VA Tech Wabag’s stock surged 13% after the company posted strong Q3 results and secured a massive ₹3,251 crore ($371 million) consortium order for the Al Haer Independent Sewage Treatment Plant (ISTP) in Saudi Arabia. As of 9:16 AM, the shares were trading 11:70% higher at Rs 1,527.80.
For Q3 FY25, the company reported an 11.6% YoY rise in consolidated net profit at ₹70.2 crore, compared to ₹62.9 crore in Q3 FY24. Revenue from operations grew 15.1% YoY to ₹811 crore, up from ₹704.4 crore in the previous year. Despite a slight dip in EBITDA margin to 12.4% from 14%, consolidated EBITDA increased 1.5% YoY to ₹100.4 crore.
The newly secured ISTP project aligns with Saudi Arabia’s Vision 2030 for sustainable water management. Awarded by Al Haer Environmental Services Company, the 200 MLD sewage treatment plant will be developed by a consortium led by Miahona Company, Marafiq, and N.V. Besix S.A., with Saudi Water Partnership Company (SWPC) as the principal off-taker.
VA Tech Wabag, serving as the Technology Partner and EPC leader, will oversee the plant’s design and construction, while Mutlaq Al-Ghowairi Contracting Company (MGC) will handle pipeline and reservoir installations. This order strengthens Wabag’s footprint in the Middle East, following its recent 20 MLD Industrial Wastewater Treatment Plant contract at the Ras Tanura Refinery Complex.
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