New Risk • May 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 37% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.2% net profit margin). Market cap is less than US$100m (₹8.01b market cap, or US$82.9m). Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹33.32, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 16x in the Construction industry in India. Total loss to shareholders of 7.9% over the past three years. Reported Earnings • May 12
Full year 2026 earnings released: EPS: ₹2.15 (vs ₹5.62 in FY 2025) Full year 2026 results: EPS: ₹2.15 (down from ₹5.62 in FY 2025). Revenue: ₹9.84b (down 8.6% from FY 2025). Net income: ₹489.0m (down 61% from FY 2025). Profit margin: 5.0% (down from 12% in FY 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year. Duyuru • May 04
Vascon Engineers Limited to Report Q4, 2026 Results on May 11, 2026 Vascon Engineers Limited announced that they will report Q4, 2026 results on May 11, 2026 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹32.70, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 15x in the Construction industry in India. Total returns to shareholders of 22% over the past three years. New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (₹7.07b market cap, or US$75.8m). Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Additional Non-Executive Independent Women Director Tara Subramaniam was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Feb 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.07b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 13
Third quarter 2026 earnings released: EPS: ₹0.41 (vs ₹3.38 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.41 (down from ₹3.38 in 3Q 2025). Revenue: ₹2.49b (down 15% from 3Q 2025). Net income: ₹92.8m (down 88% from 3Q 2025). Profit margin: 3.7% (down from 26% in 3Q 2025). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 9% per year. Duyuru • Feb 02
Vascon Engineers Limited to Report Q3, 2026 Results on Feb 09, 2026 Vascon Engineers Limited announced that they will report Q3, 2026 results on Feb 09, 2026 Reported Earnings • Nov 11
Second quarter 2026 earnings released: EPS: ₹0.50 (vs ₹0.35 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.50 (up from ₹0.35 in 2Q 2025). Revenue: ₹2.30b (up 15% from 2Q 2025). Net income: ₹114.3m (up 45% from 2Q 2025). Profit margin: 5.0% (up from 3.9% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 23% per year. Duyuru • Nov 04
Vascon Engineers Limited to Report Q2, 2026 Results on Nov 10, 2025 Vascon Engineers Limited announced that they will report Q2, 2026 results on Nov 10, 2025 Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹71.02, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 21x in the Construction industry in India. Total returns to shareholders of 149% over the past three years. New Risk • Sep 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 05
First quarter 2026 earnings released: EPS: ₹0.99 (vs ₹0.43 in 1Q 2025) First quarter 2026 results: EPS: ₹0.99 (up from ₹0.43 in 1Q 2025). Revenue: ₹2.42b (down 12% from 1Q 2025). Net income: ₹224.7m (up 134% from 1Q 2025). Profit margin: 9.3% (up from 3.5% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 04
Vascon Engineers Limited, Annual General Meeting, Sep 24, 2025 Vascon Engineers Limited, Annual General Meeting, Sep 24, 2025. Duyuru • Jul 28
Vascon Engineers Limited to Report Q1, 2026 Results on Aug 04, 2025 Vascon Engineers Limited announced that they will report Q1, 2026 results on Aug 04, 2025 New Risk • May 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Large one-off items impacting financial results. Reported Earnings • May 17
Full year 2025 earnings released: EPS: ₹5.64 (vs ₹3.05 in FY 2024) Full year 2025 results: EPS: ₹5.64 (up from ₹3.05 in FY 2024). Revenue: ₹10.9b (up 3.6% from FY 2024). Net income: ₹1.26b (up 89% from FY 2024). Profit margin: 12% (up from 6.4% in FY 2024). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹44.78, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 21x in the Construction industry in India. Total returns to shareholders of 90% over the past three years. Duyuru • May 09
Vascon Engineers Limited to Report Q4, 2025 Results on May 14, 2025 Vascon Engineers Limited announced that they will report Q4, 2025 results on May 14, 2025 Duyuru • Apr 01
Raju Rathod and Sanjay Phoke agreed to acquire Almet Corporation Limited from Vascon Engineers Limited (NSEI:VASCONEQ) for INR 120 million. Raju Rathod and Sanjay Phoke agreed to acquire Almet Corporation Limited from Vascon Engineers Limited (NSEI:VASCONEQ) for INR 120 million on March 31, 2025. A cash consideration of INR 120.9 million will be paid by the buyer. As part of consideration, INR 120.9 million is paid towards common equity of Almet Corporation Limited.
