VMS TMT Ltd.

•

vmstmt.comBSE: 544521NSE: VMSTMT

Market Cap₹ 225 Cr.

Current Price

High / Low₹ 105 / 34

Stock P/E13.3

Book Value₹ 47

Price to Book0.97

Dividend Yield0.00 %

ROCE14.0 %

ROE25.8 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 25.8%
Attractively priced for its growth - PEG of 0.4
Company converts assets efficiently - asset turnover of 2.2x

CONS

Company has a high debt-to-equity of 3.77x
Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.24x)
Interest coverage is weak at 1.9x - earnings barely cover interest

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	JSWSTEEL	1306.00	12.89	319376.29	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	183.60	20.77	229196.25	2.18	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	196.35	18.98	81102.86	1.20	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2522.00	28.81	66528.00	0.20	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	APLAPOLLO	2217.80	50.10	61579.08	0.38	263.11	10.94	5606.71	12.07	31.83	7.34
6.	JSL	733.55	18.62	60475.30	0.55	768.66	7.56	11278.54	10.50	19.19	12.09
7.	SHYAMMETL	1072.40	26.65	29934.10	0.42	350.73	20.66	5455.09	23.45	13.88	14.03
8.	JINDALSAW	309.55	30.29	19795.98	0.65	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2629.05	42.57	18427.54	0.38	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	490.90	15.31	17298.40	0.41	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	239.75	20.01	16140.90	0.42	222.37	2.75	1750.47	32.29	20.20	19.36
12.	VMSTMT	45.39	13.31	225.28	0.00	44.68	420.99	2477.57	1067.24	14.00	4.87

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	215	212	183	202	241	248
	203	202	171	185	229	242
Operating Profit	12	19	12	17	12	12
OPM %	5.56%	9.18%	6.60%	8.49%	4.85%	4.87%
Other Income	1	1	0	0	0	0
Interest	6	7	7	5	6	4
Depreciation	2	2	2	3	2	3
	5	11	3	10	3	6
Tax %	25.05%	25.28%	24.82%	16.94%	28.21%	21.35%
Net Profit	4	9	2	8	2	4
	1	0	1	2	0	0
Equity Capital	35	35	50	50	50	50
Reserves	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	494	882	873	770	874
	478	860	831	723	828
Operating Profit	16	22	42	48	—
OPM %	3	3	5	6	—
Other Income	0	0	0	1	1
Interest	6	13	18	21	22
Depreciation	1	4	4	7	10
	9	6	19	20	21
Tax %	24	24	30	23	21
Net Profit	7	4	13	15	17
EPS	7	4	10	4	—
Dividend Payout %	0	0	0	0	—
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	3	1	4	4	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 16%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 29%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 26%
Last Year:: 26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-
Equity Capital	10	13	13	35
	9	18	33	39
	47	69	76	130
Trade Payables	7	28	12	41
	85	99	150	169
Total Liabilities	158	227	285	413
ASSETS	-	-	-	-
	71	76	74	174
Capital Work in Progress	0	4	52	0
	43	106	109	152
	0	0	16	25
Cash & Bank	0	2	8	11
	43	40	27	51
Total Assets	158	227	285	413
Total Debt	118	163	198	276
Net Working Capital	20	33	15	25
Contingent Liabilities	2	2	17	1
Book Value per Share	18.88	24.45	34.87	21.13
Face Value	10.00	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-31	-11	37	-18
Cash from Investing	-18	-27	-50	-55
Cash from Financing	49	41	19	66
	0	2	6	-7
Free Cash Flow	-31	-23	-13	-74
OCF / Net Profit	-4.50	-2.69	2.77	-1.16
Cumulative 5-Year FCF	0	0	0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	6.95	3.33	10.10	4.45
Book Value (₹)	18.88	24.45	34.87	21.13
Dividend per Share (₹)	0.00	0.00	0.00	0.00
Cash EPS (₹)	3.36	2.46	5.22	6.42
PROFITABILITY
Operating Margin %	3.25%	2.50%	4.75%	6.12%
Net Margin %	1.39%	0.48%	1.54%	2.00%
ROE %	36.82%	16.94%	34.82%	25.76%
ROCE %	10.72%	11.20%	17.25%	14.00%
	4.36%	2.18%	5.26%	4.42%
EFFICIENCY
Debtor Days	24	8	5	10
Inventory Days	32	31	45	62
Payable Days	6	8	10	15
	50	31	41	56
FINANCIAL HEALTH
Debt to Equity (x)	6.30x	5.28x	4.25x	3.77x
Interest Coverage (x)	2.60x	1.43x	2.04x	1.94x
	1.30x	1.33x	1.11x	1.12x
GROWTH
Revenue Growth %	0.00%	78.64%	-1.03%	-11.77%
Operating Profit Growth %	0.00%	37.31%	89.09%	15.90%
Net Profit Growth %	0.00%	-39.02%	221.04%	14.48%
	0.00%	0.00%	203.60%	-55.91%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	4.87x	6.19x

Shareholding Pattern

Numbers in percentages

	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.18	67.18	67.18	67.18
	3.45	3.11	2.04	2.04
	3.25	3.02	2.85	2.85
Government	0.00	0.00	0.00	0.00
	26.12	26.69	27.94	27.94

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24 - VMS TMT Limited has informed the Exchange about Transcript

2026-08-18

Investor Presentation

2026-08-18 - VMS TMT Limited has informed the Exchange about Investor Presentation

2026-08-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - VMS TMT Limited has informed the Exchange about

2026-08-14

Copy of Newspaper Publication

2026-08-14 - VMS TMT Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

General Updates

2026-08-13 - VMS TMT Limited has informed the Exchange about General Updates

2026-08-13

Press Release

2026-08-13 - VMS TMT Limited has informed the Exchange regarding a press release dated August 13, 2026, titled "VMS TMT LimitedAnnounces Q 1 FY2 7 Results".

