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VMS Industries Q2 FY27 results: net profit flat at ₹0.47 crore, revenue down 55.2%
VMS Industries Ltd reported standalone Q2 FY27 revenue of ₹19.07 crore, down 55.2% from Q2 FY26 and 57.5% from Q1 FY27. EBITDA moved to a profit of ₹2.83 crore from a loss of ₹0.10 crore a year ago and a loss of ₹0.06 crore in the previous quarter, while net profit was ₹0.47 crore and basic EPS was ₹0.76.
Key points
- Standalone Q2 FY27 revenue was ₹19.07 crore, down 55.2% from ₹42.58 crore in Q2 FY26 and 57.5% from ₹44.83 crore in Q1 FY27.
- Q2 FY27 EBITDA was ₹2.83 crore, compared with a loss of ₹0.10 crore in Q2 FY26 and a loss of ₹0.06 crore in Q1 FY27.
- EBITDA margin was 14.8% in Q2 FY27, up 15.0 percentage points from the year-ago quarter and 14.9 percentage points from the previous quarter.
- Net profit was ₹0.47 crore in Q2 FY27, unchanged from Q2 FY26 and up 2.2% from ₹0.46 crore in Q1 FY27; basic EPS was ₹0.76.
- H1 FY27 revenue was ₹63.89 crore, down 22.3% from H1 FY26, while profit after tax was ₹0.93 crore, up 3.3% from ₹0.90 crore.
How did VMS Industries perform in Q2 FY27?
VMS Industries reported standalone revenue of ₹19.07 crore for the quarter ended 30 September 2026, down 55.2% from ₹42.58 crore in Q2 FY26 and 57.5% from ₹44.83 crore in Q1 FY27. EBITDA was ₹2.83 crore, compared with a loss of ₹0.10 crore in Q2 FY26 and a loss of ₹0.06 crore in Q1 FY27; the margin was 14.8%.
Profit before tax was ₹0.55 crore, down 14.1% from ₹0.64 crore in Q2 FY26 and Q1 FY27. Net profit was ₹0.47 crore, unchanged from Q2 FY26 and up 2.2% from ₹0.46 crore in Q1 FY27, while basic EPS was ₹0.76. The results were standalone; no consolidated figures were provided.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 19.07 | 44.83 | 42.58 | −55.2% | −57.5% |
| Other income | 1.69 | 1.53 | 1.26 | +34.1% | +10.5% |
| Total expenses | 20.21 | 45.71 | 43.19 | −53.2% | −55.8% |
| EBITDA | 2.83 | −0.06 | −0.10 | turned to profit | turned to profit |
| EBITDA margin | 14.8% | -0.1% | -0.2% | +15.0 pp | +14.9 pp |
| Profit before tax | 0.55 | 0.64 | 0.64 | −14.1% | −14.1% |
| Tax | 0.08 | 0.18 | 0.18 | −55.6% | −55.6% |
| Net profit | 0.47 | 0.46 | 0.47 | +0.0% | +2.2% |
| EPS (₹) | 0.76 | 0.76 | 0.77 | −1.3% | +0.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in VMS Industries' costs and profit?
Total expenses fell 53.2% year on year to ₹20.21 crore from ₹43.19 crore and declined 55.8% from ₹45.71 crore in Q1 FY27. Cost of materials consumed fell 67.8% to ₹3.53 crore from ₹10.95 crore, while finance costs rose 1054.5% to ₹3.81 crore from ₹0.33 crore.
Other income increased 34.1% year on year to ₹1.69 crore from ₹1.26 crore, and employee cost rose 22.2% to ₹0.88 crore from ₹0.72 crore. Tax expense fell 55.6% to ₹0.08 crore from ₹0.18 crore. There was no exceptional item, and the filing did not state reasons for the changes in costs or income.
