Vam Holdings Limited (Vam Holdings) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Vam Holdings Limited

Vam Holdings Limited Standalone Balance Sheet (Rs. in Lakhs)

Particulars	31-03-2025	31-03-2024
Shareholder 's Funds
Share Capital	36.47	36.47
Reserves and Surplus	8,707.44	8,315.55
Minority Interest	33.10	31.48
Current Liabilities
Trade Payables
Others than Micro and small enterprises	3.99	75.87
Other current liabilities	1.17	4.45
Total Equity and Liabilities	8,782.17	8,463.82
Non-Current Assets
Non-Current Investments	7,082.01	7,082.01
Long term loans & advances	7.86	7.15
Current Assets
Trade Receivables	1.32	108.38
Cash & Bank balances	1,638.94	1,231.67
Short term loans and advances	0.83	0.77
Other Current assets	51.21	33.84
Total Assets	8,782.17	8,463.82

Vam Holdings Limited Standalone Profit & Loss Statement (Rs. in Lakhs)

Particulars	31-03-2025	31-03-2024
Revenue from Operations	403.90	421.08
Other Income	604.81	576.33
Total Revenue	1,008.71	997.41
Expenses
Purchase of stock in trade	401.52	415.38
Other Expenses	11.76	9.11
Total Expenses	413.28	424.49
Profit before prior period items & tax	595.43	572.92
Prior period items (net)	0.02	-
Profit Before Tax	595.41	572.92
Current tax	201.90	195.61
Profit for the year before Minority Interest	393.51	377.31
Less: Share of Minority Interest	1.62	1.62
Profit for the Year	391.89	375.69
Earnings per share
Basic	107.46	103.01
Diluted	107.46	103.01

Vam Holdings Limited Standalone Cash Flow Statement (Rs. in Lakhs)

Particulars	31-03-2025	31-03-2024
Cash Flow from Operations
Net Profit before tax	595.41	572.92
Adjustment for:
Provision no longer required wriiten back	-	-0.16
Sundry balance written back	-0.16	-
Interest Income	102.96	74.48
Dividend received	-510.69	-501.69
Operating Profit before WC changes	196.52	145.55
Adjustment for:
Increase/Decrease in loans & advances and other assets	74.31	-133.24
Increase/Derease in liabilities & provisions	-75.00	79.13
Cash generated from operations	195.83	91.44
Direct taxes paid (net)	187.29	181.05
Net Cash (used in) Operating Activities	8.54	-89.61
Cash Flow from Investing Activities
Dividend received	501.69	501.69
Interest Income	-102.96	-74.48
Movement in fixed deposits (net)	-406.75	-280.49
Net Cash (used in) from Investing Activities	-8.02	146.72
Net Increase/(Decrease) in Cash & Cash Equivalents	0.52	57.11
Add: Opening Cash and cash equivalents	64.10	6.99
Closing Cash and cash equivalents	64.62	64.10

Summary of the Cash Flow Statement for the years 2025 and 2024:

Cash Flow from Operating Activities
The company’s cash flow from operations shows an improvement in 2025 compared to 2024. Net profit before tax increased slightly from ₹572.92 lakhs in 2024 to ₹595.41 lakhs in 2025. However, significant non-cash adjustments such as dividend income and interest income reduced the operating profit before working capital changes. After adjusting for changes in loans, advances, and liabilities, cash generated from operations stood at ₹195.83 lakhs in 2025 compared to ₹91.44 lakhs in 2024. Despite this improvement, high tax payments of ₹187.29 lakhs resulted in net cash from operating activities being only ₹8.54 lakhs in 2025, though this is still better than the negative ₹89.61 lakhs in 2024.

Cash Flow from Investing Activities
In investing activities, dividend income and interest income played a significant role. In 2025, dividend income was recorded at ₹501.69 lakhs, similar to the previous year, while interest income stood at ₹102.96 lakhs. The major outflow came from movement in fixed deposits, with a net outflow of ₹406.75 lakhs in 2025 compared to ₹280.49 lakhs in 2024. This led to a small net outflow of ₹8.02 lakhs from investing activities in 2025, whereas in 2024, investing activities had generated positive cash inflows of ₹146.72 lakhs.

Net Change in Cash and Closing Position
Overall, the company ended the year with a marginal increase in cash. Net cash increased by only ₹0.52 lakhs in 2025 compared to a much higher increase of ₹57.11 lakhs in 2024. The opening cash balance of ₹64.10 lakhs in 2025 rose to ₹64.62 lakhs by year-end. This indicates that although operational performance improved, heavy reliance on dividend income and fixed deposit movements continues to influence the cash flow position, keeping actual cash generation limited.

Financial Ratios of Vam Holdings Limited

Particulars	31-03-2025	31-03-2024
Current Ratio (times)	341.62	17.05
Return on Equity Ratio (%)	4.58	4.60
Net Profit Ratio (%)	97.03	89.22
Return on Capital Employed (%)	4.78	4.74

Summary of the financial ratios for Vam Holdings Limited for the year 2025 and 2024:

Current Ratio
The current ratio has increased drastically from 17.05 in 2024 to 341.62 in 2025. While a higher ratio generally indicates strong liquidity, such an abnormally high figure suggests that either current assets are excessively high or current liabilities are very low. This signals possible inefficiency in working capital management, as funds may be lying idle rather than being utilized productively.

Return on Equity Ratio
The return on equity ratio has remained almost unchanged, moving slightly from 4.60 percent in 2024 to 4.58 percent in 2025. This shows that shareholders are earning very low returns compared to their investment, and despite an improvement in profitability, the equity base may have increased, keeping the return stagnant.

Net Profit Ratio
The net profit ratio has improved significantly from 89.22 percent in 2024 to 97.03 percent in 2025. Such an unusually high margin indicates that the company has extremely low expenses compared to revenue or has earned extraordinary income. While this reflects strong profitability, it is not typical for most industries and requires a closer look at the income composition.

Return on Capital Employed
The return on capital employed has shown a marginal increase from 4.74 percent in 2024 to 4.78 percent in 2025. This indicates that the company’s efficiency in generating returns from its capital employed has remained almost the same. Although profitability ratios look very strong, the low ROCE suggests that capital is not being used as effectively as it could be.