Va Tech Wabag Ltd
Va Tech Wabag Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹1,414Cr
- +22.3% YoY
- Net profit
- ₹128Cr
- +28% YoY
- Margin
- 11%
- −1 pp YoY
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Va Tech Wabag Ltd Q4 FY26 key numbers
- Revenue
- India and Middle East/Africa markets remain key growth engines with large opportunities ($25 billion+ in India; $30 billion+ in Saudi Arabia).
As stated in Va Tech Wabag Ltd's Q4 FY26 earnings call transcript · published 2 Jun 2026. Reported figures, not investment advice.
The short version
VA Tech Wabag expects revenue growth of around 15% to 20% annually over the next 3-5 years. Revenue growth expected at 15% to 20% CAGR over the next 3 to 5 years.
From Va Tech Wabag Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- VA Tech Wabag expects revenue growth of around 15% to 20% annually over the next 3-5 years.
- Order backlog grew 26% year-over-year, indicating strong revenue visibility.
- India and Middle East/Africa markets remain key growth engines with large opportunities ($25 billion+ in India; $30 billion+ in Saudi Arabia).
- New large projects (e.g., Kodungaiyur, ring main, BPCL, Reliance, DJB) will drive revenue uplift.
- Revenue growth is expected to be lumpy due to EPC project phases; a 35% increase year-over-year is possible but will vary by project cycle.
- Growth will be supported by geographic diversification, enabling steady and sustainable returns.
2 more points from Va Tech Wabag Ltd's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- The company is focusing on being asset-light, investing primarily in human resources and technology (125+ patents/trademarks) rather than heavy physical assets like real estate or manufacturing equipment.
- Current capex is minimal since construction is often outsourced, emphasizing design, engineering, and operation internally.
- There are plans for small bolt-on acquisitions globally to enhance technology prowess, as confirmed by Rajiv Mittal.
- Technology investments focus on R&D for process improvements, such as crystallizing salts, using ceramic membranes to extend plant life, and reducing life-cycle costs.
- The company prioritizes building modular plants to replicate designs for faster construction and reduced re-engineering.
2 more points from Va Tech Wabag Ltd's call on capex
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Top-ranked in Other Utilities
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Current order book: INR 17,300 crore as mentioned on page 24.
- Order book composition: Approximately 60% from India and 40% from Rest of World (ROW).
- O&M orders form around 40% of the order backlog, valued at about INR 6,500 crore, with contracts ranging from 5 to 20 years.
- Order backlog has grown by 26% year-over-year, providing strong revenue visibility.
- Key large orders secured include mega projects like the 45 MLD TTRO plant and Chennai city-wide looped water grid.
2 more points from Va Tech Wabag Ltd's call on order book
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Va Tech Wabag Ltd — Quarterly revenue & net profit
Va Tech Wabag Ltd Q4 FY26 results — key figures
| ₹ Cr | Q4 FY26 | Q4 FY25 | YoY | Q3 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 1,414 | 1,156 | +22.3% | 961 | +47.1% |
| Operating profit (EBITDA) | 156 | 141 | +10.6% | 122 | +27.9% |
| Operating margin | 11% | 12% | -1 pp | 13% | -2 pp |
| Profit before tax | 170 | 131 | +29.8% | 121 | +40.5% |
| Net profit (PAT) | 128 | 100 | +28% | 91 | +40.7% |
| EPS (₹) | 20.59 | 16.00 | +28.7% | 14.72 | +39.9% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹1.0K Cr, net profit ₹104 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Va Tech Wabag's management said in earlier quarters
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- Greenleaf Envirotech (Q4 FY26)
Government allocation of INR 94,000 crore for water/wastewater infrastructure underpins steady demand. Key concall takeaways from Greenleaf Envirotech's Q4 FY26
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Current order book increased from INR 323 crores (March 31, 2026) to INR 447 crores (May 15, 2026). Key concall takeaways from Sattva Engineering Construction's
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Q4 FY2026 Net Sales:** ₹18.61 Cr . Key concall takeaways from Eco Recycling Ltd's Q4 FY26 earnings call — and how it ranks against sector peers.
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Va Tech Wabag Ltd Q4 FY26 results?
VA Tech Wabag expects revenue growth of around 15% to 20% annually over the next 3-5 years. Revenue growth expected at 15% to 20% CAGR over the next 3 to 5 years.
What is Va Tech Wabag Ltd share price analysis?
Va Tech Wabag Ltd currently shows a neutral. The stock trades at a P/E of 29.8 with a market cap of ₹11,888 Cr. Investors should review the full earnings analysis for detailed insights.
Is Va Tech Wabag Ltd planning capital expenditure?
The company is focusing on being asset-light, investing primarily in human resources and technology (125+ patents/trademarks) rather than heavy physical assets like real estate or manufacturing equipment.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.