Update on Audited Financial Results for the quarter and year ended March 31, 2026
VASCONEQ · price
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Vascon Engineers reported audited standalone revenue of Rs 94,853 lakhs for FY26 vs Rs 1,07,524 lakhs in FY25 — a revenue decline of about 12% YoY. Standalone PAT fell sharply to Rs 4,888 lakhs from Rs 12,710 lakhs, down ~62%, impacted by the prior year including Rs 7,479 lakhs in exceptional profit on sale of investments. EBITDA margin compressed significantly from ~14% to ~7%. Operating cash flow turned sharply negative at Rs -12,419 lakhs vs Rs -180 lakhs YoY, driven by large working capital increases in inventories and trade receivables. The auditor issued an unmodified (clean) opinion but included an Emphasis of Matter regarding the Almet Corporation Limited divestment being held in abeyance due to a dispute among transferees. Board-level changes include elevation of Mr. Siddharth Vasudevan Moorthy as Chairman (Promoter and Managing Director), new appointments of two Independent Directors, and reconstitution of all Board committees.
The stock faces pressure from a steep PAT decline, revenue contraction, and negative operating cash flows indicating liquidity stress. The Almet divestment dispute adds contingent risk. However, clean audit opinion and new leadership structure may provide near-term stability.