Is the Water Treatment sector outperforming NIFTY 500?
The 52-week sector comparison is unavailable. 4 of 4 covered companies currently have positive Mansfield relative strength versus NIFTY 500.
20-quarter listed-company comparison
Water Treatment Stocks in India
Water Treatment: Va Tech Wabag Ltd owns the largest revenue base AND the fastest current growth.
Nifty Water Treatment Index — Constituents & Performance
The Water Treatment companies below are the listed Indian Water Treatment universe this page tracks — the same constituent set people search for as the Nifty Water Treatment index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.
The sector itself · before any single company
How has Water Treatment moved against NIFTY 500?
The line below covers 5.1 years. Over the most recent two of them this sector is 11% ahead of NIFTY 500. Earnings across its companies grew 1% on average over the last four reported quarters — close to flat. It has been ahead of NIFTY 500 on a rolling three-month view for 16 weeks running.
LEADER · ahead 16w~Moving with the index4 of 4 companies ahead of NIFTY 500 by 5% or more over three months
RS ↑16w · 4/4 >200d (+0) · 4/4 lead (+0) · EPS 2/4↑
Water Treatment, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Strength anatomy
Broad but lateHow much of the sector is participating, how recently, and whether the movers score well.
Together4 of 4 stocks moving
Fresh0 crossed in the last 4 weeks
Backed by scoresmovers score +0 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large
1/10
Mid
2/20
Small
1/10
Participation is not spreading downward this month; the larger companies are still carrying most of it.
Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 4 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
Sector relative strength · before individual stocks
Is Water Treatment outperforming NIFTY 500?
The 52-week comparison of Water Treatment against NIFTY 500 is not available from the current market series. 4 of 4 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Va Tech Wabag Ltd is the strongest against the sector itself at +14.8%. Readings are as of 2026-07-19.
—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
4/4Stocks leading NIFTY 500
2/4Stocks leading sector
Sector metric: 32.9 as of 2026-07-19 · CONSOLIDATION · falling.
The central tension: current leadership is concentrated, so durability matters more than rank.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
The 52-week sector comparison is unavailable. 4 of 4 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Va Tech Wabag Ltd leads with revenue of ₹3,943 crore, based on 4 of 4 comparable companies through Mar 2026. Va Tech Wabag Ltd has the fastest current revenue growth at 19.7%, across 4 of 4 comparable companies.
Which Water Treatment company is largest by revenue?
Va Tech Wabag Ltd leads with revenue of ₹3,943 crore, based on 4 of 4 comparable companies through Mar 2026.
Which Water Treatment company is growing fastest?
Va Tech Wabag Ltd has the fastest current revenue growth at 19.7%, across 4 of 4 comparable companies.
Which Water Treatment company has the strongest 4-Factor Sector Score?
Va Tech Wabag Ltd ranks first at 70.8/100 with 94% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Water Treatment company has the least gross debt?
Jash Engineering Ltd has the lowest comparable gross debt at ₹103 crore. Welspun Enterprises Ltd has the highest at ₹1,987 crore.
Which Water Treatment company has the lowest comparable PEG?
Jash Engineering Ltd has the lowest comparable Guarded PEG at 0.66, among 4 of 4 companies that pass the metric’s comparability rules.
How much history does this Water Treatment comparison include?
The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Companies
4
complete canonical membership
Combined market value
₹30.5K Cr
Va Tech Wabag Ltd
Revenue growing
3/4
positive TTM year-on-year growth
Beating NIFTY 500
4/4
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Va Tech Wabag Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 94% evidence confidence.
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.
