Va Tech Wabag Limited · NSE:WABAG
Va Tech Wabag — Q4 FY2026 Earnings Presentation
38 slides from Va Tech Wabag's earnings presentation, May 2026
Slide 1: Results Update Presentation Q4 & FY 2025-26
TECHNOLOGY-FIRST GLOBAL WATER SOLUTIONS PROVIDER Results Update Presentation Q4 & FY 2025-26
Slide 2: Disclaimer
This presentation and the accompanying slides (the “Presentation”), which have been prepared by VA TECH WABAG LIMITED (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and sha
Slide 3: Order Book Analysis, Financial Performance, The WABAG Group
ORDER BOOK ANALYSIS FINANCIAL PERFORMANCE THE WABAG GROUP
Slide 4: Management message on FY26 performance and outlook
“FY’26 marks another year of consistent and profitable growth, aligned with our medium-term guidance, reflecting disciplined execution and the strength of our order book. We also achieved our sixth consecutive year of maintaining a net cash-positive position, reinforcing our financial resilience. Du
Slide 5: Q4 and FY26 performance highlights
12M FY'25 12M FY'26 INR Mn Strong Order Book of INR 172 Bn+ Robust Revenue Visibility 19.7% 39,442 Order Intake of over INR 75 Bn secured in FY26 and well positioned in 32,940 21.8% 25.5% projects worth over INR 52 Bn 4,302 5,241 2,953 3,705 Secured ‘Mega’ PPP order from CMWSSB, towards 45 M
Slide 6: The WABAG Group
THE WABAG GROUP
Slide 7: Company history and milestones
Foundation of WABAG Wasserfilterbau in Wroclaw Secured its largest Desalination order in Completion of the 3-stage acquisition Middle East – 300 MLD SWA in Yanbu, KSA of WABAG by Deutsche Babcock WABAG celebrates its Centenary, & Foundation of VA TECH WABAG Achieved Highest Market Capitalization Ltd
Slide 8: WABAG at a glance
* Largest Private Water Operator, Among the World’s Top 25+ Countries 3 Touched 96+ Mn lives globally Desalination Plant Suppliers Delivery Models EP – EPC – DBO – O&M – BOOT – HAM Presence 2,000+ Wabagites across Locations 1,500+ Plants executed since 1995 Sustainable Solutions AA-/Stable & A1+ Des
Slide 9: Environment, social and governance goals
Environment Our Path to Net Zero Achieve a 20% reduction of emissions under direct Reducing GHG emissions through our sustainable solutions control (scope 1 & scope 2) by 2035 through an increase share of renewable energy Increase water positivity by 50% by 2030 Water Positive Effective technolo
Slide 10: Governance and stakeholder approach
Employees & Shareholders Board Committees Management Stakeholders Long-term Balanced, All seven committees Professional Promoting Healthy shareholder value Independent and are chaired by Management with and Safe Work creation. Diversified Board. Independent average 30 years of Practices.
Slide 11: For the future: new growth areas
PV Solar, Semi-Conductor, Data Centers & Green H2 Well positioned as a complete water solution provider from Raw Water Treatment – UPW – ETP/ZLD with long term O&M Actively pursuing opportunities with leading Solar and Green H2 players in India Secured mega desalination order from PV Solar Sec
Slide 12: Financial Performance
FINANCIAL Performance
Slide 13: Revenue, EBITDA, PAT and EPS
INR Mn CAGR 28,564 32,940 39,442 17.5% Revenue 2023 - 2024 2024 - 2025 2025 - 2026 5,241 CAGR EBITDA 3,768 4,302 18% 2023-2024 2024-2025 2025 - 2026 2,953 3,705 2,456 CAGR PAT 23% 2023-2024 2024-2025 2025 - 2026 EPS 39.49 47.48 59.51 2023-2024 2024-2025 2025 - 2026 Sustainable Solutions for a Better
Slide 14: Consistent Value Creation & Shareholder Returns
Consistent Value Creation & Shareholder Returns The Board of Directors has recommended a dividend of ₹ 5 per equity share (250% of Face Value) for FY 2025–26, subject to shareholder approval at the ensuing Annual General Meeting. The Dividend recommendation reflects: • Strong operational and financi
Slide 15: Net Cash Positive INR 9,500 Mn
INR Mn Net Cash Positive INR 9,500 Mn 10,591 9,500 9,461 7,952 7,056 6,753 6,433 5,149 1,156 3,442 3,375 3,465 1,166 3,135 622 3,058 1,085 2,132 2,405 1,140 1,163 1,295 1,707 1,002 1,198 2,170 1,091 Q4 FY’23 Q2 FY’24 Q4 FY’24 Q2 FY’25 Q4 FY’25 Q2 FY’26 Q4 FY’26 Cash Balance excl. HAM Borrowing excl.
