Skip to content
VA Tech Wabag logo

VA Tech Wabag

WABAG NSE
₹1,854.60 No trade today
P/E
29.26
View as Markdown
MCP
Close 4 Nov 2026 ₹1,854.60 +495.90 +36.5% 1Y
Start ₹1,358.70

Key Fundamentals

MicrocapOther UtilitiesUtilities

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
21.30%
Debt to Equity
0.09
EPS (TTM)
₹63.38
Book Value
₹410.86
Market Cap
—
P/E (TTM)
29.26
P/B
4.51
ROE
15.90%
Dividend Yield
0.28%
EBITDA
₹572 Cr
52W High
₹2,319.00
52W Low
₹1,033.00
Volume
0

Peer Comparison

Utilities › Water Supply & Management

VA Tech Wabag peer comparison
VA Tech Wabag (this company)
₹1,854.6029.26₹11,480 Cr4.510.28%15.90%21.30%₹4,097 Cr₹394 Cr
Ion Exchange
₹313.9546.93₹4,372 Cr3.440.37%12.00%14.20%₹3,032 Cr₹98 Cr
Enviro Infra Engineers
₹179.5517.42₹3,055 Cr2.620.00%16.80%20.20%₹1,264 Cr₹191 Cr
Technocraft Ventures
₹540.2037.26₹2,070 Cr5.860.00%——₹325 Cr₹44 Cr
JITF Infralogistics
₹270.60—₹697 Cr—0.00%—15.40%₹2,922 Cr−₹7 Cr
Denta Water & Infra Solutions
₹240.2911.99₹624 Cr1.401.11%13.30%18.40%₹242 Cr₹53 Cr
Apex Ecotech
₹241.05—₹317 Cr5.020.00%31.10%41.40%——
Median 7 companies₹270.6029.26₹2,070 Cr3.980.00%15.90%19.30%₹2,093 Cr₹75 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

55 Good

Data confidence 100/100

insider_selling

Category scores

Quality
57
Good
Returns, margins, earnings quality 22% weight
Valuation
39
Weak
Cheap vs sector & own history 24% weight
Growth
56
Good
Sales & profit trajectory 9% weight
Financial Health
77
Strong
Solvency, leverage, coverage 9% weight
Momentum
89
Strong
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 27.7% CAGR over last 5 years

Weaknesses

4
  • The company has delivered a poor sales growth of 6.83% over past five years.
  • Promoter holding is low: 19.1%
  • Earnings include an other income of Rs.152 Cr.
  • Company has high debtors of 234 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish865
OscillatorsBearish261
Moving AveragesStrong Bearish604

Key readings

RSI (14)
47.12
Neutral
MACD (12,26,9)
−49.00
Bullish
SMA (50)
1,979.68
Bearish
SMA (200)
1,655.20
Bullish

As of

Analyst Rating

Based on 7 analysts
BUY86%

6 of 7 analysts rate Buy, 1 Hold, 0 Sell.

As of

BUY
6
86%
HOLD
1
14%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+4.63%
5Y+6.83%
3Y+10.04%
1Y+19.73%
TTM+20.44%

Net profit

Net profit growth by window
10Y+15.18%
5Y+29.65%
3Y+222.80%
1Y+25.42%
TTM+28.76%

Operating cash flow

Operating cash flow growth by window
10YTurned positive
5Y+8.92%
3Y+34.54%
1Y−41.69%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+3.51 pp
5Y+4.39 pp
3Y+1.38 pp
1Y−0.69 pp
TTM−1.70 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹3,208 Cr
Mar 2018₹3,457 Cr
Mar 2019₹2,781 Cr
Mar 2020₹2,557 Cr
Mar 2021₹2,834 Cr
Mar 2022₹2,979 Cr
Mar 2023₹2,960 Cr
Mar 2024₹2,856 Cr
Mar 2025₹3,294 Cr
Mar 2026₹3,944 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹112 Cr
Mar 2018₹147 Cr
Mar 2019₹89.00 Cr
Mar 2020₹84.00 Cr
Mar 2021₹101 Cr
Mar 2022₹132 Cr
Mar 2023₹11.00 Cr
Mar 2024₹250 Cr
Mar 2025₹295 Cr
Mar 2026₹370 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹612 Cr +7.0% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 3 Aug 2026
AI opinion · based on fundamentals
Risk medium

Va Tech Wabag is a water-technology EPC company with a market cap of ~₹12,451 crore trading at a P/E of 33.4x. It closed FY26 with consolidated PAT of ₹370.5 crore (up 26% YoY) and revenue of ₹3,944 crore (up 20% YoY), while maintaining a record order book of ₹17,200 crore (~4x annual revenue) and net cash of ~₹1,006 crore.