1. Va Tech Wabag Ltd · WABAG
70.8/100 · Favorable setup · 94% evidence
Exact sum: 21.5 + 20.9 + 10.2 + 18.2 = 70.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21.5/35Growth & earnings
Revenue 19.7% · PAT 25.4% · OPM change -1 pp
95% evidence
20.9/25Capital efficiency
ROCE 21.3% · debt/equity 0.09×
95% evidence
10.2/20Valuation
P/E 34.1× · PEG 1.05
85% evidence
18.2/20Relative strength
RS sector 14.8% · RS bench 35.9% · 1Y 34%
100% evidence
2. Welspun Enterprises Ltd · WELENT
54.2/100 · Mixed-positive evidence · 94% evidence
Exact sum: 19.8 + 17.1 + 5.3 + 12 = 54.2
Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
19.8/35Growth & earnings
Revenue -2.2% · PAT 11% · OPM change 3 pp
95% evidence
17.1/25Capital efficiency
ROCE 16.8% · debt/equity 0.65×
95% evidence
5.3/20Valuation
P/E 21.1× · PEG 2.26
85% evidence
12.0/20Relative strength
RS sector 2% · RS bench 21.8% · 1Y 20.3%
100% evidence
3. Jash Engineering Ltd · JASH
46.0/100 · Mixed-negative evidence · 91% evidence
Exact sum: 8.3 + 17.4 + 12.3 + 8 = 46
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8.3/35Growth & earnings
Revenue 0.1% · PAT -12.6% · OPM change 4 pp
100% evidence
17.4/25Capital efficiency
ROCE 17.7% · debt/equity 0.2×
100% evidence
12.3/20Valuation
P/E 42.1× · PEG 0.66
85% evidence
8.0/20Relative strength
RS sector -14.1% · RS bench 13.9% · 1Y -14.8%
70% evidence
4. Ion Exchange (India) Ltd · IONEXCHANG
29.2/100 · Adverse evidence · 91% evidence
Exact sum: 5.3 + 11.8 + 2.6 + 9.5 = 29.2
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5.3/35Growth & earnings
Revenue 6.4% · PAT -31.6% · OPM change -8 pp
100% evidence
11.8/25Capital efficiency
ROCE 14.1% · debt/equity 0.36×
100% evidence
2.6/20Valuation
P/E 40.4× · PEG 6.32
85% evidence
9.5/20Relative strength
RS sector -3.4% · RS bench 10.9% · 1Y -20.7%
70% evidence
01 · compare level, then change
Revenue Scale & Growth Durability
Va Tech Wabag Ltd has the highest Revenue among the 4 Water Treatment companies compared here, at ₹3,943 crore. Welspun Enterprises Ltd is next at ₹3,615 crore. The same company also holds the highest Revenue growth, at 19.7%. 4 of 4 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Va Tech Wabag Ltd is the scale leader at ₹3,943 crore, 9.1% ahead of Welspun Enterprises Ltd. Va Tech Wabag Ltd's growth is 19.7% from a ₹3,943 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderVa Tech Wabag Ltd · ₹3,943 crore
Gap9.1% versus #2 · Welspun Enterprises Ltd
Persistence8/8 recent comparable periods
Coverage4/4 companies · 79 observations
Investor read: Va Tech Wabag Ltd is the scale benchmark; Va Tech Wabag Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: Va Tech Wabag Ltd's growth falls below Va Tech Wabag Ltd's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Va Tech Wabag Ltd WABAG₹3.9K Cr
2Welspun Enterprises Ltd WELENT₹3.6K Cr
3Ion Exchange (India) Ltd IONEXCHANG₹2.9K Cr
4Jash Engineering Ltd JASH₹737 Cr
Revenue growthfastest growers
1Va Tech Wabag Ltd WABAG20%
2Ion Exchange (India) Ltd IONEXCHANG6.4%
3Jash Engineering Ltd JASH0.1%
4Welspun Enterprises Ltd WELENT-2.2%
Revenue · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| Va Tech Wabag Ltd WABAG | ₹1.4K Cr | 22% | Mar 2026 |
| Welspun Enterprises Ltd WELENT | ₹1.2K Cr | 14% | Mar 2026 |
| Ion Exchange (India) Ltd IONEXCHANG | ₹863 Cr | 3.4% | Mar 2026 |
| Jash Engineering Ltd JASH | ₹291 Cr | -3.0% | Mar 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
₹314 Cr
₹378 Cr
₹388 Cr
₹496 Cr
₹382 Cr
₹448 Cr
₹512 Cr
₹647 Cr
₹479 Cr
₹533 Cr
₹554 Cr
₹782 Cr
₹568 Cr
₹644 Cr
₹691 Cr
₹835 Cr
₹583 Cr
₹734 Cr
₹734 Cr
₹863 Cr
Jash Engineering Ltd · JASH
₹45 Cr
₹61 Cr
₹104 Cr
₹157 Cr
₹46 Cr
₹72 Cr
₹114 Cr
₹169 Cr
₹64 Cr
₹95 Cr
₹139 Cr
₹217 Cr
₹115 Cr
₹140 Cr
₹181 Cr
₹300 Cr
₹128 Cr
₹158 Cr
₹160 Cr
₹291 Cr
Va Tech Wabag Ltd · WABAG
₹658 Cr
₹684 Cr
₹745 Cr
₹892 Cr
₹632 Cr
₹750 Cr
₹652 Cr
₹927 Cr
₹553 Cr
₹665 Cr
₹704 Cr
₹934 Cr
₹626 Cr
₹700 Cr
₹811 Cr
₹1.2K Cr
₹734 Cr
₹834 Cr
₹961 Cr
₹1.4K Cr
Welspun Enterprises Ltd · WELENT
₹372 Cr
₹303 Cr
₹242 Cr
—
₹763 Cr
₹530 Cr
₹692 Cr
₹845 Cr
₹699 Cr
₹646 Cr
₹707 Cr
₹821 Cr
₹930 Cr
₹815 Cr
₹896 Cr
₹1.1K Cr
₹845 Cr
₹784 Cr
₹787 Cr
₹1.2K Cr
Revenue growth · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
—
—
—
—
22%
19%
32%
30%
25%
19%
8.2%
21%
19%
21%
25%
6.8%
2.6%
14%
6.2%
3.4%
Jash Engineering Ltd · JASH
—
—
—
—
2.2%
18%
9.6%
7.6%
39%
32%
22%
28%
80%
47%
30%
38%
11%
13%
-12%
-3.0%
Va Tech Wabag Ltd · WABAG
—
—
—
—
-4.0%
9.7%
-12%
3.9%
-13%
-11%
8.0%
0.8%
13%
5.3%
15%
24%
17%
19%
19%
22%
Welspun Enterprises Ltd · WELENT
—
—
—
—
105%
75%
186%
—
-8.4%
22%
2.2%
-2.8%
33%
26%
27%
28%
-9.1%
-3.8%
-12%
14%
02 · compare level, then change
Operating Economics & Margin Trend
Jash Engineering Ltd has the highest OPM among the 4 Water Treatment companies compared here, at 24%. Welspun Enterprises Ltd is next at 20%. The same company also holds the highest Margin change, at +4 percentage points. 4 of 4 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Jash Engineering Ltd leads both opm at 24% and margin change at +4 percentage points.
