Out Comes of Board Meeting held on 12th August 2025 for approval of Unaudited Results for Quarter ended on 30.06.2025 with other business transacted at Board meeting
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VMS Industries Limited announced Q1 FY26 (quarter ended 30 June 2025) unaudited results with revenue from operations of ₹3,964.02 lakhs, a sharp ~62% drop YoY from ₹10,542.49 lakhs in Q1 FY25. Net profit stood at ₹43.47 lakhs with EPS of ₹0.71, compared to ₹60.61 lakhs (EPS ₹2.20) in the year-ago quarter. Total expenses came in at ₹4,057.48 lakhs, leaving profit before tax at ₹60.73 lakhs. The company has consolidated its earlier multiple reportable segments into a single segment — Manufacturing and Trading of Iron and Steel Scrap — with effect from 30 June 2025. Separately, a new internal auditor M/s N R KALAL & ASSOCIATES has been appointed in place of the previous internal auditor SNDK and Associates LLP due to pre-occupation, and the statutory auditor M/s S N SHAH AND ASSOCIATES issued an unqualified limited review report.
The steep ~62% YoY revenue decline is a major red flag for shareholders, pointing to either a sharp slowdown in the iron and steel scrap business or a fundamental shift in operations. The move to a single reportable segment reduces visibility into business performance and may affect comparability with past results.