Multibagger penny stock under Rs 100 & Rs 1,980 crore order book; Company bags new order worth Rs 262.19 crore from Bridge and Roof Co. India Ltd!

The stock gave multibagger returns of 185 per cent in just 6 months and a whopping 770 per cent in 3 years.

Vascon Engineers Limited informed that the company has received a letter of intent amounting to Rs 262.19 crore (including GST) from Bridge and Roof Co. India Ltd (A Government of India Enterprise). The order includes planning, designing, construction, IT (networking) and maintenance of the Government Medical College at District Kanker, Chhattisgarh under Chhattisgarh Medical Services Corporation Ltd., (Government of Chhattisgarh). The work has been awarded on EPC Basis and will be completed in 24 months.

Earlier, the company received a letter of intent amounting to Rs 352.91 crore (including GST) from Jharkhand State Building Construction Corporation Limited (Government of Jharkhand Undertaking). The order includes for remaining work of the construction of the medical college and the upgradation of the District Hospital at Koderma. The work has been awarded on BOQ Basis and will be completed in 30 months.

Order book: 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).

On Wednesday, shares of Vascon Engineers Ltd gained 1.20 per cent to Rs 75.95 per share from its previous closing of Rs 75.05. The stock traded at an intraday high of Rs 78 and an intraday low of Rs 75.46.

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 over Rs 1,650 crore. The company reported amazing numbers in Quarterly Results (Q1FY24) and annual results (FY23).

The shares of the company have a PE of 16.4x whereas the industry PE is 31x. The stock gave multibagger returns of 185 per cent in just 6 months and a whopping 770 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.

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