Stock below Rs 50: This small-cap stock announces robust results. Do you own it?

The scrip witnessed a massive spurt in volume

On Wednesday, shares of Vascon Engineers surged more than 1.8 per cent to trade on intraday high of Rs 39.39. The scrip witnessed a massive spurt in volume.  

In Q4FY23, the company’s revenue surged more than 52 per cent from last year’s same quarter to Rs 331.08 crore. The EBITDA level of the company stood at Rs 57.97 crore, witnessing a jump of more than 146 per cent from March 2022 quarter. The net profit of the company shot up by more than 358 per cent from corresponding quarter last year to Rs 49.62 crore. The company’s order book stood at Rs 2127 crore in F23. The order book has grown 2X from FY19 with an improving contribution from the government sector.   

On March 23, 2023, the company informed the exchange that it has received letter of acceptance amounting to Rs 158.09 crore from Superintending Engineer PMGSY Circle, U.P.P.W.D, Uttar Pradesh.  

The company continues to receive additional orders as it had also received letter of acceptance amounting to Rs 95.92 crore from Pune Metropolitan Region Development Authority, Pune for construction of residential quarters along with welfare complex.   

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Vascon Engineers Ltd, established in 1986, is a construction engineering company in India with presence in real estate business having an asset light model and Clean Room Partition manufacturing business. The company has executed over 200 projects with a construction area of over 50 Mn Sq Ft.  

The stock has shown decent price action as it has gained more than 60 per cent in just 1 year. Keep a close eye on this trending stock.