What we do VMS TMT Limited manufactures high-strength Thermo Mechanically Treated bars used primarily in construction, marketed under the Kamdhenu brand in Gujarat. |
Founded in 2,013 |
Market share Strong presence in Gujarat with exclusive marketing rights under Kamdhenu brand, supported by 3 distributors and 227 dealers. |
Problem solved Provides durable, corrosion-resistant steel reinforcement solutions critical for safe, earthquake-resistant construction. |
Top clients or who we serve Retail and institutional customers in Gujarat via distributors and dealers; operates in B2B and B2C segments. |
Key management Varun Manojkumar Jain (Chairman & MD, ISB alumnus), Rishabh Sunil Singhi (Whole-Time Director, Civil Engineer), Manojkumar Jain (Non-Executive Director, Chartered Accountant). |
Our journey and innovations Incorporated in 2013; set up manufacturing in 2021; launched Continuous Casting Machine plant in 2024; backward integration with in-house billet production completed in 2024; IPO in 2025. |
Where we operate Operations concentrated in Gujarat, India, with focus on statewide sales excluding Saurashtra and Kutch districts. |
Top products or what we offer Kamdhenu NXT TMT Bars in grades Fe415D, Fe500D, Fe550, and Fe600 with sizes 8mm to 32mm. |
Top brands Kamdhenu NXT - high-strength TMT bars; #1 in Gujarat retail segment under Kamdhenu license. |
Raw materials needed Iron billets and scrap steel are primary raw materials, along with dolomite and manganese for billet production. |
Raw materials supplier Raw materials sourced locally in Gujarat and through imports from Hong Kong and UAE. |
Recurring vs cyclical contribution Revenue primarily cyclical aligned with construction industry cycles but boosted by infrastructure growth. |
Our industry position Maintains >80% capacity utilization; poised for growth with backward integration enhancing raw material security. |
Financial highlights FY25 revenue ₹770.19 crore, net profit ₹14.74 crore; consistent EBITDA and PAT growth over recent years. |
Geographical revenue split Majority revenue from domestic sales in Gujarat; FY25 domestic ₹760.25 crore, exports ₹2.12 crore. |
Order book - |
Whats driving growth Infrastructure expansion in Gujarat, brand strength via Kamdhenu, backward integration, and renewable energy initiatives. |
Our future plans Expand solar captive power to 40 MW, continue backward integration, and diversify product portfolio cautiously. |
Our green promise Setting up 15 MW solar plant to reduce power costs and carbon footprint, aligning with sustainability goals. |
Our people and values 230 employees with emphasis on safety, quality, and environment; inclusive leadership with technical expertise. |
Key challenges ahead Managing energy costs, raw material price fluctuations, and market competition in Gujarat construction steel segment. |
Interesting facts Achieved backward integration by manufacturing billets from scrap; IPO raised ₹148.5 crore in 2025. |
Risks and strategy Mitigates raw material dependency via in-house billets; invests in renewable energy to lower power costs; focuses on market diversification. |
