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Swing Capital

VMS TMT Ltd

NSE: VMSTMT BSE: 544521

Incorporated in 2013, VMS TMT Limited is primarily engaged in the manufacturing of Thermo Mechanically Treated Bars.[1]

₹47
52W: ₹33.5 — ₹105
PE 15.8 · Book ₹46.8 · +0% vs book
Market Cap₹233 Cr
Stock P/E15.8Price to Earnings
ROCE14%Return on Capital
ROE24.6%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Stock is trading at 1.03 times its book value
  • +Company has delivered good profit growth of 91.0% CAGR over last 5 years
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 26.3%

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has low interest coverage ratio.

Shareholding Pattern

Promoters67.18%
FIIs2.04%
DIIs2.85%
Public27.94%
CategorySep 2025Dec 2025Mar 2026
Promoters67.18%67.18%67.18%
FIIs3.45%3.11%▼0.32.04%▼1.1
DIIs3.25%3.02%▼0.22.85%▼0.2
Public26.12%26.69%▲0.627.94%▲1.3

Financial Statements

MetricJun 2025Sep 2025Dec 2025
Sales212.26183.06202.13
Expenses192.77170.98184.98
Operating Profit19.4912.0817.15
OPM %9.18%6.6%8.48%
Net Profit8.582.138.04
EPS ₹2.480.431.62

AI Insights

Revenue Trend

Mar 2025 revenue at ₹770Cr, down 11.8% YoY. OPM at 6%.

Debt Position

Borrowings at ₹299Cr. Debt-to-equity ratio: 1.63x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹1Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Margin & Efficiency

ROCE improving from 0% (Mar 2020) to 14% (Mar 2025). Working capital days: 7.

Valuation

PE 15.8x with 14% ROCE. Price is 0% above book value of ₹46.8. Dividend yield: 0%.

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