-13.4-40.727.8-11.5-5.546.6-46.5-
Debt/CF from Ops. -1.60-0.7-1.2-1.20.8-2.8-5.20.5-0.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 12.3%10.3%22.3%8.3%
Adj EPS 20.2%-2.4%87.5%-20.9%
BVPS3.4%5.6%7.9%8.6%
Share Price 3.1% 17.8% 19.3% -47.8%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
1.82.93.48.210.231.4610.28.51.5
Op. Profit
Mgn %
-1.2-0.31.42.92.80.8-1.10.72.32.7-0.2
Net Profit
Mgn %
0.91.31.52.53.11.10.52.42.32.40.9
Debt to
Equity
0.200.30.30.90.40.60.50.40.20
Working Cap
Days
169221235194277266208221118140157
Cash Conv.
Cycle
18-40-403280754371121989

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales101.80114.12117.86177.50176.41153.28157.64140.39266.37288.56
Operating Expenses + 102.97115.16116.76175.89178.02152.86159.34140.75260.30280.65
Manufacturing Costs1.382.331.451.981.402.040.740.323.773.30
Material Costs95.27105.29108.17165.40165.30146.09153.63136.13248.77270.27
Employee Cost 0.981.290.931.461.301.731.160.462.833.38
Other Costs 5.346.256.217.0610.023.013.813.834.933.69
Operating Profit -1.17-1.041.101.61-1.610.42-1.70-0.366.077.91
Operating Profit Margin (%) -1.1%-0.9%0.9%0.9%-0.9%0.3%-1.1%-0.3%2.3%2.7%
Other Income + 4.243.632.922.505.304.465.505.374.474.74
Exceptional Items 0000000000
Interest 1.330.431.430.811.903.031.941.651.642.90
Depreciation 0.350.430.470.470.460.390.380.380.450.63
Profit Before Tax 1.401.722.112.831.331.451.482.988.459.13
Tax 0.450.730.690.850.120.390.400.492.132.32
Profit After Tax 0.950.991.421.981.211.061.082.506.326.80
PAT Margin (%) 0.9%0.9%1.2%1.1%0.7%0.7%0.7%1.8%2.4%2.4%
Adjusted EPS (₹)0.50.60.81.10.70.60.61.43.62.8
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%18%

Valuation of VMS Industries - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
mw4me loader

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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 52.2652.2753.5355.3553.165455.3257.6963.9396.23
Share Capital 16.4716.4716.4716.4716.4716.4716.4716.4716.4724.47
Reserves 35.7935.7937.0638.8836.6837.5238.8541.2147.4671.75
Debt +10.830.8414.7316.2448.2520.2829.9327.9821.3513.90
Long Term Debt0.230.400.500.210.115.454.523.112.802.27
Short Term Debt10.600.4314.2316.0348.1414.8425.4124.8718.5611.63
Minority Interest0000000000
Trade Payables26.6475.2444.9075.8670.7124.6346.080.0482.7636.48
Others Liabilities 0.461.921.493.724.803.662.892.235.024.41
Total Liabilities 90.19130.26114.65151.17176.92102.58134.2287.93173.07151.03

Fixed Assets

Net Fixed Assets +6.756.476.355.975.555.435.194.876.317.20
Gross Block9.249.109.459.459.499.689.829.8811.7312.39
Accumulated Depreciation2.492.633.103.483.944.254.635.015.425.19
CWIP 00.090.090000000
Investments 9.1710.4015.358.172.542.633.70000
Inventories16.7027.2626.9496.0579.5814.6248.442.0540.9044.97
Trade Receivables17.2220.2126.518.0946.3019.0525.7025.7133.3923.70
Cash Equivalents 7.8231.5421.5718.6219.0520.5319.5418.6359.3029.65
Others Assets 32.5234.2917.8514.2623.8940.3231.6536.6733.1645.50
Total Assets 90.19130.26114.65151.17176.92102.58134.2287.93173.07151.03