For the period ending March 31, 2024, Almet Corporation Limited reported total revenue of INR 0. As of March 31, 2024, Almet Corporation Limited reported total common equity of INR 20.8 million.
The expected completion of the transaction is March 31, 2025. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹39.86, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 20x in the Construction industry in India. Total returns to shareholders of 73% over the past three years. Duyuru • Mar 10
Vascon Engineers Limited Launches Redevelopment Project with an Expected Gdv of INR 3000 Million Vascon Engineers Ltd. marks its entry into the Mumbai market with the launch of `Vascon Orchids', a luxury residential project through a redevelopment initiative on Linking Road in Santacruz West. With a 39-year legacy, Vascon has successfully delivered 225+ projects across 30+ cities and 45+ million sq.ft. real estate projects. The project has a total expected Gross Development Value of INR 3000 million of their sell units. Strategically located in the heart of vibrant Linking Road, Santacruz West, this acquisition aligns with the company's growth and diversification goals of expanding its presence in Mumbai. Vascon chose Linking Road not just for its reputation but for its untapped potential. Despite being Mumbai's premier high street, Santacruz West lacked a luxury residence that truly reflected its prestige. Vascon Orchids fills that gap, offering an unparalleled living experience for those who seek
the extraordinary. With a relatively larger land parcel--a rarity in this location--this development introduces an upgraded lifestyle, setting a new benchmark in luxury living. More than just a residential offering, Vascon Orchids represents the arrival on a landmark that redefines upscale living on Linking
Road. Located in prime location of Shastri Nagar, Santacruz West and centred around the theme `high-street living' Vascon Orchids will comprise three wings featuring 2 & 3 BHK homes offering a 62 sell units. The project delivers a blend of luxury, comfort, and convenience in one of Mumbai's most sought- after neighbourhoods. Moreover, residents will have access to a meticulously curated selection of rooftop and ground-level amenities, including Bocce Ball, Cornhole, a fully equipped gymnasium, and much more--ensuring that everything they desire is already within reach. Ensuring seamless connectivity, the project is positioned near the upcoming metro station on SV Road and the Coastal Road Connector, set to land less than 500 meters away--enhancing accessibility to key business hubs and lifestyle destinations across Mumbai. Santacruz West is an upscale neighbourhood in western Mumbai. Its proximity to the international airport and key business districts makes it a hub of activity and growth. The area boasts excellent connectivity via SV Road, the Western Line, the Western Express Highway, and the Bandra-Worli Sea Link, ensuring seamless access to the rest of Mumbai. Additionally, Santacruz West is home to some of India's top educational institutions, vibrant shopping centers, and a wide range of dining and
entertainment options, making it one of the most desirable residential destinations in the city. New Risk • Feb 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.58b (US$98.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₹8.58b market cap, or US$98.9m). Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹38.56, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 22x in the Construction industry in India. Total returns to shareholders of 46% over the past three years. Reported Earnings • Jan 28
Third quarter 2025 earnings released: EPS: ₹3.38 (vs ₹0.84 in 3Q 2024) Third quarter 2025 results: EPS: ₹3.38 (up from ₹0.84 in 3Q 2024). Revenue: ₹2.99b (up 6.5% from 3Q 2024). Net income: ₹756.0m (up 307% from 3Q 2024). Profit margin: 25% (up from 6.6% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 18% per year. Duyuru • Jan 20
Vascon Engineers Limited to Report Q3, 2025 Results on Jan 27, 2025 Vascon Engineers Limited announced that they will report Q3, 2025 results on Jan 27, 2025 Recent Insider Transactions • Dec 13
