Vascon Engineers Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • EPC: 96.6% • Real Estate Development: 3.4%
AI Sector View
AI GENERATEDConstruction
Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.
PROS
- Company has consistently been profitable over the last 5 years
- Company maintains a comfortable, low leverage position
CONS
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 75.2% versus prior year
- A large part of profit comes from other income (54.1% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of 9.2%
- Company has a low return on equity of 7.7% over last 3 years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LT | 3955.00 | 32.80 | 544155.04 | 0.96 | 4988.03 | 15.51 | 67941.74 | 6.69 | 15.98 | 12.00 |
| RVNL | 205.35 | 47.60 | 42815.89 | 0.35 | 159.52 | 18.73 | 4321.23 | 10.55 | 10.81 | 4.41 |
| KPIL | 1433.05 | 21.53 | 24472.56 | 0.77 | 311.53 | 45.85 | 6407.97 | 3.84 | 18.95 | 8.77 |
| IRB | 19.92 | 25.22 | 24059.38 | 1.31 | 3062.70 | 1412.58 | 21372.72 | 918.25 | 7.72 | 53.93 |
| CEMPRO | 1251.60 | 35.74 | 21500.93 | 0.24 | 140.83 | 2.64 | 2720.92 | 7.02 | 33.53 | 10.09 |
| ENGINERSIN | 271.95 | 19.49 | 15284.74 | 1.84 | 157.94 | 141.49 | 819.84 | -5.80 | 30.94 | 20.61 |
| TECHNOE | 979.75 | 26.43 | 11394.45 | 0.71 | 93.33 | -31.44 | 630.34 | 19.84 | 14.86 | 15.79 |
| WELENT | 798.40 | 36.16 | 11050.96 | 0.38 | 56.36 | -44.29 | 773.72 | -8.44 | 16.44 | 19.49 |
| KEC | 413.35 | 19.88 | 11003.38 | 1.33 | 72.62 | -41.72 | 5023.54 | 0.01 | 16.35 | 5.79 |
| IRCON | 115.30 | 20.71 | 10844.15 | 1.65 | 92.03 | -43.92 | 1955.83 | 9.49 | 10.15 | 9.81 |
| AFCONS | 260.90 | 66.31 | 9595.50 | 0.77 | 303.00 | 120.52 | 26710.00 | 692.49 | 12.88 | 9.42 |
| VASCONEQ | 30.23 | 24.63 | 700.42 | 0.00 | 2.01 | -91.05 | 151.94 | -31.30 | 6.04 | 3.26 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 204 | 159 | 207 | 234 | 196 | 200 | 295 | 387 | 221 | 226 | 249 | 253 | 152 | |
| 190 | 152 | 186 | 213 | 180 | 185 | 275 | 350 | 208 | 210 | 236 | 242 | 154 | |
| Operating Profit | 15 | 7 | 21 | 20 | 16 | 14 | 20 | 38 | 13 | 16 | 13 | 11 | -2 |
| OPM % | 7.11% | 4.57% | 9.98% | 8.58% | 8.13% | 7.19% | 6.80% | 9.69% | 5.89% | 7.05% | 5.25% | 4.22% | -1.59% |
| 4 | 1 | 2 | 6 | 2 | 2 | 78 | 5 | 21 | 4 | 4 | 6 | 5 | |
| Interest | 3 | 3 | 4 | 3 | 4 | 5 | 5 | 5 | 5 | 3 | 6 | 2 | 6 |
| Depreciation | 3 | 2 | 1 | 2 | 1 | 1 | 2 | 2 | 2 | 1 | 2 | 1 | 1 |
| Profit before Tax | 12 | 4 | 17 | 21 | 12 | 10 | 92 | 36 | 27 | 16 | 10 | 13 | 2 |
| Tax % | 3.28% | 0.00% | 0.00% | 30.63% | 23.66% | 20.00% | 17.19% | 5.82% | 16.76% | 25.35% | 8.01% | 53.87% | 18.62% |
| Net Profit | 0 | 0 | 0 | 0 | 10 | 10 | 76 | 35 | 22 | 11 | 9 | 6 | 2 |
| 0.54 | 0.90 | 0.74 | 0.66 | 0.41 | 0.35 | 3.38 | 1.49 | 0.99 | 0.50 | 0.41 | 0.25 | 0.09 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 490 | 539 | 524 | 521 | 507 | 657 | 1,019 | 764 | 1,077 | 949 | 880 | |
| 496 | 531 | 516 | 468 | 520 | 634 | 903 | 687 | 993 | 895 | 843 | |
| Operating Profit | -6 | 8 | 8 | 53 | -13 | 23 | 116 | 76 | 85 | 54 | 37 |
| OPM % | -1.15% | 1.44% | 1.51% | 10.16% | -2.52% | 3.46% | 11.38% | 9.98% | 7.86% | 5.64% | 4.23% |
| 58 | 38 | 37 | 22 | 12 | 53 | 13 | 12 | 90 | 35 | 19 | |
| Interest | 34 | 26 | 27 | 20 | 27 | 25 | 13 | 14 | 20 | 18 | 17 |
