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Va Tech Wabag Results: Latest Quarterly Results & Analysis

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Va Tech Wabag Ltd. 12 Aug 2026 16:33 PM
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Q1FY27 Quarterly Result Announced for Va Tech Wabag Ltd.

Non-Electrical Utilities company Va Tech Wabag announced Q1FY27 results

Consolidated Financial Highlights:

  • Total Revenue from Operations: Stood at Rs 8,868 million in Q1FY27, reflecting a growth of 20.82% compared to Rs 7,340 million in Q1FY26. On a QoQ basis, revenue decreased by 37.30% from Rs 14,144 million in Q4FY26.
  • Total Income: Reached Rs 9,388 million in Q1FY27, marking an increase of 25.96% YoY from Rs 7,453 million and a sequential decline of 35.09% from Rs 14,463 million in Q4FY26.
  • EBITDA: Reported at Rs 1,163 million for Q1FY27, an increase of 22% compared to the corresponding quarter of the previous year.
  • Profit After Tax (PAT): For Q1FY27, PAT stood at Rs 901 million, a significant increase of 36.93% YoY from Rs 658 million, while declining 29.61% QoQ from Rs 1,280 million in Q4FY26.
  • Total Comprehensive Income: For the quarter, it was Rs 894 million, up from Rs 976 million in Q1FY26 and down from Rs 1,411 million in Q4FY26.
  • Earnings Per Share (EPS): Basic EPS (not annualised) was Rs 14.46 in Q1FY27 compared to Rs 10.58 in Q1FY26 and Rs 20.61 in Q4FY26.

Standalone Financial Highlights:

  • Total Revenue from Operations: Reported at Rs 7,393 million in Q1FY27, an increase of 15.48% YoY from Rs 6,402 million and a decline of 36.64% QoQ from Rs 11,669 million in Q4FY26.
  • Total Income: Stood at Rs 7,834 million in Q1FY27, representing a YoY growth of 20.49% from Rs 6,502 million and a QoQ decrease of 35.77% from Rs 12,197 million.
  • Profit After Tax (PAT): Came in at Rs 793 million in Q1FY27, up 30.21% YoY from Rs 609 million, but down 35.32% QoQ from Rs 1,226 million in Q4FY26.

Business Highlights:

  • Order Book and Net Cash
    • Order Intake: The company recorded an order intake of Rs 34 billion during the quarter.
    • Order Book: Reached an all-time high of approximately Rs 194 billion (excluding framework contracts), providing robust revenue visibility.
    • Net Cash Position: The net cash position (excluding HAM) reached Rs 9,649 million, remaining net cash positive for the 14th straight quarter.
  • Geographical Segment Performance (Consolidated Revenue)
    • India: Revenue stood at Rs 4,228 million in Q1FY27 compared to Rs 4,185 million in Q1FY26 and Rs 6,218 million in Q4FY26.
    • Rest of the World: Revenue reached Rs 4,660 million in Q1FY27 compared to Rs 3,155 million in Q1FY26 and Rs 7,924 million in Q4FY26.
  • Key Wins and Operations
    • Forayed into Kuwait with a "Mega" SWRO (Seawater Reverse Osmosis) project.
    • Entered the UAE market with an order win in Ajman.
    • In Europe, secured a key project win in Austria from Donauinsel Water Works.
    • In India, enhanced long-standing relationships with BWSSB and DJB through new order wins.

Commenting on the results, Rajiv Mittal, Chairman & Managing Director, VA TECH WABAG said, "We are delighted to start the year with strong international and domestic orders, robust top-line momentum, and strong profitability. All clusters delivered on order intake which resulted in our order book surging to approximately Rs 19,400 crores, even as we persisted with our selective approach to bidding for projects. We forayed into Kuwait with the award of a “Mega” SWRO project and also entered the UAE market with an order win in Ajman. In India, we enhanced our long-standing relationships with BWSSB and DJB, through new order wins. In Europe, we secured a key project win in Austria from Donauinsel Water Works. These wins provide us with strong revenue visibility and reflect our focus on complex technology jobs which fall in our focus area and enable us to deliver value addition to our clients.

