Opening Hook
Most centenarians are happy with cake and photo ops. VA Tech Wabag just celebrated its 100th year by pulling in ₹7,340 million revenue and a ₹158 billion order book—then went shopping for mega desalination projects like it’s at a Dubai mall sale. In a sector where payment delays and execution risk are the villains, Wabag is playing it asset-light, net cash positive for ten straight quarters. Why it matters? Because this “water company” now sits on global-scale contracts from Chennai to Saudi Arabia, proving it’s not just surviving a century—it’s gearing up for the sequel.
Stick around—things get spicier two scrolls down.
AT A GLANCE
• Revenue up 17.2% – demand pipeline still flowing
• EBITDA up 17.5% – margins holding at 13%
• PAT up 19.6% – profitability runs ahead of revenue
• Order intake ₹26 bn – KSA desal the crown jewel
• Net cash ₹6.27 bn – tenth straight quarter in the green
MANAGEMENT’S KEY COMMENTARY
On order book: “₹157.77 bn, up 15% YoY.” Translation – we’re booked out like Virat Kohli’s calendar.
On marquee wins: “300 MLD Yanbu SWA desalination, ₹20.4 bn.” Translation – desert water money is the new oil.
On margins: “EBITDA 13%.” Translation – project execution discipline still holding.
On global play: “83% of Q1 intake from overseas.” Translation – India’s nice, but foreign cheques clear faster.
On net cash streak: “10 quarters positive.” Translation – we build plants, not debt piles.
On