LeaderJash Engineering Ltd · 24%
Gap20% versus #2 · Welspun Enterprises Ltd
Persistence3/8 recent comparable periods
Coverage4/4 companies · 80 observations
Investor read: Jash Engineering Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Jash Engineering Ltd JASH24%
2Welspun Enterprises Ltd WELENT20%
3Va Tech Wabag Ltd WABAG11%
4Ion Exchange (India) Ltd IONEXCHANG2.0%
Margin changefastest expanders
1Jash Engineering Ltd JASH+4.0 pp
2Welspun Enterprises Ltd WELENT+3.0 pp
3Va Tech Wabag Ltd WABAG−1.0 pp
4Ion Exchange (India) Ltd IONEXCHANG−8.0 pp
Operating margin · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Jash Engineering Ltd JASH | 24% | +4.0 pp | Mar 2026 |
| Welspun Enterprises Ltd WELENT | 20% | +3.0 pp | Mar 2026 |
| Va Tech Wabag Ltd WABAG | 11% | −1.0 pp | Mar 2026 |
| Ion Exchange (India) Ltd IONEXCHANG | 2.0% | −8.0 pp | Mar 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
11%
11%
11%
19%
8.6%
12%
12%
16%
10%
11%
13%
12%
11%
11%
11%
10%
11%
9.0%
8.0%
2.0%
Jash Engineering Ltd · JASH
-4.1%
4.9%
18%
17%
-3.3%
13%
18%
21%
-1.0%
15%
23%
24%
3.0%
18%
23%
20%
-3.0%
13%
11%
24%
Va Tech Wabag Ltd · WABAG
4.3%
8.3%
10%
8.0%
3.6%
7.2%
14%
12%
10%
13%
14%
12%
13%
13%
12%
12%
13%
11%
13%
11%
Welspun Enterprises Ltd · WELENT
8.4%
9.0%
6.1%
16%
5.1%
9.0%
10%
11%
15%
13%
18%
14%
18%
16%
18%
17%
21%
22%
20%
20%
Margin change · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
−0.3 pp
−0.0 pp
−1.7 pp
−0.1 pp
−2.8 pp
+1.4 pp
+1.0 pp
−3.1 pp
+1.4 pp
−0.9 pp
+1.0 pp
−4.0 pp
+1.0 pp
0.0 pp
−2.0 pp
−2.0 pp
0.0 pp
−2.0 pp
−3.0 pp
−8.0 pp
Jash Engineering Ltd · JASH
+0.9 pp
−6.7 pp
−2.3 pp
−6.4 pp
+0.7 pp
+8.1 pp
+0.4 pp
+3.6 pp
+2.3 pp
+2.0 pp
+5.0 pp
+3.0 pp
+4.0 pp
+3.0 pp
0.0 pp
−4.0 pp
−6.0 pp
−5.0 pp
−12.0 pp
+4.0 pp
Va Tech Wabag Ltd · WABAG
−2.4 pp
+1.2 pp
+1.3 pp
+0.4 pp
−0.7 pp
−1.1 pp
+3.9 pp
+4.0 pp
+6.4 pp
+5.8 pp
0.0 pp
0.0 pp
+3.0 pp
0.0 pp
−2.0 pp
0.0 pp
0.0 pp
−2.0 pp
+1.0 pp
−1.0 pp
Welspun Enterprises Ltd · WELENT
−1.3 pp
−1.5 pp
−3.7 pp
+3.7 pp
−3.3 pp
+0.1 pp
+3.9 pp
−4.6 pp
+9.9 pp
+4.0 pp
+8.0 pp
+3.0 pp
+3.0 pp
+3.0 pp
0.0 pp
+3.0 pp
+3.0 pp
+6.0 pp
+2.0 pp
+3.0 pp
03 · compare level, then change
Profit Scale & Acceleration
Welspun Enterprises Ltd has the highest Net profit among the 4 Water Treatment companies compared here, at ₹393 crore. Va Tech Wabag Ltd is next at ₹370 crore. Va Tech Wabag Ltd has the highest Profit growth at 25.4%, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Welspun Enterprises Ltd leads with ₹393 crore of TTM profit, 6.2% above Va Tech Wabag Ltd. Va Tech Wabag Ltd shows 25.4% growth from a ₹370 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderWelspun Enterprises Ltd · ₹393 crore
Gap6.2% versus #2 · Va Tech Wabag Ltd
Persistence4/8 recent comparable periods
Coverage4/4 companies · 79 observations
Investor read: Welspun Enterprises Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Welspun Enterprises Ltd WELENT₹393 Cr
