VA Tech Wabag Limited

NSE: WABAG · Other Utilities

52W Range₹1,033 ₹2,254

Snapshot

Unlock VA Tech Wabag Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

VA Tech Wabag Limited is a multinational company specialising in the design, construction, and operational management of water and wastewater treatment plants. It provides comprehensive solutions for municipal and industrial sectors, including desalination, water recycling, and sludge treatment.

Business Model

The company operates through an engineering, procurement, and construction (EPC) model alongside long-term operation and maintenance (O&M) contracts. It generates revenue by delivering turnkey water infrastructure projects and providing ongoing technical services to industrial and municipal clients.

Growth Outlook

Growth is driven by increasing global demand for water security, industrial water recycling, and stringent environmental regulations regarding wastewater discharge. The company is well-positioned to capitalise on large-scale infrastructure projects in both domestic and international markets.

Key Risks

  • Project Execution Risk. Delays in large-scale infrastructure projects due to regulatory hurdles or site-specific challenges can adversely impact profitability.
  • Working Capital Intensity. The EPC business model requires significant upfront capital and is subject to payment delays from government or municipal clients.
  • Geopolitical and Currency Risk. Operating in international markets exposes the company to foreign exchange volatility and geopolitical instability in project regions.
  • Competitive Bidding. The water treatment sector is highly competitive, which may lead to margin pressure during the tender and bidding process.

Price

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Key Metrics

REVENUE

₹4,678 Cr

TTM · consolidated

+42.0%YoY

NET PROFIT

₹436 Cr

TTM · consolidated

+47.8%YoY

EPS

₹73.10

TTM · consolidated

+53.8%YoY

RETURN ON EQUITY

19.4%

TTM · consolidated

+3.9 ppYoY

RETURN ON CAPITAL EMPLOYED

23.5%

TTM · consolidated

+5.2 ppYoY

P/E

28.1x

Q4 FY26 · consolidated

28.1 vs 68.9x5Y avg

EV/EBITDA

18.1x

Q4 FY26 · consolidated

18.1 vs 38.5x5Y avg

EBITDA MARGIN

14.5%

TTM · consolidated

+0.3 ppYoY

NET PROFIT MARGIN

9.0%

Q4 FY26 · consolidated

+0.4 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · consolidated

-0.08xYoY

Peers · Other Utilities

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
VA Tech Wabag LimitedWABAG
7,58228.1018.0542.0%14.5%19.4%23.5%+40.5%
Ion Exchange (India) LimitedIONEXCHANG
4,88736.2118.976.5%10.2%11.5%13.7%-23.2%
Enviro Infra Engineers Ltd.EIEL
2,56121.7513.6327.9%17.9%23.8%-19.3%
EMSEMSLIMITED
1,58826.5616.65-23.0%20.8%9.2%13.0%-28.9%
Antony Waste hanAWHCL
1,19216.996.7612.8%22.4%13.5%11.7%-31.7%
JITF Infra LogisJITFINFRA
776-19.217.7314.1%21.5%1.9%14.9%-2.3%

As of Q4 FY26

Financials