Sequentially, total expenses were down ₹25.50 crore from Q1 FY27, led by a ₹4.59 crore reduction in cost of materials consumed. Finance costs increased ₹3.15 crore to ₹3.81 crore, while other income rose ₹0.16 crore to ₹1.69 crore. No exceptional item was reported in either quarter.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 3.53 | 10.95 | −7.42 | −67.8% |
| Employee cost | 0.88 | 0.72 | +0.16 | +22.2% |
| Finance costs | 3.81 | 0.33 | +3.48 | +1054.5% |
| Depreciation | 0.17 | 0.18 | −0.01 | −5.6% |
| Other expenses | 0.81 | 0.82 | −0.01 | −1.2% |
| Total expenses | 20.21 | 43.19 | −22.98 | −53.2% |
| Other income | 1.69 | 1.26 | +0.43 | +34.1% |
| Tax | 0.08 | 0.18 | −0.10 | −55.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue was ₹63.89 crore, down 22.3% from ₹82.22 crore in H1 FY26, and total income was ₹67.11 crore, down 21.1% from ₹85.02 crore. Profit before tax was ₹1.19 crore, down 4.8% from ₹1.25 crore.
Profit after tax for H1 FY27 was ₹0.93 crore, up 3.3% from ₹0.90 crore in H1 FY26, and basic EPS was ₹1.52 compared with ₹1.48. The Board approved the unaudited standalone quarter and half-year results on 4 November 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 63.89 | 82.22 | −22.3% |
| Profit before tax | 1.19 | 1.25 | −4.8% |
| Net profit | 0.93 | 0.90 | +3.3% |
| EPS (₹) | 1.52 | 1.48 | +2.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹319.03 crore, compared with ₹161.63 crore at 31 March 2026. Total equity was ₹97.87 crore against ₹97.16 crore, borrowings were ₹208.66 crore against ₹29.45 crore, and cash was ₹11.35 crore against ₹15.97 crore. Inventories rose to ₹168.4 crore from ₹14.69 crore.
H1 FY27 operating cash flow was negative ₹182.08 crore, compared with negative ₹5.91 crore in H1 FY26. Investing cash flow was ₹2.71 crore against ₹2.76 crore, financing cash flow was ₹174.75 crore against ₹8.42 crore, and capital expenditure was ₹0.51 crore against ₹0.03 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 319.03 | 161.63 |
| Total equity | 97.87 | 97.16 |
| Borrowings | 208.66 | 29.45 |
| Cash and equivalents | 11.35 | 15.97 |
| Inventories | 168.40 | 14.69 |
| Trade receivables | 37.11 | 63.84 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −182.08 | −5.91 |
| Cash from investing | 2.71 | 2.76 |
| Cash from financing | 174.75 | 8.42 |
| Capital expenditure | 0.51 | 0.03 |
Source: Company's results filing (XBRL).
How has VMS Industries done over the last 8 quarters?
Revenue over the reported quarters peaked at ₹52.1 crore in Q4 FY25 and reached its low of ₹19.07 crore in Q2 FY27. It had recovered to ₹50.3 crore in Q4 FY26 and ₹44.83 crore in Q1 FY27 before falling in the latest quarter.
Net profit peaked at ₹5.14 crore in Q4 FY25 and was lowest at ₹0.26 crore in Q3 FY26. The latest profit was ₹0.47 crore, above ₹0.46 crore in Q1 FY27, while the EBITDA margin moved to 14.8% from -0.1% in the previous quarter.
Quick answers
What was VMS Industries' revenue in Q2 FY27?
Revenue from operations was ₹19.07 crore, down 55.2% from ₹42.58 crore in Q2 FY26 (standalone).
Did VMS Industries make a profit in Q2 FY27?
Yes. Net profit was ₹0.47 crore, against a net profit of ₹0.47 crore in Q2 FY26.
What was VMS Industries' EPS in Q2 FY27?
Basic earnings per share were ₹0.76, against ₹0.77 in Q2 FY26.
When did VMS Industries announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting For Approval Of Second Qarter Ended On 30.09.2026 To Be Held On 04.11.2026 (BSE, 28 October 2026) · PDF
- Board Meeting Outcome for Out Come Of Board Of Director Meeting Held On 04.11.2026 For Approval Of 2Nd Qarter/ Half Year Ended On 30.09.2026 At 3:05 And Concluded At 3:43 (BSE, 4 November 2026) · PDF
- Out Come Of Board Of Director Meeting Held On 04.11.2026 For Approval Of 2Nd Qarter/ Half Year Ended On 30.09.2026 At 3:05 And Concluded At 3:43 (BSE, 4 November 2026) · PDF
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