Vascon Engineers Board Approves FY26 Audited Results, Announces Key Leadership Changes
Vascon Engineers held its board meeting on May 11, 2026, approving standalone and consolidated audited financial results for FY26. Standalone revenue from operations stood at Rs. 94,853 Lakhs and net profit at Rs. 4,888 Lakhs, compared to Rs. 1,07,524 Lakhs and Rs. 12,710 Lakhs respectively in FY25. The board also approved key leadership changes including elevation of Mr. Siddharth Vasudevan Moorthy as Chairman, appointment of Mr. Divya Maneklal Shah as Independent Director, re-appointment of Mr. S. Balasubramanian, and designation of Mr. Raveesh Rao as Senior Management Personnel, with all committees reconstituted effective May 15, 2026.
*this image is generated using AI for illustrative purposes only.
Vascon Engineers held its Board of Directors meeting on May 11, 2026, approving the standalone and consolidated audited financial results for the quarter and year ended March 31, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 2:00 PM and concluded at 4:00 PM. In addition to the financial results, the board transacted several significant governance matters, including leadership changes and committee reconstitutions.
Financial Performance: FY26 Results
The company reported its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The key financial highlights are presented below:
| Metric: | Standalone FY26 | Standalone FY25 | Consolidated FY26 | Consolidated FY25 |
|---|---|---|---|---|
| Revenue from Operations (Rs Lakhs): | 94,853 | 1,07,524 | 94,929 | 1,07,790 |
| Total Income (Rs Lakhs): | 98,368 | 1,08,774 | 98,448 | 1,09,040 |
| Total Expenses (Rs Lakhs): | 91,870 | 1,01,279 | 91,864 | 1,01,478 |
| Profit Before Tax – Continuing Ops (Rs Lakhs): | 6,498 | 14,974 | 6,508 | 14,919 |
| Net Profit for the Year (Rs Lakhs): | 4,888 | 12,710 | 4,890 | 13,025 |
| Total Comprehensive Income (Rs Lakhs): | 4,950 | 12,757 | 4,952 | 13,028 |
| Basic EPS – Continuing Ops (Rs): | 2.15 | 5.67 | 2.15 | 5.64 |
| Diluted EPS – Continuing Ops (Rs): | 2.15 | 5.67 | 2.15 | 5.64 |
Segment Performance
Vascon Engineers operates across two primary business segments — Engineering, Procurement and Construction (EPC) and Real Estate Development. The segment-wise revenue and results for the year ended March 31, 2026 are summarised below:
| Segment: | Standalone FY26 (Rs Lakhs) | Standalone FY25 (Rs Lakhs) | Consolidated FY26 (Rs Lakhs) | Consolidated FY25 (Rs Lakhs) |
|---|---|---|---|---|
| EPC Revenue: | 91,641 | 1,00,505 | 91,641 | 1,00,721 |
| Real Estate Development Revenue: | 3,212 | 7,019 | 3,288 | 7,069 |
| Total Segment Revenue: | 94,853 | 1,07,524 | 94,929 | 1,07,790 |
| EPC Segment Results: | 12,198 | 13,966 | 12,205 | 13,983 |
| Real Estate Segment Results: | 316 | 977 | 315 | 976 |
Balance Sheet Highlights
The standalone and consolidated balance sheet positions as at March 31, 2026 are outlined below:
| Parameter: | Standalone FY26 (Rs Lakhs) | Standalone FY25 (Rs Lakhs) | Consolidated FY26 (Rs Lakhs) | Consolidated FY25 (Rs Lakhs) |
|---|---|---|---|---|
| Total Assets: | 2,33,848 | 2,12,551 | 2,36,123 | 2,12,845 |
| Total Non-Current Assets: | 34,957 | 38,924 | 34,970 | 38,942 |
| Total Current Assets: | 1,98,891 | 1,73,627 | 2,01,153 | 1,73,903 |
| Equity Share Capital: | 23,170 | 22,629 | 23,170 | 22,629 |
| Total Non-Current Liabilities: | 18,069 | 11,499 | 18,150 | 11,499 |
| Total Current Liabilities: | 1,00,962 | 91,800 | 1,03,091 | 92,064 |
| Equity Attributable to Owners: | 1,14,817 | 1,09,252 | 1,14,882 | 1,09,282 |
Cash Flow Summary
The standalone and consolidated cash flow statements for the year ended March 31, 2026 are presented below:
| Particulars: | Standalone FY26 (Rs Lakhs) | Standalone FY25 (Rs Lakhs) | Consolidated FY26 (Rs Lakhs) | Consolidated FY25 (Rs Lakhs) |
|---|---|---|---|---|
| Net Cash from Operating Activities: | (12,419) | (180) | (12,249) | 476 |
| Net Cash from Investing Activities: | (1,721) | 7,459 | (1,721) | 6,808 |
| Net Cash from Financing Activities: | 7,572 | 2,689 | 7,359 | 2,690 |
| Net Cash Inflow / (Outflow): | (6,568) | 9,968 | (6,611) | 9,974 |
| Cash & Equivalents – Opening: | 11,420 | 1,452 | 11,483 | 1,509 |
| Cash & Equivalents – Closing: | 4,852 | 11,420 | 4,887 | 11,483 |
