Tuesday, March, 18,2025

Latest News

VMS Industries Ltd reports Revenue of Rs. 266.4 crore in FY24 with 89.7% growth Y-o-Y; PAT up 152.9% to Rs. 6.3 crore

Ahmedabad (Gujarat): Gujarat based VMS Industries Ltd (BSE - 533427) has reported excellent operational and financial performance of the 12 months ended March 2024. Company has achieved highest ever Annual Revenue of Rs. 266.37 crore for FY24 with 89.7% Y-o-Y growth as compared to revenue of Rs. 140.39 crore in the corresponding period of FY23.

Company announced first interim dividend of Rs. 0.50 per share

Highlights:

  • Company has also bagged new orders worth approx. Rs. 168 crore.

  • Company anticipate a strong revenue performance across major segments fuelled by expected growth in ship recycling business and Asset dismantling business.

  • Company has successfully completed Rs. 28 crore rights issue in the month of May 2024

Net Profit for the Full year of FY24 surged to Rs. 6.32 crore, representing a growth of 152.9% as compared to PAT of Rs. 2.50 crore in FY23. EBITDA for the FY24 was reported at Rs. 10.54 crore, 110% growth Y-o-Y as compared to EBITDA of Rs. 5.02 crore in FY23. In FY 24, company has continued its trajectory of robust growth, reporting significant improvements across key financial metrics. Company has also bagged new orders worth approx. Rs. 168 crore.

The board of directors in the meeting held on July 3, 2024 announced the first interim dividend for FY24-25 of Rs. 0.50 per share on Rs. 10 face value. This move underlines the company’s commitment to rewarding its investors and signifies the substantial growth and success achieved over the years.

Financial Highlights (Rs. crore)

Particulars

12 Months FY 24

12 Months FY 23

% Change

Revenue

266.37

140.39

89.7%

EBITDA

10.54

5.02

110.1%

Profit Before Tax

8.45

2.98

183.1%

Profit After Tax

6.32

2.50

152.9%

Sharing more details, Mr. Manojkumar Jain, Managing Director VMS Industries Limited said – “We are immensely proud of VMS Industries Limited’s exceptional performance in 12M Fy’24, marked by robust revenue growth and profitability. Our strategic initiatives have yielded significant results, as evidenced by the substantial increase in revenue and profitability metrics. The efficient management of working capital and focus on asset dismantling business further underscore our operational excellence and resilience. Looking ahead, we anticipate a strong revenue performance across major segments fuelled by expected growth in ship recycling business and Asset dismantling business.”

Outlook and Future plans – VMS Industries Limited remains committed to its growth trajectory, with a focus on strategic initiatives and future Opportunities.

Future Opportunities: In last 10 years more than 7000 vessels have been recycled world-wide, out of which more than 35% vessels were recycled in India and in the coming 10 years this figure is expected to double. Moreover share of India in ship recycling is also expected to increase. India has better chance and not much competition. Based on which we are anticipating robust growth in ship breaking and Assets Dismantling & Demolition in India. VMS Industries Limited remains optimistic about its future prospects, poised for sustained growth and value creation for stakeholders.

Incorporated in December 1991, VMS Industries Ltd recycles ships, exports products related to ships, and buys and dismantles ships. Company also trades in ferrous and non-ferrous metals. VMSI is headquartered in Ahmedabad, India. Company is certified by ISO 9001:2008, ISO14001:2004, ISO 30000-2009, and OHSAS18001:2007 for its ship recycling and offshore business.

Company in the month of May 2024 launched a rights issue of Rs. 28 crore to fund its expansion plans, meet working capital requirements, and general corporate purposes. The right issue was fully subscribed at 1.25 times the offer.

Company’s business segments include: i) Ship recycling: Company breaks down old ships into their parts and recycles them. The company has an industrial plot at Alang, Bhavnagar, using technology that reduces environmental hazards. ii) Trading of various Metals: Company trades in various metals encompasses a dynamic market where recyclable metal materials are bought, sold, and repurposed worldwide. iii) Assets Dismantling/Demolition: Asset dismantling or demolition is a complex process that deconstructs industrial facilities like manufacturing plants and warehouses. It requires specialized expertise, equipment, and adherence to safety protocols and environmental regulations.

ABOUT VMS INDUSTRIES LIMITED 

VMS Industries was incorporated on December 2, 1991 with the object of carrying on the business of providing different kinds of consulting and information technology services. During 1992- 1994, the Company was engaged in computerization of land revenue records of Bhavnagar Municipal Corporation.