In this quarter, we continued to grow profitably, extending our positive net cash position streak to the 14th consecutive quarter to reach 1NR 965 crores. Our strong performance is reflected in excellent execution discipline, with margins continuing to remain in line with our medium-term target. Our order pipeline indicates significant growth opportunities even going forward. We remain committed to enhancing value for our stakeholders and enabling them to participate in our success."

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Non-Electrical company Va Tech Wabag announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Total Income:
    • For Q4FY26, the total income stood at 14,463.00 million, compared to 9,845.00 million in Q3FY26, marking a QoQ increase of 46.91%.
    • Compared to 11,676.00 million in Q4FY25, the total income increased by 23.87% YoY.
    • For FY26, total income reached 40,385.00 million, up 20.96% from 33,386.00 million in FY25.
  • Revenue from Operations:
    • For Q4FY26, revenue was 14,144.00 million, up 47.13% QoQ from 9,613.00 million in Q3FY26.
    • On a YoY basis, revenue increased by 22.33% from 11,562.00 million in Q4FY25.
    • For FY26, revenue from operations was 39,442.00 million, compared to 32,940.00 million in FY25.
  • Net Profit (Profit for the period attributable to owners of the parent):
    • Reported at 1,283.00 million for Q4FY26, a QoQ increase of 39.91% from 917.00 million in Q3FY26.
    • On a YoY basis, net profit grew by 28.94% from 995.00 million in Q4FY25.
    • For FY26, net profit reached 3,705.00 million, up 25.47% from 2,953.00 million in FY25.

Standalone Financial Highlights:

  • Total Income:
    • For Q4FY26, total income stood at 12,197.00 million, compared to 8,098.00 million in Q3FY26, marking a QoQ increase of 50.62%.
    • Compared to 10,497.00 million in Q4FY25, the total income increased by 16.20% YoY.
    • For FY26, total income reached 34,014.00 million, up 16.86% from 29,107.00 million in FY25.
  • Revenue from Operations:
    • For Q4FY26, revenue was 11,669.00 million, up 48.21% QoQ from 7,873.00 million in Q3FY26.
    • On a YoY basis, revenue increased by 12.36% from 10,385.00 million in Q4FY25.
    • For FY26, standalone revenue was 32,844.00 million, compared to 28,738.00 million in FY25.
  • Net Profit:
    • Reported at 1,226.00 million for Q4FY26, a QoQ increase of 52.11% from 806.00 million in Q3FY26.
    • On a YoY basis, net profit grew by 23.84% from 990.00 million in Q4FY25.
    • For FY26, net profit reached 3,344.00 million, up 23.26% from 2,713.00 million in FY25.

Business Highlights:

  • Dividend: The Board of Directors has recommended a final dividend of Rs 5.00 per equity share of face value Rs 2/- each (250%) for FY26.
  • Order Book: The Company reported an order intake of over Rs 75 billion and an order book of over Rs 172 billion (including framework contracts).
  • Net Cash Position: The Group reported its 6th consecutive year of being net cash positive, with a gross cash position of Rs 10,592 million and a net cash position of Rs 8,337 million.
  • Impact of New Labour Codes: An estimated one-time increase in provision for employee benefits of Rs 47 million was recognized as an exceptional item for the period ended December 31, 2025, due to the notification of new Labour Codes.
  • Segment Performance (Geographical Revenue):
    • India: Revenue for Q4FY26 was 6,218.00 million compared to 6,620.00 million in Q4FY25. For FY26, revenue was 18,643.00 million.
    • Rest of the World: Revenue for Q4FY26 was 7,924.00 million compared to 5,118.00 million in Q4FY25. For FY26, revenue was 20,913.00 million.

