Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 87.57 | 73.79 | 91.64 | 105.42 | 97.47 | 33.56 | 52.10 | 39.64 | 42.58 | 24.91 | 50.30 | 44.83 |
| Expenses | 84.42 | 70.25 | 90.81 | 103.13 | 97.58 | 33.76 | 46.18 | 39.51 | 42.68 | 25.00 | 50.55 | 44.89 |
| Operating Profit | 3.15 | 3.54 | 0.83 | 2.29 | -0.11 | -0.20 | 5.92 | 0.13 | -0.10 | -0.09 | -0.25 | -0.06 |
| OPM % | 3.60% | 4.80% | 0.91% | 2.17% | -0.11% | -0.60% | 11.36% | 0.33% | -0.23% | -0.36% | -0.50% | -0.13% |
| Other Income | 0.59 | 1.12 | 1.84 | 0.18 | 2.65 | 0.74 | 1.18 | 1.54 | 1.26 | 2.08 | 2.19 | 1.53 |
| Interest | 1.07 | 0.70 | 0.72 | 1.40 | 1.41 | -0.05 | 0.13 | 0.87 | 0.33 | 1.46 | 1.27 | 0.66 |
| Depreciation | 0.10 | 0.10 | 0.16 | 0.20 | 0.15 | 0.15 | 0.12 | 0.19 | 0.18 | 0.18 | 0.15 | 0.17 |
| Profit before tax | 2.57 | 3.86 | 1.79 | 0.87 | 0.98 | 0.44 | 6.85 | 0.61 | 0.65 | 0.35 | 0.52 | 0.64 |
| Tax % | 26.07% | 25.39% | 22.91% | 29.89% | 25.51% | 25.00% | 24.96% | 27.87% | 27.69% | 25.71% | 44.23% | 28.12% |
| Net Profit | 1.90 | 2.88 | 1.38 | 0.61 | 0.72 | 0.34 | 5.14 | 0.43 | 0.47 | 0.26 | 0.30 | 0.46 |
| EPS in Rs | 0.78 | 1.18 | 0.56 | 0.25 | 0.29 | 0.14 | 2.10 | 0.18 | 0.19 | 0.11 | 0.12 | 0.19 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 97 | 114 | 118 | 178 | 176 | 153 | 158 | 140 | 266 | 289 | 157 | 163 |
| Expenses | 98 | 115 | 117 | 176 | 178 | 153 | 159 | 141 | 260 | 281 | 158 | 163 |
| Operating Profit | -1 | -1 | 1 | 2 | -2 | 0 | -2 | -0 | 6 | 8 | -0 | -0 |
| OPM % | -1.2% | -0.7% | 0.9% | 0.9% | -0.9% | 0.3% | -1.1% | -0.2% | 2.3% | 2.7% | -0.2% | -0.3% |
| Other Income | 4 | 3 | 3 | 2 | 5 | 4 | 6 | 5 | 4 | 5 | 7 | 7 |
| Interest | 1 | 0 | 1 | 1 | 2 | 3 | 2 | 2 | 2 | 3 | 4 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Profit before tax | 1 | 2 | 2 | 3 | 1 | 1 | 1 | 3 | 8 | 9 | 2 | 2 |
| Tax % | 32% | 43% | 33% | 30% | 9% | 27% | 28% | 16% | 25% | 25% | 31% | |
| Net Profit | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 2 | 6 | 7 | 1 | 1 |
| EPS in Rs | 0.39 | 0.40 | 0.58 | 0.81 | 0.49 | 0.43 | 0.44 | 1.02 | 2.58 | 2.78 | 0.60 | 0.61 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 5% | 1% | 4% | -27% | ||
| Compounded Profit Growth | 4% | 6% | 26% | -78% | ||
| Stock Price CAGR | 2% | 8% | -15% | -49% | ||
| Return on Equity | 4% | 5% | 6% | 2% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 24 | 24 |
| Reserves | 35 | 36 | 36 | 37 | 39 | 37 | 38 | 39 | 41 | 47 | 72 | 73 |
| Borrowings | 4 | 11 | 1 | 15 | 16 | 48 | 22 | 32 | 29 | 22 | 15 | 29 |