The Ship Breaking Industry was revived in the year 2003-04 and therefore we decided to diversify activities. During the year 2004, Gujarat Maritime Board auctioned vacant plots and under open bid we have been allotted vacant Plot No. 160 at Alang-Sosiya Ship Breaking Yard admeasuring 1350 sq. meter.

In the year 2022 size of the plot was increased from 2700 Sq. Mtr to 5400 Sq. Mtr. The ship-breaking facility received certifications from NK Class (Japan), and ISO certifications (9001, 14001 & 45001) from Bureau veritas.

Now, leveraging its established contacts in the metal industry, the Company aims to diversify into the dismantling/demolition of Assets. The Company has started making participation in various Bids to acquire factories for dismantling.

In line with the same, the Company has participated in Bid and secured dismantling / cutting / sale of incomplete Ships and ship blocks lying at ABG shipyard, Dahej Shipyard weighing approximately 48000 MT valuing Rs.163.20 Crores plus GST from Welspun Corp Limited.

Presently VMS Industries is mainly engaged in the business activities of Ship Recycling, Trading of Various Metals and Asset Dismantling/Demolition.

  Share on

Related News

visit e-papers

Daily Astro

18-03-2025

image

Aries

Ganesha says it will be an important day for you, Aries. Your energy and confidence are ready to take you to new heights. Today you will be able to express your thoughts with clarity, which will increase your communication skills. New opportunities may arise in the working areas, which you have to be ready to take advantage of. In social life, you can make new meetings, which will prove beneficial for you in the future. This day will be good for solving family issues, and you will be able to establish better relations with your close ones. In the field of health, take care of your routine and resort to yoga or meditation to relieve mental stress. Controlling your expenses will be a smart move, as any sudden financial need may arise. Overall, this day is for you to stay positive, just use your insight and energy properly.

image

Pisces

Ganesha says it is going to be a positive day for you. Your sensitivity and intuition will flourish today, allowing you to establish better connections between yourself and others. It is time to connect with someone or refresh old memories. Try to communicate with people close to you, as it will strengthen your relationships. In the field of work, your creativity will be cyclical today. If you are working on a project, your ideas will be new and full of innovation. Do not be afraid to share your ideas, it will give you positive feedback from your colleagues. In terms of financial condition, avoid any big investments. Small expenses will prove to be justified but think well before making any big decisions for the long term. In terms of health, focus on a balanced diet and regular exercise. For mental health, practicing meditation or yoga will help keep you stress-free.

image

Aquarius

Ganesha says new opportunities are likely to open up for you. You will be in a position to take your creative abilities to new heights. This is the time to share your ideas and make new plans. Your friends and family will support your ideas, so it will be beneficial to take their advice into account. Positive changes are possible in business. This is the right time to work on an important project. You will get an opportunity to use your skills and knowledge properly. But, be careful; in some cases, you will need to control your emotions. In personal life, relationships will deepen. You will try to spend more time with your loved ones. This is a good time for love and companionship. Enjoy emotional moments that will make your relationships stronger. Be health conscious. Dedication to yoga and meditation will give you mental peace. These activities will keep not only your body but also your mind active. Overall, today will be full of possibilities for you. Stay committed to your dreams and work on them.

image

Capricorn

Ganesha says your day is full of some new possibilities. You will experience grace and stability in your actions. This is the time to focus on your goals and work with determination to pursue your plans. You are likely to get success in your work, especially if you maintain your hard work and dedication. Positive changes can also be seen in your relationships. You will get a chance to spend time with family and listen to them, which will increase mutual understanding and depth. Focus on communication, as it will make your relationships stronger. However, it is also time to make monthly plans. Take care of your financial matters and try to save. This is the time when you can take concrete steps for your future. Your health condition is likely to remain normal but take some rest. Maintaining a mental balance will be important for you. Stay positive and keep faith in your actions!

image

Sagittarius

Ganesha says today will be full of new possibilities and positive energy for you. You will feel a rise in your confidence, which will keep you open to new opportunities. This is the right time to make an important decision. Your spirituality and intuition will be strong, which will enable you to understand and face difficulties. Spending time with friends and family will awaken a sense of happiness and satisfaction in your mind. Relationships with colleagues at work can take a new direction. Cooperation and communication will help solve problems. If you face an obstacle or challenge, remember that you can overcome it. In terms of health, you may need to make a little improvement in your routine. Regular exercise and a balanced diet will give you freshness and energy. Strengthening social relationships and contacting new people will also be beneficial today. This is the time for self-growth and positive change for you, so recognize the energy within you and use it properly.

