Fin Cascade

Prices as of 8 Oct 2026 close · Not investment advice

Vascon Engineers Limited

NSE: VASCONEQResidential, Commercial Projects

Share price

₹30.34

-6.16% close of 8 Oct 2026

Market cap ₹704 CrP/E 25.1

Business score

How strong the business is, in one number. The parts behind it are in Pro.

44

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹704 Cr

P/E ratio

25.1

P/B ratio

0.6

ROCE

4.7%

ROE

2.2%

Dividend yield

0.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹71.2352-week low ₹27.06

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales fell 20.2% over the past year. Meanwhile what it keeps of every 100 rupees of sales improved from 4.0% to 4.9% over the last four years.

Whether it grew faster than its sector

It grew 14.0% a year against a sector median of 12.0% — 2.0 percentage points faster.

Room to re-rate, or risk of de-rating

At 25.1× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 36.2×, across 5 companies. It is against its own five-year median of 17.6×, the 80th percentile of its own range.

Whether growth justifies the valuation

Its earnings are falling, so growth cannot justify the price.

Profit growthPrice per ₹1 profitPer 1% growth
Vascon Engineers Limited — this one-37%/yr25.1×—
The Phoenix Mills Limited12%/yr49.2×₹4.1
Prestige Estates Projects18%/yr53.4×₹3.0
Oberoi Realty9%/yr22.9×₹2.5
Godrej Properties49%/yr28.6×₹0.58
Anant Raj Limited54%/yr36.2×₹0.67

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Residential, Commercial Projects), it ranks 58 of 86 on returns, 36 of 80 on growth, 58 of 86 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 4.7% on capital, ahead of 33% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years the business itself consumed ₹2 crore of cash before any plant spend, funded mostly borrowed — borrowings rose from ₹165 crore to ₹300 crore. And the profit is real: of every 100 rupees it reported over 12 years, about 123 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back more slowly than it used to: it went from being waiting 246 days for its cash to waiting 281 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 12 Aug 2026 · Consolidated · Unaudited

Revenue

₹152 Cr

Revenue vs last year

-31.3%

Revenue vs last quarter

-40.0%

Net profit

₹2 Cr

Profit vs last year

-91.1%

Profit vs last quarter

-64.9%

Net margin

1.3%

EPS

₹0.09

Earnings call transcript · 14 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹704 Cr
Prev close
₹30.34
52w High
₹74.6
52w Low
₹26.8
Enterprise value
₹754 Cr
Beta
1.7
Price CAGR 1y
-54.0%
Price CAGR 3y
-24.0%
Price CAGR 5y
2.0%
Price CAGR 10y
0.0%

Ratios

Return on assets
2.1%
PEG ratio
-0.7
P/E ratio
25.1
P/B ratio
0.6
EV / EBITDA
17.1
Industry P/E
23.4
ROCE
4.7%
ROCE 5y average
6.6%
ROE
2.2%
Debt / Equity
0.3
Interest coverage
4.6
Dividend yield
0.0%
ROE 3y average
4.0%
ROE last year
2.0%

Annual P&L

Annual revenue
₹949 Cr
Annual profit
₹49 Cr
Operating margin
6.0%
Net profit margin
5.2%
EBITDA margin
5.7%
Sales growth 3y
-2.3%
Sales growth 5y
13.4%
Profit growth 3y
-37.0%
Profit growth 5y
21.0%
EPS
₹2.1
Sales growth TTM
-20.0%
Profit growth TTM
-64.0%
Dividend payout
0.0%

Quarter P&L

Sales latest quarter
₹152 Cr
Profit latest quarter
₹2 Cr
YoY quarterly sales growth
-31.3%
YoY quarterly profit growth
-91.1%
OPM latest quarter
3.3%

Balance Sheet

Book Value
₹49.5
Face Value
₹10.0
Total debt
₹300 Cr
Total cash
₹203 Cr
Borrowings
₹300 Cr
Reserves / Equity
4.0

Cash Flow

Operating cash flow
-₹122 Cr
Free cash flow
-₹118 Cr
FCF yield
-19.3%
Net cash flow
-₹66 Cr

Shareholding

Promoter holding
30.4%
FII holding
0.3%
DII holding
0.0%
Public holding
69.3%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
DLF635.3036.61,57,2571.23793.94.11,280.3-52.96.3
Lodha Developers1,069.1025.91,06,8440.391,373.1103.44,996.743.116.4
Phoenix Mills1,792.3049.564,1070.14394.523.31,074.912.812.4
Oberoi Realty1,673.4523.060,8470.47543.529.01,300.931.717.3
Prestige Estates1,409.9053.360,7290.14271.4-19.42,675.115.910.4
Godrej Propert.1,533.0028.546,1780.64349.4-41.7506.216.57.6
Anant Raj586.5036.421,1070.16149.218.9631.46.612.1
Vascon Engineers30.4024.87040.002.0-91.0151.9-31.34.7
Median134.8823.48680.008.426.585.011.07.6