Rajiv Mittal, Chairman & Managing Director, VA Tech Wabag, said: “FY26 marks another year of consistent profitable growth, firmly in line with our medium-term guidance, a testament to disciplined project execution and the quality of our order book. This is also our sixth consecutive year of closing net cash positive, reinforcing the financial resilience that underpins our growth ambitions. Our credit rating was reaffirmed at 'IND AA-' / Stable during the year, a recognition of our balance sheet strength and revenue visibility. With an order book of Rs 172 billion, with robust payment securities, driven by advanced technology projects, a diversified mix of EPC and O&M revenues, and an expanding global footprint, WABAG is well positioned to sustain this momentum. The Board's recommendation of a final dividend of Rs 5 per share reflects our confidence in the Company's cash generation and our commitment to progressive shareholder returns. Looking ahead, our priorities remain clear: technology-led lifecycle water solutions, expansion into new energy adjacencies including Ultra-Pure Water and Bio-CNG, and continued investment in the talent and capabilities that make WABAG a trusted partner for water-secure infrastructure worldwide.”

Result PDF

Non-Electrical company Va Tech Wabag announced Q3FY26 results

  • Consolidated Revenue from operations of Rs 25,298 million; up by 18% YoY.
  • Consolidated EBITDA of Rs 3,470 million; up by 20% YoY.
  • Consolidated PAT of Rs 2,422 million; up by 24% YoY.

Rajiv Mittal, Chairman & Managing Director, Va Tech Wabag, said: "We continued on our profitable growth trajectory, driven by consistent project execution and disciplined operations. Performance remained in line with mid-term guidance, with revenue growth of over 18% while maintaining guided margins. We sustained a net cash positive position for the twelfth consecutive quarter, with gross cash of over Rs 1,000 crore, providing strong financial flexibility to pursue PPP opportunities, expand our geographical footprint, and develop new markets. India Ratings & Research reaffirmed our long-term rating at "INDAA-" with a "Stable" outlook, reflecting our robust credit profile and healthy revenue visibility. With an order book exceeding Rs 163 billion and a strong order pipeline, we remain confident of sustaining growth momentum in line with our medium-term outlook"

Result PDF

Non-Electrical Utilities company Va Tech Wabag announced Q2FY26 results

  • Revenue from operations: Rs 8,345 million compared to Rs 7,003 million during Q2FY25.
  • PBT: Rs 1,108 million compared to Rs 924 million during Q2FY25.
  • PAT: Rs 848 million compared to Rs 703 million during Q2FY25.

Rajiv Mittal, Chairman & Managing Director, VA TECH WABAG, said: "I am pleased that our half-year performance underscores the success of WABAG's focused strategy anchored on profitable growth, strong cash flows; and a robust order book position. Maintaining our net cash position for the 11th consecutive quarter highlights our financial resilience and disciplined execution. The strategic wins in Ultra-Pure Water and Compressed Bio-Gas opens new avenues in fast-growing 'Future Energy Solutions' segment With a strong order book of around Rs 158 billion and a well-diversified global presence, we are poised to accelerate our growth trajectory and continue to drive enduring stakeholder value."

Result PDF

Utilities: Non-Electrical company Va Tech Wabag announced Q1FY26 results

  • Consolidated revenue from operations of Rs 7,340 million.
  • Consolidated EBITDA of Rs 956 million; up 18% YoY.
  • Consolidated PAT of Rs 658 million; up by 20% YoY.
  • Gross Cash Position Rs 8,149 million and Net Cash Position Rs 5,100 million; 10th consecutive quarter of Net Cash Positive.
  • Net Cash Position excluding HAM Projects Rs 6,267 million
  • Order Intake of -Rs 26 billion.
  • Order Book of -Rs 158 billion, including Framework contracts; Providing robust revenue visibility.

Rajiv Mittal, Chairman & Managing Director, Va Tech Wabag, said: "I am pleased to share that we have carried forward the growth momentum from last year and closed this quarter with profitable growth. Progressing in line with our strategy, we delivered a topline expansion of over 17% YoY, maintained a healthy EBITDA margin of 13%, and achieved an O&M revenue share of over 20%. This quarter also marked our 10th consecutive quarter of net cash positivity, underscoring our disciplined financial management. We also closed the quarter with a robust and well-diversified order book of approximately Rs 158 billion, over four times our annual revenue. Notably, we secured two prestigious contracts this quarter.- the much-anticipated Yanbu 300 MLD Desalination Project in the Kingdom of Saudi Arabia and the BWSSB DBO Project in Bengaluru.