Leadership and Board Changes
The board approved several significant governance and leadership changes effective May 15, 2026:
| Change: | Details |
|---|---|
| Elevation – Chairman: | Mr. Siddharth Vasudevan Moorthy (DIN: 02504124) elevated as Chairman (Promoter and Managing Director) w.e.f. May 15, 2026 |
| Re-appointment – Independent Director: | Mr. Sankaramahalingam Balasubramanian (DIN: 06622735) re-appointed for a second and final term of 5 years from November 26, 2026 to November 25, 2031, subject to shareholder approval |
| New Appointment – Independent Director: | Mr. Divya Maneklal Shah (DIN: 11707687) appointed as Additional Director (Non-Executive and Independent) for a first term of 5 years from May 15, 2026 to May 14, 2031, subject to shareholder approval |
| Cessation – Independent Director: | Mr. Mukesh Satpal Malhotra (DIN: 00129504) completes his second and final term as Independent Director on May 16, 2026 |
| Senior Management Designation: | Mr. Raveesh Rao designated as Chief Executive Officer – Real Estate and Senior Management Personnel w.e.f. May 15, 2026 |
Consequent to the change in board composition, all board committees were reconstituted with effect from May 15, 2026. The Audit Committee will be chaired by Mr. S. Balasubramanian, the Nomination and Remuneration Committee by Ms. Tara Subramaniam, the Stakeholders Relationship Committee by Ms. Sowmya Iyer, and the Corporate Social Responsibility Committee by Mr. Siddharth Vasudevan Moorthy.
Auditor's Report and Key Notes
The standalone and consolidated financial results were audited by Sharp & Tannan Associates, Chartered Accountants (Firm Reg. No. 109983W), represented by CA Pramod Bhise (Membership No. F047751). The auditors issued an unmodified opinion on both standalone and consolidated financial statements. An emphasis of matter was drawn regarding the company's divestment of its entire shareholding in Almet Corporation Limited under a Share Transfer Agreement dated March 31, 2025. Due to a dispute among the transferees, the agreement has been kept in abeyance, and the matter remains under review.
Notably, during the quarter ended March 2026, Vascon Engineers acquired a 100% stake in Kanchi Properties Private Limited, which consequently became a wholly owned subsidiary with effect from March 31, 2026. Pre-acquisition reserves of the subsidiary amounting to Rs. 33.45 Lakhs were recognised as Capital Reserve in the Consolidated Financial Statements. Additionally, the company recognised an incremental employee benefit expense of Rs. 59.02 Lakhs during the reporting period, arising from plan amendments related to the Government of India's notification of four Labour Codes on November 21, 2025. In the quarter ended June 2025, the company entered into a Share Purchase Agreement with M/s. Samhi Hotels Limited to sell its investment in optionally convertible redeemable debentures of Ascent Hotels Private Limited for a consideration of Rs. 45 Crs, recording a profit from the sale of investment of Rs. 17.50 Crores (net of cost of investment and other direct expenses).
The intimation was issued by Neelam Piyush Pipada, Company Secretary and Compliance Officer (M No. A31721), on behalf of Vascon Engineers Limited, from its registered and corporate office at Vascon Weikfield Chambers, Pune-Nagar Road, Pune.
Historical Stock Returns for Vascon Engineers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.59% | -5.07% | -16.04% | -33.82% | -40.85% | +49.32% |
How will Mr. Siddharth Vasudevan Moorthy's elevation as Chairman-MD and the appointment of a dedicated Real Estate CEO impact Vascon's strategic priorities and capital allocation between EPC and Real Estate segments going forward?
Given the significant decline in net profit from Rs. 12,710 lakhs in FY25 to Rs. 4,888 lakhs in FY26 alongside negative operating cash flows of Rs. 12,419 lakhs, what measures is management likely to take to restore profitability and improve working capital efficiency in FY27?
With the Almet Corporation Limited divestment still in abeyance due to a transferee dispute, what is the potential financial and legal risk exposure for Vascon Engineers if the Share Transfer Agreement is ultimately rescinded or litigated?
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