VMS TMT

About the Company

VMS TMT is engaged in manufacturing Thermo Mechanically Treated (TMT) Bars in the steel industry at their facility in Bhayla Village, Ahmedabad, Gujarat. The company operates predominantly in Gujarat state through a distribution network comprising 3 distributors and 227 dealers as of July 2025. VMS TMT serves diverse customers including retail and institutional clients within Gujarat (excluding Saurashtra and Kutch districts). The company has a retail license agreement with Kamdhenu Limited to market TMT Bars under the “Kamdhenu Brand” on non-exclusive terms. They also generate revenue from allied products including billets, binding wires, scrap, and other by-products. /n To check your allotment status – click here.

Strengths

• Annual production capacity of 200,000 MT with significant output in FY24.
• Over 98% of revenue is derived from operations in Gujarat, indicating market dominance in the region. 
• Partnership with Kamdhenu Limited allows marketing under the ‘Kamdhenu NXT’ brand.
• Plans to produce billets in-house to reduce dependency on external suppliers.

Risks

• Heavy reliance on the Gujarat market may expose the company to regional economic fluctuations.
• Dependence on third-party suppliers for raw materials could affect production continuity.
• TMT bar prices are subject to fluctuations, impacting profitability.
• Outstanding borrowings amounted to ₹252.5 crore as of August 2024. 
• Dependence on the Kamdhenu brand; termination of the licensing agreement could affect market presence.