As we move into the next quarter, we remain confident in our ability to secure significant projects and sustain our growth trajectory"

Result PDF

Non-Electrical Utilities company Va Tech Wabag announced Q4FY25 & FY25 results

Consolidated Q4FY25 Financial Highlights:

  • Revenue from operations on a consolidated basis stood at Rs 11,562 million for Q4FY25 compared to Rs 8,110 million for Q4FY24
  • PBT for the Quarter stood at Rs 1,311 million compared to Rs 909 million for Q4FY24
  • PAT Stood at Rs 995 million for Q4FY25 compared to Rs 702 million for Q4FY24

Consolidated FY25 Financial Highlights:

  • Consolidated Revenue from operations of Rs 32,940 million; up 15% VoY
  • Consolidated EBITDA of Rs 4,302 million;
  • Consolidated PAT of Rs 2,953 million; up 20% YoY

Standalone Q4FY25 Financial Highlights:

  • Revenue from operations on a standalone basis stood at Rs 10,385 million for Q4FY25 compared to Rs 6,761 million for Q4FY24
  • PBT for the Quarter stood at Rs 1,306 million compared to Rs 864 million for Q4FY24
  • PAT Stood at Rs 990 million for Q4FY25 compared to Rs 642 million for Q4FY24

Standalone FY25 Financial Highlights:

  • Standalone Revenue from operations of Rs 28,738 million up 15% YoY
  • Standalone EBITDA of Rs 4,029 million;
  • Standalone PAT of Rs 2,713 million; up 15% YoY

Commenting on the results, Rajiv Mittal, Chairman & Managing Director, VA TECH WABAG said, "We are pleased to close another year of strong and profitable growth, driven by our long-term strategy, Wriddhi This success reflects our disciplined execution, customercentric approach, and commitment to delivering sustainable water solutions across global markets. We are especially proud to have been recognised by Global Water Intelligence as one of the top three global desalination players—a testament to our leadership and the trust placed in us by our clients and partners. Our financial resilience was further reinforced by the upgrade of our long-term credit rating to AA- with a stable outlook, affirming the strength of our balance sheet and prudent financial management. Also, in line with our 'Asset Light' strategy, we entered into a strategic partnership with a Norfund-led consortium to establish a platform for municipal infrastructure investments, enhancing our ability to scale impact while preserving capital efficiency. With a robust order book of Rs.1 37 billion and a balanced EPC and O&M portfolio, we have strong revenue visibility and stable cash flows. FY25 also marks our fifth consecutive year of ending net cash positive, highlighting our operational strength and financial discipline. In recognition of this performance, and to commemorate WABAG's centenary, the Board has recommended a dividend of Rs. 4 per share, subject to shareholder approval As we look ahead, we remain focused on creating long-term value through innovation, sustainable infrastructure, and strategic partnerships that contribute to a watersecure future."

Result PDF

Non-Electrical Utilities company Va Tech Wabag announced Q2FY25 results

  • Consolidated Revenue from operations of Rs 13,268 million.
  • Consolidated EBITDA of Rs 1,843 million; up by 19.0% YoY.
  • Consolidated PAT of Rs 1,256 million; up by 30.7% YoY.
  • Net Cash Position Rs 2,220 million.
  • Standalone Revenue from operations of Rs 11,592 million.
  • Standalone EBITDA of Rs 1,708 million; up by 11.3% YoY.
  • Standalone PAT of Rs 1,081 million; up by 6.9% YoY.
  • Net Cash Position Rs 2,123 million.

Rajiv Mittal, Chairman & Managing Director, VA TECH WABAG, said: "This quarter has marked another period of profitable growth for Wabag, driven by a focused strategy on technology, EP, industrial, and international projects. It is worth noting that against the preferred bidder status in projects of Rs 60 billion that we communicated during our last investor call, we have already secured over Rs 45 Billion of order intake in this quarter. Our order book stands at over Rs 146 Billion, the highest in our history, comprises a balanced mix of EPC and O&M projects both in India and Internationally. This strong backlog enhances visibility of future revenues, robust cash flows and a solid margin profile, positioning us well as we enter the second half of the financial year. The order pipeline remains strong, providing us with confidence in our sustained growth trajectory"

