VA Tech Wabag Ltd
NSE: WABAG · Water Supply & Management · sector
₹1,707.40NSE close 2026-10-26
Key numbers
Market cap₹10,671 cr
Price₹1,707.40
52w high / low₹2,319 / ₹1,033
P/E25.8xSector median 20.8x
P/B4.2xSector median 2.9x
Book value₹411.0
Dividend yield0.23%Sector median 0.48%
ROE18.0%Sector median 14.3%
ROCE21.0%Sector median 15.6%
OPM10.8%Sector median 17.1%
Debt / equity0.09xSector median 0.22x
EV/EBITDA22.1xSector median 10.1x
Interest cover8.2x
Current ratio1.71x
Sales growth 3y+10.0%Sector median +13.6%
Profit growth 3y+224.1%Sector median +107.0%
PEG1.07x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 6 companies in Water Supply & Management (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1,059 cr vs borrowings ₹228 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 8.2x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY24, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 35% of net profit in the last 12 months.
- Debtor days went from 254 (FY24) to 234 (FY26).
- Dividend paid in 1 of the last 5 financial years.
- Price ₹1,707.40 on 2026-10-26: -26.4% from the 52-week high, +65.3% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹2,155.30 · low ₹1,077.70
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 700 | 811 | 1,156 | 734 | 834 | 961 | 1,414 | 887 |
| EBITDA | 94 | 98 | 143 | 96 | 90 | 117 | 157 | 80 |
| OPM % | 13.4% | 12.0% | 12.3% | 13.0% | 10.8% | 12.2% | 11.1% | 9.0% |
| Other income | 14 | 15 | 11 | 11 | 42 | 23 | 32 | 52 |
| Net profit | 18 | 70 | 18 | 32 | 102 | 91 | 141 | 89 |
| EPS (₹) | 11.35 | 8.51 | 18.83 | 10.58 | 13.63 | 15.63 | 22.68 | 14.35 |
| Revenue YoY | +19.2% | +18.5% | +22.3% | +20.8% | ||||
| Profit YoY | +454.6% | +30.1% | +702.3% | +182.9% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,979 | 2,960 | 2,856 | 3,294 | 3,944 | 4,097 |
| EBITDA | 237 | 29 | 366 | 424 | 473 | 444 |
| Net profit | 132 | 13 | 246 | 16 | 437 | 423 |
| EPS (₹) | 20.80 | 36.87 | 39.49 | 50.09 | 70.24 | 66.29 |
| Revenue growth | -0.6% | -3.5% | +15.3% | +19.7% | +20.4% | |
| Profit growth | -90.3% | +1,811.3% | -93.4% | +2,599.4% | +207.5% | |
| Dividend / share (₹) | – | – | – | – | 4.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +10.0% | +6.8% | +20.4% |
| Net profit | +224.1% | +31.8% | +207.5% |
| EPS | +24.0% | +28.4% | – |
| Share price | – | +2.2% (2y) | +24.3% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,575 | 1,819 | 2,140 | 2,568 |
| Borrowings | – | 213 | 281 | 357 | 228 |
| Cash & equivalents | – | 275 | 510 | 945 | 1,059 |
| Total assets | – | 4,089 | 4,574 | 5,267 | 6,122 |
| Fixed assets | – | 72 | 69 | 64 | 63 |
| Capital work in progress | – | 0 | 0 | 0 | – |
| Investments | – | 4 | 4 | 4 | 5 |
| Receivables | – | 1,507 | 1,991 | 2,013 | 2,524 |
| Inventory | – | 41 | 36 | 36 | 36 |
| Payables | – | 1,070 | 1,028 | 1,046 | 1,262 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 12 | 132 | 134 | 355 | 207 |
| Cash from investing | -34 | -2 | 84 | -121 | -20 |
| Cash from financing | 45 | -269 | 44 | 34 | -185 |
| Capex | 6 | 5 | 12 | 4 | 5 |
| Free cash flow | 6 | 127 | 122 | 351 | 202 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 0.8% | 13.5% | 0.8% | 17.0% |
| ROCE % | – | 4.1% | 19.1% | 18.5% | 20.1% |
| Debtor days | – | 186 | 254 | 223 | 234 |
| Inventory days | – | 7 | 6 | 5 | 4 |
| Payable days | – | 172 | 173 | 149 | 153 |
| Cash conversion cycle (days) | – | 21 | 87 | 79 | 85 |
| Working capital days | – | 92 | 188 | 195 | 195 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 19.03% |
| FIIs | 18.75% |
| DIIs | 5.87% |
| of which Mutual funds | 4.79% |
| Public (non-institutions) | 56.35% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 19.13% | 19.13% | 19.12% | 19.10% | 19.09% | 19.09% | 19.08% | 19.03% |
| Promoter group | % |
|---|---|
| Rajiv Mittal | 15.54% |
| Varadarajan S | 3.50% |
| Public holders above 1% | % |
|---|---|
| Rekha Jhunjhunwala | 8.00% |
| Motilal Oswal Small CAP Fund | 2.80% |
| Federated Hermes Investment Funds PLC on Behalf of Federated Hermes Global Emerging Markets Equity Fund | 1.80% |
| Ishares II Public Limited Company - Ishares Global Water Ucits ETF | 1.09% |
| The Prudential Assurance Company Limited | 1.06% |
| Vanguard Total International Stock Index Fund | 1.05% |
| Vanguard Emerging Markets Stock Index Fund, A Series of Vanguard International Equity Index Funds | 1.01% |
2,27,238 shareholders. Pledged: 0.00% of promoter shares.
