Vascon Engineers Limited (VASCONEQ)

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Vascon Engineers Limited (VASCONEQ) · mywealthgrid

About

Vascon Engineers Limited develops residential and commercial real estate projects. The company operates at ₹737 Cr market cap but shows deteriorating financial performance: operating margins fell from 7.04% (Sep 2025) to 3.25% (Jun 2026), and net profit declined from ₹11.62 Cr to ₹2.01 Cr.

Face value: ₹10

Market cap

₹755 Cr

P/E

26.5×

P/B

0.7×

Dividend yield

ROE

4.4%

ROCE

6.5%

Debt / equity

0.26

OPM

5.6%

EPS (TTM)

₹1.2

Book value

₹49.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins fell from 7.04% (Sep 2025) to 3.25% (Jun 2026); verify if driven by input cost inflation or project execution factors.
Quarterly revenue declined from ₹253 Cr (Mar 2026) to ₹152 Cr (Jun 2026); verify if this reflects project delivery timing or underlying demand weakness.
EPS fell from ₹0.51 (Sep 2025) to ₹0.08–0.09 (Jun 2026); PE 25.92 provides limited valuation buffer if earnings remain under pressure.
Real estate sector cyclicality: verify housing starts, pre-sales trends, commercial occupancy, and mortgage availability indicators.

Generated analysis · source review pending

Growth drivers

Jun 2026 quarterly revenue (₹152 Cr) may reflect project execution timing rather than structural demand weakness; verify project delivery schedule and pre-sales pipeline.
Earnings recovery if margin compression reverses: OPM fell from 7.04% (Sep 2025) to 3.25% (Jun 2026); verify if cost and project factors are temporary.
Residential and commercial real estate demand recovery (company's operating segments); verify housing starts, pre-sales trends, and commercial occupancy cycles.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹32.6-4.1%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of 8% (3-yr avg)
−Thin operating margin of 5.6%
−Profit declined 20.5% a year over the last 3 years

Research score

Structured signal from quality, growth, valuation and momentum.

28/100

Business quality: 25
Growth: 0
Valuation: 58

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lodha Developers LimitedLODHALODHA	₹1,10,460 Cr	₹1,20,344 Cr	₹18,181 Cr	₹5,859 Cr	29.5%	₹4,126 Cr	20.6%	20.1%	15.8%	1,405
The Phoenix Mills LimitedPHOENIXLTDPHOENIXLTD	₹69,017 Cr	₹74,313 Cr	₹4,545 Cr	₹2,714 Cr	59.6%	₹1,280 Cr	35.2%	12.4%	11.4%	734
Prestige Estates Projects LimitedPRESTIGEPRESTIGE	₹64,006 Cr	₹78,992 Cr	₹13,053 Cr	₹3,675 Cr	29.2%	₹1,139 Cr	10.3%	13.6%	7.5%	2,755
Oberoi Realty LimitedOBEROIRLTYOBEROIRLTY	₹63,797 Cr	₹66,613 Cr	₹6,322 Cr	₹3,572 Cr	55.9%	₹2,630 Cr	41.7%	17.5%	14.9%	1,581
Godrej Properties LimitedGODREJPROPGODREJPROP	₹48,065 Cr	₹63,680 Cr	₹5,203 Cr	₹-458 Cr	-8.1%	₹1,600 Cr	35.9%	12.5%	10.1%	6,464
Anant Raj LimitedANANTRAJANANTRAJ	₹20,797 Cr	₹21,403 Cr	₹2,551 Cr	₹688 Cr	26.1%	₹579 Cr	22.2%	12%	11.2%	236
Brigade Enterprises LimitedBRIGADEBRIGADE	₹18,579 Cr	₹24,688 Cr	₹5,532 Cr	₹1,465 Cr	25.1%	₹695 Cr	12.7%	11.1%	10.3%	938
Horizon Industrial Parks LimitedHORIZONINDHORIZONIND	₹14,025 Cr	₹20,910 Cr	₹691 Cr	₹531 Cr	76.9%	₹-198 Cr	-29.5%	3.3%	-5.9%	-46
Sobha LimitedSOBHASOBHA	₹12,968 Cr	₹13,970 Cr	₹5,617 Cr	₹364 Cr	6%	₹231 Cr	3.7%	7.4%	4.2%	17,827
Aditya Birla Real Estate LimitedABRELABREL	₹12,293 Cr	₹17,929 Cr	₹450 Cr	₹-375 Cr	-88.2%	₹-116 Cr	-83%	-4.4%	-2.7%	22,467
Sri Lotus Developers And Realty LimitedLOTUSDEVLOTUSDEV	₹11,244 Cr	₹11,374 Cr	₹840 Cr	₹299 Cr	36.5%	₹257 Cr	31.6%	22.3%	16.7%	840
Signatureglobal (India) LimitedSIGNATURESIGNATURE	₹10,376 Cr	₹13,317 Cr	₹2,282 Cr	₹-126 Cr	-1.9%	₹1,044 Cr	42.2%	3.4%	85%	1,407

