VA Tech Wabag - Healthy Order Book, Strong Execution To Drive Growth: HDFC Securities Initiates Coverage

HDFC Securities Retail Research

Va Tech Wabag Ltd. is one of the experienced players with strong presence of more than 25 years engaged in water technology and providing customized water treatment solutions through engineering, procurement, and construction services, operations and maintenance services, research and development, construction and commissioning.

The order-book of the company is well diversified in various segments of municipal and industrial projects, with its world-wide presence across various continents.

The company recently has won a design-build-operate order in Bangladesh worth Rs 800 crores fully funded by World Bank and AIIB, the scope of which includes design, engineering, supply, construction, installation and commissioning of the 200 million litres per day sewage treatment plant followed by operation and maintenance for a period of 60 months.

Wabag is also diversifying its business by entering into Zero Liquid Discharge which is likely to witness steady growth over the years as authorities have tightened discharge monitoring and control.

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