Peers in Water Supply & Management
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| WABAG | ₹10,671 cr | 25.8x | 4.2x | 18.0% | 21.0% | 10.8% | +10.0% | 0.23% |
| IONEXCHANG | ₹4,734 cr | 40.2x | 3.5x | 7.7% | 9.2% | 5.4% | +13.6% | 0.41% |
| EIEL | ₹2,854 cr | 15.8x | 2.3x | 16.2% | 17.8% | 22.5% | – | – |
| TECHNOCRAF | ₹1,463 cr | – | – | – | – | – | – | – |
| JITFINFRA | ₹660 cr | – | – | – | 12.9% | 17.1% | +20.9% | 0.56% |
| DENTA | ₹621 cr | 9.9x | 1.4x | 12.3% | 15.6% | 26.9% | – | 1.07% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Rest of the World | ₹2,091 cr | 52.2% | ₹585 cr | 28.0% |
| India | ₹1,864 cr | 46.5% | ₹320 cr | 17.2% |
| Un-allocable revenue | ₹52 cr | 1.3% | ₹82 cr | 158.2% |
| Exceptional items | ₹0 cr | – | ₹-5 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-17 | Dividend | Dividend - Rs 5 Per Sh |
| 2025-08-05 | Dividend | Dividend - Rs 4 Per Share |
| 2024-08-06 | Other | Annual General Meeting |
| 2023-07-28 | Other | Annual General Meeting |
| 2022-08-11 | Other | Annual General Meeting |
| 2021-08-12 | Other | Annual General Meeting |
| 2020-09-11 | Other | Annual General Meeting |
| 2019-08-01 | Other | Annual General Meeting |
| 2018-08-01 | Dividend | Annual General Meeting/Dividend-Rs 4 Per Share |
| 2017-07-13 | Dividend | Annual General Meeting/Dividend - Rs 4/- Per Share |
| 2016-07-14 | Dividend | Annual General Meeting/Dividend Rs 4/- Per Share |
| 2015-07-16 | Dividend | Annual General Meeting/ Dividend - Rs 4/- Per Share |
| 2015-03-26 | Bonus | Bonus 1 : 1 |
| 2014-07-10 | Dividend | Annual General Meeting / Dividend - Rs 8/- Per Share |
| 2013-07-11 | Dividend | Annual General Meeting/Dividend Rs 7 Per Share |
| 2012-07-12 | Dividend | Annual General Meeting/Dividend Rs 6 Per Share |
| 2011-08-16 | Split | Face Value Split From Rs.5/- To Rs.2/- |
| 2011-06-29 | Dividend | Annual General Meeting / Dividend - Rs.10/- Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Engineering, Procurement and Construction and Operation and Maintenance of water and waste water treatment plants including PPP projects under HAM and BOOT Models. [Group Code: E & F]: a) EPC of Water and Waste water treatment Plants including Desalination, Reuse and recycle of waste water, industrial effluent treatment, Sewage treatment and handling of sludge for production of green power and resource recovery. [Code: F2 Instruction Kit for e-Form MGT-7 for filing Annual Return of the Company]
- Engineering, Procurement and Construction and Operation and Maintenance of water and waste water treatment plants including PPP projects under HAM and BOOT Models. [Group Code: E & F]: b) O&M of above facilities. [Code: E1, E2 & E3 – Instruction Kit for e-Form MGT-7 for filing Annual Return of the Company]
| Sector | Utilities |
| Industry | Water Supply & Management |
| Sub-industry | Water Supply & Management |
| Symbol | WABAG |
| BSE code | 533269 |
| ISIN | INE956G01038 |
| Face value | ₹2.0 |
| Incorporated | 1995-02-17 |
| Website | www.wabag.com |
| Plants (India / abroad) | 82 / 20 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.