Valecha Engineering swung to a loss for the quarter ended June 2014. During the quarter, the company reported a loss of Rs 4.26 million compared with a profit of Rs 34.69 million in the same quarter last year. Net sales for the quarter declined marginally 3.30% to Rs 1,491.86 million, compared with Rs 1,542.74 million for the prior year period.

Valecha Engineering (VEL) which is promoted by Valecha Brothers under a partnership firm, was incorporated in 1977, as a private limited company in the name of Valecha Bros. (E.C.).. The company changed its status from private to public limited under the name of Valecha Bros.(E.C) and further on 23rd December 1993 changed its name to Valecha Engineering. Within a short span of 20-25 years recognition came in the form of qualification of Highest Class of Contractors. The company provides engineering services to its customers. It is also engaged in power generation and real estate business.

Shares of the company declined Rs 3.55, or 4.94%, to settle at Rs 68.35. The total volume of shares traded was 7,045 at the BSE (Thursday).