VMS INDUSTRIES LTD. (VMS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of VMS INDUSTRIES LTD. stock ₹12.55, price ₹16.75, that is 25.1% below the price, quality 28 out of 100. Rating: overvalued. Calculated from audited financials with 11 of our 26 valuation models and 37 quality factors, updated daily.
VMS Industries Limited engages in ship recycling activities in India. The company was formerly known as Varun Management Services Pvt. Ltd and changed its name to VMS Industries Limited in 2010. VMS Industries Limited was incorporated in 1991 and is based in Ahmedabad, India.
Stock analysis
VMS INDUSTRIES LTD. (VMS) currently trades at ₹16.75, while our model-based Fair Value estimate is ₹12.55, 25% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ₹36.34 per share, and 4 of the 11 models we run sit above the ₹16.75 price.
Bear case: the Dividend Discount group reads lowest at ₹5.51, and 7 of the 11 models stay below the price. Data coverage for this calculation is low.
Scenario range: ₹9.41 (bear) to ₹15.69 (bull), the price of ₹16.75 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 28/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
VMS INDUSTRIES LTD. reported revenue of ₹1.6B in FY2026 versus ₹1.6B in FY2022, a compound 0.0%/yr. Reported net income was ₹14.6M in FY2026, compounding +8.0%/yr from FY2022.
Key figures
Market cap ₹410M (≈ $4.4M) Micro · P/E ratio 9.5 · P/S ratio 0.25 · EPS (TTM) ₹1.76 · Dividend yield 2.9% · Net margin 0.9% · Return on equity 1.5% · Return on assets (EBIT) 1.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 26 out of 100 (medium confidence).
What moves the price
The share trades about 47% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −25% fair-value upside, at −25%, VMS screens cheaper than that median.
Fair Value models
Bear₹9.41Fair Value ₹12.55Bull₹15.69
Price ₹16.75 · Downside -25.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹1.08 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.20/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−45.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.5%
Start year 2021 (pandemic). Over 10 years: +4.5% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.6%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+1.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.8%
Dividend (yield on the price)2.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−1.8% vs −0.3%, steady
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.0% → −1%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Waste Management · 155 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score28 · Bottom 25%
Fair Value upside−25.1% · Below median
Profitability
Return on equity (12 months)1.5% · Below median
Return on assets0.9% · Below median
Net margin (12 months)0.9% · Below median
Operating margin (12 months)−0.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)13.1% · Above median
Dividend yield (12 months)2.9% · Above median
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Waste Management median · lower = cheaper
P/E (12 months)9.5× · Cheapest 25%
P/B0.42× · Cheapest 25%
P/S (12 months)0.25× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 35
FUTURE (revenue growth)66· sector 37
PAST (return on equity)6· sector 23
HEALTH (low debt)99· sector 83
DIVIDEND (yield)59· sector 52
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is VMS INDUSTRIES LTD. (VMS) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of ₹12.55 versus a price of ₹16.75, about 25% lower (overvalued).
What is the fair value of VMS?
Our model-based fair value for VMS INDUSTRIES LTD. is ₹12.55 (as of Nov 5, 2026), built from audited fundamentals. The current price: ₹16.75.
What is the quality score of VMS?
VMS INDUSTRIES LTD. has a Quality Score of 28/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for VMS INDUSTRIES LTD. (VMS)?
Our model-based price target is the fair value of ₹12.55 (as of Nov 5, 2026) from 11 valuation models. Cautious scenario ₹9.41, optimistic scenario ₹15.69. It is a calculation from audited fundamentals, not an analyst target.
What is the VMS INDUSTRIES LTD. stock forecast for 2026?
Our models put fair value at ₹12.55, about 25% lower versus a price of ₹16.75 (overvalued). Cautious scenario ₹9.41, optimistic scenario ₹15.69. The calculation is refreshed regularly with new filings.
What is the revenue of VMS INDUSTRIES LTD. (VMS)?
VMS INDUSTRIES LTD. reported trailing-twelve-month revenue of about ₹1.6B (latest available figure, as of Nov 5, 2026).
Does VMS INDUSTRIES LTD. pay a dividend?
VMS INDUSTRIES LTD. currently shows a dividend yield of 2.94% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of VMS INDUSTRIES LTD. (VMS)?
VMS INDUSTRIES LTD. has a dividend yield of 2.9%.
