The shares of this small cap stock gained 9 percent on Thursday after it received an order from the national water distribution utility of North Africa.
Va Tech Wabag Ltd is a Small cap company with Market capitalization of Rs 2,971.77 crores. On Thursday, the company shares closed at Rs 498.80 a share, an increase of 4.27 percent from the previous closing price.
According to the company’s regulatory filing,Va Tech Wabag Ltd received an Order from Societe National, D’ Exploitation Et De Distribution Eaux (SONEDE),Tunisian for a 345 MLD Water Treatment Project of worth 215 million tunisian dinar.(approx. EUR 63 Million).
The work of the company in this project will be operation & maintenance and Engineering & Procurement which includes the design, engineering, and supply of electromechanical equipment, such as contemporary, small Lamella clarifiers; the plant’s installation and commissioning; and an initial year of operations and maintenance.
The Water Treatment Project is Funded by French Development Agency (AFD) and European investment bank (BEI) over the period of thirty months and Operation and Maintenance of the plant for the period of twelve months.
Having a look at the financials of the company.The company’s revenue decreased by 12.39 percent from Rs. 631 crores in Q2FY23 to Rs 552.8 crores in Q2FY24. Further, During the same period, Net Profit has increased by 65.89 percent from Rs 30.14 crores to Rs 50 crores.
Va Tech Wabag Ltd stock gave 30.88 percent return in six months and 87.64 percent return in a year.
As per the recent shareholding pattern, The Promoters of the Company own 19.13 percent while retail shareholders own 50 percent stake in the company and Domestic Institutional Investor own 3.52 percent stake
Va Tech Wabag Ltd is in water treatment, which includes designing, supplying, installing, building, and managing operations for drinking water.
Written by :- Abhishek Singh
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