Vascon Engineers Ltd
VASCONEQVascon Engineers Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
Biggest watch item: the P/E sits at the 78th percentile of its own range — the multiple has already done part of the work.
The price is in a downtrend (30 weeks in) while the P/E sits at the 78th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −83.5% year on year, and −56% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Vascon Engineers Ltd trades at ₹34.4, in a downtrend and 30 weeks into that stage. That is −15.5% against its own 200-day average. It sits at 11% of a 52-week range of ₹30 to ₹71. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).
Today the stock is in a downtrend — week 30 of stage 4, confirmed. At ₹34.4 it trades −15.5% versus its 200-day average and sits at 11% of its 52-week range (₹30–₹71).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +36% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-19) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 78th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Vascon Engineers Ltd trades at 30.1× P/E, at the pricey end of its own range (78th percentile). Its long-run median P/E is 16.8×, measured across 10.3 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 30.1× is at the pricey end of its own range (78th percentile), against a long-run median of 16.8× measured over 10.3 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved −63.2% against a −39.8% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 10y, of the +0.8%/yr price move, ~+11.2%/yr came from earnings growth and ~−10.4 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Deteriorating Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Vascon Engineers Ltd reads as deteriorating on its fundamental arc. Deteriorating — revenue and profit growth are shrinking (revenue growth −34.6% latest (single-quarter readings) against +42.7% at its 12-quarter best), ROCE slipping at 5.0%. The read is built from 10 quarters across 3 curves, on partial evidence.
🚨 Why it matters: falling curves mean every cheap-looking ratio below needs a discount for direction.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | −11.9% | −2.3% | +13.4% | +4.9% |
| Profit | −62.3% | −20.9% | — | +18.5% |
| EPS | −63.2% | −22.3% | — | +14.8% |
| Share price | −39.8% | −8.5% | +8.9% | +0.8% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
31.8/100 — rank 11 of 12 in Construction & Contracting · 70% evidence confidence
Vascon Engineers Ltd scores 31.8 out of 100 against the 12 companies it is compared with in Construction & Contracting, ranking 11. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 9.5 + 8.5 + 9.4 + 4.4 = 31.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Vascon Engineers Ltd reported ₹253 Cr of revenue in the Mar 26 quarter, −34.6% year on year. Over 10 years it has compounded at 4.9% a year. The last full year, FY26, came in at ₹949 Cr. The last four reported quarters add to ₹949 Cr.
Vascon Engineers Ltd reported ₹253 Cr of revenue in the Mar 26 quarter, −34.6% year on year. Over 10 years it has compounded at 4.9% a year. The last full year, FY26, came in at ₹949 Cr. The last four reported quarters add to ₹949 Cr.
FY26 revenue came in at ₹949 Cr (−11.9% on the year), capping 10 years at 4.9% compound. The latest quarter (Mar 26) printed ₹253 Cr, −34.6% year on year.
Pace check: the last four quarters averaged −6.1% growth against the decade's 4.9% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew −11.9% over the last 4 quarters against +8.7%/yr over the last 8 — rolling over; TTM profit −62.5% vs −15.2%/yr — rolling over.
→ Revenue slipped — did margins hold as it scaled? Next: 4.2% this quarter (−5.5 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Vascon Engineers Ltd's operating margin is 4.2% in the Mar 26 quarter, −5.5 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −15.0% to 12.0%. The current quarter sits inside that band.
Vascon Engineers Ltd's operating margin is 4.2% in the Mar 26 quarter, −5.5 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −15.0% to 12.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 4.2%, −5.5 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −15.0%–12.0%.
🚨 Why the margin moved: operating margin went −5.5 pp year on year while gross margin went −0.5 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
→ Margins slipped — did that reach the bottom line? Next: profit −83.5% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Vascon Engineers Ltd earned ₹5.7 Cr of net profit in the Mar 26 quarter, −83.5% year on year. Full-year FY26 profit was ₹49.0 Cr. The 10-year compound rate is 18.5%. That is 2.3% of the quarter's revenue. The same quarter a year earlier earned ₹34.8 Cr.
Vascon Engineers Ltd earned ₹5.7 Cr of net profit in the Mar 26 quarter, −83.5% year on year. Full-year FY26 profit was ₹49.0 Cr. The 10-year compound rate is 18.5%. That is 2.3% of the quarter's revenue. The same quarter a year earlier earned ₹34.8 Cr.
Mar 26 profit was ₹5.7 Cr, −83.5% year on year. On the full year, FY26 printed ₹49.0 Cr (−62.3%), and the 10-year compound rate is 18.5%.
