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VA Tech Wabag Limited
(WABAG)
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Rating:63Neutral
Price Target:
₹1,822.00
▼(-10.78% Downside)
Action:Reiterated
Date:10/09/26
The score is primarily supported by improving financial performance and a strong, low-leverage balance sheet, but is held back by uneven cash-flow consistency. Near-term technical signals are soft (negative MACD and trading below short-term averages), and valuation is less attractive given the high P/E and low dividend yield.
Positive Factors
Conservative Balance Sheet
Very low leverage gives WABAG financial flexibility to fund projects, absorb execution variability, and pursue growth without relying heavily on external borrowing. A stronger equity base and reduced balance-sheet risk also support resilience through changing infrastructure investment cycles.
Negative Factors
Uneven Cash Conversion
Volatile operating cash flow can make reported earnings less dependable as a source of funding, particularly when project billing and working-capital timing shift. A material year-on-year decline in free cash flow may constrain reinvestment and increase dependence on disciplined cash management.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage gives WABAG financial flexibility to fund projects, absorb execution variability, and pursue growth without relying heavily on external borrowing. A stronger equity base and reduced balance-sheet risk also support resilience through changing infrastructure investment cycles.
Read all positive factors
VA Tech Wabag Limited (WABAG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹116.66B
Dividend Yield0.48%
Average Volume (3M)20.05K
Price to Earnings (P/E)29.4
Beta (1Y)1.24
Revenue Growth20.45%
EPS Growth28.59%
CountryIN
Employees1,234
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)63.37
Shares Outstanding62,514,828
10 Day Avg. Volume22,933
30 Day Avg. Volume20,049
Financial Highlights & Ratios
PEG Ratio0.77
Price to Book (P/B)2.81
Price to Sales (P/S)1.83
P/FCF Ratio31.97
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)73.29
Revenue Forecast (FY)₹46.27B
VA Tech Wabag Limited Business Overview & Revenue Model
Company Description
VA Tech Wabag Limited, an Indian-headquartered company established in 1995, delivers comprehensive water treatment solutions on a global scale through its subsidiaries. The firm designs, supplies, constructs, and manages facilities for drinking wa...
How the Company Makes Money
WABAG primarily makes money by designing, building, and operating water and wastewater infrastructure for public utilities and industrial clients. Key revenue streams include: (1) EPC / Design-and-Build project revenue: The company undertakes turn...
VA Tech Wabag Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.97B | 39.44B | 32.94B | 28.56B | 29.60B | 29.79B |
| Gross Profit | 6.98B | 6.34B | 4.61B | 4.58B | 6.91B | 4.17B |
| EBITDA | 5.40B | 5.68B | 4.22B | 4.19B | 821.90M | 2.69B |
| Net Income | 3.95B | 3.71B | 2.95B | 2.46B | 130.00M | 1.32B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 61.22B | 52.67B | 45.74B | 40.89B | 40.02B |
| Cash, Cash Equivalents and Short-Term Investments | 10.55B | 10.59B | 9.45B | 5.06B | 2.69B | 3.37B |
| Total Debt | 0.00 | 2.28B | 3.62B | 2.89B | 2.19B | 4.36B |
| Total Liabilities | -25.74B | 35.49B | 31.22B | 27.51B | 25.15B | 24.76B |
| Stockholders Equity | 25.74B | 25.68B | 21.40B | 18.19B | 15.75B | 15.39B |
Cash Flow | ||||||
| Free Cash Flow | -516.00M | 2.25B | 3.51B | 1.22B | 798.00M | 61.20M |
| Operating Cash Flow | -486.00M | 2.31B | 3.55B | 1.33B | 849.80M | 116.40M |
| Investing Cash Flow | 288.00M | -670.00M | -1.21B | 841.00M | 157.80M | -339.70M |
| Financing Cash Flow | -1.62B | -1.62B | 340.00M | 436.00M | -2.40B | 446.40M |
VA Tech Wabag Limited Technical Analysis
Neutral
2042.05
Price Trends
1993.82
Negative
1976.01
Negative
1641.26
Positive
Market Momentum
-61.77
Positive
46.28
Neutral
58.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WABAG, the sentiment is Neutral. The current price of 2042.05 is above the 20-day moving average (MA) of 1898.22, above the 50-day MA of 1993.82, and above the 200-day MA of 1641.26, indicating a neutral trend. The MACD of -61.77 indicates Positive momentum. The RSI at 46.28 is Neutral, neither overbought nor oversold. The STOCH value of 58.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:WABAG.
VA Tech Wabag Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹129.25B | 34.30 | ― | 0.43% | 10.85% | -4.06% | |
63 Neutral | ₹116.66B | 29.40 | ― | 0.48% | 20.45% | 28.59% | |
59 Neutral | ₹29.36B | 16.22 | ― | ― | 15.49% | -12.32% | |
56 Neutral | ₹50.89B | 42.09 | ― | 0.36% | 10.15% | -53.64% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹45.49B | 28.39 | ― | 0.27% | 15.77% | -60.93% | |
44 Neutral | ₹17.34B | -23.14 | ― | 6.23% | 8.81% | -248.88% |
* General Sector Average
IN:WABAG
VA Tech Wabag Limited
1,807.95
397.09
28.15%
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160.95
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338.25
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IN:JISLDVREQS
Jain Irrigation Systems Limited
19.30
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-38.12%
IN:KIRLOSBROS
Kirloskar Brothers Ltd.
1,602.85
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-14.07%
IN:SHAKTIPUMP
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353.40
-464.87
-56.81%
VA Tech Wabag Limited Corporate Events
Wabag Wins Mega Reliance Order for Jamnagar Desalination Project
Oct 27, 2026
VA Tech Wabag has secured a mega domestic order from Reliance Industries Limited to design, engineer, supply and commission a large desalination plant and associated remineralisation facility at Jamnagar in Gujarat. The desalination plant will hav...
VA Tech Wabag Secures First Kuwait Desalination Project with Mega Doha SWRO II Contract
Aug 25, 2026
VA Tech Wabag has signed the contract for the Doha SWRO Desalination Plant with Recarbonation System – Stage II in Kuwait, marking its first project in the country and reinforcing its footprint in the GCC. The project, awarded by Kuwait̵...
VA Tech Wabag to Host Chennai Plant Site Visit for Institutional Investors
Aug 21, 2026
VA Tech Wabag has informed the stock exchanges that its management and representatives will host a site visit for analysts and institutional investors at company-operated plants in Chennai on August 27, 2026, starting at 9:00 a.m. IST. The group m...
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.