VMS Industries Reports Q1 Profit, Restructures Business into Single Segment

VMS Industries Limited has announced its financial results for the first quarter ended June 30, 2025, alongside significant changes in its business structure and internal audit team.

Financial Performance

The company reported a total income of Rs 4,118.21 lakh for Q1, with a net profit of Rs 43.47 lakh. The earnings per share (EPS) for the quarter stood at Rs 0.71.

Business Restructuring

VMS Industries has made a significant change in its business structure. Effective from June 30, 2025, the company has reclassified its operations into a single reportable segment: Manufacturing Iron and Steel Scrap and Trading of Iron and Steel Scrap. This decision was driven by changes in the internal management reporting structure and the integration of business operations.

The company's Chief Operating Decision Maker (CODM) now reviews the performance of the business as a whole, without differentiating between previously reported segments. This change aligns with the requirements of Ind AS 108 - Operating Segments, as the CODM now monitors overall company results for decision-making purposes.

New Internal Auditor

In another key development, the Board of Directors has appointed N R Kalal & Associates as the new internal auditor for the financial year 2025-26. This appointment replaces the previous internal auditor, SNDK and Associates LLP, who resigned due to other commitments.

N R Kalal & Associates is a chartered accountancy firm with a team of qualified professionals. The firm, registered with the Institute of Chartered Accountants of India (Firm Registration No. 149215W), brings over seven years of professional experience in areas such as audit, assurance, taxation, risk advisory, and internal control systems.

Management Commentary

Manojkumar Jain, Managing Director of VMS Industries Limited, signed off on these changes, indicating the company's commitment to streamlining operations and enhancing corporate governance practices.

The company has assured stakeholders that the change in segment reporting does not impact the overall financial position or performance of VMS Industries Limited.

These developments mark a significant shift in VMS Industries' operational structure and are expected to provide a more consolidated view of the company's performance going forward.