VA Tech Wabag climbs 7% after bagging order worth Rs 700 cr: details

Shares of VA Tech Wabag surged 6.67 per cent at Rs 1,690 a piece on the BSE in Friday’s intraday trade. VA Tech Wabag share price rose after the company secured a design, build & operate (DBO) order worth Euro 78 Million or Rs 700 crore from Lusaka Water Supply and Sanitation Company (LWSC), multi-laterally funded by the European Investment Bank (EIB) and the Kreditanstalt für Wiederaufbau (KfW) of Germany.

 

The company in a statement on Friday said that this order marks its entry into Zambia, further strengthening its presence in Africa and reinforcing its role as a comprehensive water solutions provider in the continent.

 

Under this contract, Wabag will execute the engineering, procurement, and construction (EPC) of two advanced wastewater treatment plants (WWTPs), a 54 MLD WWTP and a 19 MLD WWTP located in Ngwerere and Chunga, Zambia. 

 

The EPC phase will span 36 months, followed by 24 months of Operation & Maintenance (O&M) to ensure sustainable performance and efficiency.

 

Wabag is a leader in the water industry with a century of experience in water leadership and sustainability. As a dedicated water technology multinational, Wabag provides comprehensive Total Water Solutions for both municipal and industrial sectors. With a team of over 1,600 professionals in more than 25 countries, the company impacts millions of lives daily. 

 

Over the past three decades, Wabag has constructed over 1,400 water and wastewater plants worldwide, offering customised solutions tailored to its clients’ needs. Wabag serves as a full life-cycle partner, handling design, engineering, supply, construction, installation, startup, and long-term operational management.

 

VA Tech Wabag share price history

VA Tech Wabag stock has outperformed the market in the last six months as it has risen 28 per cent, while gaining 167 per cent in the last one year. In comparison BSE Sensex has fallen 0.43 per cent in the last six months and 9.5 per cent in a year.

 

The company has a total market capitalisation of Rs 10,345.07 crore. Its shares are trading at a price to earnings multiple of 42.67 times at an earning per share of Rs 38.98. 

 

At 9:49 AM, the stock price of the company advanced by 4.92 per cent at Rs 1,662.20 a piece on the BSE. By comparison, the BSE’s Sensex was up 0.29 per cent to 78,698.48 level.