VA Tech Wabag Ltd

Kuwait SWRO contract details

• Contract signed for the Doha SWRO Desalination Plant with Recarbonation Stage II in Kuwait.
• Awarded by Kuwait's Ministry of Electricity, Water & Renewable Energy in June 2026.
• Delivery via a WABAG-led unincorporated joint venture with Heavy Engineering Industries & Shipbuilding Company.
• Capacity: 60 MIGD (approx. 272 MLD); construction 36 months, followed by 5-year O&M.
• Includes on-site solar PV to meet part of energy needs.
• First Kuwait project; strengthens WABAG's GCC presence.
• Contract execution now formalizes project commencement.

Meeting Details

• Date and time: August 27, 2026 from 9:00 AM IST onwards.
• Type and mode: Group meeting, in-person.
• Organizer: VA TECH WABAG LIMITED.
• Location: In-person at Chennai.

Participants

• Company management/representatives to participate in the meeting.

Purpose

• Purpose: site visit to Chennai plants for investor interaction.

Additional Notes

• Public-domain presentations will be used.

Meeting Details

• Date: August 13, 2026.
• Time: not disclosed.
• Type/Mode: Group earnings conference call, virtual.
• Organizer: VA Tech Wabag Limited.

Participants

• Key company participants: Group Chief Financial Officer (CFO).
• Key company participants: Head, Strategy and Business Growth, GCC.

Purpose

• Earnings results discussion for Q1 FY27.
• Investor Q&A session.

Additional Notes

• Transcript will be archived and available on the company website.
• Results update presentation updated on website and stock exchanges.

Meeting Details

• Date: August 13, 2026; time not disclosed.
• Type: group conference call; Mode: virtual audio.
• Event: Q1 FY27 Results Conference Call conducted by VA TECH WABAG LIMITED.
• Purpose: discuss unaudited Q1 FY27 results (standalone and consolidated).
• Recording available: audio of the conference call posted on company website.

Participants

• Key participants from company not disclosed in filing.

Purpose

• Discuss Q1 FY27 unaudited results.

Additional Notes

• Recording of conference call available on the company website; no links included.

AGM Details

• 31st AGM held Aug 12, 2026 at 4:30 PM IST via VC/OAVM.
• Quorum present; meeting conducted through VC/OAVM.
• Voting eligibility cut-off: Aug 5, 2026.
• Remote e-Voting window: Aug 7–Aug 11, 2026.

Resolutions

• Adoption of audited standalone and consolidated financial statements (Ordinary).
• Declaration of final dividend of ₹5 per equity share (Ordinary).
• Appointment of S. Varadarajan as director liable to retire by rotation (Ordinary).
• Approval for remuneration payable to Rohan Mittal (Related Party) (Ordinary).
• Ratification of remuneration payable to Cost Auditor for FY2025-26 (Ordinary).
• Appointment of Samaresh Parida as Independent Director (Special).

Voting Results

• All six resolutions passed with requisite majority.
• No significant dissent or failed resolutions reported.

Dividend

• Final dividend of ₹5 per equity share approved.

Director Changes

• S. Varadarajan appointed as Director liable to retire by rotation.
• Samaresh Parida appointed as Independent Director.

Auditors

• Cost Auditor remuneration ratified for FY2025-26.

Material Related Party Transactions

• Remuneration payable to Rohan Mittal, related party, approved.

Business Overview

• Global water solutions provider delivering EP, EPC, DBO, O&M with HAM options.
• Asset-light delivery model prioritising complex, technology-led projects.
• Strong international footprint with recent Kuwaiti, UAE, Austrian wins.

Key Operational Highlights

• Q1 FY27 order intake INR 34.23 bn; backlog ~INR 194 bn.
• Secured MEWRE Kuwait 272 MLD SWRO and Ajman 60 MLD order.
• Donauinsel expansion in Vienna; BWSSB Bengaluru two energy-efficient WWTPs.
• Net cash positive for 14th consecutive quarter.
• Order book surge to INR 19,400 crore; strong revenue visibility.

Financial Performance

• Consolidated revenue INR 8,868 mn; up 20.8% YoY.
• Consolidated EBITDA INR 1,163 mn; margin 13.1%.
• PAT INR 901 mn; margin 10.2%.
• Standalone revenue INR 7,393 mn; PAT INR 793 mn.
• Net cash including HAM projects INR 8,566 mn.
• Forex impact: consolidated gain INR 368 mn; standalone loss INR 289 mn.

Capital Structure & Liquidity

• Net cash positive for 14th consecutive quarter; robust liquidity.
• No material debt/funding details disclosed in the presentation.

Strategic Priorities & Outlook

• Outlook: order book 3x revenue; 15-20% revenue CAGR.
• EBITDA margin target 13-15%; RoCE >20%; RoE >15%.
• O&M to ~20% of revenue; asset-light model remains core.
• Focus on international expansion, selective bidding, and sustainable solutions.

Risks & Mitigation

• Earnings volatility and sensitivity to contract timing.
• Growth management risk due to international operations and capacity.
• Competitive pressure and price competition in domestic and overseas markets.
• Talent retention and cost overruns on complex projects.
• Regulatory and policy changes impacting cross-border operations.

Governance & Leadership

• CFO: Skandaprasad Seetharaman; governance framework highlights independent chairs.
• Independent Directors chair all seven committees; strong governance.
• Professional management with average 30 years' relevant experience.
• ESOPs and stakeholder engagement emphasized.

Financial highlights

• Consolidated revenue Rs 8,868 Mn, up 21% YoY.
• Consolidated EBITDA Rs 1,163 Mn, up 22% YoY.
• Consolidated PAT Rs 901 Mn, up 37% YoY.
• Standalone revenue Rs 7,393 Mn, up 15% YoY.
• Standalone EBITDA Rs 1,050 Mn, up 22% YoY.
• Standalone PAT Rs 793 Mn, up 30% YoY.

Liquidity and cash

• Gross cash Rs 10,823 Mn; net cash Rs 9,649 Mn.
• Net cash positive for the 14th straight quarter.

Order book and visibility

• Order intake Rs 34 Bn.
• Order book Rs 194 Bn excluding framework contracts.

Strategic wins

• Entered Kuwait with a Mega SWRO project.
• Won an order in Ajman, UAE.
• New Indian orders from BWSSB and DJB.
• Austria project win from Donauinsel Water Works.