Home / Business and Economy / VA Tech Wabag: India's Water Giant Eyes Global Growth
VA Tech Wabag: India's Water Giant Eyes Global Growth
16 Apr
Summary
- VA Tech Wabag, based in Chennai, has over a century of water management experience.
- The company has a robust order backlog of ₹15,100 crore as of December 2025.
- Analysts forecast PAT to grow at 17% CAGR over FY25-28E, setting a ₹1,755 target.
Headquartered in Chennai, VA Tech Wabag stands as a multinational leader in water technology, boasting over a century of expertise in sustainable water and wastewater management. The company offers a full spectrum of solutions, including desalination, wastewater treatment, recycling, reuse, ZLD, and waste-to-energy.
Wabag's diversified portfolio encompasses both municipal and industrial projects, contributing to sustainable infrastructure worldwide. With a presence in over 25 countries and a strong R&D foundation, it leverages proprietary technologies and engineering prowess to deliver customized solutions.
As of end-December 2025, VA Tech Wabag held a significant order backlog of ₹15,100 crore, equivalent to 4.1 times its trailing twelve months' revenue. The company anticipates a market opportunity of ₹40,000 crore in its operational markets over the next 12 to 18 months.
Analysts project a compound annual growth rate of 17% for the company's profit after tax (PAT) between FY25 and FY28. Currently trading at 20x and 18x its FY27 and FY28 earnings per share, respectively, the stock is valued at 23x its FY28E EPS, establishing a target price of ₹1,755. Coverage has been initiated with a BUY recommendation.
