Vascon Engineers Limited (VASCONEQ) AI Stock Analysis

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Vascon Engineers Limited

(NSE:VASCONEQ)

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Rating:55Neutral

Price Target:INR 31.00▼(-1.77% Downside)

Action:reiterated

Date:10/17/26

Moderate score driven mainly by financial performance with balance sheet strength tempered by 2026 revenue drop and weak cash flows; mixed technical signals and fair valuation provide secondary support.

Positive Factors

Manageable LeverageManageable leverage gives Vascon a comparatively stronger capital structure and preserves some flexibility to fund projects or absorb operating volatility. Although debt-to-equity increased from FY2025, it remains below earlier levels, limiting balance-sheet strain relative to its historical position.

Negative Factors

Revenue ContractionThe FY2026 revenue decline indicates a meaningful slowdown in project execution, development sales, or both after stronger earlier expansion. Sustained contraction would reduce operating scale, weaken overhead absorption, and make it harder for Vascon to rebuild earnings without renewed order or sales momentum.

Vascon Engineers Limited (VASCONEQ) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 7.28B
Dividend Yield: ―
Average Volume (3M): 52.97K
Price to Earnings (P/E): 25.3
Beta (1Y): 1.74
Revenue Growth: -19.68%
EPS Growth: -79.47%
Country: India
Employees: 751
Sector: General
Sector Strength: 55
Industry: Engineering & Construction

Vascon Engineers Limited Business Overview & Revenue Model

Company Description

Established in 1986 and based in Pune, India, Vascon Engineers Limited is a multifaceted company specializing in engineering, procurement, and construction (EPC) services. The company operates through three core divisions: EPC, Real Estate Developmen...

How the Company Makes Money

Vascon Engineers Limited primarily makes money through two operating models: (1) EPC/construction contracting and (2) real estate development. In the EPC/construction business, it earns revenue by executing projects for clients under construction con...

Vascon Engineers Limited Financial Statement Overview

Summary

Mixed results: revenue declined 15.9% in 2026 with negative operating cash flow, offset by solid equity growth and low debt-to-equity ratio.

Income Statement

55Neutral

Balance Sheet

75Positive

Cash Flow

40Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	9.49B	9.49B	10.78B	10.34B	9.98B	6.51B
Gross Profit	1.07B	838.10M	1.78B	1.93B	2.02B	1.28B
EBITDA	873.60M	871.30M	1.00B	1.05B	1.08B	721.20M
Net Income	489.00M	489.00M	1.30B	668.92M	974.91M	351.86M
Balance Sheet
Total Assets	23.61B	23.61B	21.28B	18.62B	16.49B	14.90B
Cash, Cash Equivalents and Short-Term Investments	2.51B	2.51B	2.34B	349.73M	645.30M	613.57M
Total Debt	3.00B	3.00B	2.06B	1.94B	1.42B	1.65B
Total Liabilities	12.12B	12.12B	10.36B	8.67B	7.25B	6.66B
Stockholders Equity	11.49B	11.49B	10.93B	9.81B	9.12B	8.11B
Cash Flow
Free Cash Flow	-756.60M	-1.48B	-135.90M	-487.83M	617.37M	182.72M
Operating Cash Flow	-729.10M	-1.44B	47.60M	-285.08M	1.04B	332.81M
Investing Cash Flow	-242.20M	-172.10M	680.80M	-118.80M	-319.83M	-126.61M
Financing Cash Flow	427.90M	949.50M	269.00M	53.10M	-441.27M	-221.40M

Vascon Engineers Limited Technical Analysis

Technical Analysis SentimentPositive

Last Price31.56

Price Trends

50DMA31.10Positive

100DMA31.92Negative

200DMA34.30Negative

Market Momentum

MACD0.01Negative

RSI53.50Neutral

STOCH56.70Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VASCONEQ, the sentiment is Positive. The current price of 31.56 is above the 20-day moving average (MA) of 30.78, above the 50-day MA of 31.10, and below the 200-day MA of 34.30, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 53.50 is Neutral, neither overbought nor oversold. The STOCH value of 56.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:VASCONEQ.

Vascon Engineers Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:VASCONEQ against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:DENTA	64Neutral	INR 6.56B	13.72	―	1.02%	-4.18%	-27.85%
IN:ABINFRA	59Neutral	INR 8.04B	36.29	―	0.05%	26.23%	6.65%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:VASCONEQ	55Neutral	INR 7.26B	25.33	―	―	-19.68%	-79.47%
IN:CCCL	51Neutral	INR 4.99B	-32.14	―	―	97.64%	-113.80%
IN:SUPREMEINF	46Neutral	INR 6.79B	0.03	―	―	69.66%	―
IN:OMINFRAL	38Underperform	INR 6.75B	21.15	―	0.68%	-19.68%	47.04%

* General Sector Average

Performance Comparison

IN:VASCONEQ and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:VASCONEQ	Vascon Engineers Limited	31.56	-25.76	-44.94%
IN:ABINFRA	A B Infrabuild Ltd	12.80	-7.14	-35.80%
IN:CCCL	Consolidated Construction Consortium Limited	11.32	-9.71	-46.17%
IN:OMINFRAL	Om Infra Limited	73.09	-38.13	-34.29%
IN:SUPREMEINF	Supreme Infrastructure India Limited	66.68	-28.00	-29.57%
IN:DENTA	Denta Water and Infra Solutions Limited	245.45	-152.72	-38.35%

Vascon Engineers Limited Corporate Events

Vascon Engineers Confirms Continuity as Statutory Auditor Converts to LLP

Oct 16, 2026

Vascon Engineers Limited, a listed player in India’s engineering, construction and real estate development space, serves both infrastructure and property markets while operating under SEBI’s disclosure and corporate governance regime. Its securities...

Vascon Engineers Confirms Fully Reconciled, Demat-Only Share Capital for Q2 FY27

Oct 14, 2026

Vascon Engineers Limited has submitted its Reconciliation of Share Capital Audit Report for the quarter ended September 30, 2026, under Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that the company’...

Vascon Engineers to Host Q1 FY27 Earnings Call on August 14

Aug 10, 2026

Vascon Engineers Limited has scheduled an earnings conference call for investors and analysts on August 14, 2026, at 11:30 a.m. IST to discuss its unaudited financial results and key developments for the quarter ended June 30, 2026. The call, to be l...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 17, 2026

Vascon Engineers Limited AI Stock Analysis