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	485	507	653	1,000	1,037	1,078	949
COGS	349	402	518	789	833	913	824
Gross profit	136	104	135	211	204	165	126
	82	118	113	94	119	78	74
	54	-13	22	117	85	87	52
OPM %	11.1%	-2.6%	3.4%	11.7%	8.2%	8.1%	5.5%
Depreciation	15	12	11	12	14	6	6
Interest	19	27	24	13	16	19	16
	20	12	53	11	23	90	35
Profit before tax	40	-40	40	103	78	153	65
Tax	0	0	4	4	10	23	16
Tax %	0.2%	1%	11%	3.8%	12.3%	14.9%	24.9%
	40	-40	36	99	68	130	49
PAT margin %	8.2%	-8%	5.5%	9.9%	6.6%	12.1%	5.2%
EPS (₹)	2.2	-2.3	1.8	4.5	3.1	5.8	2.2
EPS adjusted (₹)	—	-2.2	1.6	4.5	3	5.7	2.1
	0%	—	0%	0%	8.2%	0%	—
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	182	217	217	221	226	232
Reserves	517	594	694	760	867	917
Minority interest	10	13	13	14	—	—
	213	157	135	175	205	299
	394	509	590	692	831	914
Total equity & liabilities	1,316	1,490	1,649	1,862	2,128	2,361
	83	79	102	95	50	42
CWIP	0	0	0	0	0	0
Investments	97	92	97	97	109	122
	1,137	1,320	1,450	1,670	1,969	2,198
Total assets	1,316	1,490	1,649	1,862	2,128	2,361

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
EPC (Engineering, Procurement and Construction)	916.41	122.05	1,081.36	641.92	439.44	27.77
Real Estate Development	32.88	3.15

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	28.1%	20.6%	20.7%	21.1%	19.7%	15.3%	13.2%
EBITDA margin %	3.7%	-2.4%	2.8%	9.8%	6.7%	8.2%	5.6%
EBIT margin %	0.6%	-4.8%	1.2%	8.6%	5.3%	7.6%	4.9%
PAT margin %	8.2%	-8%	5.5%	9.9%	6.6%	12.1%	5.2%
Working capital
Receivable days	—	118	91	79	94	72	92
Inventory days	—	416	363	219	246	236	326
Payable days	—	219	197	167	177	193	284
NWC days	—	316	257	131	163	116	134
Leverage
Current ratio	—	1.84	1.88	1.96	1.86	1.89	1.95
Debt to EBITDA	—	—	8.48	1.38	2.51	2.33	5.67
Debt to equity	—	0.3	0.19	0.15	0.18	0.19	0.26
Interest coverage	1.2	-0.4	2.5	7.6	4.9	5	5.1
Asset turnover	—	0.39	0.44	0.61	0.56	0.51	0.4
Return ratios
Return on assets %	—	-3.1%	2.4%	6%	3.6%	6.1%	2.1%
Return on capital employed %	—	-1.6%	7.5%	10.4%	7.4%	8.2%	6.5%
Return on equity %	—	-5.8%	4.4%	10.9%	6.9%	11.9%	4.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	32.2%	31.62%	31.62%	31.27%	31.27%	30.93%	31.11%	31.11%	31.11%	30.78%	30.38%	30.38%
	0.9%	0.11%	0.89%	0.4%	0.55%	0.54%	0.72%	0.5%	1.9%	0.48%	0.51%	0.33%
DII	0.09%	0.15%	0.15%	0.37%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	66.81%	68.12%	67.34%	67.96%	68.18%	68.53%	68.17%	68.39%	66.99%	68.74%	69.11%	69.29%
No. of shareholders	—	—	—	—	—	—	—	—	96,568	97,017	94,466	93,670

Promoter holding down 1.82 percentage points since Sep 2023.

