ADVERTISEMENT

VA Tech Wabag Q3 - Healthy Execution, But Working Capital Woes Remain: ICICI Securities

VA Tech Wabag Q3- Healthy Execution, But Working Capital Woes Remain: ICICI Securities

Water fills pools at the Balara Treatment Plant, operated by Manila Water Co., in Quezon City, Metro Manila, the Philippines. (Photographer: Geric Cruz/Bloomberg)
Water fills pools at the Balara Treatment Plant, operated by Manila Water Co., in Quezon City, Metro Manila, the Philippines. (Photographer: Geric Cruz/Bloomberg)

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 Q3 FY21 performance was better than expectations, supported by pick up in both domestic and overseas execution leading to healthy operating margins.

Kolkata hybrid annuity model project financial closure is in its final stages and is likely to commence by March 2021.

Chennai 400 million litres per day desalination project ordering activity has commenced and pre-qualification bids are expected to get over by next month.

Strong orderbook of Rs 107 billion (4.2 times trailing twelve months sales) lends visibility and the company has announced euro 100 million worth of overseas orders; however, 33% of orderbook is operation and maintenance which restricts near- to medium-term growth.

Click on the attachment to read the full report:

ICICI Securities VA Tech Q3FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.