VMS Industries Ltd share Price

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. VMS Industries Ltd was incorporated on December 2, 1991 as a private limited company with the name Varun Management Services Pvt Ltd. The company was established with the object of carrying on the business of providing different kinds of consulting and information technology services. During the 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 May 22, 2007, the company changed their name from Varun Management Services Pvt Ltd VMS Industries Pvt Ltd to reflect the activities to be undertaken by the company. 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. In January 29, 2010, the company was converted into a public limited company and the name was changed to VMS Industries Ltd. They received ISO 9001:2008 Certification, ISO 14001:2004 Certification & OHSAS 18001:2007 Certification from URS Certification Ltd. The company is planning to expand their ship recycling activity and off-shore supporting services. Also, they are in the process of modernization of their Ship Recycling Plot.