| Other Liabilities | 4 | 27 | 77 | 46 | 79 | 75 | 26 | 47 | 1 | 85 | 39 | 35 |
| Total Liabilities | 60 | 90 | 130 | 114 | 151 | 177 | 102 | 134 | 88 | 172 | 150 | 162 |
| Fixed Assets | 6 | 7 | 6 | 6 | 6 | 6 | 5 | 5 | 5 | 6 | 7 | 7 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 9 | 9 | 10 | 15 | 8 | 3 | 3 | 4 | 0 | 0 | 0 | 0 |
| Other Assets | 45 | 74 | 113 | 92 | 137 | 169 | 94 | 125 | 83 | 165 | 142 | 155 |
| Total Assets | 60 | 90 | 130 | 114 | 151 | 177 | 102 | 134 | 88 | 172 | 150 | 162 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 35 | -7 | 32 | -20 | -13 | -41 | 28 | -11 | -6 | 47 | -46 | -31 |
| Cash from Investing Activity | -2 | -1 | 2 | -2 | 10 | 11 | 3 | 3 | 9 | 2 | 3 | 7 |
| Cash from Financing Activity | -56 | 6 | -10 | 12 | 1 | 30 | -29 | 7 | -4 | -8 | 14 | 11 |
| Net Cash Flow | -24 | -2 | 24 | -10 | -3 | 0 | 1 | -1 | -1 | 41 | -30 | -14 |
| Free Cash Flow | 35 | -8 | 32 | -20 | -13 | -41 | 27 | -12 | -6 | 45 | -48 | -31 |
| CFO/OP | -11,853% | 550% | -3,988% | -1,802% | -786% | 2,466% | 6,395% | 644% | 1,474% | 790% | -557% | 9,694% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 18 | 65 | 65 | 82 | 17 | 96 | 45 | 60 | 67 | 46 | 30 | 148 |
| Inventory Days | 3 | 64 | 94 | 91 | 212 | 176 | 37 | 115 | 6 | 60 | 61 | 36 |
| Days Payable | 0 | 102 | 261 | 152 | 167 | 156 | 62 | 109 | 0 | 121 | 49 | 82 |
| Cash Conversion Cycle | 20 | 27 | -102 | 22 | 61 | 115 | 20 | 65 | 72 | -16 | 41 | 101 |
| Working Capital Days | 108 | 44 | -3 | 18 | 42 | 55 | 75 | 74 | 98 | 2 | 76 | 174 |
| ROCE % | 3% | 5% | 4% | 6% | 5% | 4% | 5% | 4% | 3% | 12% | 12% | 5% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 56.61% | 56.61% | 56.61% | 38.10% | 38.10% | 38.10% | 38.10% | 38.10% | 38.10% | 38.10% | 38.10% | 38.10% |
| FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.40% | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% | 0.37% | 0.37% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.51% | 0.10% | 0.20% | 0.20% | 0.00% | 0.00% |
| Public | 43.39% | 43.38% | 43.39% | 61.90% | 61.49% | 61.50% | 60.99% | 61.41% | 61.30% | 61.30% | 61.52% | 61.52% |
| No. of Shareholders | 3,717 | 3,466 | 3,999 | 7,678 | 21,626 | 21,556 | 21,451 | 22,643 | 22,960 | 22,662 | 22,787 | 22,083 |
Fundamentals
Market Cap₹ 43.4 Cr.
Current Price₹ 17.7
Stock P/E29.1
Book Value₹ 39.7
ROCE5.08 %
ROE1.51 %
Dividend Yield2.82 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-27%
Compounded Profit Growth (TTM)-78%
Standalone figures.