image

Scorpio

Ganesha says today will be full of enthusiasm and energy. You will move towards achieving your goals, and your hard work will pay off. Social life will also be active; you will get a good chance to spend time with friends and family. In terms of health, take a little caution. Focusing on meditation and exercise will help reduce mental stress. This is also a good time to take up a new hobby, which can unleash your creativity. Take wise steps in terms of money. Make informed decisions while investing. For potential financial gains, take a look at past projects again. Your career is showing good signs of progress. Your ideas may be appreciated at the workplace, which will increase your confidence. Still, some issues may require restraint. Overall, today will prove to be positive and auspicious for you. Spend it with pride with your loved ones.

image

Libra

Ganesha says today will be a very auspicious and positive day. You will get a chance to clarify your thoughts, which will bring stability to your personal and professional relationships. Your communication skills will increase, and this will open the doors of new possibilities for you. Your creativity and aesthetic sense will be especially strong today. If you are associated with any art or design, your work will be appreciated. This is the right time to express your feelings. If you are confused about a decision, trust your intuition; it will show you the right path. In terms of health, small changes can make your life better. Focus on regular exercise and a balanced diet. In love and relationships, a new understanding will develop, which will strengthen the mutual bond even more. Overall, this day is a sign of positive changes and new beginnings for you. Stay focused on your goals and recognize your inner strengths.

image

Virgo

Ganesha says today is a suitable day to highlight your cognitive abilities and business skills. Today, you will be full of clarity and precision in your actions, which will increase your value among your colleagues and superiors. There is a possibility of bringing some changes to your routine, which will bring positive results for you. This is a good time to improve relations with family members. Try to resolve any old disputes, and keep communication open. In terms of health, meditation and yoga will bring mental peace. Also, take some time out of your routine for exercise. From a financial point of view, this is the right time to make a good plan for the right investment. Take a good look at the options available to you and make a wise decision. Overall, today will prove to be a day of new possibilities and positive changes for you. Be full of confidence and stay focused on your goals.

image

Leo

Ganesha says today will be a day full of energy and inspiration. Your confidence will increase and your thoughts will come out with clarity. On this day, you will be able to see some new possibilities in your career, which will bring you hard work. Mutual understanding and harmony will increase your relationship, which will create a happy atmosphere among the family. This is a great time to express your thoughts clearly, so do not hesitate to communicate with your partner or friends. It is important to be health conscious, a little exercise and meditation will maintain your mental and physical health. Overall, this day will bring activity and positivity for you, so make the most of all the opportunities!

image

Cancer

Ganesha says it will be a day of information and communication for you. Your mind will be full of ideas and you will be able to express your ideas well. There is a possibility of some new opportunities in professional life, which can prove beneficial for you. It is a good time to strengthen relationships with your colleagues, so work together at the workplace. Your emotional state will also be strong. Time spent with family will give you satisfaction. If you have any old problem going on, then the right time is coming to solve it. However, you need to keep your emotions under control, so that you do not get agitated over small things. In terms of health, try to practice yoga and meditation. It will empower you both mentally and physically. Take informed decisions in financial matters; do not rush into any investments. In summary, this day will be all about communication and cooperation, which will lead to positive changes for you.

image

Gemini

Ganesha says there will be a new energy and freshness in your thoughts, which will make your personality even more attractive. Social contacts are likely to increase, which will expand your network. You will be inspired to spend blissful time with your friends and family. Some positive changes can also be seen in the business sector. The results of your hard work will gradually start coming, and this will motivate you to move forward. Keep in mind that while sharing your ideology, work with empathy, this will strengthen your relationship with colleagues. It is important to be health conscious. A little attention and relaxation will give you mental freshness. Practicing yoga or meditation will be beneficial for you. This day will be full of positivity and new possibilities for you. Express your mind openly and do not hesitate to adopt new ideas.

image

Taurus

Ganesha says it will prove to be a positive day for you, Taurus. You will feel energetic and full of confidence. The time has come to reap the fruits of your hard work and efforts. The workload may stress you for a while, but you will face all the challenges recognizing your strengths. Sweetness will also remain in your relationships. Spending time with your family and friends will be a source of joy for you. Conversation with someone special can give you a new vision and promote mutual understanding. A special occasion may be organized among friends or family, which will bring happiness and harmony to you. Moments spent with loved ones will give you mental peace. It is important to be health conscious. A little exercise or yoga will give peace to your mind and energy to your body. Your day will be full of happiness and positivity, just keep your thoughts and emotions balanced.

Gallery

18-03-2025