Vascon Engineers Ltd.

•

vascon.comBSE: 533156NSE: VASCONEQ

Market Cap₹ 692 Cr.

Current Price

High / Low₹ 75 / 27

Stock P/E24.3

Book Value₹ 50

Price to Book0.55

Dividend Yield0.00 %

ROCE6.0 %

ROE4.4 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • EPC: 96.6% • Real Estate Development: 3.4%

AI Sector View

AI GENERATED

Construction

Buy

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.

Confidence

80%

View full sector analysis →

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

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3915.00	32.47	538651.57	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.00	47.52	42742.91	0.35	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1435.05	21.56	24506.71	0.77	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.64	24.86	23721.19	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1244.10	35.53	21372.09	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	269.20	19.30	15130.18	1.86	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	972.50	26.24	11310.13	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.75	35.45	10834.34	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	KEC	406.45	19.54	10819.70	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	IRCON	113.20	20.33	10646.64	1.68	92.03	-43.92	1955.83	9.49	10.15	9.81
11.	AFCONS	253.95	64.55	9339.89	0.79	303.00	120.52	26710.00	692.49	12.88	9.42
12.	VASCONEQ	29.88	24.34	692.31	0.00	2.01	-91.05	151.94	-31.30	6.04	3.26

Detailed Comparison with:

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

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	31.27	31.27	30.93	31.11	31.11	31.11	30.78	30.38	30.38
	0.40	0.55	0.54	0.72	0.50	1.89	0.48	0.51	0.33
	0.37	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	67.97	68.18	68.53	68.17	68.39	66.99	68.74	69.11	69.28

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-24

Credit Rating- Revision

2026-08-24 - Vascon Engineers Limited has informed the Exchange about Credit Rating

2026-08-19

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-19 - Vascon Engineers Limited has informed the Exchange about Transcript

2026-08-14

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - Vascon Engineers Limited has informed the Exchange about Link of Recording

2026-08-13

Copy of Newspaper Publication

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

Awarding of order(s)/contract(s)

2026-08-12 - Vascon Engineers Limited has informed the Exchange about Awarding of order(s)/contract(s)

2026-08-12

Investor Presentation

2026-08-12 - Vascon Engineers Limited has informed the Exchange about Investor Presentation

2026-08-12

Outcome of Board Meeting

2026-08-12 - Vascon Engineers Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - Vascon Engineers Limited has informed the Exchange about Schedule of meet

2026-08-10

Shareholders meeting

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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Vascon Engineers Ltd.

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Free 5nance Account

Name

3915.00

32.47

538651.57

0.97

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

205.00

47.52

42742.91

0.35

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1435.05

21.56

24506.71

0.77

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.64

24.86

23721.19

1.32

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1244.10

35.53

21372.09

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

269.20

19.30

15130.18

1.86

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

972.50

26.24

11310.13

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

WELENT

782.75

35.45

10834.34

0.38

56.36

-44.29

773.72

-8.44

16.44

19.49

KEC

406.45

19.54

10819.70

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

IRCON

113.20

20.33

10646.64

1.68

92.03

-43.92

1955.83

9.49

10.15

9.81

AFCONS

253.95

64.55

9339.89

0.79

303.00

120.52

26710.00

692.49

12.88

9.42

VASCONEQ

29.88

24.34

692.31

0.00

2.01

-91.05

151.94

-31.30

6.04

3.26

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

-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%

Interest

Depreciation

Profit before Tax

Tax %

3.28%

0.00%

30.63%

23.66%

20.00%

17.19%

5.82%

16.76%

25.35%

8.01%

53.87%

18.62%

Net Profit

0.54

0.90

0.74

0.66

0.41

0.35

3.38

1.49

0.99

0.50

0.41

0.25

0.09

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

-13

116

OPM %

-1.15%

1.44%

1.51%

10.16%

-2.52%

3.46%

11.38%

9.98%

7.86%

5.64%

4.23%

Interest

Depreciation

Profit before Tax

-40

103

149

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

-40

126

EPS

0.00

-2.27

1.76

4.49

3.03

5.74

2.11

—

Dividend Payout %

0.00%

8.26%

0.00%

—

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

182

217

221

226

232

Minority Interest

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

241

279

362

364

481

640

170

224

181

200

222

256

235

408

422

327

Total Liabilities

1,315

1,323

1,349

1,310

1,483

1,643

1,862

2,126

2,354

109

102

105

106

102

116

451

472

500

481

459

514

473

512

591

736

179

212

238

Cash & Bank

108

228

203

583

554

594

607

715

877

971

960

1,035

Total Assets

1,315

1,323

1,349

1,310

1,483

1,643

1,862

2,126

2,354

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

114

-22

-122

Cash from Investing

-23

-2

-27

-13

-32

-12

-17

Cash from Financing

-16

-24

-26

-34

-72

-22

-44

-12

-8

-24

-2

-29

100

-66

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

31.27

30.93

31.11

30.78

30.38

0.40

0.55

0.54

0.72

0.50

1.89

0.48

0.51

0.33

0.37

0.00

Government

0.00

67.97

68.18

68.53

68.17

68.39

66.99

68.74

69.11

69.28

Vascon Engineers Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Vascon Engineers Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI