Va Tech Wabag bags ₹3,200 crore order in Saudi Arabia – CNBC TV18

Water supply and management sector small-cap company Va Tech Wabag has secured an order worth over ₹3,200 crore in Saudi Arabia, which could trigger stock action on Monday (February 10).

Despite short-term pressure on the stock, it has nearly doubled investors’ wealth in the past year.

The company announced that it has won a consortium order for a 200 MLD independent sewage treatment plant in Riyadh. The order size stands at $371 million (approximately ₹3,251 crore).

This marks the second such order the company has bagged in Saudi Arabia this year.

Va Tech Wabag stated that it has successfully executed multiple similar projects in the region, and the latest order will further strengthen its position.

The EPC consortium includes Wabag and MGC, where Wabag will handle the plant’s design and construction, while MGC will build the transmission pipeline and reservoir.

On Friday (February 7), Va Tech Wabag’s stock closed nearly 2% lower at ₹1,366. Over the past year, the stock has surged 94%, while in three years, it has multiplied investor wealth fourfold.

However, in the short term, it has faced pressure, declining over 21% in the last three months and 17% year-to-date.