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VMS TMT Q2 FY27 results: net profit down 17.4% to ₹1.76 crore, revenue down 8.4%
VMS TMT Limited reported standalone Q2 FY27 revenue of ₹167.65 crore, down 8.4% from Q2 FY26 and 32.3% from Q1 FY27. Net profit was ₹1.76 crore and basic EPS was ₹0.35, while EBITDA was ₹10.10 crore at a 6.0% margin.
Key points
- Revenue was ₹167.65 crore in Q2 FY27, down ₹15.41 crore from ₹183.06 crore in Q2 FY26.
- EBITDA was ₹10.10 crore, down ₹1.99 crore from ₹12.09 crore, while the margin was 6.0% versus 6.6%.
- Net profit was ₹1.76 crore, down ₹0.37 crore from ₹2.13 crore, and basic EPS was ₹0.35 versus ₹0.59.
- In H1 FY27, revenue rose 5.1% to ₹415.41 crore, while net profit fell 41.8% to ₹6.23 crore.
- Total assets were ₹533.18 crore and total equity was ₹233.98 crore as of 30 September 2026.
How did VMS TMT perform in Q2 FY27?
VMS TMT reported standalone revenue of ₹167.65 crore in Q2 FY27, down ₹15.41 crore, or 8.4%, from ₹183.06 crore in Q2 FY26. Against Q1 FY27, revenue fell ₹80.11 crore, or 32.3%, from ₹247.76 crore. The quarter ended on 30 September 2026 and was reported on a standalone basis.
EBITDA was ₹10.10 crore in Q2 FY27, down ₹1.99 crore from ₹12.09 crore in the year-ago quarter and ₹1.97 crore from ₹12.07 crore in the previous quarter. The EBITDA margin was 6.0%, compared with 6.6% a year earlier and 4.9% in Q1 FY27. Profit before tax was ₹2.68 crore, down from ₹2.83 crore a year earlier and ₹5.68 crore in the previous quarter.
VMS TMT recorded a net profit of ₹1.76 crore in Q2 FY27, compared with ₹2.13 crore in Q2 FY26 and ₹4.47 crore in Q1 FY27. Basic EPS was ₹0.35, down from ₹0.59 a year earlier and ₹0.90 in the previous quarter. The results were approved by the board on 5 November 2026 and carried an unmodified limited review report.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 167.65 | 247.76 | 183.06 | −8.4% | −32.3% |
| Other income | 0.15 | 0.12 | 0.14 | +7.1% | +25.0% |
| Total expenses | 165.12 | 242.20 | 180.37 | −8.5% | −31.8% |
| EBITDA | 10.10 | 12.07 | 12.09 | −16.5% | −16.3% |
| EBITDA margin | 6.0% | 4.9% | 6.6% | −0.6 pp | +1.1 pp |
| Profit before tax | 2.68 | 5.68 | 2.83 | −5.3% | −52.8% |
| Tax | 0.92 | 1.21 | 0.70 | +31.4% | −24.0% |
| Net profit | 1.76 | 4.47 | 2.13 | −17.4% | −60.6% |
| EPS (₹) | 0.35 | 0.90 | 0.59 | −40.7% | −61.1% |
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 TMT's costs and profit?
Cost of materials was ₹132.99 crore in Q2 FY27, up ₹39.20 crore, or 41.8%, from ₹93.79 crore in Q2 FY26. Employee cost rose ₹1.46 crore, or 40.3%, to ₹5.08 crore, while depreciation rose ₹0.42 crore, or 16.8%, to ₹2.92 crore. Other expenses increased ₹19.91 crore, or 87.7%, to ₹42.62 crore.
Finance costs fell ₹2.25 crore, or 32.6%, to ₹4.65 crore, while other income increased ₹0.01 crore to ₹0.15 crore. Total expenses declined ₹15.25 crore to ₹165.12 crore because lower revenue reduced costs overall, although the filing did not provide reasons for the increase in materials and other expenses. There was no exceptional item in either quarter.
