With a market capitalization of Rs 3,090 crores, VA Tech Wabag Ltd shares gained 4 percent on Wednesday’s trading session and reached a 52-week high price of Rs 503.20 as compared to the previous closing price of Rs 478.95. This occurred after the company obtained a water treatment plant project.
According to the exchange filing, the company received an order from the City and Industrial Development Corporation of Maharashtra Limited (CIDCO), Maharashtra, to design, build, and operate a 270 MLD (million litres per day) water treatment facility for a project costing Rs 420 Crores.
In the past three months, the Stock gained 43.71 percent from Rs 345.80 to current levels, and in the previous year, the stock gained 102.73 percent by giving a multibagger return from Rs 245 to current levels. If the investor invested Rs 1 lakh in the stock a year ago, their holdings would now be valued at Rs 2.02 lakhs!
The Ace investor Rekha Jhunjhunwala holds 50,00,000 shares in the firm as of the March 2023 quarter, equivalent to 8.04 percent.
Va Tech Wabag Ltd is engaged in the business of design, supply, installation, construction, and operational management of water treatment plants in India and globally.
As per the YoY comparison of financials, the revenues declined from Rs 2,979 crores during FY 21-22 to Rs 2,960 crores in FY 22-23. Within the timeframe specified, the Net profit declined from Rs135 crore to Rs 1 crore.
Based on profitability ratios, ROE significantly decreased from 8.57 percent in FY 21–22 to 0.81 percent in FY 22–23, but ROCE increased from 14.14 percent to 20.27 percent during the same time period, and debt to equity is currently at 0.14.
According to the latest data shareholding pattern, promoters of the company hold a 19.13 percent stake, and Foreign Institutional Investors (FIIs) hold a 16.57 percent stake in the company for FY 22-23.
Written by Omkar C
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