Vascon Engineers bags order worth Rs 37.74 crore; stocks gains nearly 5 per cent

Vascon Engineers Limited announced on Tuesday after the market hours that it has received a work order amounting to Rs 37.74 crore from Transcon-Sheth Creators Private Limited for the construction of composite sale building no. 3 Rehab in Malad (Mumbai).

Reacting to this, the stock of Vascon Engineers today hit the upper circuit of 5 per cent and made an intraday high of Rs 14.32 per share.

The company has a total order book of Rs 1,972 crore in the current financial year.

The company reported a net loss of Rs 9.65 crore in Q2FY21. It had reported a profit of Rs 2.51 crore in Q2FY20. The company reported net sales of Rs 89.36 crore for Q2FY21, an increase of 16.11 per cent as against the net sales of Rs 76.96 crore for Q2FY20.

The stock of Vascon Engineers has recovered by 129.12 per cent from its sharp decline in March 2020. In the last one month, the company has gained nearly 68 per cent.

The stock has a 52-week high and a 52-week low of Rs 18.87 per share and Rs 6.02 per share, respectively. According to BSE data, the stock has a price-to-book ratio of 0.35.

Vascon Engineers Limited is an engineering, procurement & construction company. The company's major activities include real estate development, hospitality, and manufacturing along with a building management system.