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Vascon Engineers

₹69.2 2.9 | 4.4%

Market Cap ₹1531 Cr.

Stock P/E 15.0

P/B 1.6

Current Price ₹69.2

Book Value ₹ 43.5

Face Value 10

52W High ₹93.1

Dividend Yield 0%

52W Low ₹ 32.1

Vascon Engineers Research see more...

Overview Inc. Year: 1986Industry: Engineering - Construction

Vascon Engineers Ltd is an engineering, procurement and construction (EPC) corporation. The Company's primary activities consist of real estate development, hospitality, and manufacturing and building control system (BMS). The Company's segments consist of EPC, Real Estate Development, Hotel and Manufacturing & BMS. The EPC segment includes the construction of residential, business, industrial and different buildings. The Real Estate Development section includes the improvement of residential, hotel premises and commercial park. The Hotel section includes the hoteliering activities. The Manufacturing & BMS segment is engaged within the manufacturing of clean room partition and building control system. It undertakes the whole spectrum of real estate improvement activities, including identification and acquisition of land, income and advertising of initiatives, and operation of the finished tasks. It has presence in Chennai, Ludhiana, Mumbai, Pune, Bangalore, Uttar Pradesh, and Goa.

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Vascon Engineers Share Price

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Vascon Engineers Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 153 171 218 201 217 254 327 204 217 280
Other Income 2 43 5 2 3 2 5 4 2 2
Total Income 155 213 223 203 220 256 332 208 219 282
Total Expenditure 148 176 198 185 206 233 278 190 207 253
Operating Profit 7 37 25 18 14 23 54 18 13 29
Interest 6 5 7 4 3 2 3 3 4 5
Depreciation 3 3 3 2 3 3 3 3 4 4
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -2 29 16 11 7 18 48 12 5 20
Provision for Tax 1 0 3 1 0 1 2 0 1 1
Profit After Tax -3 29 12 10 7 17 46 12 5 19
Adjustments 7 -1 -1 0 15 -0 4 0 16 -0
Profit After Adjustments 3 29 11 11 23 16 50 12 21 19
Adjusted Earnings Per Share 0.2 1.3 0.5 0.5 1 0.8 2.3 0.5 1 0.8

Vascon Engineers Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 708 624 623 588 490 539 524 521 507 657 1019 1028
Other Income 29 19 15 27 58 38 37 22 12 53 11 13
Total Income 736 643 638 615 548 577 561 543 519 710 1030 1041
Total Expenditure 680 610 717 551 496 531 516 468 520 634 902 928
Operating Profit 56 33 -79 64 52 46 45 75 -0 76 129 114
Interest 37 44 31 40 34 26 27 20 27 25 13 15
Depreciation 21 19 22 15 16 14 13 15 12 11 12 14
Exceptional Income / Expenses -6 0 -4 0 0 0 0 0 0 0 0 0
Profit Before Tax -7 -30 -136 8 3 5 4 40 -40 40 103 85
Provision for Tax 10 13 8 -1 1 0 -1 0 0 4 4 4
Profit After Tax -17 -43 -145 9 1 5 5 40 -40 36 99 82
Adjustments 0 -1 1 -1 1 1 2 -0 -1 -1 -2 20
Profit After Adjustments -17 -44 -144 8 2 6 7 40 -41 35 98 102
Adjusted Earnings Per Share -1.8 -4.9 -15.9 0.5 0.1 0.3 0.4 2.2 -2.2 1.6 4.5 4.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 55% 25% 14% 4%
Operating Profit CAGR 70% 20% 23% 9%
PAT CAGR 175% 35% 82% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 117% 63% 38% 12%
ROE Average 12% 4% 3% -1%
ROCE Average 12% 6% 5% 3%

Vascon Engineers Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 713 660 518 626 634 668 690 734 699 811 912
Minority's Interest 12 15 11 13 12 11 9 9 10 13 13
Borrowings 46 77 30 100 133 91 140 98 43 17 64
Other Non-Current Liabilities 5 5 3 28 27 17 12 11 9 11 7
Total Current Liabilities 700 716 789 580 509 528 472 495 548 631 648
Total Liabilities 1477 1473 1352 1347 1315 1315 1323 1349 1310 1483 1643
Fixed Assets 205 188 189 116 109 99 95 90 83 79 102
Other Non-Current Assets 307 375 309 331 277 281 243 244 226 228 267
Total Current Assets 965 910 854 900 929 935 985 1015 1001 1177 1270
Total Assets 1477 1473 1352 1347 1315 1315 1323 1349 1310 1483 1643