Competes with: Anant Raj Limited, Brigade Enterprises Limited, DLF Limited, Godrej Properties, Lodha Developers Limited, Oberoi Realty, Prestige Estates Projects, The Phoenix Mills Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales204159207234196200295387221226249253152
Expenses190152186214181185275350208210236243147
Material Cost325201247261244153
Change in Inventories10-10-51-45-23-24
Purchases of Stock-in-Trade000000
Employee Cost7.78107.56107.887.68
Other Expenses6.797.436.179.271411
Operating Profit157.28202016142037131613114.94
OPM %7.114.579.778.568.027.206.719.695.776.945.204.173.25
Other Income4.07183.898.162.314.62785.71214.094.475.854.88
Exceptional items (within Other Income)000000
Interest3.203.244.093.384.205.274.634.784.963.075.762.416.05
Depreciation3.111.651.411.501.331.441.551.571.531.301.571.451.30
Profit before tax1221192313129137271510132.47
Tax %3.2500282316175.6417268.125419
Net Profit122119179.6010763522119.285.722.01
EPS in Rs0.550.950.840.760.430.463.341.540.990.510.410.250.09
Diluted EPS in Rs1.540.990.500.410.250.09

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6235884905395245215066571,0197641,077949880
Expenses717551496531516466519634902687989895836
Material Cost987953
Change in Inventories-74-129
Purchases of Stock-in-Trade00
Employee Cost3736
Other Expenses4037
Operating Profit-9437-68855-132311876885444
OPM %-156-1.101.401.6011-2.503.501210865
Other Income11275838362012531118903519
Exceptional items (within Other Income)740
Interest31403426272027251314201817
Depreciation22151614131512111265.895.856
Profit before tax-136835440-4040103741536540
Tax %6-16557-240111491525
Net Profit-145915540-403699681304928
EPS in Rs-9.170.530.120.330.382.22-2.241.624.493.025.742.111.26
Diluted EPS in Rs5.812.15
Dividend Payout %000000006800

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
5%
5 years
13%
3 years
-2%
TTM
-20%

Compounded profit growth

10 years
47%
5 years
21%
3 years
-37%
TTM
-64%

Stock price CAGR

10 years
0%
5 years
2%
3 years
-24%
1 year
-54%

Return on equity

10 years
3%
5 years
5%
3 years
4%
Last year
2%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital90161168174178178182217217221226232
Reserves428465467494512556517594694760867917
Borrowings334269274278253255215165142152206300
Other Liabilities503457415376388366403514595728830913
Minority Interest00
Total Liabilities1,3561,3521,3231,3221,3301,3561,3161,4901,6491,8622,1282,361
Fixed Assets1891161301191141089994117637464
CWIP200100000000
Investments6112284868398817683838599
Other Assets1,1031,1141,1091,1161,1331,1501,1371,3201,4501,7151,9692,198
Total Assets1,3561,3521,3231,3221,3301,3561,3161,4901,6491,8622,1282,361

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity7838281056387033104-225-122
Cash from Investing Activity8-21-236-2-276-13-32-1268-17
Cash from Financing Activity-63-26-16-24-26-34-72-22-4452774
Net Cash Flow23-9-12-828-244-128-29100-66
Free Cash Flow81369104535712362-21-12-117

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1721501671391401271189078857292
Inventory Days3,038371453451476503416363219300236326
Days Payable2,217160197184192211219197167213193284
Cash Conversion Cycle993361424406425419316256129172116134
Working Capital Days-16141259233305303267246183266198281
ROCE %-1144336-2211785

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters323232313131313131313030
FIIs0.900.110.890.400.550.540.720.501.890.480.510.33
DIIs0.090.140.140.3700000000
Public676867686869686867696969
No. of Shareholders58,08675,30886,48091,58492,70795,55494,23696,34996,56897,01794,46693,670

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -57.4% (₹71.23 → ₹30.34)Brick size ₹1.66 (fixed)Bricks 50
₹40.00₹60.00₹30.34Nov '25Jan '26Mar '26May '26Jul '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹30.34 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

49.71inr_cr

2026-03-31

order book, Rs crore

2,850inr_cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

News

News and filings about Vascon Engineers Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Uses as raw material

  • Aluminium sections and architectural glass (facades, windows)
  • Cement (OPC/PPC)
  • Coarse aggregates and manufactured/river sand
  • Electrical cables and wiring
  • Ready-mix concrete (RMC)
  • Steel / TMT reinforcement bars