🚨 Why profit moved: revenue contributed −34.6% and the margin −5.5 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit −6.6% vs revenue −6.1%. Profit and revenue are moving roughly in step.
→ Profit rose — but did the cash follow? Next: −56% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years −56% of Vascon Engineers Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−122 Cr of operating cash against ₹49.0 Cr of profit. After ₹−4.0 Cr of capital spending, ₹−118 Cr was left as free cash.
FY26: operating cash of ₹−122 Cr against reported profit of ₹49.0 Cr, leaving free cash of ₹−118 Cr after ₹−4.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −56% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −56%: the cash cycle tightened 182 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
→ So follow the cash to where it goes. Next: a 134-day cycle and ₹−35.0 Cr of building.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Vascon Engineers Ltd's cash conversion cycle runs 134 days in FY26, down from 316 days in FY21. Capital spending ran ₹−35.0 Cr over the last 3 years. At FY26 sales of ₹949 Cr each day of that cycle holds about ₹2.6 Cr, so roughly ₹348 Cr sits inside the business at any moment.
FY26: debtors at 92 days, inventory at 326 days — roughly 10.7 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 134 days, tighter than FY21's 316.
The full loop: cash goes out to suppliers and production on day 0; stock waits 326 days to sell; customers pay about 92 days after that; and suppliers themselves are paid at 284 days — netting out to the 134-day cycle.
In money terms: at FY26 sales of ₹949 Cr, each day of the cycle holds about ₹2.6 Cr — so the 134-day loop keeps roughly ₹348 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹−35.0 Cr over the last 3 fiscal years against ₹18.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 5% and the ROIC − WACC spread is −9.0 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Vascon Engineers Ltd earns a ROCE of 5% in FY26. That is up from a trough of −11% in FY15. Return on invested capital clears the cost of that capital by −9.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 5.2% net margin on 0.40× asset turns.
FY26 ROCE is 5%, recovered from a FY15 trough of −11% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 5.2% net margin × 0.40× asset turns × 2.05× balance-sheet leverage ≈ 4.3% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 3.0% − 12.0% = a −9.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.26.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Vascon Engineers Ltd carries total debt of ₹300 Cr against shareholder equity of ₹1,149 Cr as of Mar 26, a debt-to-equity of 0.26 — effectively unlevered. On the annual view that ratio went from 0.20 in FY22 to 0.26 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹300 Cr against shareholder equity of ₹1,149 Cr — a debt-to-equity of 0.26. On the annual view, debt-to-equity went from 0.20 (FY22) to 0.26 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: the register is quiet.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Vascon Engineers Ltd moved a full percentage point over the last two years — the register is quiet. Domestic institutions moved −0.4 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −0.9 points over 8 quarters to 30.4%; Domestic institutions: −0.4 points over 8 quarters to 0.0%; Foreign institutions: −0.1 points over 8 quarters to 0.3%.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Vascon Engineers Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Vascon Engineers Ltd this page | 30.1× | ₹749 Cr | Deteriorating | |||
| NCC Ltd | 12.3× | ₹8,607 Cr | Mixed | |||
| Mahindra Lifespace Developers Ltd | 25.7× | ₹7,993 Cr | Turning around | |||
| PSP Projects Ltd | 72.7× | ₹4,088 Cr | Turning around | |||
| Man Infraconstruction Ltd | 21.1× | ₹3,903 Cr | Deteriorating | |||
| Ashoka Buildcon Ltd | 4.2× | ₹3,393 Cr | Mixed | |||
| Garuda Construction and Engineering Ltd | 13.3× | ₹1,625 Cr | — | No read | ||
| RDB Infrastructure and Power Ltd | 97.8× | ₹915 Cr | Mixed | |||
| Modis Navnirman Ltd | 26.4× | ₹768 Cr | Improving | |||
| BEML Land Assets Ltd | 73,261.0× | ₹733 Cr | No read | |||
| Consolidated Construction Consortium Ltd | — | ₹709 Cr | No read | |||
| Modis Navnirman Ltd | 80.2× | ₹658 Cr | No read | |||
| Jaiprakash Associates Ltd | — | ₹594 Cr | No read | |||
| RDB Infrastructure and Power Ltd | 38.9× | ₹485 Cr | Turning around |
Frequently asked questions
What is Vascon Engineers Ltd's share price today?
Vascon Engineers Ltd trades at ₹34.4, −39.8% over the past year. The company is valued at ₹749 Cr. The stock sits at 11% of its 52-week range of ₹30–₹71, −15.5% versus its 200-day average. On the tape, the price is in a downtrend, 30 weeks in. — as of 24 July 2026.
What were Vascon Engineers Ltd's latest quarterly results?
