VMS Industries Ltd

VMS Industries Limited was originally incorporated on December 2, 1991 as a Private Limited Company in the name and style of 'Varun Management Services Private Limited' by its Promoters. The Company acquired a Ship Breaking Plot in the year 2007 and to reflect the business of the Company the name was changed to 'VMS Industries Private Limited' on May 22, 2007. The Constitution of the Company was changed to Public limited Company with effect from January 29, 2010 and consequently the name was changed to 'VMS Industries Limited'. VMS Industries Ltd is an ISO 9001:2008, ISO14001:2004, ISO 30000-2009 & OHSAS18001:2007 certified company for the Ship Recycling and Offshore Business. The company business mainly consists of two business segments, namely Ship Recycling Activities and Offshore business activities & supporting services. They are carrying their ship-recycling activities at Sosiya Ship Breaking Yard, Gujarat. The company was established with the object of carrying on the business of providing different kinds of consulting and information technology services. During year 1992-1994, the company was engaged in computerization of land revenue records of Bhavnagar Municipal Corporation. Thereafter, during the year 1995-96, they undertook the assignment of computerization of Ration Cards and Ration Shops of Bhavnagar Municipal Corporation. In the year 1994, the company acquired a running Oxygen Plant operating in the name of 'Varun Gases' in Sihor GIDC, Bhavnagar having an installed capacity of 65 cubic meters per hour. The said plant was closed by the company in the year 1997 as it became unviable on account of slow down in the Ship Recycling Industry and advancement of technology in this area. During the year 2003-04, the Ship Breaking Industry was revived and therefore the company decided to diversify their activities. In the year 2008, the company acquired a plot in Alang- Sosiya through Auction from GMB. In May 2008, they entered into the offshore business activities & supporting services. Also, they entered into a Charter Agreement with GMB for Tug named ADINATH - 8. In the year 2009, they entered into a Charter Agreement with GMB for Speed Boat named KALPTARU. During the financial year 2009-10, the company started the ship recycling activity and purchased total 10 ships for their ship recycling activities. The Company entered the Capital Market with an Initial Public Offer (IPO) of 64,38,227 Equity shares of Rs 10 each at a premium of Rs 30 per share in May 2011 and accordingly, the Company's shares were listed on the Bombay Stock Exchange Limited (BSE) on 14th June, 2011. The Company initiated Ship Recycling operations at Alang-Sosiya Ship Breaking Yard in 2009 and its Ship Breaking Unit at Alang Ship Breaking Yard, Bhavnagar became operational in 2011. Ship recycling activity, also known as shipbreaking or ship dismantling, involves the dismantling and disposal of old, decommissioned ships in a safe and environmentally responsible manner. Typically conducted in specialized facilities located in regions such as South Asia, ship recycling encompasses various processes including the removal of hazardous materials like asbestos and heavy metals, as well as the recycling of steel and other valuable materials. The trading of various metal encompasses a dynamic market where recyclable metal materials are bought, sold, and repurposed worldwide. From industrial metal generated during manufacturing processes to end-of-life consumer goods like appliances and vehicles, the spectrum of available metal is diverse. Trading in this sector involves intricate logistics, market analysis, and technological innovation to efficiently collect, process, and distribute metal materials to steel mills and foundries for recycling. Moreover, it fosters economic opportunities, supports local industries, and contributes to reducing carbon emissions, making it a crucial component of the global materials economy. Assets Dismantling / demolition involves the systematic deconstruction and removal of industrial facilities, ranging from manufacturing plants to warehouses, often requiring specialized expertise and equipment.