Multibagger penny stock under Rs 100 & Rs 2,845 crore order book: This civil construction company bags new order worth Rs 416 crore from Capgemini Technology Services India Ltd!
The stock gave multibagger returns of 160 per cent in just 1 year and a whopping 500 per cent in 3 years.
Vascon Engineers Limited informed that the company has received a letter of intent amounting to Rs 416 crore (excluding GST) from Capgemini Technology Services India Ltd. The order includes construction contracting works for the Chennai Sipcot Base Built Construction Project Chennai, Tamil Nadu-603103. The work has been awarded on EPC Basis and will be completed in 30 months.
Earlier November 2023, the company received a letter of intent amounting to Rs 356.78 crore (excluding GST) from Pimpri Chinchwad, Municipal Corporation - Municipal Secretary's Department, Pune, Maharashtra. The order includes the construction of a general hospital building for PCMC Hospital in Moshi, Pimpri-Chinchwad, Pune (Maharashtra). The work has been awarded on item rate basis and will be completed in 36 months.
Order book: As of September 30, 2023, the company order book stands at Rs 2,845 crore (Forming a healthy order book of 4.3x FY23 EPC revenues).
Today, shares of Vascon Engineers Ltd gained 1.78 per cent to Rs 86.25 per share from its previous closing of Rs 8474. The stock traded at an intraday high of Rs 87.70 and an intraday low of Rs 83.65.
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 1,900 crore. The company reported amazing numbers in Quarterly Results (Q2FY24) and annual results (FY23).
The shares of the company have a PE of 19x whereas the industry PE is 28x. The stock gave multibagger returns of 160 per cent in just 1 year and a whopping 500 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
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