VMS TMT Limited held its 13th Annual General Meeting on September 29, 2026, via video conferencing. The company adopted audited standalone financial statements for the fiscal year ended March 31, 2026.

The meeting commenced at 3:08 pm with 75 members participating through Video Conferencing and Other Audio-Visual Means. Chairman Varun Manojkumar Jain chaired the proceedings, noting that all directors were present virtually. The company facilitated remote e-voting through NSDL from September 26 to September 28, 2026, allowing shareholders to cast votes prior to the live session.

Resolutions passed

Shareholders approved ordinary business items, including the adoption of financial reports and the reappointment of Manojkumar Jain as a director retiring by rotation. Special business resolutions ratified the remuneration for cost auditors and appointed Vaishaliben Sanjaybhai Jain as an independent director.

Governance and compliance details

The meeting adhered to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013. Key professionals present included:

• Statutory Auditors: Suresh Chandra & Associates
• Internal Auditors: N.R. Kalal & Associates
• Cost Auditors: Anuj Aggarwal & Co.
• Secretarial Auditor: Umesh Ved

Umesh Ved served as the scrutinizer for the e-voting process. The company stated that voting results would be declared within 48 hours of the meeting's conclusion and submitted to stock exchanges.

What the numbers show

The disclosure confirms the completion of the annual governance cycle for FY26. With 75 members attending out of the total shareholder base (not disclosed), the quorum was met under standard regulatory provisions. The appointment of a new independent director signals a refresh in board composition, aligning with typical corporate governance cycles for listed entities.

VMS TMT Limited has reported a 36% increase in net profit after tax (PAT) to ₹2,103.36 lakh for FY26, compared to ₹1,541.75 lakh in the previous year. The company also submitted its annual report for the financial year ended March 31, 2026, and issued a notice for its 13th Annual General Meeting.

The TMT bar manufacturer posted revenue from operations of ₹83,855.74 lakh, a 9% rise from ₹77,019.10 lakh in FY25. This performance marks the company's first full financial year as a listed entity following its successful IPO in September 2025.

Financial Performance

Key financial metrics for FY26 highlight improved profitability despite higher operating expenses:

Total expenses rose to ₹81,302.50 lakh from ₹75,132.38 lakh, primarily due to increased other expenses and employee benefits. Finance costs also increased by 27% to ₹2,516.25 lakh.

What the Numbers Show

The improvement in net profit margin to 2.51% from 2.00% in the prior year demonstrates operational efficiency gains. While revenue grew nearly 9%, net profit expanded by over 36%, indicating that cost controls and higher volume sales outpaced the rise in input and financing costs. The debt-to-equity ratio significantly improved to 1.00 from 3.77, reflecting a stronger capital structure post-IPO.

Corporate Governance and Board Changes

The company disclosed changes in its board composition subsequent to the financial year-end. Mr. Vinod Bhanwer Singh resigned as an Independent Director effective April 28, 2026. Ms. Vaishaliben Sanjaybhai Jain was appointed as an Independent Director effective April 29, 2026, subject to shareholder approval at the AGM.

Additionally, Mr. Vijay Amrabhai Boliya resigned as Company Secretary and Compliance Officer on March 31, 2026. Ms. Shikha Ranjan was appointed to the role effective June 9, 2026.

AGM Details

The 13th Annual General Meeting will be held on September 29, 2026, at 3:00 pm via video conferencing. Key agenda items include:

• Adoption of audited financial results for FY26.
• Re-appointment of Mr. Manojkumar Jain as a Director retiring by rotation.
• Ratification of remuneration for Cost Auditors for FY27.
• Appointment of Ms. Vaishaliben Sanjaybhai Jain as an Independent Director.

Remote e-voting will commence on September 26, 2026, and conclude on September 28, 2026. The record date for voting eligibility is September 22, 2026.

Operational Highlights

VMS TMT strengthened its backward integration by manufacturing TMT bars from scrap, reducing dependency on billets. The company produced 141,611 metric tonnes in FY26, representing 71% capacity utilization against an installed capacity of 200,000 metric tonnes per annum. Over 98% of revenue was generated within Gujarat.

The company initiated the setup of a 15 MW captive solar power plant in Gujarat to reduce electricity expenses, with an estimated capital investment of ₹4,640 lakh. No dividend was recommended for FY26 as the board focused on conserving resources for growth initiatives.