VA Tech Wabag Limited (IN:WABAG)
:WABAG
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VA Tech Wabag Limited
(WABAG)
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Rating:69Neutral
Price Target:
₹1,378.00
▲(7.20% Upside)
Action:ReiteratedDate:09/25/25
VA Tech Wabag Limited's strong financial performance is the most significant factor, supported by robust revenue growth and cash flow generation. Technical analysis indicates a neutral trend with some bullish momentum, while valuation metrics suggest the stock is relatively expensive. The absence of earnings call insights and corporate events limits additional context.
Positive Factors
Free Cash Flow Generation
Substantially higher free cash flow and OCF-to-net income >1 indicate durable cash conversion. This strengthens capacity to fund working capital, refurbishments, O&M expansions and reduce reliance on external financing, supporting stability across multi-month project cycles.
Negative Factors
EPC Concentration & Execution Risk
A large portion of revenue comes from turnkey EPC contracts where timely delivery and procurement cost control drive margins. Project delays, input-cost inflation or supply bottlenecks can compress margins and delay cash inflows, a structural operational risk over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Generation
Substantially higher free cash flow and OCF-to-net income >1 indicate durable cash conversion. This strengthens capacity to fund working capital, refurbishments, O&M expansions and reduce reliance on external financing, supporting stability across multi-month project cycles.
Read all positive factors
VA Tech Wabag Limited (WABAG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹83.09B
Dividend Yield0.31%
Average Volume (3M)11.30K
Price to Earnings (P/E)22.2
Beta (1Y)1.56
Revenue Growth19.23%
EPS Growth22.61%
CountryIN
Employees1,600
SectorIndustrials
Sector Strength72
IndustryWaste Management
Share Statistics
EPS (TTM)14.85
Shares Outstanding62,309,593
10 Day Avg. Volume11,829
30 Day Avg. Volume11,305
Financial Highlights & Ratios
PEG Ratio1.49
Price to Book (P/B)4.15
Price to Sales (P/S)2.70
P/FCF Ratio25.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,748.67Price Target Upside36.04% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)71.42
Revenue Forecast (FY)₹44.31B
VA Tech Wabag Limited Business Overview & Revenue Model
Company Description
VA Tech Wabag Limited, together with its subsidiaries, engages in the design, supply, installation, construction, and operational management of drinking water, waste and industrial water treatment, and desalination plants in India and internationa...
How the Company Makes Money
WABAG primarily makes money through (1) EPC/project execution revenue and (2) recurring operations & maintenance (O&M) revenue. EPC revenues are earned by undertaking turnkey or design-and-build contracts in which WABAG provides engineering/design...
VA Tech Wabag Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
81
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 35.36B | 32.94B | 28.56B | 29.60B | 29.79B | 28.34B |
| Gross Profit | 7.09B | 4.61B | 4.58B | 6.91B | 4.17B | 3.91B |
| EBITDA | 4.92B | 4.22B | 4.19B | 821.90M | 2.69B | 2.27B |
| Net Income | 3.20B | 2.95B | 2.46B | 130.00M | 1.32B | 1.10B |
Balance Sheet | ||||||
| Total Assets | 54.62B | 52.67B | 45.74B | 40.89B | 40.02B | 41.61B |
| Cash, Cash Equivalents and Short-Term Investments | 8.32B | 9.45B | 5.06B | 2.69B | 3.37B | 3.48B |
| Total Debt | 2.40B | 3.62B | 2.89B | 2.19B | 4.36B | 3.58B |
| Total Liabilities | 31.33B | 31.22B | 27.51B | 25.15B | 24.76B | 26.49B |
| Stockholders Equity | 23.23B | 21.40B | 18.19B | 15.75B | 15.39B | 15.26B |
Cash Flow | ||||||
| Free Cash Flow | -516.00M | 3.51B | 1.22B | 798.00M | 61.20M | 1.20B |
| Operating Cash Flow | -486.00M | 3.55B | 1.33B | 849.80M | 116.40M | 1.35B |
| Investing Cash Flow | 288.00M | -1.21B | 841.00M | 157.80M | -339.70M | -41.40M |
| Financing Cash Flow | -1.62B | 340.00M | 436.00M | -2.40B | 446.40M | -858.90M |
VA Tech Wabag Limited Technical Analysis
Positive
1285.45
Price Trends
1220.58
Positive
1262.39
Positive
1376.13
Negative
Market Momentum
9.52
Negative
61.55
Neutral
89.75
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WABAG, the sentiment is Positive. The current price of 1285.45 is above the 20-day moving average (MA) of 1229.12, above the 50-day MA of 1220.58, and below the 200-day MA of 1376.13, indicating a neutral trend. The MACD of 9.52 indicates Negative momentum. The RSI at 61.55 is Neutral, neither overbought nor oversold. The STOCH value of 89.75 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:WABAG.
VA Tech Wabag Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹33.38B | 11.13 | ― | 0.16% | -42.73% | -44.36% | |
69 Neutral | ₹83.09B | 22.21 | ― | 0.31% | 19.23% | 22.61% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | ₹65.35B | 19.27 | ― | 0.05% | 28.54% | 19.19% | |
60 Neutral | ₹33.61B | 13.05 | ― | 0.25% | -8.92% | -22.83% | |
59 Neutral | ₹121.06B | 25.72 | ― | 0.43% | 4.16% | -0.73% | |
45 Neutral | ₹43.90B | 118.38 | ― | ― | -31.50% | -74.38% |
* Industrials Sector Average
IN:WABAG
VA Tech Wabag Limited
1,333.45
-64.25
-4.60%
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VA Tech Wabag Limited Corporate Events
Wabag Wins EIB-Funded Wastewater Project in Georgia, Enters CIS Market
Mar 20, 2026
VA Tech Wabag has won a large international consortium order from United Water Supply Company of Georgia to build a 19 million litres per day wastewater treatment plant in Kutaisi, funded by the European Investment Bank. The project, designed for ...
VA Tech Wabag JV Wins ADB-Funded Mega Contract for Chennai City-Wide Water Grid
Mar 14, 2026
VA Tech Wabag has won a mega Asian Development Bank-funded contract, as leader of a joint venture, from the Chennai Metropolitan Water Supply and Sewerage Board to build a looped transmission network under the Chennai Climate Resilient Water Secur...
VA Tech Wabag to Appeal ₹43.7 Lakh GST Demand Over Alleged Excess ITC
Mar 6, 2026
VA Tech Wabag has disclosed that it received a GST demand order from the Deputy Commissioner, GST Commissionerate, Uttar Pradesh, alleging excess input tax credit claimed for FY 2019-20. The order, issued under Section 74 of the CGST Act, seeks a ...
India Ratings Reaffirms VA Tech Wabag’s ‘IND AA-/Stable’ Credit Ratings
Feb 4, 2026
VA Tech Wabag Limited announced that India Ratings Research has reaffirmed its credit ratings, maintaining the company’s Non-Convertible Debentures and bank loan facilities at ‘IND AA-/Stable’ and ‘IND AA-/Stable/IND A1+&#...
VA Tech Wabag Clarifies NSE Query on Quarterly Financial Results and EPS Discrepancy
Feb 3, 2026
VA Tech Wabag Limited has responded to a clarification sought by the National Stock Exchange of India regarding its financial results for the quarter ended 31 December 2024, specifically relating to compliance with the prescribed presentation form...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.