Vascon Engineers Drops 5% as Q4 Revenue Falls 34.6% YoY

Shares of Vascon Engineers Limited hit a day low of Rs 37.61 on NSE on 12 May, falling 4.98% intraday, after the company posted a steep revenue decline and sharply compressed margins for the March quarter (Q4FY26).

Revenue for the quarter fell 34.62% year-on-year to Rs 253.08 crore, against Rs 387.08 crore in Q4FY25. The drop in topline flowed through sharply to operating profit, with EBITDA declining 60.77% to Rs 16.52 crore from Rs 42.11 crore a year ago. Margins narrowed to around 6.5% from 11% in the corresponding quarter last year. Net profit fell 83.55% to Rs 5.72 crore.

Vascon disclosed to exchanges that Q4FY25’s net profit of Rs 34.77 crore was supported by an exceptional gain of around Rs 75 crore, which makes the year-on-year comparison steeper than underlying business performance alone would suggest. Strip that out, and the quarterly picture is still weak but less dramatic than the headline numbers imply.

Per the company’s earnings statement, the total order book stood at Rs 2,717 crore, with external EPC contracts accounting for Rs 2,387 crore of that pipeline. FY26 EPC project inflows came in at Rs 762 crore for the full year, giving the firm a base to work from heading into FY27. Exchange filings do not detail related-party transactions for this result.

The stock is down 17.03% year-to-date and has shed 7.50% over the past 12 months. Its 52-week high stands at Rs 74.59, touched on 10 October 2025, against a 52-week low of Rs 26.75 hit on 30 March 2026. At 10:22 am on 12 May, VASCONEQ was trading at Rs 37.61 on the NSE, at the day’s low.

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