VMS Industries Declares First Interim Dividend Amid Record Financial Growth

VMS Industries Limited, a leader in ship recycling and asset dismantling, declared a first interim dividend of Rs. 0.50 per equity share for FY 2024-25. The company achieved its highest-ever annual revenue and substantial profit growth in FY 2023-24, reflecting robust operational management and strategic initiatives.

VMS Industries Limited, a key player in ship recycling and asset dismantling, has declared a first interim dividend of Rs. 0.50 per equity share, representing 5% of the share's face value, for the financial year 2024-25. This decision, announced during a Board of Directors meeting on July 03, 2024, emphasizes the company's commitment to rewarding its shareholders. The dividend will be distributed by August 02, 2024, to shareholders on record as of July 11, 2024. Investors are advised to update their details with the Registrar and Transfer Agent to ensure timely receipt.

The announcement follows a record-breaking financial year for VMS Industries. In FY 2023-24, the company reported its highest-ever annual revenue of Rs. 26,637.28 lakhs, an 89.74% increase from the previous year. The full-year Profit After Tax (PAT) also saw a significant rise to Rs. 631.53 lakhs, a 152.86% growth. The impressive financial performance underscores the company's effective strategic initiatives and robust operational management.

Under the leadership of Managing Director Mr. Manojkumar Jain, VMS Industries has consistently showcased operational excellence. Mr. Jain attributes this success to efficient working capital management and a strategic focus on asset dismantling. Looking ahead, the company anticipates continued growth and value creation, leveraging opportunities in the expanding global ship recycling industry. India's share in this sector is expected to grow, presenting further prospects for VMS Industries.

(With inputs from agencies.)