As of 6 Nov 2026, Vascon Engineers trades at 24.9× trailing earnings, above the industry P/E of 16.4×, and the shares are 51% below their 52-week high. Its ROCE of 6.0% is the lowest among the 7 largest Engineering & Construction peers, and sales and net profit fell 1.8% and 21% a year over 3 years. Debt is 0.26× equity. It is a small-cap company with a market cap of ₹724 Cr, ranked 68th of 156 Engineering & Construction companies by market cap; the shares fell 54% over the past year.
- ₹31.32
- ₹31.50
- ₹30.15
- ₹31.77
- 7.2 L
Health check
- ReturnsBehind
−53.6% over a year, better than 0 of 7 peers.
- Price tagPricier
P/E 24.9 vs industry 16.4.
- GrowthShrinking
Sales −1.8%, profit −20.5% a year over 3 years.
- ProfitabilityWeak
ROCE 6.0% vs peer median 19.9%.
- Balance sheetStretched
Debt 0.26× equity, interest covered 5.4×, Piotroski 2 of 9.
- Red flags5 to check
Return on equity is low at 4.4%.
Small cap
Defensive
Key metrics
- Market cap
- ₹724 Cr
- Small cap
- P/E
- 24.9
- Industry 16.4
- Price to book
- 0.63
- Peers 4.92
- Dividend yield
- 0.00%
- ROE
- 4.4%
- Peers 17.9%
- ROCE
- 6.0%
- Peers 19.9%
- Debt to equity
- 0.26
- Debt ₹300 Cr
- EPS (TTM)
- ₹1.25
- Face value ₹10
- OPM (TTM)
- 5.1%
- Net margin 5.2%
- Sales growth
- −31.3%
- Latest quarter vs a year ago
- Profit growth
- −91.1%
- Latest quarter vs a year ago
- Price to sales
- 0.76
- EV/EBITDA 17.4
Strengths and risks
Risks to check
- Return on equity is low at 4.4%.
- Quarterly profit down 91.1% on a year ago.
- Quarterly sales down 31.3% on a year ago.
- P/E of 24.9 against an industry P/E of 16.4.
- 51% below its 52-week high.
About Vascon Engineers
Vascon Engineers Limited provides engineering, procurement, and construction (EPC) services in India. It operates through EPC; and Real Estate Development segments. The company constructs residential, commercial and IT, industrial, institutional, hospitals, airport, and hospitality projects; and develops residential and industrial properties, hotel premises, industrial parks, public infrastructure projects, malls and multiplexes, hospitality and community…
- Headquarters
- Pune
- Employees
- 751
- Sector
- Industrials
- ISIN
- INE893I01013
- Website
- vascon.com
Price range
- Avg volume (3M)
- 9.3 L
- 1-year return
- minus 53.6%
- From 52-week high
- minus 50.8%
Peers · Engineering & Construction
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LTLarsen & Toubro | 4,117.70 | plus 1.67% | 5,66,549 | 31.7 | 19.6 | 14.6% | 9.6% | 1.05 | 16.1% | plus 3.2% |
| RVNLRail Vikas Nigam | 193.34 | minus 0.18% | 40,312 | 44.9 | 56.9 | 11.0% | 4.3% | 0.49 | 0.2% | minus 40.5% |
| CEMPROCemindia Projects | 1,323.30 | plus 2.79% | 24,405 | 36.4 | 24.2 | 37.1% | 10.4% | 0.35 | 25.5% | plus 49.2% |