2Va Tech Wabag Ltd WABAG₹370 Cr
3Ion Exchange (India) Ltd IONEXCHANG₹143 Cr
4Jash Engineering Ltd JASH₹76 Cr
Profit growthfastest growers
1Va Tech Wabag Ltd WABAG25%
2Welspun Enterprises Ltd WELENT11%
3Jash Engineering Ltd JASH-13%
4Ion Exchange (India) Ltd IONEXCHANG-32%
Net profit · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| Welspun Enterprises Ltd WELENT | ₹163 Cr | 55% | Mar 2026 |
| Va Tech Wabag Ltd WABAG | ₹128 Cr | 28% | Mar 2026 |
| Jash Engineering Ltd JASH | ₹57 Cr | 58% | Mar 2026 |
| Ion Exchange (India) Ltd IONEXCHANG | ₹24 Cr | -62% | Mar 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
₹24 Cr
₹27 Cr
₹28 Cr
₹83 Cr
₹28 Cr
₹39 Cr
₹48 Cr
₹81 Cr
₹33 Cr
₹42 Cr
₹47 Cr
₹72 Cr
₹45 Cr
₹51 Cr
₹50 Cr
₹63 Cr
₹48 Cr
₹50 Cr
₹21 Cr
₹24 Cr
Jash Engineering Ltd · JASH
₹-4 Cr
₹-1 Cr
₹14 Cr
₹23 Cr
₹-4 Cr
₹6 Cr
₹17 Cr
₹33 Cr
₹-3 Cr
₹9 Cr
₹23 Cr
₹39 Cr
₹0 Cr
₹16 Cr
₹35 Cr
₹36 Cr
₹-5 Cr
₹11 Cr
₹13 Cr
₹57 Cr
Va Tech Wabag Ltd · WABAG
₹15 Cr
₹26 Cr
₹44 Cr
₹46 Cr
₹30 Cr
₹47 Cr
₹47 Cr
₹-112 Cr
₹50 Cr
₹60 Cr
₹63 Cr
₹78 Cr
₹55 Cr
₹70 Cr
₹70 Cr
₹100 Cr
₹66 Cr
₹85 Cr
₹91 Cr
₹128 Cr
Welspun Enterprises Ltd · WELENT
₹26 Cr
₹23 Cr
₹13 Cr
—
₹49 Cr
₹133 Cr
₹402 Cr
₹142 Cr
₹93 Cr
₹69 Cr
₹80 Cr
₹78 Cr
₹110 Cr
₹62 Cr
₹77 Cr
₹105 Cr
₹101 Cr
₹98 Cr
₹31 Cr
₹163 Cr
Profit growth · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
—
—
—
—
17%
44%
71%
-2.4%
18%
7.7%
-2.1%
-11%
36%
21%
6.4%
-13%
6.7%
-2.0%
-58%
-62%
Jash Engineering Ltd · JASH
—
—
—
—
—
—
21%
43%
—
50%
35%
18%
—
78%
52%
-7.7%
—
-31%
-63%
58%
Va Tech Wabag Ltd · WABAG
—
—
—
—
100%
81%
6.8%
-343%
67%
28%
34%
—
10%
17%
11%
28%
20%
21%
30%
28%
Welspun Enterprises Ltd · WELENT
—
—
—
—
88%
478%
2,992%
—
90%
-48%
-80%
-45%
18%
-10%
-3.8%
35%
-8.2%
58%
-60%
55%
04 · not available
Capacity Spending & Returns On It
No company in this Water Treatment comparison reports capital expenditure on a comparable basis, so there is nothing to rank here — 0 of 4 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Mar 2026.
CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
05 · compare level, then change
Debt Load & Balance-Sheet Headroom
Jash Engineering Ltd has the lowest Gross debt among the 4 Water Treatment companies compared here, at ₹103 crore. Va Tech Wabag Ltd is next at ₹228 crore. Va Tech Wabag Ltd has the lowest Net debt at ₹831 crore net cash, so level and change sit with different companies.
What the numbers say: Va Tech Wabag Ltd has the clearest covered balance-sheet capacity with ₹831 crore net cash and gross debt of ₹228 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.
LeaderJash Engineering Ltd · ₹103 crore
Gap54.8% versus #2 · Va Tech Wabag Ltd
Persistence7/8 recent comparable periods
Coverage4/4 companies · 79 observations
Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.
This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.
Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Jash Engineering Ltd JASH₹103 Cr
2Va Tech Wabag Ltd WABAG₹228 Cr
3Ion Exchange (India) Ltd IONEXCHANG₹482 Cr
4Welspun Enterprises Ltd WELENT₹2.0K Cr
Net debtlowest net debt
1Va Tech Wabag Ltd WABAG₹-831 Cr
2Jash Engineering Ltd JASH₹-4 Cr
3Ion Exchange (India) Ltd IONEXCHANG₹163 Cr
4Welspun Enterprises Ltd WELENT₹266 Cr
Debt and balance-sheet capacity · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Gross debt | Net debt | Reported |
|---|---|---|---|
| Welspun Enterprises Ltd WELENT | ₹2.0K Cr | ₹266 Cr | Mar 2026 |
| Ion Exchange (India) Ltd IONEXCHANG | ₹482 Cr | ₹163 Cr | Mar 2026 |
| Va Tech Wabag Ltd WABAG | ₹228 Cr | ₹-831 Cr | Mar 2026 |
| Jash Engineering Ltd JASH | ₹103 Cr | ₹-4 Cr | Mar 2026 |
Full 20-quarter history · every available company
Gross debt · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
₹62 Cr
₹71 Cr
₹71 Cr
₹55 Cr
₹55 Cr
₹65 Cr
₹65 Cr
₹59 Cr
₹59 Cr
₹100 Cr
₹100 Cr
₹152 Cr
₹152 Cr
₹216 Cr
₹216 Cr
₹323 Cr
—
₹421 Cr
₹421 Cr
₹482 Cr
Jash Engineering Ltd · JASH
₹72 Cr
₹86 Cr
₹86 Cr
₹82 Cr
₹82 Cr
₹82 Cr
₹82 Cr
₹82 Cr
₹82 Cr
₹80 Cr
₹80 Cr
₹80 Cr
₹80 Cr
₹108 Cr
₹108 Cr
₹99 Cr
₹99 Cr
₹112 Cr
₹112 Cr
₹103 Cr
Va Tech Wabag Ltd · WABAG
₹358 Cr
₹490 Cr
₹490 Cr
₹436 Cr
₹436 Cr
₹383 Cr
₹383 Cr
₹219 Cr
₹219 Cr
₹283 Cr
₹283 Cr
₹289 Cr
₹289 Cr
₹428 Cr
₹428 Cr
₹362 Cr
₹362 Cr
₹240 Cr
₹240 Cr
₹228 Cr
Welspun Enterprises Ltd · WELENT
₹2.1K Cr
₹2.4K Cr
₹2.4K Cr
₹2.5K Cr
₹2.5K Cr
₹939 Cr
₹939 Cr
₹764 Cr
₹764 Cr
₹727 Cr
₹727 Cr
₹762 Cr
₹762 Cr
₹1.2K Cr
₹1.2K Cr
₹1.5K Cr
₹1.5K Cr
₹1.9K Cr
₹1.9K Cr
₹2.0K Cr
Net debt · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
₹-274 Cr
₹-399 Cr
₹-399 Cr
₹-283 Cr
₹-481 Cr
₹-465 Cr
₹-465 Cr
₹-281 Cr
₹-489 Cr
₹-451 Cr
₹-451 Cr
₹-218 Cr
₹-436 Cr
₹-275 Cr
₹-275 Cr
₹19 Cr
—
₹30 Cr
₹30 Cr
₹163 Cr
Jash Engineering Ltd · JASH
₹67 Cr
₹53 Cr
₹53 Cr
₹68 Cr
₹55 Cr
₹51 Cr
₹51 Cr
₹51 Cr
₹49 Cr
₹38 Cr
₹38 Cr
₹-3 Cr
₹-22 Cr
₹0 Cr
₹0 Cr
₹29 Cr
₹-15 Cr
₹-10 Cr
₹-10 Cr
₹-4 Cr
Va Tech Wabag Ltd · WABAG
₹10 Cr
₹254 Cr
₹254 Cr
₹34 Cr
₹34 Cr
₹89 Cr
₹89 Cr
₹-50 Cr
₹-49 Cr
₹-54 Cr
₹-54 Cr
₹-217 Cr
₹-217 Cr
₹-209 Cr
₹-209 Cr
₹-580 Cr
₹-580 Cr
₹-558 Cr
₹-558 Cr
₹-831 Cr
Welspun Enterprises Ltd · WELENT
₹1.8K Cr
₹2.0K Cr
₹2.0K Cr
₹2.3K Cr
₹2.1K Cr
₹696 Cr
₹696 Cr
₹-1.0K Cr
₹-1.1K Cr
₹-196 Cr
₹-196 Cr
₹54 Cr
₹-204 Cr
₹305 Cr
₹305 Cr
₹539 Cr
₹392 Cr
₹941 Cr
₹941 Cr
₹266 Cr
06 · compare level, then change
Return On Capital Employed
Va Tech Wabag Ltd has the highest ROCE among the 4 Water Treatment companies compared here, at 21.3%. Jash Engineering Ltd is next at 17.7%. Welspun Enterprises Ltd has the highest ROCE change at +2.1 percentage points, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Va Tech Wabag Ltd leads ROCE at 21.3%, 3.6 percentage points above Jash Engineering Ltd. Welspun Enterprises Ltd has the strongest latest improvement at +2.1 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderVa Tech Wabag Ltd · 21.3%
Gap20.3% versus #2 · Jash Engineering Ltd
Persistence2/8 recent comparable periods
Coverage4/4 companies · 59 observations
Investor read: Va Tech Wabag Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Va Tech Wabag Ltd WABAG21%
2Jash Engineering Ltd JASH18%
3Welspun Enterprises Ltd WELENT17%
