Synopsis: VA Tech Wabag shares gained after the company secured a large international wastewater treatment order in Georgia. The EIB-funded project strengthens its global footprint, adds medium-term revenue visibility, and highlights its execution strength in complex water infrastructure, with the total contract size estimated in the Rs 279 crore to Rs 697.5 crore range.
The shares of this company, which is engaged in the business of the water treatment field. Its principal activities include design, supply, installation, construction and operational management of drinking water, wastewater treatment, industrial water treatment and desalination plants, were in momentum today after bagging an order from United Water Supply Company of Georgia for a 19 MLD capacity wastewater treatment plant project in Kutaisi.
With a market cap of Rs 7,668 crore, the shares of Va Tech Wabag Ltd jumped about 4% in today’s trading session and reached a high of Rs 1,248.45. When compared to its previous day’s closing price of Rs 1202.95. The shares are trading at a PE of 22.2, whereas their industry’s PE is at 16.6, and they have given a return of about 400% in the last 5 years.
Large international order win
VA Tech WABAG won a consortium order from United Water Supply Company of Georgia for a 19 MLD capacity wastewater treatment plant project in Kutaisi. This is a fresh order win for the company from the international arena. The order is significant, as it is funded by the European Investment Bank and is expandable up to 56 MLD capacity, thereby adding more importance to the order win.
The order won by WABAG is classified as a “large” order from the international arena. For WABAG, large international orders fall within a range of USD 30-75 million, which is equivalent to Rs 279 crore to Rs 697.5 crore at an exchange rate of ₹93 per dollar.
Strategic Global Expansion
From an execution perspective, the scope appears wide. WABAG, as consortium leader, will undertake the scope for the design, engineering, supply, installation, and commissioning of the treatment systems. Additionally, WABAG will provide training for the client and supervise the operations and maintenance for 12 months after the completion of the contract. This means WABAG will have a presence throughout the entire project lifecycle.
The project is also significant due to the technical complexity involved. According to the company’s press release, the new plant will feature mechanical and biological treatment, nutrient removal through the activated sludge process, sedimentation, UV disinfection, sludge treatment plants, solar sludge drying plants, odour control plants, and associated pumping stations. This emphasises WABAG’s ability to undertake complex wastewater treatment solutions.
The contract is significant for WABAG from a strategic viewpoint too. This contract marks WABAG’s foray into Georgia and the CIS countries. In the press release, the company states that the contract strengthens WABAG’s global footprint and enhances WABAG’s presence in the global water infrastructure market. The EPC contract has to be completed within 36 months, and then the O&M phase will take 12 months.
Financials and order book
The revenue from operations for the company stood at Rs 961 crore in Q3 FY26 compared to the Q3 FY25 revenue of Rs 811 crore, up by about 18 per cent YoY. Similarly, the net profit stood at Rs 91 crore in Q3 FY26, up compared to the Rs 70 crore profit in Q3 FY25.
The company reported a strong order book exceeding Rs 16,300 crore, reflecting healthy demand visibility and a robust project pipeline. The order book has grown about 15% YoY, indicating a continued inflow of large contracts across its key business segments. A strong backlog of this scale provides long-term revenue visibility and execution stability, supporting the company’s growth outlook over the medium term while reinforcing confidence in its operational momentum.
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