Valuation
Market capRs 45 Cr
Enterprise valueRs 58 Cr
P/E (TTM)30.06x
Price to book0.46x
Price to sales0.28x
EV / EBITDA8.88x
EV / EBIT9.91x
EV / sales0.36x
Earnings yield3.33%
P/E, 3-year average16.57x
P/B, 3-year average0.70x
P/E, 5-year average15.23x
P/B, 5-year average0.56x
Profitability
Operating margin (excl. other income)-0.20%
Operating margin (incl. other income)4.29%
EBITDA margin4.03%
Pre-tax margin1.33%
Net profit margin0.92%
Net margin, latest quarter1.03%
ROE1.51%
ROCE5.08%
ROA0.94%
ROE, 3-year average6.80%
ROCE, 3-year average9.64%
ROA, 3-year average3.35%
ROE, 5-year average5.36%
ROCE, 5-year average7.69%
ROA, 5-year average2.64%
ROIC (approx.)3.69%
Tax rate30.66%
Other income / net worth7.27%
Growth
Sales growth (latest year)-45.44%
Profit growth (latest year)-78.53%
Sales CAGR, 3 years3.89%
Sales CAGR, 5 years0.54%
Profit CAGR, 3 years-16.41%
Profit CAGR, 5 years6.61%
Sales growth QoQ-10.87%
Profit growth QoQ53.33%
Sales growth YoY (latest quarter)13.09%
Profit growth YoY (latest quarter)6.98%
Per share
EPS (TTM)Rs 0.61
EPS (latest year)Rs 0.60
EPS (latest quarter)Rs 0.19
EPS, 3-year averageRs 2.40
EPS, 5-year averageRs 1.88
Book value per shareRs 39.70
Sales per shareRs 66.45
Cash flow per shareRs -12.79
Free cash flow per shareRs -12.67
Efficiency
Asset turnover0.97x
Fixed asset turnover24.07x
Inventory turnover10.41x
Inventory days35 days
Debtor days148 days
Debtors turnover2.47x
Creditor days82 days
Cash conversion cycle101 days
Working capital days174 days
Leverage
Total debtRs 29 Cr
Cash and bankRs 16 Cr
Net debtRs 13 Cr
Debt to equity0.30x
Net debt / EBITDA2.05x
Interest coverage1.58x
Owners' fund to total sources60.10%
Debt to assets18.22%
Cash flow
Cash from Operating Activity (latest year)Rs -31 Cr
Cash from Investing Activity (latest year)Rs 7 Cr
Cash from Financing Activity (latest year)Rs 11 Cr
Net Cash Flow (latest year)Rs -14 Cr
Free cash flow (latest year)Rs -31 Cr
FCFE (approx.: FCF + change in debt)Rs -16 Cr
Cash from ops / profit, 5 years-2.76x
Statement figures
Net sales (TTM)Rs 163 Cr
Net sales (latest year)Rs 157 Cr
Sales (latest quarter)Rs 45 Cr
Operating profit excl. other income (latest year)Rs -0 Cr
Operating profit (latest quarter)Rs -0 Cr
Other income (TTM)Rs 7 Cr
EBITDA (TTM)Rs 7 Cr
PBDT (TTM)Rs 3 Cr
Profit before tax (TTM)Rs 2 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 1 Cr
Net profit (latest year)Rs 1 Cr
Net profit (latest quarter)Rs 0 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 4 Cr
Cost of goods sold (latest year)Rs 153 Cr
Total expenditure (latest year)Rs 158 Cr
Total income (latest year)Rs 164 Cr
Share capitalRs 24 Cr
ReservesRs 73 Cr
Shareholders' fundsRs 97 Cr
Total assetsRs 162 Cr
Net blockRs 7 Cr
ReceivablesRs 64 Cr
InventoryRs 15 Cr
Other liabilitiesRs 35 Cr
Shares outstanding (crore)2.45
Ownership
Promoter holding38.10% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 30.1 is at the 70th percentile of its own 9.4-year range
(median 26.3, low 6.3, high 45.2).
P/B 0.46 is at the 14th percentile (median 0.68).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 533427 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +1.8% | -2.8% | +4.6 pts |
| 1 month | +1.9% | -6.8% | +8.7 pts |
| 3 months | -16.3% | -7.6% | -8.7 pts |
| 3 years | -36.6% | +14.2% | -50.8 pts |
| 5 years | +51.5% | +27.9% | +23.6 pts |
Red flags
F-score 2 of 8| explain | Weak cash conversion Cash from operations was -214% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 20% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 169% vs sales -45% in 2026 |
| explain | Debt up, profit down Borrowings up 98% while net profit fell in 2026 |
| look | Profit leans on other income Other income was 333% of pre-tax profit in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹45 Cr +13.1% vs Jun 2025.
Net profit ₹0 Cr +7.0%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Adani Ports & Special Economic Zone Ltd | 419,781 | 31.6 | 14.1 % |
| JSW Infrastructure Ltd | 81,550 | 52.6 | 13.6 % |
| Gujarat Pipavav Port Ltd | 7,761 | 14.3 | 28.1 % |
| Allcargo Terminals Ltd | 713 | 16.9 | 11.2 % |
| Starlog Enterprises Ltd | 60 | -15.1 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of VMS Industries Ltd?
VMS Industries Ltd (533427) has a market capitalisation of Rs 43.4 Cr. at the 2026-10-01 close.
What is the P/E ratio of VMS Industries Ltd?
VMS Industries Ltd trades at a P/E of 29.1 on trailing twelve-month profit, at the 2026-10-01 close.
What were VMS Industries Ltd's latest quarterly results?
In the Jun 2026 quarter, VMS Industries Ltd sales was Rs 45 Cr (+13.1% vs Jun 2025) and net profit was Rs 0 Cr.