Vascon Engineers Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 34 31 30 54 39 27 19 47 23 27 25
Cash Flow from Operating Activities 126 -87 77 38 28 10 56 38 70 33 104
Cash Flow from Investing Activities -13 -13 8 -21 -23 6 -2 -27 6 -13 -32
Cash Flow from Financing Activities -116 100 -63 -26 -16 -24 -26 -34 -72 -22 -44
Net Cash Inflow / Outflow -3 -0 23 -9 -12 -8 28 -24 4 -2 28
Closing Cash & Cash Equivalent 31 30 52 45 27 19 47 23 27 25 53

Vascon Engineers Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) -1.85 -4.86 -15.88 0.52 0.12 0.32 0.39 2.23 -2.25 1.62 4.49
CEPS(Rs) 0.39 -2.71 -13.49 1.53 1.01 1.09 1.05 3.07 -1.55 2.15 5.12
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 78.89 72.81 56.65 38.79 37.69 37.9 38.14 40.36 37.75 36.94 41.47
Core EBITDA Margin(%) 3.86 2.2 -15.18 6.26 -1.13 1.43 1.51 10.16 -2.52 3.46 11.53
EBIT Margin(%) 4.22 2.3 -16.92 8.19 7.4 5.8 5.99 11.57 -2.45 9.92 11.44
Pre Tax Margin(%) -1.02 -4.76 -21.91 1.35 0.54 0.93 0.81 7.64 -7.87 6.14 10.13
PAT Margin (%) -2.41 -6.92 -23.25 1.57 0.24 0.86 1.01 7.63 -7.95 5.47 9.75
Cash Profit Margin (%) 0.49 -3.91 -19.66 4.19 3.4 3.51 3.57 10.51 -5.56 7.11 10.92
ROA(%) -1.14 -2.93 -10.25 0.68 0.09 0.35 0.4 2.97 -3.03 2.57 6.36
ROE(%) -2.36 -6.3 -24.7 1.62 0.19 0.72 0.79 5.68 -5.73 4.82 11.67
ROCE(%) 2.81 1.41 -11.25 5.51 4.07 3.38 3.33 6.24 -1.31 6.93 11.58
Receivable days 135.9 156.01 163.09 165.86 171.14 145.1 141.81 134.06 124.27 90.75 68.06
Inventory Days 189.67 206.99 192.9 226.79 323.09 311.5 338.37 343.72 338.48 270.52 176.7
Payable days 114.96 148.07 142.39 175.87 190.81 185.76 187.83 210.91 200.73 183.38 148.28
PER(x) 0 0 0 47.66 315.53 102.91 39.61 3.36 0 14.5 5.52
Price/Book(x) 0.38 0.33 0.34 0.64 1 0.88 0.4 0.19 0.48 0.64 0.6
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.75 0.84 0.72 1.02 1.72 1.49 0.86 0.61 0.92 0.87 0.55
EV/Core EBITDA(x) 9.49 15.88 -5.67 9.45 16.07 17.53 10.08 4.25 -1286.11 7.51 4.39
Net Sales Growth(%) -0.63 -11.83 -0.19 -5.6 -16.61 9.98 -2.77 -0.61 -2.69 29.59 55.19
EBIT Growth(%) -56.16 -52.03 -835.3 145.73 -23.71 -14.63 0.13 91.8 -120.65 623.84 79.01
PAT Growth(%) -210.08 -153.36 -235.2 106.36 -86.86 284.39 13.48 652.97 -201.37 189.17 176.78
EPS Growth(%) -224.59 -162.7 -226.94 103.3 -77.12 169.7 19.16 478.34 -200.89 172.28 176.37
Debt/Equity(x) 0.43 0.55 0.65 0.43 0.43 0.42 0.37 0.36 0.31 0.2 0.15
Current Ratio(x) 1.38 1.27 1.08 1.55 1.82 1.77 2.09 2.05 1.83 1.87 1.96
Quick Ratio(x) 0.88 0.78 0.71 0.81 0.94 0.88 1.03 1.08 0.99 1.05 1.23
Interest Cover(x) 0.81 0.33 -3.39 1.2 1.08 1.19 1.16 2.95 -0.45 2.63 8.72
Total Debt/Mcap(x) 1.11 1.68 1.93 0.67 0.43 0.48 0.93 1.92 0.64 0.31 0.25

Vascon Engineers Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 31.99 31.99 31.99 31.99 32.2 32.2 32.2 32.2 31.62 31.62
FII 0.03 0.16 0.02 0.15 0.4 0.22 0.51 0.9 0.11 0.89
DII 0 0 0 0 0 0 0.11 0.09 0.15 0.15
Public 67.99 67.85 68 67.86 67.4 67.57 67.18 66.81 68.12 67.34
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 81% CAGR over last 5 years
  • Debtor days have improved from 183.38 to 148.28days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 31.62%.
  • Company has a low return on equity of 4% over the last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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