| KPILKalpataru Projects International | 1,370.80 | minus 0.04% | 23,410 | 19.7 | 10.1 | 19.9% | 8.3% | 0.46 | 18.4% | plus 4.3% |
| NBCCNBCC (India) | 78.00 | minus 2.90% | 21,060 | 26.5 | 19.8 | 34.3% | 6.1% | 0.00 | 12.9% | minus 29.5% |
| ENGINERSINEngineers India | 292.70 | minus 1.94% | 16,451 | 18.3 | 21.5 | 28.1% | 21.2% | 0.00 | 5.7% | plus 51.1% |
| WABAGVA Tech Wabag | 1,988.20 | plus 6.57% | 12,434 | 29.4 | 20.8 | 16.3% | 10.9% | 0.09 | 9.9% | plus 33.2% |
| VASCONEQVascon Engineers | 31.18 | minus 1.86% | 724 | 24.9 | 17.9 | 6.0% | 5.1% | 0.26 | −1.8% | minus 53.6% |
| Median of 7 peers | – | −0.04% | 23,410 | 29.4 | 20.8 | 19.9% | 9.6% | 0.35 | 12.9% | 4.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 221 | 226 | 249 | 253 | 152 | |
| 208 | 210 | 236 | 242 | 147 | |
| 13 | 15.9 | 13.1 | 10.7 | 4.9 | |
| 5.9% | 7.0% | 5.3% | 4.2% | 3.3% | |
| 20.5 | 3.9 | 4.3 | 5.7 | 4.9 | |
| 5 | 3.1 | 5.8 | 2.4 | 6.1 | |
| 1.5 | 1.3 | 1.6 | 1.5 | 1.3 | |
| 27.1 | 15.4 | 10.1 | 12.5 | 2.5 | |
| 16.9% | 25.7% | 8.1% | 54.4% | 18.6% | |
| 22.5 | 11.4 | 9.3 | 5.7 | 2 | |
| 0.99 | 0.50 | 0.41 | 0.25 | 0.09 |
Profit & loss
- Sales CAGR 3Y
- −1.8%
- Profit CAGR 3Y
- −20.5%
- EPS CAGR 3Y
- −21.8%
- ROE
- 4.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 998 | 744 | 1,074 | 945 | |
| – | minus 25.4% | +44.3% | minus 12.0% | |
| 893 | 675 | 981 | 894 | |
| 105 | 69.4 | 93.1 | 51.4 | |
| 10.5% | 9.3% | 8.7% | 5.4% | |
| 25.9 | 24 | 8.2 | 13.2 | |
| 10.4 | 11.4 | 13.8 | 14.9 | |
| 11.9 | 14.4 | 5.9 | 5.9 | |
| −5.3 | 0.3 | 67.6 | 21.2 | |
| 103 | 67.9 | 149 | 65.1 | |
| 3.8% | 9.5% | 15.2% | 24.9% | |
| 97.5 | 66.9 | 130 | 48.9 | |
| – | minus 31.4% | +94.1% | minus 62.3% | |
| 4.49 | 3.05 | 5.81 | 2.15 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 217 | 221 | 226 | 232 | |
| 694 | 760 | 867 | 917 | |
| 142 | 152 | 206 | 300 | |
| 595 | 728 | 830 | 913 | |
| 1,649 | 1,862 | 2,128 | 2,361 | |
| 86.3 | 49.2 | 50.2 | 41.6 | |
| 0 | 0 | 0 | 0 | |
| 42.3 | 33.7 | 40.1 | 3.9 | |
| 64.5 | 19.6 | 124 | 103 | |
| 1,456 | 1,759 | 1,915 | 2,212 | |
| 1,649 | 1,862 | 2,128 | 2,361 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 104 | −22.4 | 4.7 | −122 | |
| −32 | −11.9 | 68.1 | −17.2 | |
| −44.1 | 5.3 | 26.9 | 73.6 | |
| 27.5 | −28.9 | 99.7 | −66.1 | |
| −41.9 | −7.7 | −18.4 | −4.2 | |
| 61.7 | −30.1 | −13.6 | −127 | |
| – | −5.4 | – | – |
Shareholding pattern
- Promoters30.38%
- Public69.62%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 30.38% | 69.62% | 0.00 | |
| 30 Jun 2026 | 30.38% | 69.62% | 0.00 | |
| 31 Mar 2026 | 30.38% | 69.62% | minus 0.40 | |
| 31 Dec 2025 | 30.78% | 69.22% | minus 0.33 | |
| 30 Sep 2025 | 31.11% | 68.89% | – |
Major shareholders
Filings & events
News
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