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -6.7932-20.03-13.37-40.7127.79-11.48-5.5446.61-46.47
PBT 1.401.722.112.831.331.451.482.988.459.13
Adjustment -1.11-2.75-0.99-1.15-6.350.25-1.77-3.35-2.15-1.19
Changes in Working Capital -6.6733.33-20.77-14.73-34.6826.45-10.64-4.841.67-52.04
Tax Paid -0.41-0.30-0.39-0.32-1.01-0.35-0.54-0.38-1.36-2.37
Cash Flow From Investing Activity + -0.612.14-2.419.6111.052.713.138.902.363.07
Capex -1.01-0.24-0.35-0.05-0.04-0.30-0.14-0.06-1.89-1.61
Net Investments -0.15-1.22-4.957.176.18-0.14-15.8200
Others 0.553.612.892.494.913.154.283.144.254.68
Cash Flow From Financing Activity + 5.50-10.4212.460.8130.09-29.027.35-4.26-8.3013.74
Net Proceeds from Shares 00000000028
Net Proceeds from Borrowing 0.080.170.09-0.17-0.127.31-1.29-2.07-0.30-0.61
Interest Paid -1.33-0.43-1.43-0.81-1.90-3.03-1.94-1.65-1.64-2.90
Dividend Paid 000000000-1.22
Others 6.75-10.1613.791.7932.11-33.3010.58-0.54-6.36-9.53
Net Cash Flow -1.9023.72-9.98-2.950.431.48-0.99-0.9040.67-29.65

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)1.871.922.713.662.241.981.974.4210.398.5
ROCE (%)4.663.745.895.243.745.044.195.3311.6612.18
Asset Turnover Ratio1.431.10.961.341.081.11.331.262.041.78
PAT to CFO Conversion(x)-7.1532.32-14.11-6.75-33.6426.22-10.63-2.227.38-6.83
Working Capital Days
Receivable Days35.8056.3072.4035.6056.3077.8051.8066.8040.5036.10
Inventory Days29.4066.1083.90126.50181.70112.207365.6029.4054.30
Payable Days51.20176.60202.70133.30161.80119.108461.8060.7080.50

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *53.0053.0053.0053.0053.0053.0053.0053.0047.6347.63
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

VMS Industries Ltd FAQs

The current trading price of VMS Industries on 12-Jun-2026 16:59 is ₹22.98.

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 11-Jun-2026 the market cap of VMS Industries stood at ₹56.24 Cr

The latest P/E ratio of VMS Industries as of 11-Jun-2026 is 38.44.

The latest P/B ratio of VMS Industries as of 11-Jun-2026 is 0.58.

The 52-week high of VMS Industries is ₹47.96 and the 52-week low is ₹18.01.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of VMS Industries is ₹157 ( Cr.) .

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

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

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of VMS Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About VMS Industries Ltd

VMS Industries Ltd was originally incorporated under the name of Varun Management  Services Private Limited on 2nd December 1991 with the Registrar of Companies, Gujarat ( Dadar & Nagar Haveli). The name of the company was changed to VMS INDUSTRIES PRIVATE LIMITED with effect from 22nd May 2007. Pursuant to this the Company got converted into a Public Limited Company, the word “Private” was deleted from the name of our Company by necessary resolution passed on 31st December 2009.

Company’s Business ProfileThe company on its incorporation started the business activity in the nature of providing different kinds of financial and consulting services and later on diversified into the ship recycling and off- shore activities

Currently the company is engaged in the following activities :

Ship Recycling Activities:-The Company carries ship-recycling activities at Alang, near Bhavnagar (Gujarat), one of the world largest ship recycling yard. The company have a capacity of accommodating ships upto 40000 M.T. .Till date the company has acquired  numbers of ships for dismantling.

Off-Shore Business Support Activities:- The company entered into the Off shore business activities in 2008 and have Tug of 15 TBP and providing on charter basis in spot market.

Investment in Partnership Firm:- The company entered into a Partnership with Eternal Automobiles (Two wheeler dealership of Honda scooter and motorcycle) in the year 2007. The company have share of 70 % in the Eternal Automobiles and the balance 30% is been hold by Smt. Sangeeta M Jain and other family members.

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