Vectras Enprocon Ltd. is a Gujarat-based Engineering, Procurement and Construction (EPC) company operating in the midstream and downstream segments of the Oil & Gas industry. The company specializes in laying pipeline networks, building combined stations, and constructing related facilities across multiple states in India.
Business Verticals:
The company has developed strong capabilities in designing, engineering, procuring, constructing, testing, and commissioning Oil & Gas pipelines and stations. It has completed over 3,34,000 inch dia piping, 785 inch-kilometer pipelines, and 4 combined station projects.
The company serves both public and private oil and gas companies and maintains ISO certifications for quality, safety, environmental, and instrumentation standards.
As of September 30, 2026, the company had 990 employees across multiple divisions.
Competitive Strengths
Vectras Enprocon Ltd.’s revenue increased by 49% and profit after tax (PAT) rose by 52% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 30 Sep 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 90.91 | 74.94 | 46.50 | 21.47 |
| Total Income | 72.20 | 119.90 | 80.53 | 54.37 |
| Profit After Tax | 9.10 | 15.43 | 10.17 | 5.81 |
| EBITDA | 14.54 | 24.01 | 15.05 | 8.67 |
| NET Worth | 46.85 | 37.75 | 22.32 | 12.15 |
| Reserves and Surplus | 31.85 | 22.75 | 19.82 | 9.65 |
| Total Borrowing | 31.36 | 22.21 | 11.87 | 4.16 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Ravita Engineering Services Ltd. | SME | ₹116.05 Cr | ₹112 | 10.92 | ₹113.70 | +1.52% | ₹108.60 |
| Sai Urja Indo Ventures Ltd. | SME | ₹24.95 Cr | ₹113 | 20.96 | ₹140.45 | +24.29% | ₹129.55 |
| Infrax Renewable Ltd. | SME | ₹40.88 Cr | ₹104 | 11.19 | ₹105.50 | +1.44% | ₹123.55 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment / prepayment, in full or part, of certain outstanding borrowings availed by Company | 14.00 |
| 2 | To Meet Working Capital Requirements of Company | 20.00 |
| 3 | General Corporate Purposes | |
| Total | 34.00 |
| KPI | Sep 30, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 21.52% | 51.39% |
| ROCE | 19.69% | 48.37% |
| Debt/Equity | 0.67 | 0.59 |
| RoNW | 21.52% | 51.39% |
| PAT Margin | 12.65% | 12.88% |
| EBITDA Margin | 20.21% | 20.04% |
| NAV | 31.23 | 25.17 |
| P/B (x) | 3.36 | 4.17 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 10.29 | 9.55 |
| P/E (x) | 10.2 | 10.99 |
| IPO Date | 30 Oct to 3 Nov, 2026 |
| Listing Date | Fri, Nov 6, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹99 to ₹105 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 50,52,000 shares (agg. up to ₹53 Cr) |
| Reserved for Market Maker |
2,53,200 shares
(agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 38,02,800 shares (agg. up to ₹40 Cr) |
| Offer for Sale | 9,96,000 shares of ₹10 (agg. up to ₹10 Cr) |
| Net Offered to Public | 47,98,800 shares (agg. up to ₹50 Cr) |
| Share Holding Pre Issue | 1,50,00,000 shares |
| Share Holding Post Issue | 1,90,56,000 shares |
The promoters of the company are Naynesh Kanubhai Patel and Maheshkumar Gopalbhai Patel.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 73.49% |
As per our analysis and Based on the information we have, this is the output.
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Last Updated on October 30, 2026 Vectras Enprocon Ltd. IPO Vectras Enprocon Ltd. is a Gujarat-based Engineering, Procurement and Construction (EPC) company operating in the midstream and downstream segments of
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