Bull Case 8
  • FY26 PAT grew 26% YoY to ₹370.5 crore and consolidated revenue rose 20% YoY to ₹3,944 crore, demonstrating accelerating execution
  • Record order book of ₹17,200 crore provides revenue visibility of over 4x annual revenue, with order inflows of ~₹4,748 crore in 9MFY26 alone
  • Company is net cash positive for 12 consecutive quarters with ~₹1,006 crore net cash (ex-HAM), making it virtually debt-free
  • Compounded profit CAGR of 93% over 3 years and 28% over 5 years reflects a sharp earnings recovery and consistent margin improvement
  • EBITDA grew 22% YoY to ₹524 crore in FY26, with EBITDA margins stable in the 13-15% guided range indicating operational discipline
  • ROE has improved steadily from 11% (10-year average) to 16% last year, signalling better capital efficiency
  • Dividend per share increased to ₹5 for FY26 (up from ₹4 in FY25), reflecting management confidence in cash generation
  • Stock has compounded at 58% CAGR over 3 years, reflecting strong market re-rating driven by order book growth
Bear Case 8
  • P/E of 33.4x is elevated for an EPC business, pricing in significant future growth with limited room for execution misses
  • Promoter holding is low at 19.1%, which raises governance concerns and leaves the company vulnerable to hostile actions or speculative moves
  • Debtor days stand at 234 days, indicating working capital intensity and potential cash-flow stress from delayed client payments
  • 5-year sales CAGR of only 6.83% shows that until recently, the company struggled to convert its order book into revenue consistently
  • P/B ratio of 4.8x is high for an asset-light EPC model, leaving little valuation cushion if margins compress
  • Dividend yield of just 0.25% offers negligible income return relative to the valuation paid
  • International order mix (~80% of H1FY26 inflows) introduces forex risk and geopolitical execution risk in Middle-East and Africa markets
  • TTM revenue growth of 20% still lags the order book growth rate, suggesting execution capacity could become a bottleneck

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

87d ago

TL;DR: Va Tech Wabag is delivering strong financial performance with 25% PAT growth and a healthy INR 172 billion order book, supplemented by fresh order wins in Bengaluru. No material headwinds are visible in the recent news flow. The trend is clearly improving with earnings momentum and order pipeline both pointing upward heading into FY27.

Positives 2
  • Strong FY26 PAT up 25% Jul 20

    Consolidated PAT of INR 3,698 million, up 25.44% YoY, with EBITDA growing 21.83% and order book at INR 172,000 million in FY 2025-26.

  • Wins large BWSSB order Jul 20

    Secured a large order from BWSSB for wastewater treatment facilities in Bengaluru, adding to the robust order book.

Neutral 2
  • BRSR filed for FY26 Jul 20

    Filed BRSR for FY 2025-26 reporting 32% water positivity and 50% carbon emission reduction, reinforcing ESG credentials.

  • 31st AGM on Aug 12 Jul 17

    Annual General Meeting scheduled for August 12, 2026 via video conferencing to transact routine business.

Quarterly Results

₹ Cr
WABAG quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
553
665
704
934
626
700
811
1,156
734
834
961
1,414
887
Expenses
497
579
606
819
547
607
713
1,015
638
745
840
1,258
807
Operating Profit
56
86
98
116
79
94
98
141
96
89
122
156
80
OPM %
10%
13%
14%
12%
13%
13%
12%
12%
13%
11%
13%
11%
9%
Other Income
26
16
4
9
11
19
15
11.4
11
43
19
32
58
Interest
16
17
17
22
18
19
20
22
19
20
18
17
17
Depreciation
2
2
2
2
2
1
1
1
1
2
2
2
2
PBT
64
83
83
100
70
92
91
131
87
111
121
170
118
Tax %
22%
28%
25%
22%
22%
24%
23%
24%
24%
23%
25%
25%
24%
Net Profit
50
60
63
78
55
70
70
100
66
85
91
128
90
EPS (₹)
8.04
9.68
10.11
11.64
8.84
11.35
11.29
16
10.58
13.62
14.72
20.59
14.45