4Ion Exchange (India) Ltd IONEXCHANG14%
ROCE changefastest improvers
1Welspun Enterprises Ltd WELENT+2.1 pp
2Va Tech Wabag Ltd WABAG−0.6 pp
3Ion Exchange (India) Ltd IONEXCHANG−8.2 pp
4Jash Engineering Ltd JASH−9.8 pp
Return on capital · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Va Tech Wabag Ltd WABAG | 15% | −0.6 pp | Mar 2026 |
| Jash Engineering Ltd JASH | 14% | −9.8 pp | Mar 2026 |
| Welspun Enterprises Ltd WELENT | 14% | +2.1 pp | Mar 2026 |
| Ion Exchange (India) Ltd IONEXCHANG | 8.4% | −8.2 pp | Mar 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
—
31%
—
27%
—
26%
—
26%
—
25%
32%
20%
29%
20%
26%
17%
22%
15%
18%
8.4%
Jash Engineering Ltd · JASH
—
23%
—
18%
—
20%
—
21%
—
23%
34%
24%
31%
25%
35%
24%
28%
20%
19%
14%
Va Tech Wabag Ltd · WABAG
—
13%
—
12%
—
12%
—
17%
—
18%
7.6%
17%
20%
17%
18%
15%
19%
14%
19%
15%
Welspun Enterprises Ltd · WELENT
—
3.9%
—
—
—
3.9%
—
8.5%
—
10%
21%
12%
18%
12%
17%
12%
18%
13%
16%
14%
ROCE change · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
—
—
—
—
—
−5.5 pp
—
−1.0 pp
—
−1.4 pp
—
−5.5 pp
—
−4.8 pp
−5.9 pp
−3.6 pp
−6.1 pp
−5.2 pp
−8.8 pp
−8.2 pp
Jash Engineering Ltd · JASH
—
—
—
—
—
−2.3 pp
—
+3.1 pp
—
+2.4 pp
—
+2.9 pp
—
+2.4 pp
+1.6 pp
+0.2 pp
−3.5 pp
−5.2 pp
−16.3 pp
−9.8 pp
Va Tech Wabag Ltd · WABAG
—
—
—
—
—
−1.6 pp
—
+4.7 pp
—
+6.0 pp
—
−0.4 pp
—
−0.8 pp
+10.7 pp
−1.5 pp
−0.9 pp
−2.5 pp
+0.7 pp
−0.6 pp
Welspun Enterprises Ltd · WELENT
—
—
—
—
—
0.0 pp
—
—
—
+6.5 pp
—
+3.5 pp
—
+1.1 pp
−3.6 pp
−0.4 pp
−0.6 pp
+1.3 pp
−1.4 pp
+2.1 pp
07 · compare level, then change
Valuation Against Growth & Quality
Jash Engineering Ltd has the lowest Guarded PEG among the 4 Water Treatment companies compared here, at 0.66×. Va Tech Wabag Ltd is next at 1.05×. Welspun Enterprises Ltd has the lowest P/E at 21.1×, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Jash Engineering Ltd has the lowest comparable Guarded PEG at 0.66×, 37.1% below Va Tech Wabag Ltd. Only 4 of 4 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderJash Engineering Ltd · 0.66×
Gap37.1% versus #2 · Va Tech Wabag Ltd
Persistence0/8 recent comparable periods
Coverage4/4 companies · 33 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Jash Engineering Ltd JASH0.7
2Va Tech Wabag Ltd WABAG1.1
3Welspun Enterprises Ltd WELENT2.3
4Ion Exchange (India) Ltd IONEXCHANG6.3
P/Elowest P/E
1Welspun Enterprises Ltd WELENT21.1
2Va Tech Wabag Ltd WABAG34.1
3Ion Exchange (India) Ltd IONEXCHANG40.4
4Jash Engineering Ltd JASH42.1
Valuation · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Guarded PEG | P/E | Reported |
|---|---|---|---|
| Ion Exchange (India) Ltd IONEXCHANG | 6.3 | 25.2 | Mar 2026 |
| Welspun Enterprises Ltd WELENT | 2.3 | 17.8 | Mar 2026 |
| Va Tech Wabag Ltd WABAG | 1.1 | 21.6 | Mar 2026 |
| Jash Engineering Ltd JASH | 0.7 | 38.4 | Mar 2026 |
Full 20-quarter history · every available company
Guarded PEG · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
0.4
0.4
0.4
0.3
0.9
1.7
1.2
—
1.7
1.8
—
—
1.2
2.3
—
—
6.3
—
—
—
Jash Engineering Ltd · JASH
—
—
0.6
—
—
—
1.1
0.6
—
—
1.1
2.0
—
1.2
0.9
—
—
2.8
—
0.7
Va Tech Wabag Ltd · WABAG
—
1.3
0.4
—
—
0.5
—
—
—
—
—
—
3.7
—
—
—
1.6
1.3
—
1.1
Welspun Enterprises Ltd · WELENT
—
—
—
—
—
—
—
—
—
—
—
—
2.4
1.2
2.5
—
2.5
—
2.3
—