Group CEO & Whole Time Director recently sold ₹974k worth of stock On the 10th of December, Santosh Sundararajan sold around 17k shares on-market at roughly ₹59.02 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Santosh has been a net seller over the last 12 months, reducing personal holdings by ₹45m. Reported Earnings • Oct 30
Second quarter 2025 earnings released: EPS: ₹0.32 (vs ₹0.94 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.32 (down from ₹0.94 in 2Q 2024). Revenue: ₹2.02b (down 7.0% from 2Q 2024). Net income: ₹70.9m (down 66% from 2Q 2024). Profit margin: 3.5% (down from 9.5% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 28% per year. Duyuru • Oct 23
Vascon Engineers Limited to Report Q2, 2025 Results on Oct 29, 2024 Vascon Engineers Limited announced that they will report Q2, 2025 results on Oct 29, 2024 Duyuru • Sep 23
Vascon Engineers Limited Announces Board and Committee Changes Vascon Engineers Limited informed that Mr. K G Krishnamurthy (DIN: 00012579), Independent Director of the Company has completed his second and final term as an Independent Director of the Company and consequently ceased to be a Director of the Company effective from the close of business hours on September 20, 2024. Consequently, he also ceases to be a Chairmanship of Audit Committee, Nomination and Remuneration Committee and Stakeholder Relationship Committee of the Company. Recent Insider Transactions • Sep 08
Insider recently sold ₹1.4m worth of stock On the 5th of September, Navin Thakur sold around 20k shares on-market at roughly ₹72.50 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹14m. Insiders have been net sellers, collectively disposing of ₹153m more than they bought in the last 12 months. New Risk • Sep 04
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 0% The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (5.9% net profit margin). Significant insider selling over the past 3 months (₹59m sold). Recent Insider Transactions • Aug 22
Insider recently sold ₹1.4m worth of stock On the 19th of August, Sumitra Joshi sold around 20k shares on-market at roughly ₹72.27 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹14m. Insiders have been net sellers, collectively disposing of ₹163m more than they bought in the last 12 months. Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹0.43 (vs ₹0.54 in 1Q 2024) First quarter 2025 results: EPS: ₹0.43 (down from ₹0.54 in 1Q 2024). Revenue: ₹2.79b (up 36% from 1Q 2024). Net income: ₹96.0m (down 19% from 1Q 2024). Profit margin: 3.4% (down from 5.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 14
Vascon Engineers Limited, Annual General Meeting, Sep 20, 2024 Vascon Engineers Limited, Annual General Meeting, Sep 20, 2024. Duyuru • Aug 09
Vascon Engineers Limited to Report Q1, 2025 Results on Aug 14, 2024 Vascon Engineers Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Recent Insider Transactions • Jun 25
Insider recently sold ₹2.2m worth of stock On the 18th of June, Peter Menezes sold around 32k shares on-market at roughly ₹69.98 per share. This transaction amounted to 39% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹30m. Insiders have been net sellers, collectively disposing of ₹122m more than they bought in the last 12 months. Recent Insider Transactions • Jun 15
Insider recently sold ₹2.1m worth of stock On the 11th of June, Navin Thakur sold around 30k shares on-market at roughly ₹68.83 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹30m. Insiders have been net sellers, collectively disposing of ₹114m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹69.24, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 26x in the Construction industry in India. Total returns to shareholders of 228% over the past three years. New Risk • Jun 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.7% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.4% net profit margin). Significant insider selling over the past 3 months (₹37m sold). Recent Insider Transactions • May 31
Insider recently sold ₹928k worth of stock On the 27th of May, Sumitra Joshi sold around 15k shares on-market at roughly ₹64.00 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹30m. Insiders have been net sellers, collectively disposing of ₹114m more than they bought in the last 12 months. Reported Earnings • May 22