Profit & Loss

₹ Cr
WABAG profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,435
2,508
3,208
3,457
2,781
2,557
2,834
2,979
2,960
2,856
3,294
3,944
4,097
Expenses
2,225
2,293
2,969
3,165
2,587
2,340
2,616
2,745
2,643
2,490
2,872
3,467
3,651
Operating Profit
210
216
239
292
194
217
219
234
318
366
422
478
446
OPM %
9%
9%
7%
8%
7%
8%
8%
8%
11%
13%
13%
12%
11%
Other Income
7
8
11
8
8
40
14
32
−226
43
47
90
152
Interest
39
46
53
58
75
109
90
88
66
71
79
73
71
Depreciation
11
20
19
18
17
15
12
10
9
8
6
6
6
PBT
167
157
179
224
110
132
130
168
17
330
384
488
520
Tax %
34%
43%
37%
34%
19%
37%
23%
22%
35%
24%
23%
24%
—
Net Profit
112
90
112
147
89
84
101
132
11
250
295
370
394
EPS (₹)
20.28
16.28
18.76
24.06
19.2
16.63
17.71
21.21
2.09
39.49
47.48
59.46
63.38
Div. Payout %
20%
25%
21%
17%
21%
0%
0%
0%
0%
0%
8%
8%
—

Balance Sheet

₹ Cr
WABAG balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
11
11
11
11
11
11
12
12
12
12
12
12
Reserves
892
909
982
1,118
1,058
1,164
1,397
1,527
1,562
1,806
2,128
2,556
Borrowings
181
388
314
482
613
520
358
436
219
289
362
228
Other Liabilities
1,481
1,610
2,041
2,107
2,083
2,328
2,389
2,024
2,294
2,467
2,766
3,326
Total Liabilities
2,565
2,918
3,348
3,717
3,766
4,022
4,157
3,999
4,088
4,574
5,267
6,122
Fixed Assets
191
175
174
172
149
86
86
80
75
72
67
66
CWIP
1
2
0
0
0
0
0
0
0
0
0
0
Investments
38
32
22
5
8
20
24
38
46
67
69
72
Other Assets
2,335
2,708
3,151
3,540
3,609
3,915
4,046
3,882
3,967
4,435
5,131
5,984
Total Assets
2,565
2,918
3,348
3,717
3,766
4,022
4,157
3,999
4,088
4,574
5,267
6,122

Cash Flow

₹ Cr
WABAG cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
6
−217
6
−216
−76
245
135
12
85
134
355
207
Investing
−99
122
52
3
9
5
1
−39
41
56
−111
46
Financing
2
182
−100
106
49
−135
−86
45
−240
44
34
−185
Net Cash Flow
−91
86
−42
−106
−18
114
51
17
−114
233
278
67
Free Cash Flow
−23
−232
−5
−219
−78
310
122
9
83
122
351
202
CFO/OP
29
−76
35
−46
−10
130
76
13
35
44
103
64

Ratios

WABAG financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
222
241
242
138
177
227
174
162
186
254
223
234
Cash Conversion Cycle
222
241
242
138
177
227
174
162
186
254
223
234
Working Capital Days
61
29
40
57
64
61
73
45
61
123
90
97
ROCE %
20%
17%
18%
19%
11%
14%
13%
13%
20%
20%
20%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view VA Tech Wabag insights

62 extracted metrics across FY06–FY27.

Shareholding Pattern

As of Sep 2026

  • Public 46.67%
  • Promoters 19.03%
  • FIIs 18.75%
  • Others 9.68%
  • DIIs 5.87%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about VA Tech Wabag

What does Va Tech Wabag Ltd do?
Va Tech Wabag Ltd is engaged in the business of water treatment field. Its principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.
Where is Va Tech Wabag Ltd (WABAG) listed?
Va Tech Wabag Ltd trades as WABAG on the NSE and under code 533269 on the BSE.
Which sector does Va Tech Wabag Ltd belong to?
Va Tech Wabag Ltd is classified under the Utilities sector, in the Water Supply & Management industry.
What is the PE ratio of Va Tech Wabag Ltd?
Va Tech Wabag Ltd trades at a PE ratio of 29.26 as of 4 Nov 2026, on earnings per share of ₹63.38, against a book value of ₹410.86 per share.
What is the 52-week high and low of Va Tech Wabag Ltd?
Over the last 52 weeks Va Tech Wabag Ltd has traded between ₹1,033 and ₹2,319 as of 4 Nov 2026.
Does Va Tech Wabag Ltd pay dividends?
Va Tech Wabag Ltd has a dividend yield of 0.28%.
What is the Return on Equity (ROE) of Va Tech Wabag Ltd?
Va Tech Wabag Ltd reported a return on equity of 15.90%. Its debt-to-equity ratio is 0.09.

Company Information

Va Tech Wabag Ltd is engaged in the business of water treatment field. Its principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.

Website wabag.com
CEO Mr. Rajiv Devaraj Mittal
Employees 1,600
Listed 13 Oct 2010
Face Value ₹2

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/WABAG.md for Va Tech Wabag Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Water, Gas & Other Utilities stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month