Vascon Engineers bags ₹131 crore construction order from Reliance; details here

Small-cap stock Vascon Engineers will be in focus of stock market investors on Tuesday, May 19, after the company bagged a ₹131 crore construction order from Reliance Industries, according to an exchange filing.

In the NSE filing, the company disclosed that Reliance Industries has awarded a contract holding value of around ₹131.58 crore, excluding the goods and services tax (GST), for the construction of four buildings at its Jamnagar plant, part of its expansion plans for the facility.

“We are pleased to inform that Vascon Engineers Limited has received Letter of Intent amounting to ₹131.58 crore [One Hundred & Thirty One Crore Point Fifty Eight Lakh (excluding GST)] from Reliance Industries Limited for ‘construction of 04 Nos G+12 FLL Type Buildings for Sector-3 at RG Expansion Jamnagar,” the company informed the stock exchanges.

The filing also highlighted that the construction order is set to be completed within 19 months from the date of order receipt.

Vascon Engineers Q4 results

Earlier this month, Vascon Engineers’ consolidated net profit after tax (PAT) dropped 83% to ₹5.72 crore in the March quarter, compared year-on-year with ₹34.77 crore in the same period a year ago.

The company’s revenue from core operations dropped 34% year-on-year to ₹253 crore in the fourth quarter, compared with ₹387 crore in the same period a year ago, as per the exchange filing.

The company’s earnings per share (EPS) reduced to ₹0.25 apiece, compared to ₹1.54 per share in the same quarter of the previous financial year.

On the segmental level, Vascon Engineers’ EPC (engineering, procurement and construction) business revenues tanked nearly 30% to ₹240 crore in the fourth quarter, compared to ₹343 crore in the same period a year ago.

While the company’s real estate development segment revenues dropped 72% to ₹12 crore, from ₹43 crore at the year-ago levels.

Vascon Engineers share price

Vascon Engineers' share price closed 3.6% lower at ₹32.93 after Monday’s trading session, compared to ₹34.16 at the previous market close, according to NSE data. The company announced its order update after market hours on May 18.

Shares of Vascon Engineers have delivered more than 109% returns in the last five years, but the company’s stock has lost over 8% in the last three years and has dropped 33% in the past one year.

So far in 2026, the company’s stock has lost 27% year to date and is down 14% in the past one month. Vascon Engineers' shares were trading 16% lower in the last five market sessions on the Indian stock market.

Vascon Engineers shares have surged to their 52-week high of ₹74.59 on October 10, 2025, while the 52-week low was at ₹26.75 on March 30, 2026, according to the exchange data. The company’s market capitalisation (M-Cap) was at ₹764.60 crore as of the stock market close on Monday, May 18.