| Depreciation | 16 | 14 | 13 | 15 | 12 | 11 | 12 | 6 | 6 | 6 | 6 |
| Profit before Tax | 3 | 5 | 4 | 40 | -40 | 40 | 103 | 68 | 149 | 65 | 41 |
| Tax % | 55.24% | 7.06% | -23.99% | 0.21% | -1.04% | 11.01% | 3.75% | 9.50% | 15.24% | 24.87% | 29.42% |
| Net Profit | 1 | 5 | 5 | 40 | -40 | 36 | 99 | 61 | 126 | 49 | 29 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -2.27 | 1.76 | 4.49 | 3.03 | 5.74 | 2.11 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 8.26% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 13%
- 3 Years:
- -2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 19%
- 5 Years:
- —
- 3 Years:
- -21%
STOCK PRICE CAGR
- 10 Years:
- -2%
- 5 Years:
- 3%
- 3 Years:
- -17%
- 1 Year:
- -46%
RETURN ON EQUITY
- 10 Years:
- 4%
- 5 Years:
- 8%
- 3 Years:
- 8%
- Last Year:
- 4%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 168 | 174 | 178 | 178 | 182 | 217 | 217 | 221 | 226 | 232 |
| Minority Interest | 12 | 11 | 9 | 9 | 10 | 13 | 13 | 0 | 0 | 0 |
| 464 | 486 | 501 | 541 | 505 | 585 | 684 | 753 | 862 | 914 | |
| 306 | 227 | 252 | 218 | 149 | 133 | 132 | 115 | 135 | 241 | |
| Trade Payables | 196 | 193 | 202 | 202 | 241 | 279 | 362 | 364 | 481 | 640 |
| 170 | 224 | 181 | 200 | 222 | 256 | 235 | 408 | 422 | 327 | |
| Total Liabilities | 1,315 | 1,315 | 1,323 | 1,349 | 1,310 | 1,483 | 1,643 | 1,862 | 2,126 | 2,354 |
| 109 | 99 | 95 | 90 | 83 | 79 | 102 | 49 | 50 | 42 | |
| 105 | 106 | 102 | 116 | 81 | 76 | 83 | 83 | 85 | 99 | |
| 451 | 472 | 500 | 481 | 459 | 514 | 473 | 512 | 591 | 736 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 179 | 212 | 238 | |
| Cash & Bank | 66 | 56 | 72 | 69 | 80 | 98 | 108 | 67 | 228 | 203 |
| 583 | 583 | 554 | 594 | 607 | 715 | 877 | 971 | 960 | 1,035 | |
| Total Assets | 1,315 | 1,315 | 1,323 | 1,349 | 1,310 | 1,483 | 1,643 | 1,862 | 2,126 | 2,354 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 17 | 10 | 38 | 35 | 61 | 36 | 114 | -22 | 5 | -122 | |
| Cash from Investing | -23 | 6 | -2 | -27 | 6 | -13 | -32 | -12 | 68 | -17 |
| Cash from Financing | -16 | -24 | -26 | -34 | -72 | -22 | -44 | 5 | 27 | 74 |
| -12 | -8 | 28 | -24 | 4 | -2 | 28 | -29 | 100 | -66 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-24 - Vascon Engineers Limited has informed the Exchange about Credit Rating
2026-08-19 - Vascon Engineers Limited has informed the Exchange about Transcript
2026-08-14 - Vascon Engineers Limited has informed the Exchange about Link of Recording
2026-08-13 - Vascon Engineers Limited has informed the Exchange about Copy of Newspaper Publication of Unaudited Financial Results for the quarter ended June 30, 2026
2026-08-12 - Vascon Engineers Limited has informed the Exchange about Awarding of order(s)/contract(s)
2026-08-12 - Vascon Engineers Limited has informed the Exchange about Investor Presentation
2026-08-12 - Vascon Engineers Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-10 - Vascon Engineers Limited has informed the Exchange about Schedule of meet
2026-08-10 - Vascon Engineers Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 07, 2026. Further, the company has informed the Exchange regarding voting results.
News
Recent coverage and analyst commentary for VASCONEQ
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