Rs 1,980 crore order book: This civil construction company receives order worth Rs 605.65 crore from Bihar Medical Services & Infrastructure Corporation Ltd!

The stock gave multibagger returns of 110 per cent in just 6 months whereas BSE Sensex Index is up by 9.73 per cent.

Vascon Engineers Limited informed that the company has received a letter of acceptance amounting to Rs 605.65 crore (including GST) from Bihar Medical Services & Infrastructure Corporation Limited (A Government of Bihar undertaking),

The order includes the construction of Lohia Medical College & Hospital including the hospital and residential building, Supaul. The work has been awarded on an EPC basis and will be completed within 36 months from LOA.

On Thursday, one of the Top Gainers on BSE, shares of Vascon Engineers Ltd jumped 9 per cent to an intraday high and a new 52-week high of Rs 65.57 per share from its previous closing of Rs 60.16. At the closing bell, shares of the company were trading at Rs 61.92 per share, up 2.93 per cent with a spurt in volume by more than 2.95 times on BSE.

Vascon Engineers Ltd., established in 1986, is a construction engineering company in India with a presence in the real estate business having an asset-light model and clean room partition manufacturing business.

Talking about the financials, Vascon Engineers has a market cap of Rs 1,346 crore. The company reported amazing numbers in Quarterly Results (Q1FY24) and annual results (FY23). As of June 30, 2023, the company order book stands at Rs 1,980 crore (Forming a healthy order book of 3.02x FY23 EPC revenues).

The shares of the company have a PE of 13.4x whereas the industry PE is 30.1x. The stock gave multibagger returns of 110 per cent in just 6 months whereas BSE Sensex Index is up by 9.73 per cent. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.