P/E · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
21.3
23.3
20.4
16.1
16.0
18.9
22.5
25.3
30.8
37.7
40.1
36.3
43.0
45.9
44.3
31.7
37.8
28.2
26.7
25.2
Jash Engineering Ltd · JASH
20.4
19.6
17.7
19.8
23.1
30.3
25.7
23.9
26.4
30.8
33.9
33.4
39.5
37.3
45.5
40.0
41.0
38.3
34.6
38.4
Va Tech Wabag Ltd · WABAG
19.5
17.6
14.8
13.4
10.8
10.8
12.2
11.9
11.4
9.9
13.0
15.6
32.4
37.4
39.2
33.7
31.4
29.5
25.0
21.6
Welspun Enterprises Ltd · WELENT
13.0
11.5
12.4
14.7
15.7
22.0
21.8
11.2
13.5
14.2
14.7
12.3
19.3
23.2
24.6
20.5
21.1
19.9
19.1
17.8
08 · compare level, then change
Enterprise Value & Book Value
Welspun Enterprises Ltd has the lowest EV/EBITDA among the 4 Water Treatment companies compared here, at 9.9×. Va Tech Wabag Ltd is next at 12.8×. The same company also holds the lowest P/BV, at 2.72×. 4 of 4 companies report a comparable reading, the latest through Mar 2026. Its EV/EBITDA series carries 20 reported observations across the 20-quarter window.
What the numbers say: Welspun Enterprises Ltd leads both ev/ebitda at 9.9× and p/bv at 2.72×.
LeaderWelspun Enterprises Ltd · 9.9×
Gap22.7% versus #2 · Va Tech Wabag Ltd
Persistence0/8 recent comparable periods
Coverage4/4 companies · 80 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.
EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1Welspun Enterprises Ltd WELENT9.9
2Va Tech Wabag Ltd WABAG12.8
3Ion Exchange (India) Ltd IONEXCHANG14.6
4Jash Engineering Ltd JASH20.2
P/BVlowest P/BV
1Welspun Enterprises Ltd WELENT2.7
2Ion Exchange (India) Ltd IONEXCHANG4.7
3Va Tech Wabag Ltd WABAG5.0
4Jash Engineering Ltd JASH6.2
Enterprise and book valuation · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | EV/EBITDA | P/BV | Reported |
|---|---|---|---|
| Jash Engineering Ltd JASH | 20.2 | 4.8 | Mar 2026 |
| Ion Exchange (India) Ltd IONEXCHANG | 14.6 | 3.8 | Mar 2026 |
| Va Tech Wabag Ltd WABAG | 12.8 | 3.2 | Mar 2026 |
| Welspun Enterprises Ltd WELENT | 9.9 | 2.2 | Mar 2026 |
Full 20-quarter history · every available company
EV/EBITDA · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
12.0
12.6
11.1
8.4
8.4
10.3
13.0
15.0
18.8
23.3
24.7
21.8
25.0
27.1
26.8
18.8
21.6
16.7
16.2
14.6
Jash Engineering Ltd · JASH
12.6
12.3
11.0
13.1
15.0
19.1
17.0
16.2
18.5
21.5
23.6
23.4
26.1
24.6
29.6
28.0
26.1
23.6
21.1
20.2
Va Tech Wabag Ltd · WABAG
10.2
8.6
8.4
7.7
5.3
6.0
7.1
7.0
8.7
7.4
9.7
11.6
19.3
21.9
23.4
20.1
19.3
17.4
14.8
12.8
Welspun Enterprises Ltd · WELENT
7.6
10.9
12.7
14.6
14.8
12.2
13.0
13.1
12.9
8.5
9.1
7.4
10.4
12.3
13.6
11.1
10.5
10.5
11.1
9.9
P/BV · reported quarter history
Ion Exchange (India) Ltd · IONEXCHANG
8.4
6.9
5.6
4.4
5.1
4.5
5.7
7.6
9.2
9.1
9.2
8.3
10.1
9.4
8.7
6.3
7.7
4.9
4.3
3.8
Jash Engineering Ltd · JASH
4.9
4.9
3.5
4.3
4.7
5.1
5.2
5.4
7.3
6.8
7.7
8.4
10.8
7.6
9.7
9.8
10.1
7.3
6.0
4.8
Va Tech Wabag Ltd · WABAG
1.6
1.5
1.3
1.2
1.0
1.0
1.3
1.4
2.0
1.8
2.3
2.8
5.1
5.2
5.2
4.6
5.1
4.2
3.5
3.2
Welspun Enterprises Ltd · WELENT
1.1
0.9
0.8
0.7
0.8
1.0
1.3
1.1
1.7
1.8
2.1
1.9
2.9
3.3
3.4
2.7
3.2
2.7
2.6
2.2
09 · let price answer last
Market action
Va Tech Wabag Ltd has the strongest one-year price move in Water Treatment at +34%. It also leads on Mansfield relative strength against NIFTY at +35.9%. 4 of 4 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.
Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength
Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.
Before the conclusion · check the blind spots
What can make this comparison misleading?
This Water Treatment comparison names 5 specific ways its own evidence can mislead, all listed below. All 4 companies here report on comparable dates, so no rank carries a stale marker. 1 of the 8 ranked sections has fewer than three usable current readings. A high growth rate can still be a low-base artefact.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Thin comparisons: Capital expenditure have fewer than three usable current readings.
10 · the complete set
Which companies are included?
All 4 companies in the canonical Water Treatment membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.
AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.
| Company | Market value | Price | Priced to | Latest fundamentals | Source standing |
|---|---|---|---|---|---|
| Va Tech Wabag Ltd WABAGAHEAD20/26 WEEKS | ₹12.7K Cr | ₹2,041 | 2026-07-19 | Mar 2026 | Cross-checked |
| Welspun Enterprises Ltd WELENTAHEAD | ₹8.3K Cr | ₹599 | 2026-07-19 | Mar 2026 | Cross-checked |
| Ion Exchange (India) Ltd IONEXCHANGAHEAD19/26 WEEKS | ₹6.2K Cr | ₹425 | 2026-07-19 | Mar 2026 | Cross-checked |
| Jash Engineering Ltd JASHAHEAD | ₹3.2K Cr | ₹508 | 2026-07-19 | Mar 2026 | Cross-checked |
How each company's sources stand: Every company's second-feed figures reconcile against the primary source on overlapping reported periods, so nothing here is unverified or withheld.
Evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 4 Water Treatment companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Mar 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing4 cross-checked · 0 unverified · 0 withheld, of 4 graded companies.
A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.
Questions investors ask · short, speakable answers
Water Treatment company comparison FAQs
These 17 answers restate the Water Treatment comparison above in question form. Every one is computed from the same 4 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.
What is the Nifty Water Treatment index?
The Nifty Water Treatment index tracks India's listed Water Treatment companies as a single basket. This page follows the same 4 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Water Treatment sector rather than to its largest constituent. Figures are as of Mar 2026.
Which are the best Water Treatment stocks in India?
Ranked by this page's four-factor score, Va Tech Wabag Ltd places first among 4 listed Water Treatment companies, followed by Welspun Enterprises Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Mar 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Water Treatment stocks are listed in India?
This comparison covers 4 listed Water Treatment companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Mar 2026.
Which Water Treatment company is the biggest?
Va Tech Wabag Ltd is the largest, with trailing-twelve-month revenue of ₹3,943 crore, ahead of Welspun Enterprises Ltd at ₹3,615 crore. That covers 4 of 4 companies with comparable reporting through Mar 2026.
Which Water Treatment company is growing fastest?
Va Tech Wabag Ltd has the fastest revenue growth at 19.7% year on year, across 4 of 4 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.
Which Water Treatment company has the best profit margins?
Jash Engineering Ltd has the highest operating margin at 24%, from 4 of 4 comparable companies. Jash Engineering Ltd shows the biggest recent improvement, at +4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Water Treatment company makes the most profit?
Welspun Enterprises Ltd earns the most, at ₹393 crore of trailing-twelve-month net profit, from 4 of 4 comparable companies. Va Tech Wabag Ltd has the fastest profit growth at 25.4%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Water Treatment company earns the highest return on capital?
Va Tech Wabag Ltd leads on return on capital employed at 21.3%, across 4 of 4 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Water Treatment stock is the cheapest?
On guarded PEG — where a LOWER number is cheaper — Jash Engineering Ltd screens cheapest at 0.66×. Only 4 of 4 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Which Water Treatment company has the strongest balance sheet?
Jash Engineering Ltd carries the lowest comparable gross debt at ₹103 crore, from 4 of 4 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.
Which Water Treatment stock has the strongest price momentum?
Va Tech Wabag Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Water Treatment company scores highest for research priority?
Va Tech Wabag Ltd scores 70.8 out of 100 with 94% evidence confidence, from 21.5 points on growth and earnings, 20.9 on capital efficiency, 10.2 on valuation and 18.2 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Water Treatment companies does this comparison cover, and over what period?
It compares 4 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Water Treatment sector?
The 4 Water Treatment companies on this page carry ₹30,474 crore of combined market value. Va Tech Wabag Ltd is the largest at ₹12,741 crore, about 42% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.
How is the Water Treatment sector performing?
4 of the 4 covered Water Treatment companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.