VMS Industries Ltd

VMS Industries Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

VMS Industries Ltd

₹ 39.0 4.98%
17 Jan - close price
vmsil.com BSE: 533427
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]
Company's ship breaking yard is located at Alang-Sosiya belt, which constitutes nearly 90% of India’s ship-breaking activities and is India’s largest ship-breaking cluster. Company has 1 plot to carry out its ship recycling business at Alang which is leased out to Gujarat Maritime Board on a 10-year lease which gets renewed on expiry. The business model of VIL largely requires nonfund based facility (Letter of Credit) which is used to purchase the old ships for ship breaking activity. On purchase of ship, VIL is required to pay entire purchase value of the ship by availing LC limit from the bank whereas its sales happen over a period of time. Till date, company has recycled 37 ships viz. Annoula, Colombo Star 2, Jamaima, Kapadokia, Loretta D, etc. at Alang Ship Breaking yard

Website BSE
  • Market Cap ₹ 95.4 Cr.
  • Current Price ₹ 39.0
  • High / Low ₹ 75.0 / 31.0
  • Stock P/E 40.2
  • Book Value ₹ 23.0
  • Dividend Yield 1.28 %
  • ROCE 6.11 %
  • ROE 4.20 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Debtor days have improved from 55.9 to 32.1 days.

Cons

  • Promoter holding is low: 38.1%
  • Company has a low return on equity of 3.19% over last 3 years.
  • Promoters have pledged 53.0% 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

Sector: Ship Building Industry: Miscellaneous

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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
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 0.25 0.00 0.07 0.13 0.18 0.02 0.35 0.16 0.23 0.43 0.12 0.16 0.25
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
123 111 79 98 116 133 306 259
Operating Profit -1 0 -0 -1 -1 2 3 4
OPM % -1% 0% -0% -1% -1% 1% 1% 2%
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 0.64 0.42 0.22 0.39 0.41 0.68 0.92 0.96
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: 7%
5 Years: 20%
3 Years: 36%
1 Year: -15%
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 2013 Mar 2014 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

Ratios

Consolidated Figures in Rs. Crores / 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 142 204 129 87 17 69 58
ROCE % 3% 3% 4% 5% 8% 6%

Shareholding Pattern

Numbers in percentages

1 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
56.61% 56.61% 56.61% 56.61% 56.61% 56.61% 56.61% 56.61% 56.61% 56.61% 38.10% 38.10%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.40%
43.39% 43.39% 43.39% 43.39% 43.39% 43.40% 43.39% 43.39% 43.38% 43.39% 61.90% 61.49%
No. of Shareholders 1,9372,0652,0572,1752,2472,3202,3723,7173,4663,9997,67821,626

* 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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