Sells to

  • Airports Authority of India · EPC construction - Adampur Airport (completed)
  • Bangalore Metro Rail Corporation (BMRCL) · EPC construction - Metro Shed, Bengaluru (completed)
  • Capgemini Technology Services India · EPC construction - IT Park, Chennai
  • Cipla · EPC construction - pharmaceutical facility
  • DLF Limited · EPC construction - commercial/residential development
  • Dr Reddy's Laboratories · EPC construction - pharmaceutical facility
  • GMR Group · EPC construction - infrastructure project
  • Global Hospitals (Gleneagles) · EPC construction - healthcare facility
  • Goa Institute of Management · EPC construction - education campus
  • Government of Bihar · EPC construction - medical college
  • Government of Chhattisgarh · EPC construction - Raj Bhavan / Chief Minister House, Raipur (completed)
  • Government of Uttar Pradesh · EPC construction - Bijnor and Kaushambi Medical College & Hospital (completed)
  • Hyatt Hotels Corporation · EPC construction - hospitality
  • IBM India · EPC construction - IT campus
  • NBCC (India) Limited · EPC construction - government project execution
  • Novotel Hotels (Accor) · EPC construction - hospitality
  • Pimpri Chinchwad Municipal Corporation · EPC construction - hospital
  • Pradhan Mantri Awas Yojana - Pune · EPC construction - PMAY affordable housing, Pune (completed)
  • Sahyadri Hospitals · EPC construction - healthcare facility
  • Sanofi India Limited · EPC construction - pharmaceutical facility
  • Suzlon Energy Limited · EPC construction - Suzlon One Earth corporate campus, Pune (completed)
  • Symbiosis International University · EPC construction - education campus
  • Tata Housing Development Company · EPC construction - residential development
  • Vedanta Limited · EPC construction - township project
  • Zensar Technologies Limited · EPC construction - IT campus

Buys from

  • D P Wires Limited · LRPC strands and specialised steel wires — named as a marquee client (FY25 AR company prof…

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Realty
Industry
Residential, Commercial Projects
Classification
Realty › Residential, Commercial Projects
ISIN
INE893I01013

Business segments

  • EPC (Engineering, Procurement and Construction) · 97%
  • Real Estate Development · 4%

News impact

Big market events that reach Vascon Engineers Limited, and how the effect spreads.

25 Sept, 14:01 IST · Market event · high impact

Vascon Engineering bags order worth ₹660 crore from Qualcomm

Vascon Engineers won a ₹660 crore Qualcomm office job in Bengaluru, helping its order book but weak returns keep investors cautious, leaving rival builders unchanged.

Construction

Who it hits first

  • Vascon Engineers, the building contractor, has received a Letter of Intent worth ₹660 crore from Qualcomm to build Bengaluru office facilities.
  • The job covers three basements, G+12 floors and associated roads and services.
  • Work and cash will flow as construction progresses, not all at once.

Who may gain

  • Vascon Engineers shareholders, who gain a large private order and clearer revenue ahead
  • Local suppliers and workers in Bengaluru, who get construction work as the project starts

Along the supply chain

Downstream

Downstream, Qualcomm as the office user gets new Bengaluru space; no shopper or tenant impact until the building opens.

Upstream

Upstream sellers of cement, steel, wires and gear — including wire maker D P Wires — could see small extra orders as Vascon buys materials for the site.

Where demand moves

Business

Real building demand lands on Vascon — engineers, concrete, steel and equipment will be needed to raise the Qualcomm offices over coming quarters.

Capital

Investors may bid Vascon shares higher on the order news, with little spillover buying for other builders who won nothing.

How it spreads across sectors

Construction

Positive order mood as a ₹660 crore private office job lands, but only Vascon books the work.

Realty

Neutral for home builders like DLF and Lodha, who compete with Vascon but win nothing here.

A pattern seen before

Cascade chain

  • ₹660cr office order → construction work for Vascon
  • Construction activity → cement and steel offtake
  • Equipment use → capital goods demand
  • Project funding → bank credit demand

Pattern name

Govt Capex Cascade

Patterns

  • Govt Capex Cascade

Sectors queried

  • Banking
  • Capital Goods
  • Cement
  • Infrastructure
  • Steel

When it plays out

Immediate

In 1-7 days Vascon shares respond to the order while the Letter of Intent awaits a final contract.

Medium term

In 1-6 months construction billings start lifting Vascon revenue quarter by quarter.

Short term

In 1-4 weeks site mobilisation and material orders begin if the contract is signed.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

21 Aug 2023interim₹0.25
14 Sep 2011unspecified₹1

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.