VA Tech Wabag reports strong H1 FY26 performance, revenue up 18.2%

VA Tech Wabag reported a consolidated revenue of INR 15,685 Mn for H1 FY26, an 18.2% year-on-year increase, with Q2 FY26 revenue at INR 8,345 Mn, up 19.2% YoY. Consolidated EBITDA for H1 FY26 stood at INR 2,161 Mn, a 17.2% YoY rise, and Profit After Tax (PAT) reached INR 1,506 Mn, marking a 19.9% YoY growth. The company achieved a net cash positive position for the 11th consecutive quarter, with net cash at INR 6,753 Mn (including HAM Project - INR 5,614 Mn).

The company's order backlog reached INR 160,199 Mn by the end of H1 FY26, reflecting a 9.7% YoY increase and providing strong revenue visibility. New order intake for H1 FY26 was INR 34,772 Mn, with significant wins including a 300 MLD SWRO Desalination project in Yanbu Al-Bahr, KSA, valued at INR 20,379 Mn, and breakthrough orders in the "Future Energy Solutions" sector.

Looking ahead, VA Tech Wabag aims for an order book 3x of revenue, 15-20% CAGR in revenues, and 13-15% EBITDA margins. The company also targets RoCE >20% and RoE >15%, along with maintaining a net cash positive position.