Tax expense was ₹0.92 crore in Q2 FY27, up ₹0.22 crore, or 31.4%, from ₹0.70 crore in Q2 FY26. Profit before tax fell ₹0.15 crore, or 5.3%, to ₹2.68 crore, while net profit fell ₹0.37 crore, or 17.4%, to ₹1.76 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 132.99 | 93.79 | +39.20 | +41.8% |
| Employee cost | 5.08 | 3.62 | +1.46 | +40.3% |
| Finance costs | 4.65 | 6.90 | −2.25 | −32.6% |
| Depreciation | 2.92 | 2.50 | +0.42 | +16.8% |
| Other expenses | 42.62 | 22.71 | +19.91 | +87.7% |
| Total expenses | 165.12 | 180.37 | −15.25 | −8.5% |
| Other income | 0.15 | 0.14 | +0.01 | +7.1% |
| Tax | 0.92 | 0.70 | +0.22 | +31.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, VMS TMT reported standalone revenue of ₹415.41 crore, up ₹20.09 crore, or 5.1%, from ₹395.32 crore in H1 FY26. Total income rose ₹19.34 crore, or 4.9%, to ₹415.68 crore. Profit before tax fell ₹5.95 crore, or 41.6%, to ₹8.36 crore, while net profit declined ₹4.47 crore, or 41.8%, to ₹6.23 crore.
Basic EPS for the first half was ₹1.25, down ₹1.78, or 58.7%, from ₹3.03 in H1 FY26. The results were prepared under Ind AS 34 and reviewed by the statutory auditors, whose report was not modified. No consolidated figures were provided for the quarter.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 415.41 | 395.32 | +5.1% |
| Profit before tax | 8.36 | 14.31 | −41.6% |
| Net profit | 6.23 | 10.70 | −41.8% |
| EPS (₹) | 1.25 | 3.03 | −58.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹533.18 crore, compared with ₹519.41 crore at 31 March 2026. Total equity was ₹233.98 crore against ₹228.13 crore, while borrowings fell to ₹203.89 crore from ₹228.69 crore. Cash and cash equivalents were ₹1.06 crore compared with ₹1.05 crore.
Inventories increased to ₹240.87 crore from ₹228.35 crore, while trade receivables fell to ₹14.77 crore from ₹34.49 crore. Trade payables rose to ₹51.0 crore from ₹23.42 crore. The statement of assets and liabilities presented the 30 September 2026 figures as unaudited and the 31 March 2026 figures as audited.
Operating cash flow for H1 FY27 was ₹39.99 crore, compared with negative ₹23.23 crore in H1 FY26. Investing cash flow was negative ₹8.62 crore against negative ₹6.92 crore, and financing cash flow was ₹31.35 crore against ₹154.35 crore. There was no capital expenditure in H1 FY27, compared with ₹10.66 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 533.18 | 519.41 |
| Total equity | 233.98 | 228.13 |
| Borrowings | 203.89 | 228.69 |
| Cash and equivalents | 1.06 | 1.05 |
| Inventories | 240.87 | 228.35 |
| Trade receivables | 14.77 | 34.49 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 39.99 | −23.23 |
| Cash from investing | −8.62 | −6.92 |
| Cash from financing | 31.35 | 154.35 |
| Capital expenditure | 0 | 10.66 |
Source: Company's results filing (XBRL).
How has VMS TMT done over the last 5 quarters?
Revenue rose from ₹183.06 crore in Q2 FY26 to ₹247.76 crore in Q1 FY27, then fell to ₹167.65 crore in Q2 FY27. Q1 FY27 was the revenue peak in the reported period, while Q2 FY27 was the lowest. The latest quarter therefore shows a sharp sequential decline from the preceding two quarters.
Net profit moved from ₹2.13 crore in Q2 FY26 to ₹4.47 crore in Q1 FY27 before falling to ₹1.76 crore in Q2 FY27. The EBITDA margin reached 8.5% in Q3 FY26, fell to 4.9% in Q4 FY26 and Q1 FY27, and then rose to 6.0% in Q2 FY27. Profit and margin both moved lower sequentially in the latest quarter, even as the margin recovered from the prior quarter.
Quick answers
What was VMS TMT's revenue in Q2 FY27?
Revenue from operations was ₹167.65 crore, down 8.4% from ₹183.06 crore in Q2 FY26 (standalone).
Did VMS TMT make a profit in Q2 FY27?
Yes. Net profit was ₹1.76 crore, against a net profit of ₹2.13 crore in Q2 FY26.
What was VMS TMT's EPS in Q2 FY27?
Basic earnings per share were ₹0.35, against ₹0.59 in Q2 FY26.
When did VMS TMT announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering And Approving The Standalone Unaudited Financial Result For Quarter And Half Year Ended On 30.09.2026 (BSE, 2 November 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 5Th November, 2026 (BSE, 5 November 2026) · PDF
- Financial Result Along With Limited Review Report As On 30/09/2026 (BSE, 5 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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