Result PDF

Non-Electrical Utilities company Va Tech Wabag announced Q1FY25 results:

  • Consolidated Revenue from operations of Rs 6,265 million
  • Consolidated EBITDA of Rs 813 million; up 23% YoY
  • Consolidated PAT of Rs 550 million; up by 31% YoY   
  • Standalone Revenue from operations of Rs 5,459 million
  • Standalone EBITDA of Rs 790 million; up 22% YoY
  • Standalone PAT of Rs 505 million; up by 7% YoY 
  • Order Book of -Rs 107 Bn including Framework contracts

Commenting on the results, Rajiv Mittal, Chairman & Managing Director, VA TECH WABAG LIMITED said, "I'm happy to report that our growth trend from the last year has continued. With our strategic focus on Industrial, International, EP and O&M projects, we have consistently improved our operating margins. This quarter around 60% of our revenue came from international projects. Our order book remains robust, exceeding Rs 100 Billion, with a healthy mix of EPC and O&M, giving us confidence and visibility for future revenue. As we move into the next quarter of the fiscal year, we are optimistic about securing large international projects and maintaining our growth momentum."

Result PDF

Non-Electrical Utilities company Va Tech Wabag announced FY24 results:

Sales and Profitability:

  • Consolidated Revenue from operations of Rs 28,564 million
  • Consolidated EBITDA of Rs 3,768 million; up 8% YoY
  • Consolidated PAT of Rs 2,456 million; up 9% YoY
  • Standalone Revenue from operations of Rs 25,097 million
  • Standalone EBITDA of Rs 3,577 million; up 3% YoY
  • Standalone PAT of Rs 2,358 million; up 8% YoY

Order Book:

  • Order Intake of Rs 23.4 Bn
  • Order Book position of over Rs 114 billion including Framework contracts; Providing Robust revenue visibility 

Cash:

  • Net Cash Position Rs 2,356 million
  • Operational Cash Flow Rs 1,335 million
  • Free Cash Flow Rs 1,683 million

Commenting on the results, Rajiv Mittal, Chairman & Managing Director, VA TECH WABAG said, "We continue to deliver Profitable Growth this Year with persistent focus on technology EP, Industrial and International projects. Group continues its strategic approach to remain 'Asset Light'; last year we strategically divested two of our European Subsidiqries and we have also successfully inducted majority Equity Partner in 2 out of 3 HAM SPVs. Our robust order book position which is over Rs 774 Billion, provides confidence of our future revenues. Our healthy mix of EP, O&M Industrial & International projects in line with our Strategy "Wriddhi" provides us good visibility for the future regarding robust margins and good cash flows. This is the fourth consecutive year we have concluded Net Cash Positive and I am confident that we will continue to remain on this growth path, as we step into the next financial year"

Result PDF

Non-electrical Utilities company Va Tech Wabag announced Q2FY24 results:

  • Consolidated Revenue from operations of Rs 12,178 million
  • Consolidated EBITDA up at Rs 1,636 million (13.4%)
  • Consolidated PAT of Rs 1,102 million ; up by 43% YoY
  • Standalone Revenue from operations of Rs 11,134 million
  • Standalone EBITDA up at Rs 1,534 million (13.8%)
  • Standalone PAT of Rs 1,011 million; up by 70% YoY
  • Order Intake of Rs 13.17 billion
  • Order Book of ~Rs 121 billion including Framework contracts

Commenting on the results, Rajiv Mittal, Chairman & Managing Director, Va Tech Wabag, said, "We continued to deliver profitable growth this quarter as well with our persistent focus on industrial, international and multilateral funded projects. Technology focus and cash accretive projects have been reaping the desired benefits and we have been consistently improving our operating margins through execution efficiencies. Our order book position of over Rs 120 billion with a healthy mix of EPC and O&M provides strong visibility of our future revenues, robust cash-flows and strong margin profile going forward Sustainable Be Profitable growth with a cash-positive status have been our foremost targets and I am confident that we will continue to remain on this growth path, as we step into the second half of the financial year"

 

Result PDF

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