Full year 2024 earnings released: EPS: ₹3.05 (vs ₹4.49 in FY 2023) Full year 2024 results: EPS: ₹3.05 (down from ₹4.49 in FY 2023). Revenue: ₹10.6b (up 4.0% from FY 2023). Net income: ₹679.4m (down 30% from FY 2023). Profit margin: 6.4% (down from 9.6% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. Duyuru • May 16
Vascon Engineers Limited to Report Q4, 2024 Results on May 21, 2024 Vascon Engineers Limited announced that they will report Q4, 2024 results on May 21, 2024 Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹71.66, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 26x in the Construction industry in India. Total returns to shareholders of 302% over the past three years. Recent Insider Transactions • Mar 29
Group CEO & Whole Time Director recently sold ₹30m worth of stock On the 27th of March, Santosh Sundararajan sold around 493k shares on-market at roughly ₹60.97 per share. This transaction amounted to 4.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Santosh has been a net seller over the last 12 months, reducing personal holdings by ₹82m. Recent Insider Transactions • Mar 20
Insider recently sold ₹1.2m worth of stock On the 14th of March, Navin Thakur sold around 19k shares on-market at roughly ₹61.96 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹3.5m. Insiders have been net sellers, collectively disposing of ₹131m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹56.07, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 26x in the Construction industry in India. Total returns to shareholders of 218% over the past three years. Recent Insider Transactions • Mar 06
Insider recently sold ₹1.3m worth of stock On the 1st of March, Abhijeet Pimple sold around 16k shares on-market at roughly ₹79.59 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹3.8m. Insiders have been net sellers, collectively disposing of ₹130m more than they bought in the last 12 months. Recent Insider Transactions • Feb 27
Insider recently sold ₹1.6m worth of stock On the 22nd of February, Navin Thakur sold around 20k shares on-market at roughly ₹79.50 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹3.8m. Insiders have been net sellers, collectively disposing of ₹129m more than they bought in the last 12 months. Reported Earnings • Feb 09
Third quarter 2024 earnings released: EPS: ₹0.84 (vs ₹0.75 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.84 (up from ₹0.75 in 3Q 2023). Revenue: ₹2.80b (up 10% from 3Q 2023). Net income: ₹185.6m (up 14% from 3Q 2023). Profit margin: 6.6% (up from 6.4% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 68% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 01
Vascon Engineers Limited to Report Q3, 2024 Results on Feb 07, 2024 Vascon Engineers Limited announced that they will report Q3, 2024 results on Feb 07, 2024 Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹85.86, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 26x in the Construction industry in India. Total returns to shareholders of 497% over the past three years. New Risk • Jan 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (466% cash payout ratio). Share price has been volatile over the past 3 months (7.7% average weekly change). Significant insider selling over the past 3 months (₹49m sold). Recent Insider Transactions • Dec 16
Director of Projects recently sold ₹2.6m worth of stock On the 12th of December, Vivekanand Botre sold around 34k shares on-market at roughly ₹75.70 per share. This transaction amounted to 7.2% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹3.9m. Insiders have been net sellers, collectively disposing of ₹102m more than they bought in the last 12 months. Recent Insider Transactions • Dec 10
Insider recently sold ₹3.8m worth of stock On the 4th of December, Lalitkumar Panpalia sold around 50k shares on-market at roughly ₹76.80 per share. This transaction amounted to 67% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹3.9m. Insiders have been net sellers, collectively disposing of ₹94m more than they bought in the last 12 months. Duyuru • Dec 01
Vascon Engineers Limited has filed a Follow-on Equity Offering in the amount of INR 1.25 billion. Vascon Engineers Limited has filed a Follow-on Equity Offering in the amount of INR 1.25 billion.
