PESB research view: HoldStock
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PESB recommendation · Stock
₹1,794.60▼ 32.50 (−1.78%) todayNSE · as of 3 Nov 2026, 5:30 am
Recommended on 5 Feb 2026 by Aman Bansal
Our recommendation read against today's market data.
VA Tech Wabag Ltd is a technology led water solutions company focused on designing, building and operating water and wastewater infrastructure across municipal and industrial segments. Its business spans EPC projects in sewage treatment, desalination, industrial effluent and ultra pure water, complemented by a growing O&M and annuity portfolio that improves margin stability and cash flows.
We remain constructive on WABAG, with the record ₹19,400 Cr order book, strong international order intake and expanding O&M base providing substantial visibility for sustained growth. Near-term margins are likely to remain around 13-14%, reflecting the current EPC-heavy mix, but the increasing contribution from O&M and higher-value international projects should support gradual margin improvement. We expect VA Tech WABAG to deliver strong and increasingly higher-quality growth over the next 3-5 years.
Research by Pune E-Stock Broking Ltd., SEBI Research Analyst Reg. No. INH000018197. Investments in the securities market are subject to market risks; read all related documents carefully before investing. Past performance is not indicative of future returns.
Market data from Accord; delayed, for information only.
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