Results for Quarter ended on 30.06.2025
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VMS Industries reported weak Q1 FY26 results with revenue from operations at ₹3,964 lakhs, down roughly 24% from ₹5,210 lakhs in Q1 FY25. Net profit collapsed to ₹43.47 lakhs from about ₹514 lakhs in the same quarter last year, a drop of around 91%. Operating margin compressed sharply to 2.57% versus 14.20% a year ago, and net profit margin fell to 1.10% from 10.26%. Basic EPS dropped to ₹0.71 from ₹2.20. The company also announced a shift to single-segment reporting covering only iron and steel scrap manufacturing and trading, citing integrated operations. Statutory auditor S N Shah & Associates issued a clean limited review report with no qualifications. Additionally, internal auditor was changed to M/s N R Kalal & Associates, replacing SNDK and Associates LLP.
Sharp YoY declines in both revenue and profits, combined with heavy margin compression, point to significant operating stress this quarter and are likely to be viewed negatively by investors. However, balance sheet metrics like debt-equity improved to 0.76 and current ratio to 2.27, suggesting liquidity is not an immediate concern.