VA Tech Wabag - Strong Accretion Of Orders In FY23; Margins To See Uptick: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Desalination is gaining foothold in India and VA Tech Wabag Ltd. has the largest market share in building and operating desalination plants in the country. It was the engineering, procurement and construction contractor for the country’s largest desalination plant, in Nemmeli, Chennai, for which it is also doing operations and maintenance. .View and Valuation:Ordering opportunity in the water segment is likely to remain strong on back of:Namami Gange phase-II project,order inflow from industries due to ‘zero liquid discharge’ requirements,pick-up in water desalination and water treatment plants in overseas markets, especially Middle East and Russia.Va Tech Wabag is looking to drive growth by focusing on desalination and water reuse segments where competitive intensity is low. Moreover, the book to bill ratio of four times FY23 revenues (highest in its history) bodes well for revenue visibility.We introduce FY25 estimates and maintain 'Buy' with revised target price of Rs 612 per share..Click on the attachment to read the full report:.Voltamp Transformers - Near-Term Outlook Stays Positive: Yes Securities.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

VA Tech Wabag - Strong Accretion Of Orders In FY23; Margins To See Uptick: ICICI Securities

Ordering opportunity in the water segment is likely to remain strong.

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