7 disclosures

Person	Deal	Shares	Value	Holding	Filed
Somnath BiswasKey Managerial Personnel	SellMarket Sale	20,000	₹13.6 L	0.75% → 0.74%	3 Oct 20257(2)
NAVIN HARI SINGH THAKUR	SellMarket Sale	37,795	₹25.35 L	0.02%

67 deals · 18 May 2023 – 3 Feb 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
3 Feb 2026	NAVRATRI SHARE TRADING PRIVATE LIMITED .	Bulk	NSE	Sell	16,00,000	₹42.35	₹6.78 Cr
10 Oct 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	12,13,508	₹72.56	₹8.81 Cr
10 Oct 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	11,18,211	₹72.16	₹8.07 Cr
3 Oct 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	13,76,712	₹68.85	₹9.48 Cr
3 Oct 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	11,00,507	₹69.12	₹7.61 Cr
30 Sept 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	16,11,198	₹68.47	₹11.03 Cr
30 Sept 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	16,05,925	₹68.93	₹11.07 Cr
30 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	14,68,658	₹69.03	₹10.14 Cr
30 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	14,68,658	₹69.07	₹10.14 Cr
30 Sept 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	12,28,706	₹68.97	₹8.47 Cr

1–10 of 67

1 / 7

Mr. SIDDHARTH VASUDEVAN MOORTHYExecutive Director-MD
Mr. SANKARAMAHALINGAM BALASUBRAMANIANNon-Executive - Independent Director
Mrs. TARA SUBRAMANIAMNon-Executive - Independent Director
Mr. SANTOSH PURSRAM SUNDARARAJANExecutive Director-CEO
Rajesh Dilip MhatreChief Executive Officer-Real Estate
Mrs. SOWMYA ADITYA IYERNon-Executive - Non Independent Director
Mr. DIVYA MANEKLAL SHAHNon-Executive - Independent Director
Ms. Shinu ThomasSenior Manager - Legal
Mr. Somnath BiswasChief Financial Officer
Ms. Neelam PipadaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Vascon Engineers Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Aug 2026Transcript AI SummaryPPTREC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

2

Interim dividend21 Aug 2023 · ex-date₹0.25
Dividend dividend14 Sept 2011 · ex-date₹1

1

Board meeting to consider results12 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

15 announcementsExport CSV

24 Aug 2026, 12:08 pmCompany Update

Announcement under Regulation 30 (LODR)-Credit Rating

Credit Rating PDF

Loading announcements…

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	28.1%	20.6%	20.7%	21.1%	19.7%	15.3%	13.2%
EBITDA margin %	3.7%	-2.4%	2.8%	9.8%	6.7%	8.2%	5.6%
EBIT margin %	0.6%	-4.8%	1.2%	8.6%	5.3%	7.6%	4.9%
PAT margin %	8.2%	-8%	5.5%	9.9%	6.6%	12.1%	5.2%
Working capital
Receivable days	—	118	91	79	94	72	92
Inventory days	—	416	363	219	246	236	326
Payable days	—	219	197	167	177	193	284
NWC days	—	316	257	131	163	116	134
Leverage
Current ratio	—	1.84	1.88	1.96	1.86	1.89	1.95
Debt to EBITDA	—	—	8.48	1.38	2.51	2.33	5.67
Debt to equity	—	0.3	0.19	0.15	0.18	0.19	0.26
Interest coverage	1.2	-0.4	2.5	7.6	4.9	5	5.1
Asset turnover	—	0.39	0.44	0.61	0.56	0.51	0.4
Return ratios
Return on assets %	—	-3.1%	2.4%	6%	3.6%	6.1%	2.1%
Return on capital employed %	—	-1.6%	7.5%	10.4%	7.4%	8.2%	6.5%
Return on equity %	—	-5.8%	4.4%	10.9%	6.9%	11.9%	4.3%

Date	Category	Subject	Filing
24 Aug 2026, 12:08 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
19 Aug 2026, 1:39 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
14 Aug 2026, 6:31 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF
13 Aug 2026, 6:07 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
10 Aug 2026, 6:20 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
10 Aug 2026, 12:22 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
7 Aug 2026, 6:39 pm	Board Meeting	Board Meeting Intimation for Consideration And Approval Of The Standalone And Consolidated Unaudited Financial Results Of The Company For The Quarter Ended June 30, 2026	PDF
7 Aug 2026, 6:15 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	28	10	68	33	104	-29	5	-122
	-23	6	6	-7	-32	-8	68	-17
	-16	-24	-70	-28	-44	5	27	74
Net cash flow	—	—	4	-2	28	-31	100	-66
Free cash flow	5	2	64	18	62	-49	-14	-127
CFO / Operating profit %	—	—	—	179.5%	106.3%	-41%	5.4%	-232.4%

Vascon Engineers Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends2

Board meetings1

Announcements

Dividends2

Board meetings1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

EPC (Engineering, Procurement and Construction) · revenue

2

1

2

1