What is the intrinsic value of VMS INDUSTRIES LTD. (VMS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For VMS INDUSTRIES LTD. it is ₹12.55 per share (as of Nov 5, 2026), against a price of ₹16.75. It is the blended result of 11 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is VMS INDUSTRIES LTD. stock overvalued or undervalued in 2026?
As of Nov 5, 2026, VMS trades above its calculated fair value: price ₹16.75, fair value ₹12.55, a gap of about −25% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of VMS?
No. The price is what the market pays today (₹16.75); the fair value is what the company's own numbers justify (₹12.55). For VMS INDUSTRIES LTD. the two are ₹4.20 per share apart. That gap is exactly why we show both numbers side by side.
How much is VMS INDUSTRIES LTD. worth?
The market values VMS INDUSTRIES LTD. at about ₹410M (market capitalisation, as of Nov 5, 2026). Per share that is ₹16.75; our models calculate a fair value of ₹12.55 per share.
What do the bullish and bearish scenarios say about VMS?
Our models span a range for VMS INDUSTRIES LTD.: cautious scenario ₹9.41, base ₹12.55, optimistic ₹15.69 per share (as of Nov 5, 2026, price ₹16.75). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VMS?
VMS INDUSTRIES LTD. trades at a price-to-earnings ratio of 9.5 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹12.55 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings: 13.5. Other multiples: P/B 0.4, P/S 0.3.
How solid is the balance sheet of VMS INDUSTRIES LTD. (VMS)?
Balance-sheet figures for VMS INDUSTRIES LTD. (as of Nov 5, 2026): return on equity 1.5%, debt of 0.02 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is VMS from its 52-week high?
VMS INDUSTRIES LTD. trades at ₹16.75, about 47% below its 52-week high of ₹31.88 and at the low of ₹16.75 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ₹12.55 is for.
Which stocks are comparable to VMS INDUSTRIES LTD.?
From the same area (Industrials) we also value Waste Management, Inc, Republic Services, Inc, Waste Connections, Inc, Veolia Environnement SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is VMS INDUSTRIES LTD. stock attractive at the current price?
The data as of Nov 5, 2026: price ₹16.75, calculated fair value ₹12.55 (−25%), Quality Score 28/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of VMS calculated?
We run VMS INDUSTRIES LTD. through 11 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹12.55 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. VMS INDUSTRIES LTD. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of VMS INDUSTRIES LTD. (VMS)?
The closing price on Nov 6, 2026 was ₹16.75. Our model-based fair value is ₹12.55, about 25% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with VMS INDUSTRIES LTD. right now?
The price sits above even our optimistic bull case (₹15.69). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of VMS INDUSTRIES LTD.
How large is the market capitalisation of VMS INDUSTRIES LTD. (VMS)?
The market capitalisation of VMS INDUSTRIES LTD. is ₹410M (≈ $4.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of VMS INDUSTRIES LTD. (VMS)?
The price-to-sales ratio of VMS INDUSTRIES LTD. is 0.25 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of VMS INDUSTRIES LTD. (VMS)?
Earnings per share at VMS INDUSTRIES LTD. are ₹1.76 (price ÷ EPS = P/E 9.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of VMS INDUSTRIES LTD. (VMS)?
The dividend yield of VMS INDUSTRIES LTD. is 2.9% (payout 27.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of VMS INDUSTRIES LTD. (VMS)?
The net margin of VMS INDUSTRIES LTD. is 0.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of VMS INDUSTRIES LTD. (VMS)?
The return on equity (ROE) of VMS INDUSTRIES LTD. is 1.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of VMS INDUSTRIES LTD. (VMS)?
On an EBIT basis the return on assets of VMS INDUSTRIES LTD. is 1.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of VMS INDUSTRIES LTD. (VMS)?
The operating margin of VMS INDUSTRIES LTD. is −0.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at VMS INDUSTRIES LTD. (VMS)?
Revenue at VMS INDUSTRIES LTD. is growing +13.1% versus a year earlier (3y avg +3.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at VMS INDUSTRIES LTD. (VMS)?
Earnings per share at VMS INDUSTRIES LTD. are growing −94.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does VMS INDUSTRIES LTD. (VMS) generate?
The free cash flow of VMS INDUSTRIES LTD. is −₹314M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does VMS INDUSTRIES LTD. (VMS) carry?
The net debt of VMS INDUSTRIES LTD. is ₹135M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 5, 2026