Va Tech Wabag hits 52 week high on arm receiving order Rs 260 cr

Va Tech Wabag surged 10.82% to Rs 370.40 after that the company's European subsidiary WABAG Water Services S.R.L., Romania, received a repeat order from Purolite S.R.L, Romania worth approximately Rs 260 crore (EURO 30 million)

The order is for upgrading the industrial wastewater treatment plant (WWTP) in Romania.

The contract will be an engineering & procurement ('EP') scope contract which includes design & engineering, equipment supply, installation, commissioning and start-up of the Purolite Victoria WWTP. The project is scheduled to be executed over a 24-month period.

The existing plant, located in Victoria, Brasov County, was designed to treat 5,820 cubic meter per day of wastewater generated from resin production. Purolite has planned to increase the production and an increased wastewater flow will result from production.

Thus, an upgrade of the existing WWTP has become necessary. The upgrade will include additional pre-treatment, extension of existing lamella clarifiers and new reverse osmosis stage, in order to treat the effluent up to national NTPA001 discharge criteria.

Erwin Moetz, CEO - Wabag Romania said: "It is a matter of extreme pride for us to have bagged this key industrial order and we thank Purolite for the confidence they have reposed in us.

We have already built a wastewater treatment plant for Purolite and this repeat order is indeed a great testament of the trust that the customer has, regarding our capability and competencies.

Wabag Romania specializes in design and construction of industrial water plants and this project will be another marquee reference for us.

Va Tech Wabag principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.

On consolidated basis, the company's net profit rose 78% to Rs 46.67 crore on 9.7% rise in net sales to Rs 750.38 crore in Q2 FY23 over Q2 FY22.

The scrip had zoomed 12.16% to hit the day's high at Rs 374.90 in morning trade, which is also a 52-week high for the counter.

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