2026-08-13

Outcome of Board Meeting

2026-08-13 - VMS TMT Limited has informed the Exchange regarding Outcome of Board Meeting held on August 13, 2026 to consider and approve the unaudited financial result for the quarter ended on 30.06.2026

2026-08-13

Outcome of Board Meeting

2026-08-13 - VMS TMT Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-30

Structural Digital Database

2026-07-30 - SDD CERTIFICATE 30 JUNE, 2026

News

Recent coverage and analyst commentary for VMSTMT

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VMS TMT Ltd.

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Free 5nance Account

Name

JSWSTEEL

1306.00

12.89

319376.29

0.54

4696.00

112.58

47364.00

11.55

20.67

19.60

TATASTEEL

183.60

20.77

229196.25

2.18

2385.24

18.82

60794.29

15.26

12.70

15.40

SAIL

196.35

18.98

81102.86

1.20

1644.05

120.80

26245.67

1.25

7.08

15.92

WELCORP

2522.00

28.81

66528.00

0.20

1047.88

200.11

4081.12

14.91

23.94

32.17

APLAPOLLO

2217.80

50.10

61579.08

0.38

263.11

10.94

5606.71

12.07

31.83

7.34

JSL

733.55

18.62

60475.30

0.55

768.66

7.56

11278.54

10.50

19.19

12.09

SHYAMMETL

1072.40

26.65

29934.10

0.42

350.73

20.66

5455.09

23.45

13.88

14.03

JINDALSAW

309.55

30.29

19795.98

0.65

90.79

-78.15

4452.31

9.00

10.38

8.79

RATNAMANI

2629.05

42.57

18427.54

0.38

107.03

-15.82

971.63

-15.63

18.01

16.69

SARDAEN

490.90

15.31

17298.40

0.41

478.13

9.50

1608.04

-1.07

17.76

41.59

GPIL

239.75

20.01

16140.90

0.42

222.37

2.75

1750.47

32.29

20.20

19.36

VMSTMT

45.39

13.31

225.28

0.00

44.68

420.99

2477.57

1067.24

14.00

4.87

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

215

212

183

202

241

248

203

202

171

185

229

242

Operating Profit

OPM %

5.56%

9.18%

6.60%

8.49%

4.85%

4.87%

Other Income

Interest

Depreciation

Tax %

25.05%

25.28%

24.82%

16.94%

28.21%

21.35%

Net Profit

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

494

882

873

770

874

478

860

831

723

828

Operating Profit

—

OPM %

—

Other Income

Interest

Depreciation

Tax %

Net Profit

EPS

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

—

Mar 2022

Mar 2023

Mar 2024

Mar 2025

LIABILITIES

Equity Capital

130

Trade Payables

150

169

Total Liabilities

158

227

285

413

ASSETS

174

Capital Work in Progress

106

109

152

Cash & Bank

Total Assets

158

227

285

413

Total Debt

118

163

198

276

Net Working Capital

Contingent Liabilities

Book Value per Share

18.88

24.45

34.87

21.13

Face Value

10.00

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-31

-11

-18

Cash from Investing

-18

-27

-50

-55

Cash from Financing

-7

Free Cash Flow

-31

-23

-13

-74

OCF / Net Profit

-4.50

-2.69

2.77

-1.16

Cumulative 5-Year FCF

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

6.95

3.33

10.10

4.45

Book Value (₹)

18.88

24.45

34.87

21.13

Dividend per Share (₹)

0.00

Cash EPS (₹)

3.36

2.46

5.22

6.42

PROFITABILITY

Operating Margin %

3.25%

2.50%

4.75%

6.12%

Net Margin %

1.39%

0.48%

1.54%

2.00%

ROE %

36.82%

16.94%

34.82%

25.76%

ROCE %

10.72%

11.20%

17.25%

14.00%

4.36%

2.18%

5.26%

4.42%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

FINANCIAL HEALTH

Debt to Equity (x)

6.30x

5.28x

4.25x

3.77x

Interest Coverage (x)

2.60x

1.43x

2.04x

1.94x

1.30x

1.33x

1.11x

1.12x

GROWTH

Revenue Growth %

0.00%

78.64%

-1.03%

-11.77%

Operating Profit Growth %

0.00%

37.31%

89.09%

15.90%

Net Profit Growth %

0.00%

-39.02%

221.04%

14.48%

0.00%

203.60%

-55.91%

VALUATION

P/E (x)

0.00x

P/B (x)

0.00x

Dividend Yield %

0.00%

0.00x

4.87x

6.19x

Sep 2025

Dec 2025

Mar 2026

Jun 2026

67.18

3.45

3.11

2.04

3.25

3.02

2.85

Government

0.00

26.12

26.69

27.94

VMS TMT Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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VMS TMT Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI