# Va Tech Wabag share price today (Va Tech Wabag Ltd, NSE: WABAG)

> Va Tech Wabag share price today: ₹1,794.60 at the NSE close on 3 November 2026, up 26.9% in a year. Va Tech Wabag (NSE: WABAG) is worth ₹11,221 crore, trades at a P/E of 28.1 and has closed between ₹1,061.10 and ₹2,276.90 over the past 52 weeks. > Va Tech Wabag Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. WABAG · Water Treatment · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/va-tech-wabag-ltd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹1,794.60 (+26.9% in a year)
- P/E: 28.1× (higher than 69% of the last 11 years)
- Revenue (Jun 2026): ₹887 Cr (+20.8% on a year ago)
- Profit (Jun 2026): ₹90.0 Cr (+36.4% on a year ago)
- Operating margin: 9.0% (−4.0 points on a year ago)
- ROCE: 21%, FY26
- ROIC: 19.1%, against a 12.0% cost of capital: +7.1 points

Biggest thing to watch: the P/E is higher than 69% of its own history, so the multiple has already done part of the work. ## What is the Va Tech Wabag share price today? Va Tech Wabag Ltd's share price was ₹1,794.60 at the close on 3 November 2026. It has been rising for 24 weeks. That is 2.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,061 and ₹2,277, and at that close it sat 60% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 5 weeks running. Over the last 11 years the share price moved +245% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 1 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Va Tech Wabag this quarter? Three changes stood out: revenue up on a year earlier for 11 quarters in a row (every quarter we can compare), profit up on a year earlier for 11 quarters in a row (every quarter we can compare) and lowest operating margin in 15 quarters. 1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹887 crore, +20.8% on a year earlier. Why: Revenue rose because the company carried out more of the projects it had already won, with Indian city water projects and the big Perur plant moving ahead. Next results: check whether project work stays on schedule, since management says revenue depends on executing the orders already won. From the earnings call on 13 Aug 2026. 2. Profit up on a year earlier for 11 quarters in a row (every quarter we can compare) In the June 2026 quarter profit was ₹90 crore, +36.4% on a year earlier. Why: Profit rose faster than sales partly because of foreign exchange gains, which the finance chief said are part of normal operating results. From the earnings call on 13 Aug 2026. 3. Lowest operating margin in 15 quarters Operating margin was 9% in the June 2026 quarter, against 13% a year earlier. Why: Margin fell because this year's work had more full construction contracts, which earn less than design work. Next results: check whether the margin gets back to management's stated range by watching project mix and scale benefits. From the earnings call on 13 Aug 2026. ## What are Va Tech Wabag's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Va Tech Wabag reported revenue of ₹887 crore, up 20.8% from ₹734 crore a year earlier, and a profit of ₹90.0 crore, up 36.4% from ₹66.0 crore. ### Va Tech Wabag results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹887 crore | ₹734 crore | +20.8% |
| Profit | ₹90.0 crore | ₹66.0 crore | +36.4% |
| Earnings per share | ₹14.45 | ₹10.58 | +36.6% |
| Operating margin | 9.0% | 13.0% | −4.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Va Tech Wabag's management discussed these results on a call held on 13 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Va Tech Wabag share price history? Va Tech Wabag closed at ₹1,794.60 on 3 November 2026, up 26.9% from ₹1,414.10 a year earlier (31 October 2025) and up 424.5% over five years. Its highest weekly close since March 2016 was ₹2,276.90 on 11 September 2026. ### Va Tech Wabag share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,710.45 | +4.9% |
| 1 month ago · 1 Oct 2026 | ₹2,005.60 | −10.5% |
| 6 months ago · 30 Apr 2026 | ₹1,509.60 | +18.9% |
| 1 year ago · 31 Oct 2025 | ₹1,414.10 | +26.9% |
| 3 years ago · 3 Nov 2023 | ₹500.90 | +258.3% |
| 5 years ago · 4 Nov 2021 | ₹342.15 | +424.5% |
| 10 years ago · 4 Nov 2016 | ₹463.60 | +287.1% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹520.15 | +245.0% |
| Highest weekly close since March 2016, also the 52-week high · 11 Sep 2026 | ₹2,276.90 | −21.2% |
| Lowest weekly close since March 2016 · 3 Apr 2020 | ₹75.40 | +2,280.1% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹1,061.10 | +69.1% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Va Tech Wabag? 3 Nov 2026: Va Tech Wabag closed at ₹1,794.60, up 4.9% on the week and down 10.5% on the month. 13 Aug 2026: Va Tech Wabag held its results call for April to June 2026. Management guided: Current-year revenue growth 15-20%. ### Earlier

- 17 Jul 2026: ex-date for a dividend of ₹5 a share. - Results for April to June 2026: Revenue up 20.8% and profit up 36.4% on a year earlier. ## What dividend does Va Tech Wabag pay? Va Tech Wabag paid ₹5 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.28% at the ₹1,794.60 close on 3 November 2026. The last was a dividend of ₹5 a share, ex-date 17 July 2026. ### Va Tech Wabag dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 17 Jul 2026 | ₹5 | Dividend |
| 5 Aug 2025 | ₹4 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 1 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Va Tech Wabag Ltd paid out 8% of its profit as dividends in FY26, and it paid a dividend in 8 of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Va Tech Wabag management say on the latest results call? On the call for April to June 2026, held on 13 August 2026, Va Tech Wabag's management guided: Current-year revenue growth 15-20%. > Skandaprasad Seetharaman, on the call for April to June 2026

### What management guided

- Current-year operating margin realistically 13-14%; 15% remains an aspiration and the medium-term framework stays 13-15% pending Wabag 2.0. - Order backlog maintained above 3x revenue. - Working capital days held in the 100-110 range despite growth, with further reduction planned. - O&M revenue to grow as completed projects transition into operations. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/5726/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 13 August 2026.)

## What is the future of Va Tech Wabag? What is changing in the business? What is changing at Va Tech Wabag, from the latest results and calls: backlog conversion, o&m mix expansion and gcc and international project platform. - Backlog conversion. Closing backlog and latest order intake provide execution visibility, subject to project milestones and payment discipline. ⚠ estimate
- O&M mix expansion. Completed projects entering O&M can increase recurring revenue and reduce dependence on EPC phasing. ⚠ estimate
- GCC and international project platform. Kuwait, Saudi Arabia and other international projects widen the addressable market but introduce award and execution timing risk. ⚠ estimate
- Technology-led bid selectivity. Technology screening and selective bidding can protect project economics if delivered margin and collections confirm it. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the April to June 2026 results, written 22 August 2026.)

## What could change the Va Tech Wabag story? What are the risks? A sustained failure to convert backlog into revenue and cash, evidenced by lower order intake, operating margin at or below normalized levels, and further receivables-led cash absorption, would invalidate the thesis. ### Each change stops working if

- Backlog conversion: New intake does not replenish backlog or existing international projects slip beyond planned execution schedules. - O&M mix expansion: Commissioning is delayed or O&M transition does not raise reported revenue mix over successive quarters. - GCC and international project platform: Preferred-bidder positions do not become signed orders or geopolitical events delay execution without recovery. - Technology-led bid selectivity: Competitive bidding lowers project economics or provisions rise faster than revenue. ### The main risks

- Receivables-led cash absorption: Cash conversion weakened in the latest fiscal year as receivables and working capital absorbed operating cash. ✓ fact
- Project milestone and award slippage: Hadda and the Saudi project descriptions show that expected project timing should not be treated as contracted revenue. ✓ fact
- Margin-engine uncertainty: Project mix and provisions explain the latest margin change, but the operating mechanism needs repeated clean quarters. ✓ fact

(Our read after the April to June 2026 results, written 22 August 2026.)

## What to watch in Va Tech Wabag's next results? When Va Tech Wabag reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Current-year operating margin to remain within the stated range - check project mix, scale benefits and movement toward the upper end. - What to check (from the call)
- Current-year operating margin to remain within the stated range - check project mix, scale benefits and movement toward the upper end. - Perur to enter commissioning over coming quarters - check completion pace and revenue recognition. - New O&M operations to lift mix - check Ghaziabad, Bhagalpur and Kudungaiyur transition progress. - MEA execution and Saudi bid pipeline to remain resilient - check schedules, force-majeure cost recovery, Hadda and LTOIM disclosures. ## Which stock lists is Va Tech Wabag on? Va Tech Wabag is not on any of our India lists this week. ## Is Va Tech Wabag profitable? Va Tech Wabag Ltd earned ₹90.0 Cr of net profit in the Jun 2026 quarter, +36.4% on the same quarter a year earlier. That is the 9th quarter in a row of profit growth. Full-year FY26 profit was ₹370 Cr. Over 10 years profit has grown 15.2% a year on average. That is 10.1% of the quarter's revenue. The same quarter a year earlier earned ₹66.0 Cr. For the full year, FY26 profit was ₹370 Cr (+25.4% on the year before). Why profit moved: revenue changed +20.8% on a year earlier and the margin moved −4.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +29.0% and revenue +20.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Va Tech Wabag make, and is it growing? Va Tech Wabag Ltd reported ₹887 Cr of revenue in the Jun 2026 quarter, +20.8% on the same quarter a year earlier. That is the 11th quarter in a row with growth on the year before. Over 10 years it has grown 4.6% a year on average. The last full year, FY26, came in at ₹3,944 Cr. Why this happened. The latest call reported a closing backlog over four times revenue and orders across execution phases. This supports revenue visibility, although specific Saudi award timing remains uncertain. The last four reported quarters add to ₹4,096 Cr. FY26 revenue was ₹3,944 Cr, +19.7% on the year before. Recent pace: the last four quarters grew +20.2% on average, against 4.6% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +20.4%, against +18.3% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +28.8%, against +24.1% a year (accelerating). ## How much of every ₹100 of sales does Va Tech Wabag keep? Va Tech Wabag Ltd's operating margin was 9.0% in the Jun 2026 quarter, 4.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 7.0% and 13.0%. The latest quarter is within that range. Why this happened. Management described proprietary technology, project screening and lifecycle-cost bidding as the basis for selectivity. The thesis needs evidence that this discipline converts into operating profit rather than only backlog. Why the margin moved: operating margin changed −4.1 percentage points on the year while gross margin changed −0.5 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Va Tech Wabag's profit turning into cash? Over the last 3 years, 76% of Va Tech Wabag Ltd's reported profit came in as cash from its operations, so most of the profit is real cash. In FY26 it brought in ₹207 Cr of operating cash against ₹370 Cr of profit. After ₹5.0 Cr of spending on assets, ₹202 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 76% of profit came in as cash: the cash cycle got 60 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 60 days longer. The next section looks at where the cash is stuck. ## Where does Va Tech Wabag's cash go? Va Tech Wabag Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 234 days in FY26, up from 174 days in FY21. It spent ₹11.0 Cr on assets over the last 3 years. Why this happened. Management reported O&M at 18% of revenue and described Ghaziabad and Bhagalpur moving into O&M. The mix shift becomes material only when it persists in reported revenue. At FY26 sales of ₹3,944 Cr, each day of that cycle ties up about ₹10.8 Cr, so roughly ₹2,528 Cr is tied up in the business at any time. Spending on assets: ₹11.0 Cr over the last 3 years, against ₹20.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Va Tech Wabag's P/E ratio, and how does it compare with its own history? Va Tech Wabag Ltd's P/E is 28.1×, in the middle of its own history: higher than 69% of past readings. Its usual P/E (the middle reading) is 17.3×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +25.2% while the price moved +26.9%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +39.3% a year; about +26.9% a year came from earnings growth and about +12.4 percentage points from the multiple (the market paying more); over 10 years the price moved +14.5% a year; about +11.6% a year came from earnings growth and about +2.9 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Va Tech Wabag share price assume? Worked out from its price on 26 August 2026, Va Tech Wabag Ltd's share price assumed profit growth of about 18.2% a year. Over the past 10 years its profit actually grew 15.2% a year. Today its P/E is 28.1×, higher than 69% of its own last 11 years. This is a one-day reading, taken on 26 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Va Tech Wabag business getting better or worse? Va Tech Wabag Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 20.1%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the Va Tech Wabag story, and has it been checked? Va Tech Wabag Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: Not stated in the research file. What is proven. See the research file

What is not proven yet. A sustained failure to convert backlog into revenue and cash, evidenced by lower order intake, operating margin at or below normalized levels, and further receivables-led cash absorption, would invalidate the thesis. What would change our mind. A sustained failure to convert backlog into revenue and cash, evidenced by lower order intake, operating margin at or below normalized levels, and further receivables-led cash absorption, would invalidate the thesis. The test written in advance. A sustained failure to convert backlog into revenue and cash, evidenced by lower order intake, operating margin at or below normalized levels, and further receivables-led cash absorption, would invalidate the thesis. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. Receivables-led cash absorption. Measured by: Receivables-led cash absorption OCF/PAT remains below the three-year figure and receivable days continue increasing. by the next result. What the company does. Latest-quarter revenue and reported profit grew year on year, supported by project execution and a large backlog. The operating question is whether O&M transition and international execution can offset the lower latest-quarter operating margin. Lever 2 · Value-added mix: building. Completed projects entering O&M can increase recurring revenue and reduce dependence on EPC phasing. What proves it keeps working: O&M mix expansion. It stops working if Commissioning is delayed or O&M transition does not raise reported revenue mix over successive quarters. Lever 10 · New geographies: building. Kuwait, Saudi Arabia and other international projects widen the addressable market but introduce award and execution timing risk. What proves it keeps working: GCC and international project platform. It stops working if Preferred-bidder positions do not become signed orders or geopolitical events delay execution without recovery. Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Va Tech Wabag management deliver what it promised? What Va Tech Wabag Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Apparent Al-Haer Project Status Regression · 13 August 2026. The Feb 2026 and May 2026 calls described the Saudi Al-Haer project as advancing rapidly, with construction completed and commissioning expected. The latest call describes a similarly named project, transcribed as {? Al Hayl ?}, as still having installation underway, an apparent reversal in execution stage with no explanation; the project name should be verified against the source audio. Hadda Award Timing Has Slipped · 13 August 2026. Management indicated in Feb 2026 that the Hadda award could occur within FY26 and in May 2026 that the Saudi award might occur in the following quarter. By Aug 2026, the latest call still described Hadda only as a preferred EPC partner and did not explain why the expected award had not materialized, creating a material timing risk for order inflow and backlog conversion. Perur Desalination Project Milestones · 25 May 2026. Management prematurely claimed the complete completion of all marine activities at the JICA-funded Chennai Perur Desalination Plant in the Nov 2025 call. However, subsequent calls in Feb 2026 and May 2026 revealed that the critical marine work was still incomplete and in progress. Semiconductor Market Opportunity Tempering · 6 February 2026. In the November 2025 call, management aggressively touted the Ultra-Pure Water opportunity for semiconductors and solar as a INR 3,500 crore market available in the next 3-5 years, positioning themselves as leading players. However, in the February 2026 call, they walked back the domestic semiconductor enthusiasm, stating fabrication units are taking time and current opportunities are restricted to assembly units which have 'lesser water requirement'. Earlier call (Nov 2025): “We are talking somewhere around 100 to 150 MLD of Ultra-Pure Water in the next 3 to 5 years time line. And roughly, you can say that this will be a market of around, say, INR3,500 crore. ... WABAG is ideally positioned to become a leading player in this fast-growing market.” Later call (Feb 2026): “Fabrication is some of those possibilities which were there, that is taking some time... In India now mostly it is assembly part which has a lesser of water requirement.”

Every quote above is taken word for word from the company’s own earnings calls. ## How much does Va Tech Wabag earn on its capital? Va Tech Wabag Ltd earned a ROCE of 21% in FY26. That is up from a low of 11% in FY19. Its return on capital used (ROIC) is 7.1 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 9.4% net margin and 0.64× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 9.4% net margin × 0.64× asset turnover × 2.38× leverage (assets divided by equity) ≈ 14.3% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 19.1% − 12.0% = +7.1 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 19.1% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 21.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Va Tech Wabag have too much debt? Va Tech Wabag Ltd has total debt of ₹228 Cr against shareholder equity of ₹2,574 Cr as of Jun 2026, so its debt is 0.09× its equity, which is very little. Year by year, that ratio went from 0.29 in FY22 to 0.09 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Va Tech Wabag shareholding pattern? Foreign institutions raised their stake in Va Tech Wabag Ltd by 4.1 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 18.8% of the company. Domestic institutions moved +2.3 points over the same period, to 5.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: +4.1 points over 8 quarters, to 18.8%; Domestic institutions: +2.3 points over 8 quarters, to 5.9%; Promoters: −0.1 points over 8 quarters, to 19.0%. Promoters own under 20%, so this is a widely owned company where institutions, not a family, have the most say. Why the owners changed: foreign institutions drove it (+4.1 points), together with domestic institutions (+2.3 points). They raised their stake step by step. ## How far is Va Tech Wabag from balance-sheet trouble? For Va Tech Wabag Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Va Tech Wabag rank in its industry? 67.6 out of 100, rank 1 of 4 in Water Treatment, with 97% of the evidence available. Va Tech Wabag Ltd scores 67.6 out of 100 against the 4 companies it is compared with in Water Treatment, ranking 1. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. The four parts add up to the total exactly: 24.1 + 19.1 + 10.4 + 14 = 67.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Va Tech Wabag compared with? Va Tech Wabag ranks 1 of 4 Water Treatment companies on the 4-Factor Sector Score, with 67.6 out of 100. 1. Va Tech Wabag Ltd this page WABAG · quiet · Most evidence points up · 97% evidence 67.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.1/35 · Revenue 20.4% · Profit 28.8% · Operating margin change -4 points · 100% evidence Capital efficiency 19.1/25 · ROCE 21.3% · Operating margin 9% · 100% evidence Valuation 10.4/20 · P/E 28.4× · PEG 1.33 · 85% evidence Relative strength 14.0/20 · Lead over its industry 7.1% · Lead over NIFTY 500 19.3% · 1 year 27.9% · 100% evidence · 6 of 12 weeks ahead Exact sum: 24.1 + 19.1 + 10.4 + 14 = 67.6 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Welspun Enterprises Ltd](https://www.sectoralpha.in/stocks/welspun-enterprises-ltd) WELENT · leader · Evidence leans down · 79% evidence 49.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 6.4/35 · Revenue -1.8% · Profit 0.9% · Operating margin change -2 points · 95% evidence Capital efficiency 17.4/25 · ROCE 16.7% · Operating margin 19% · 76% evidence Valuation 7.1/20 · P/E 24.2× · PEG n/a · 35% evidence Relative strength 18.4/20 · Lead over its industry 3.2% · Lead over NIFTY 500 15.8% · 1 year 10.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 6.4 + 17.4 + 7.1 + 18.4 = 49.3 · What this means: Relative strength against the index is 15.8%, and revenue and profit growth are weak. 3. [Jash Engineering Ltd](https://www.sectoralpha.in/stocks/jash-engineering-ltd) JASH · losing its lead · Evidence leans down · 88% evidence 45.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.8/35 · Revenue 1.4% · Profit 5.2% · Operating margin change 8.6 points · 74% evidence Capital efficiency 12.8/25 · ROCE 17.7% · Operating margin 5.4% · 100% evidence Valuation 3.7/20 · P/E 35.4× · PEG 2.84 · 85% evidence Relative strength 14.9/20 · Lead over its industry -0.7% · Lead over NIFTY 500 12.1% · 1 year -0.5% · 100% evidence · 11 of 12 weeks ahead Exact sum: 13.8 + 12.8 + 3.7 + 14.9 = 45.2 · What this means: Relative strength against the index is 12.1%, and revenue and profit growth are weak. 4. [Ion Exchange (India) Ltd](https://www.sectoralpha.in/stocks/ion-exchange-indialtd) IONEXCHANG · quiet · Most evidence points down · 97% evidence 17.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 6.5/35 · Revenue 10.2% · Profit -53.8% · Operating margin change -6.2 points · 100% evidence Capital efficiency 9.3/25 · ROCE 14.2% · Operating margin 4.5% · 100% evidence Valuation 1.6/20 · P/E 45.1× · PEG 6.32 · 85% evidence Relative strength 0.0/20 · Lead over its industry -18% · Lead over NIFTY 500 -6.5% · 1 year -15.5% · 100% evidence · 4 of 12 weeks ahead Exact sum: 6.5 + 9.3 + 1.6 + 0 = 17.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Jun 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Water Treatment](https://www.sectoralpha.in/sectors/water-treatment), all 4 compared on one page. ## Which companies are close to Va Tech Wabag in size? Va Tech Wabag is the largest of 4 Water Treatment companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Welspun Enterprises, Ion Exchange (India) and Jash Engineering. ### Water Treatment companies close in size

1. Va Tech Wabag Ltd ₹11,330 crore
2. [Welspun Enterprises Ltd](https://www.sectoralpha.in/stocks/welspun-enterprises-ltd) ₹8,569 crore
3. [Ion Exchange (India) Ltd](https://www.sectoralpha.in/stocks/ion-exchange-indialtd) ₹4,963 crore
4. [Jash Engineering Ltd](https://www.sectoralpha.in/stocks/jash-engineering-ltd) ₹3,053 crore

[All 4 Water Treatment companies, largest first](https://www.sectoralpha.in/sectors/water-treatment#all-companies)

### Companies close in size in other industries

1. [Manorama Industries Ltd](https://www.sectoralpha.in/stocks/manorama-industries-ltd) ₹11,338 crore · FMCG - Chocolate
2. [KSB Ltd](https://www.sectoralpha.in/stocks/ksb-ltd) ₹11,332 crore · Pumps
3. Va Tech Wabag Ltd ₹11,330 crore
4. [Metropolis Healthcare Ltd](https://www.sectoralpha.in/stocks/metropolis-healthcare-ltd) ₹11,320 crore · Diagnostics
5. [Bikaji Foods International Ltd](https://www.sectoralpha.in/stocks/bikaji-foods-international-ltd) ₹11,317 crore · FMCG - Snacks

## What else do people ask about Va Tech Wabag? ### What is Va Tech Wabag's share price today? Va Tech Wabag Ltd's share price is ₹1,794.60, +26.9% over the past year. The whole company is worth ₹11,221 Cr on the market. In the last 52 weeks it traded between ₹1,061 to ₹2,277; today it is 60% of the way up from the low, 2.3% above its 200-day average (as of 3 November 2026). ### What were Va Tech Wabag's latest quarterly results? Va Tech Wabag Ltd reported revenue of ₹887 Cr and net profit of ₹90.0 Cr for the Jun 2026 quarter. Revenue rose 20.8% and profit rose 36.4% compared with a year earlier. Earnings per share were ₹14.45. The operating margin was 9.0%, 4.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Va Tech Wabag's market cap? Va Tech Wabag Ltd's market capitalisation is ₹11,221 Cr at a share price of ₹1,794.60. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Va Tech Wabag performing? Va Tech Wabag Ltd's share price has been rising for 24 weeks. In its latest quarter, revenue rose 20.8% and profit rose 36.4% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 5 weeks running (as of 3 November 2026). ### Will Va Tech Wabag's share price go up? This page does not forecast Va Tech Wabag Ltd's share price. What it shows instead: the share price is ₹1,794.60, and it has been rising for 24 weeks. Its P/E of 28.1× is higher than 69% of its own last 11 years (as of 3 November 2026). ### Who owns Va Tech Wabag? Promoters own 19.0% of Va Tech Wabag Ltd, foreign institutions 18.8%, domestic institutions 5.9% and the public 56.3% (latest quarter). The biggest change over the last two years: Foreign institutions raised their stake by 4.1 percentage points over 8 quarters (as of 3 November 2026). ### Does Va Tech Wabag have too much debt? No, Va Tech Wabag Ltd has little debt: its debt is 0.09× its equity, and its operating profit is 7 times its interest bill. FY26 borrowings were ₹228 Cr against equity of ₹2,568 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Va Tech Wabag in its business cycle? Va Tech Wabag Ltd's FY26 operating margin was 12.0%, against a 13-year range of 7.0% to 13.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 9.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Va Tech Wabag story? Biggest thing to watch: the P/E is higher than 69% of its own history, so the multiple has already done part of the work. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Va Tech Wabag a stock worth studying right now? What the numbers show: Va Tech Wabag Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Va Tech Wabag share price forecast for 2026? What management itself guided: Current-year revenue growth 15-20%. What is changing at Va Tech Wabag, from the latest results and calls: backlog conversion, o&m mix expansion and gcc and international project platform. What would change the story: A sustained failure to convert backlog into revenue and cash, evidenced by lower order intake, operating margin at or below normalized levels, and further receivables-led cash absorption, would invalidate the thesis. This is research, not advice. We’re not SEBI-registered.