VMS Industries Ltd

₹ 16.5 -2.77%

09 Nov - close price

About

Incorporated in 1991, VMS Industries
Ltd is in the business of ship breaking
and trading of Ferrous and Non-Ferrous
metals^[1]

Key Points

Business Overview:^[1]^[2]^[3]
VIL is a flagship company of VMS group. It used to provide consulting and information technology services for land revenue records, ration cards and ration shops for Bhavnagar Municipal Corporation and provide gas supply to the ship recycling units at Alang, Gujarat. Currently, company is engaged in ship breaking /recycling activity at Alang, Gujarat, which is the leading centre for ship breaking and recycling in Asia. VIL was allotted berth numbers 159 and 160, which
was later on merged as 160M to handle a peak level of 70,000 LDT (Light Displacement Tonnage). The company has 37 ships for its ship recycling activities. Apart from this, the company is also engaged in trading of Ferrous and Non-Ferrous metals.

Website BSE

Market Cap ₹ 40.4 Cr.
Current Price ₹ 16.5
High / Low ₹ 34.0 / 16.1
Stock P/E 17.0
Book Value ₹ 31.8
Dividend Yield 0.00 %
ROCE 6.11 %
ROE 4.20 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Stock is trading at 0.52 times its book value
Company is expected to give good quarter
Debtor days have improved from 55.9 to 32.1 days.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding is low: 38.1%
Company has a low return on equity of 3.19% over last 3 years.
Promoters have pledged 47.6% of their holding.
Earnings include an other income of Rs.2.33 Cr.
Promoter holding has decreased over last 3 years: -18.5%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019
	44.85	19.14	31.92	29.59	30.51	12.90	61.76	59.15	46.60	87.38	79.98	36.14	59.64
YoY Sales growth	+29.40%	-51.36%	+29.13%	+49.14%	-31.97%	-32.60%	+93.48%	+99.90%	+52.74%	+577.36%	+29.50%	-38.90%	+27.98%
	43.25	19.80	32.40	29.47	29.72	13.61	60.41	59.00	46.00	85.30	79.80	35.17	58.80
Operating Profit	1.60	-0.66	-0.48	0.12	0.79	-0.71	1.35	0.15	0.60	2.08	0.18	0.97	0.84
OPM %	3.57%	-3.45%	-1.50%	0.41%	2.59%	-5.50%	2.19%	0.25%	1.29%	2.38%	0.23%	2.68%	1.41%
	0.00	0.92	1.37	1.02	1.02	0.78	1.32	0.78	0.56	0.10	0.83	0.77	0.63
Interest	0.55	0.09	0.45	0.50	0.81	0.00	1.31	0.21	0.30	0.41	0.52	1.07	0.63
Depreciation	0.09	0.12	0.10	0.03	0.32	0.00	0.24	0.15	0.11	0.16	0.14	0.12	0.12
Profit before tax	0.96	0.05	0.34	0.61	0.68	0.07	1.12	0.57	0.75	1.61	0.35	0.55	0.72
Tax %	35.42%	100.00%	47.06%	47.54%	35.29%	28.57%	23.21%	31.58%	24.00%	34.78%	17.14%	27.27%	13.89%
	0.61	0.00	0.18	0.32	0.44	0.04	0.85	0.39	0.57	1.05	0.30	0.40	0.62
EPS in Rs	0.34	0.00	0.10	0.18	0.25	0.02	0.48	0.22	0.32	0.59	0.17	0.23	0.35
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	TTM
	123	111	79	97	115	135	309	263
Sales growth		-9%	-29%	+24%	+18%	+17%	+129%	+46%
	123	111	79	98	116	133	306	259
Operating Profit	-1	0	-0	-1	-1	2	3	4
OPM %	-0.5%	0.3%	-0.4%	-1.2%	-0.7%	1.2%	1.0%	1.6%
	4	3	4	4	4	4	2	2
Interest	1	2	2	1	1	3	2	3
Depreciation	1	1	1	0	0	1	1	1
Profit before tax	2	1	1	1	2	2	3	3
Tax %	18%	31%	37%	32%	42%	33%	28%
	2	1	1	1	1	2	2	2
EPS in Rs	0.89	0.58	0.31	0.54	0.57	0.94	1.28	1.34
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	23%
3 Years:	47%
TTM:	46%

Compounded Profit Growth
10 Years:	%
5 Years:	16%
3 Years:	34%
TTM:	28%

Stock Price CAGR
10 Years:	0%
5 Years:	8%
3 Years:	-15%
1 Year:	-48%

Return on Equity
10 Years:	%
5 Years:	3%
3 Years:	3%
Last Year:	4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Sep 2019
Equity Capital	16	16	16	16	16	16	16	16
Reserves	34	35	35	36	36	37	39	40
	36	61	4	11	6	19	27	14
	5	2	6	29	78	49	81	72
Total Liabilities	91	113	61	92	136	122	163	142
	10	9	8	8	8	12	11	6
CWIP	0	2	3	4	4	0	0	0
Investments	4	3	4	4	5	10	3	9
	77	100	46	75	119	99	149	128
Total Assets	91	113	61	92	136	122	163	142

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
	35	-5	28	-19	-19
	-2	-3	3	-1	9
	-56	5	-6	11	7
Net Cash Flow	-24	-2	24	-10	-3
Free Cash Flow	35	-6	27	-20	-19
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	-11,853%	362%	-3,500%	-1,213%	-589%

Ratios

Consolidated / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Debtor Days	27	33	18	65	64	71	32
Inventory Days	56	99	3	66	94	79	119
Days Payable	1	1	0	102	260	135	94
Cash Conversion Cycle	82	131	20	29	-101	15	57
Working Capital Days	39	6	111	47	14	29	26
ROCE %		3%	3%	4%	5%	8%	6%

Insights

In beta

Mar 2016

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Total employees
employees ・Standalone data

	xx	xx	xx	xx	xx	xx	xx	xx	xxx
xx		xx	xx	xx	xx	xx	xx	xx
xxx,xxx		xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
			xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx

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Cumulative number of ships purchased
ships ・Standalone data

Cumulative tonnage of ships purchased
MT ・Standalone data

Ship recycling revenue share (Manufacturing segment)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	56.61%	56.61%	38.10%	38.10%	38.10%	38.10%	38.10%	38.10%	38.10%	38.10%	38.10%	38.10%
	0.00%	0.00%	0.00%	0.40%	0.39%	0.39%	0.39%	0.39%	0.39%	0.37%	0.37%	0.37%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.51%	0.10%	0.20%	0.20%	0.00%	0.00%	0.00%
	43.38%	43.39%	61.90%	61.49%	61.50%	60.99%	61.41%	61.30%	61.30%	61.52%	61.52%	61.52%
No. of Shareholders	3,466	3,999	7,678	21,626	21,556	21,451	22,643	22,960	22,662	22,787	22,083	21,465

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	56.61%	56.61%	56.61%	56.61%	56.61%	56.61%	56.61%	56.61%	38.10%	38.10%	38.10%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.39%	0.37%	0.37%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.51%	0.00%	0.00%
	43.39%	43.39%	43.39%	43.39%	43.39%	43.39%	43.40%	43.39%	60.99%	61.52%	61.52%
No. of Shareholders	859	834	989	979	1,274	2,065	2,320	3,999	21,451	22,787	21,465

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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VMS Industries Ltd

VMS Industries Ltd

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Profit & Loss

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Shareholding Pattern

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