BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
VA Tech Wabag Ltd.'s revenues were down 6% YoY at Rs 7.5 billion due to 7% YoY decline in engineering, procurement and construction segment in Q3 FY22.
However, due to better execution mix of industrial and overseas orders, VA Tech Wabag was able to improve the operating margins despite increased input costs.
Gross margin expanded 280 basis points YoY leading to an Ebitda margin expansion of 140 bps YoY to 10.2%. Ebitda and profit after tax grew 8.6% and 9% YoY, respectively.
Order book stands at a robust Rs 100 billion (3.26 times trailing twelve months sales) led by strong order intake of Rs 9.6 billion during the quarter.
Chennai 400-million litre per day desalination bids are close to completion and might get awarded in Q2 FY23.
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