Security Name: Shares
Security Type: Common Stock
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Nov 21
Vice President of Technical Service recently sold ₹3.9m worth of stock On the 17th of November, Santosh Pawar sold around 50k shares on-market at roughly ₹77.71 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹9.0m. Insiders have been net sellers, collectively disposing of ₹82m more than they bought in the last 12 months. Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: ₹0.94 (vs ₹1.04 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.94 (down from ₹1.04 in 2Q 2023). Revenue: ₹2.19b (flat on 2Q 2023). Net income: ₹206.6m (down 8.8% from 2Q 2023). Profit margin: 9.4% (down from 10% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has increased by 108% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 31
Vascon Engineers Limited to Report Q2, 2024 Results on Nov 07, 2023 Vascon Engineers Limited announced that they will report Q2, 2024 results on Nov 07, 2023 Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹65.68, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 22x in the Construction industry in India. Total returns to shareholders of 663% over the past three years. Recent Insider Transactions • Sep 08
Insider recently sold ₹1.8m worth of stock On the 4th of September, Abhijeet Pimple sold around 30k shares on-market at roughly ₹60.80 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹9.0m. Insiders have been net sellers, collectively disposing of ₹69m more than they bought in the last 12 months. Duyuru • Aug 25
Vascon Engineers Limited, Annual General Meeting, Sep 26, 2023 Vascon Engineers Limited, Annual General Meeting, Sep 26, 2023, at 10:30 Indian Standard Time. Recent Insider Transactions • Aug 25
President of Finance & Accounts and CFO recently sold ₹9.0m worth of stock On the 23rd of August, Somnath Biswas sold around 150k shares on-market at roughly ₹59.77 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Somnath's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹60.16, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 21x in the Construction industry in India. Total returns to shareholders of 412% over the past three years. Upcoming Dividend • Aug 14
Upcoming dividend of ₹0.25 per share at 1.0% yield Eligible shareholders must have bought the stock before 21 August 2023. Payment date: 07 September 2023. Trailing yield: 1.0%. Lower than top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (0.9%). Duyuru • Aug 10
Vascon Engineers Limited Declares Interim Dividend Vascon Engineers Limited at its board meeting held on August 8, 2023, approved declaration of the 1st Interim Dividend of INR 0.25 per Equity Share on the entire issued, subscribed and paid up capital of the Company of 217,317,111 Equity Shares having face value of INR 10.00 each. Interim Dividend will be paid to those members whose names appear in the Register of Members and as beneficial owner in the records of Depositories as on the Record Date fixed for the purpose i.e. August 21, 2023. New Risk • Aug 09
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 1.0% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (8.3% average weekly change). Significant insider selling over the past 3 months (₹62m sold). Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹52.27, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 20x in the Construction industry in India. Total returns to shareholders of 491% over the past three years. Duyuru • Aug 01
Vascon Engineers Limited to Report Q1, 2024 Results on Aug 08, 2023 Vascon Engineers Limited announced that they will report Q1, 2024 results on Aug 08, 2023 Recent Insider Transactions • Jun 25
Director of Projects recently sold ₹1.1m worth of stock On the 22nd of June, Vivekanand Botre sold around 25k shares on-market at roughly ₹43.40 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹52m. Insiders have been net sellers, collectively disposing of ₹53m more than they bought in the last 12 months. Recent Insider Transactions • Jun 13
Director of Projects recently sold ₹2.7m worth of stock On the 8th of June, Vivekanand Botre sold around 65k shares on-market at roughly ₹41.19 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹52m. Insiders have been net sellers, collectively disposing of ₹52m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹43.42, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 20x in the Construction industry in India. Total returns to shareholders of 343% over the past three years. Recent Insider Transactions • May 21
Group CEO & Whole Time Director recently sold ₹52m worth of stock On the 18th of May, Santosh Sundararajan sold around 1m shares on-market at roughly ₹37.53 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Santosh's only on-market trade for the last 12 months. Buying Opportunity • May 18
Now 21% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be ₹45.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 80%. Reported Earnings • May 16