Vascon Engineers Ltd reported revenue of ₹253 Cr and net profit of ₹5.7 Cr for the Mar 26 quarter. Revenue fell 34.6% and profit fell 83.5% year on year. Earnings per share were ₹0.25. The operating margin was 4.2%, 5.5 pp lower than a year earlier. — as of 24 July 2026.
What is Vascon Engineers Ltd's revenue?
Vascon Engineers Ltd reported revenue of ₹253 Cr in the Mar 26 quarter, −34.6% year on year. For the full FY26 fiscal year, revenue was ₹949 Cr (−11.9%). Over the last 10 years revenue compounded at 4.9% a year. — as of 24 July 2026.
What is Vascon Engineers Ltd's profit?
Vascon Engineers Ltd earned ₹5.7 Cr of net profit in the Mar 26 quarter, −83.5% year on year. Full-year FY26 profit was ₹49.0 Cr. The operating margin ran 4.2% in the latest quarter. — as of 24 July 2026.
What is Vascon Engineers Ltd's market cap?
Vascon Engineers Ltd's market capitalisation is ₹749 Cr at a share price of ₹34.4. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Vascon Engineers Ltd's P/E ratio?
Vascon Engineers Ltd trades at a P/E of 30.1×, at the 78th percentile of its own 10-year range, against a long-run median of 16.8×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Vascon Engineers Ltd pay a dividend?
Not in its latest year — Vascon Engineers Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 2 of its last 13 reported fiscal years, so there is a history but no current dividend. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Vascon Engineers Ltd overvalued?
On its own history, Vascon Engineers Ltd looks expensive against its own history: its P/E of 30.1× sits at the 78th percentile of its 10-year range (long-run median 16.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Vascon Engineers Ltd growing?
Not right now — Vascon Engineers Ltd's latest numbers are shrinking: latest-quarter revenue −34.6% year on year, profit −83.5%, and the margin −5.5 pp at 4.2%. The 10-year compound rates are 4.9% (revenue) and 18.5% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.
How is Vascon Engineers Ltd performing?
Vascon Engineers Ltd is in a downtrend, 30 weeks in. Its latest quarter's revenue fell 34.6% and profit fell 83.5% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Vascon Engineers Ltd in?
Deteriorating — revenue and profit growth are shrinking (revenue growth −34.6% latest (single-quarter readings) against +42.7% at its 12-quarter best), ROCE slipping at 5.0%. The read comes from the last 12 quarters of growth (revenue growth −34.6% latest, profit growth −83.5% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Vascon Engineers Ltd in an uptrend?
No — the price is in a downtrend (week 30 of stage 4), trading −15.5% versus its 200-day average and at 11% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Vascon Engineers Ltd beating the market?
Not lately — on a trailing-13-week view Vascon Engineers Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-06-19), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +36% against the NIFTY 500's +274% — behind the index over the full window. — as of 24 July 2026.
Will Vascon Engineers Ltd's share price go up?
This page publishes no price forecast for Vascon Engineers Ltd. What it measures instead: the share price is ₹34.4, the price is in a downtrend 30 weeks in. Its P/E of 30.1× sits at the 78th percentile of its own 10-year range. — as of 24 July 2026.
Who owns Vascon Engineers Ltd?
Promoters hold 30.4% of Vascon Engineers Ltd, foreign institutions 0.3%, domestic institutions 0.0% and the public 69.3% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 24 July 2026.
Does Vascon Engineers Ltd have too much debt?
No — Vascon Engineers Ltd's debt-to-equity is 0.26, and operating profit covers the interest bill 3×. FY26 borrowings were ₹300 Cr against equity of ₹1,149 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Vascon Engineers Ltd's capex?
Vascon Engineers Ltd spent ₹−35.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹−4.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Vascon Engineers Ltd's cash flow?
Vascon Engineers Ltd generated ₹−122 Cr of operating cash flow in FY26 and ₹−118 Cr of free cash flow after ₹−4.0 Cr of capital spending. Reported profit that year was ₹49.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Vascon Engineers Ltd's profit real cash?
Not fully — over the last 3 fiscal years, −56% of Vascon Engineers Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−122 Cr against reported profit of ₹49.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Vascon Engineers Ltd in its business cycle?
Vascon Engineers Ltd's FY26 operating margin was 6.0%, against a 13-year band of −15.0%–12.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 4.2%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Vascon Engineers Ltd story?
Biggest watch item: the P/E sits at the 78th percentile of its own range — the multiple has already done part of the work. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Vascon Engineers Ltd a stock worth studying right now?
This is not investment advice. The machine read: Vascon Engineers Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.