Vascon Engineers Ltd

Investor Presentation for November 2020 is here: https://www.bseindia.com/xml-data/corpfiling/AttachHis/a6789d53-9a3b-44e8-b07e-2d0955ac502c.pdf

Some highlights:
-Total order book Rs 1972 Crs
-High amount of govt projects - 75%

  • New sales booking in H1FY21: 42,142 sq ft
  • Expect normalcy to return in H2FY21

Now does the high percentage of govt projects signify a positive or otherwise? My concern is regarding the potential for delay in payments for such projects.

Note to self - Examination of following is required:

The company has been experiencing continuous losses for the past four quarters and profitable quarters are relatively few. Is there any hope for the future?
Continuously pledged shares of promoters - reasons?

I will try to find info on the above (and other issues). I will appreciate any help particularly as I am a novice. Please also point out any errors, or even the direction I should take to dig deeper into the subject.

Thanks
Sandeep