Full year 2023 earnings released: EPS: ₹4.49 (vs ₹1.76 in FY 2022) Full year 2023 results: EPS: ₹4.49 (up from ₹1.76 in FY 2022). Revenue: ₹10.1b (up 54% from FY 2022). Net income: ₹994.1m (up 183% from FY 2022). Profit margin: 9.8% (up from 5.4% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 80% per year whereas the company’s share price has increased by 75% per year. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹39.17, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 20x in the Construction industry in India. Total returns to shareholders of 414% over the past three years. Duyuru • May 10
Vascon Engineers Limited to Report Q4, 2023 Results on May 15, 2023 Vascon Engineers Limited announced that they will report Q4, 2023 results at 12:08 PM, Indian Standard Time on May 15, 2023 Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: ₹0.75 (vs ₹1.34 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.75 (down from ₹1.34 in 3Q 2022). Revenue: ₹2.54b (up 49% from 3Q 2022). Net income: ₹163.3m (down 43% from 3Q 2022). Profit margin: 6.4% (down from 17% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 30
Vascon Engineers Announces Executive Changes Vascon Engineers Limited at the Board Meeting held on January 30, 2023 approved resignation of Mrs. Vibhuti Darshin Dani who has resigned from the post of Company Secretary & and Key Managerial Personnel ofthe Company for further growth and development in her career with effect from close of working hours of January 31, 2023. Consequent to her resignation, Mrs. Vibhuti Darshin Dani also ceases to be Compliance Officerof the Company. Board takes on record her valuable contribution during her tenure and wish her success for future endeavours. Furthermore, Board has approved appointment of Ms. Sarita Ahuja as Company Secretary andCompliance Officer of the Company with effect from February 01, 2023. Duyuru • Jan 20
Vascon Engineers Limited to Report Q3, 2023 Results on Jan 30, 2023 Vascon Engineers Limited announced that they will report Q3, 2023 results at 12:08 PM, Indian Standard Time on Jan 30, 2023 Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹30.00, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 19x in the Construction industry in India. Total returns to shareholders of 116% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 27% share price gain to ₹40.40, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 19x in the Construction industry in India. Total returns to shareholders of 224% over the past three years. Recent Insider Transactions • Nov 26
Insider recently sold ₹1.1m worth of stock On the 23rd of November, Navin Thakur sold around 34k shares on-market at roughly ₹32.94 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹9.0m more than they bought in the last 12 months. Reported Earnings • Nov 08
Second quarter 2023 earnings released: EPS: ₹1.04 (vs ₹0.19 in 2Q 2022) Second quarter 2023 results: EPS: ₹1.04 (up from ₹0.19 in 2Q 2022). Revenue: ₹2.20b (up 44% from 2Q 2022). Net income: ₹226.6m (up ₹192.4m from 2Q 2022). Profit margin: 10% (up from 2.2% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 32% per year. Duyuru • Nov 02
Vascon Engineers Limited to Report Q2, 2023 Results on Nov 07, 2022 Vascon Engineers Limited announced that they will report Q2, 2023 results on Nov 07, 2022 Duyuru • Sep 30
Vascon Engineers Limited Appoints Sarikaramahalingam Balasubramanian as Non-Executive Independent Director Vascon Engineers Limited at the AGM, the shareholders approved the appointment of Mr. Sarikaramahalingam Balasubramanian as Non-Executive Independent Director for a first term of five years. Recent Insider Transactions • Sep 17
Insider recently sold ₹1.0m worth of stock On the 15th of September, N. Pandiyammal sold around 37k shares on-market at roughly ₹27.80 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹11m more than they bought in the last 12 months. Duyuru • Aug 30
Vascon Engineers Limited, Annual General Meeting, Sep 28, 2022 Vascon Engineers Limited, Annual General Meeting, Sep 28, 2022, at 11:30 Indian Standard Time. Reported Earnings • Aug 03
First quarter 2023 earnings released: EPS: ₹0.49 (vs ₹0.39 loss in 1Q 2022) First quarter 2023 results: EPS: ₹0.49 (up from ₹0.39 loss in 1Q 2022). Revenue: ₹2.03b (up 82% from 1Q 2022). Net income: ₹108.1m (up ₹178.4m from 1Q 2022). Profit margin: 5.3% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 26
Vascon Engineers Limited to Report Q1, 2023 Results on Aug 02, 2022 Vascon Engineers Limited announced that they will report Q1, 2023 results on Aug 02, 2022 Reported Earnings • May 26
Full year 2022 earnings released: EPS: ₹1.76 (vs ₹2.27 loss in FY 2021) Full year 2022 results: EPS: ₹1.76 (up from ₹2.27 loss in FY 2021). Revenue: ₹7.06b (up 40% from FY 2021). Net income: ₹359.2m (up ₹767.4m from FY 2021). Profit margin: 5.1% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Duyuru • May 14
Vascon Engineers Limited to Report Q4, 2022 Results on May 23, 2022 Vascon Engineers Limited announced that they will report Q4, 2022 results on May 23, 2022 Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 15% share price gain to ₹26.05, the stock trades at a trailing P/E ratio of 20.4x. Average trailing P/E is 19x in the Construction industry in India. Total returns to shareholders of 71% over the past three years. 
