VMS Industries Limited has submitted its quarterly compliance certificate to BSE Limited, fulfilling regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 31.03.2026.

Regulatory Compliance Certificate

The company filed the mandatory certificate under Regulation 74(5) of SEBI regulations on 13.04.2026. The certificate was issued by the company's registrar and share transfer agent, Cameo Corporate Services Limited, which holds SEBI registration as a Category I RTA.

Compliance Confirmations

The certificate confirms several key compliance aspects for the quarter:

• Securities received from depository participants for dematerialization were confirmed within prescribed timeframes
• Dematerialized securities have been listed on stock exchanges where earlier issued securities are traded
• Security certificates received for dematerialization were properly mutilated and cancelled after verification
• Depository names were substituted in the register of members as registered owners within stipulated time limits

Company Profile

VMS Industries Limited operates in green ship recycling with its primary facility located at Alang-Sosiya Ship Breaking Yard in Bhavnagar district. The company maintains multiple ISO certifications including ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, and ISO 45001:2018 for occupational health and safety.

Corporate Information

The company is headquartered at Pinnacle Business Park, Ahmedabad, Gujarat, and holds CIN L74140GJ1991PLC016714. The compliance certificate was digitally signed by Hemal Patel, Company Secretary (ACS: 24693), demonstrating adherence to digital filing requirements.

This quarterly filing represents routine regulatory compliance, ensuring transparency in the company's share transfer and dematerialization processes as mandated by SEBI regulations.

VMS Industries Limited has received a significant GST order from tax authorities, with implications for its financial position and operations.

GST Order Details

The company received Order-in-Original No. BHV-GST-000-JC-CK-352-2025-26-1417 dated 31-03-2026 from the Joint Commissioner, Central Goods & Services Tax, Bhavnagar. The order was received on 07-04-2026 at 08:01 pm and relates to Show Cause Notice No. CGST-BVR/AE/261/2025-26 dated 02.08.2025.

Financial Impact Assessment

The GST order presents substantial financial implications for VMS Industries Limited:

The total demand of ₹2294.40 lakhs represents approximately 7.95% of the company's turnover for FY 2024-25, indicating a material impact on the organization's financial position.

Company's Response Strategy

VMS Industries Limited has outlined its approach to addressing the GST order:

• The company is currently evaluating the Order-in-Original in detail
• Plans to file an appeal before the appropriate appellate authority within the prescribed timeline
• Management believes it has adequate provisions and grounds to contest the demand successfully
• The company maintains there is no material impact on its day-to-day operations

Regulatory Context

The GST order covers the period of F.Y 2024-25 and involves both demand and penalty components. The nature of the order indicates it was passed pursuant to adjudication of the show cause notice issued earlier by the tax authorities.

The company has disclosed this information in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders and the investing public.

Operational Continuity

Despite the significant financial demand, VMS Industries Limited has emphasized that the GST order does not materially impact its operational activities. The company continues its business operations while pursuing the legal remedies available under the GST framework.

The management's confidence in successfully contesting the demand suggests they believe the order may be based on interpretational differences or procedural issues that can be addressed through the appellate process.