VA Tech Wabag Q3 Review: ICICI Securities Reiterates 'Buy' On The Stock, Lowers Target Price — Here's Why

Wabag’s recent order inflows indicates a strategic shift towards larger, complex and higher margin projects, indicating potential medium-term margin improvement..NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.VA Tech Wabag Ltd.’s order inflow in Q3 FY25 stood at Rs 28 billion. The Al Haer Sewage Treatment Plant order (Rs 17.2bn) has partially allayed OI concerns post the cancellation of the 300 MLD Saudi Water Authority (SWA) tender worth Rs 27 billion (which was reopened last week with a bid submission deadline of eight weeks). Total order book swelled to Rs 143 billion – especially, EPC OB stands at Rs 76 billion – 2.5x book-to-bill ratio. Revenue growth during the quarter was +15% YoY with domestic revenues at Rs 5 billion (Rs 6.4 billion in H1 FY25). Wabag’s recent order inflows indicates a strategic shift towards larger, complex and higher margin projects, indicating potential medium-term margin improvement. We reiterate Byy on the stock with a revised target price of Rs 1,820 (versus Rs 1,980) at 25x FY27E earnings per share..Click on the attachment to read the full report:.Bharti Hexacom Q3 Review: ICICI Securities Maintains 'Hold' On The Stock, Lowers Target Price — Here's Why.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

VA Tech Wabag Q3 Review: ICICI Securities Reiterates 'Buy' On The Stock, Lowers Target Price — Here's Why

The brokerage reiterates Buy on the stock with a revised target price of Rs 1,820 (versus Rs 1,980) at 25x FY27E earnings per share.

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VA Tech Wabag Q3 Review: ICICI Securities Reiterates 'Buy' On The Stock, Lowers Target Price — Here's Why

The brokerage reiterates Buy on the stock with a revised target price of Rs 1,820 (versus Rs 1,980) at 25x FY27E earnings per share.

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