Slide 16: Outlook versus FY26 performance
Outlook Performance Commentary (3-5 Years) FY’26 >4x of revenue; Order Book 3x of Revenue INR 172 Bn+ Strong growth visibility Revenues Growth on track; Driven by 15 - 20% CAGR Up 19.7% (YoY) efficient execution & new projects EBITDA Margin Consistent Performance 13 - 15% 13.3% on profitability RoCE
Slide 17: Consolidated profit and loss
INR Mn Particulars FY'26 FY'25 YoY% Q4 FY’26 Q4 FY’25 YoY% Total Income 40,385 33,386 21.0% 14,462 11,676 23.9% Revenue from Operations 39,442 32,940 19.7% 14,144 11,562 22.3% Cost of Sales 30,038 25,605 11,136 9,523 Total Cost of Operations (TCO) 4,630 3,112 1,434 623 Forex Loss/(Gain) (467) (79) (
Slide 18: Standalone profit and loss
INR Mn Particulars FY'26 FY'25 YoY% Q4 FY’26 Q4 FY’25 YoY% Total Income 34,014 29,107 16.9% 12,197 10,497 16.2% Revenue from Operations 32,844 28,738 14.3% 11,669 10,385 12.4% Cost of Sales 25,129 22,255 9,356 8,579 Total Cost of Operations (TCO) 3,777 2,615 1,074 439 Forex Loss/(Gain) (771) (161) (
Slide 19: Balance sheet
INR Mn Consolidated Standalone Particulars FY’26 FY’25 FY’26 FY’25 Total Equity (Net Worth) 25,737 21,450 21,082 17,836 Non-Current Payables 1,892 2,274 1,892 2,334 Trade Payables 12,623 10,457 12,004 9,659 Borrowings 2,255 3,573 920 2,335 Other Non-Current Liabilities 2,243 1,982 2,138 1,884 Other
Slide 20: Cash flow
INR Mn FY’26 FY’25 Particulars Consolidated Standalone Consolidated Standalone Net cash generated from / (used in) operations 2,067 2,033 3,552 4,211 Net cash generated from / (used) in investing activities (204) 87 (1,210) (1,431) Net cash generated from financing activities (1,849) (1,787) 340 452
Slide 21: Stock Performance (1 April 2025 to 21 May 2026)
Stock Performance (1st April 2025 to 21st May 2026) 23,166 23,655 1,408 1,410 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 VA Tech Wabag Ltd. NIFTY 50 Stock Information Shareholding Pattern (As on 31st March 2026) (As on 31st March 2026) Promoters
Slide 22: Order Book Analysis
ORDER BOOK Analysis
Slide 23: Revenue by business offering, segment and geography
By Business Offering & Customer Segment By Geography INR Mn EPC (INR Bn) Municipal Industrial Total Total EPC 25,647 6,612 32,260 India 18,587 32.3 O&M 5,534 1,290 6,824 Overseas 20,497 26.8 Grand Total 31,181 7,903 39,084 Grand Total 39,084 FY 25 FY 26 O&M (INR Bn) 80% 83% 48% 52% 17% 6.8 20% 6.0 F
Slide 24: Consolidated revenue and backlog growth
INR Mn Revenue Growth (YoY) 21% Order Backlog Growth (YoY) 45% 40% 47% 1% 41% 5,380 20,133 109 18,913 59% 11,539 62,865 51% 13,533 61% 60% 42,732 13,238 13,347 39,908 49% 41% 28,369 40% 39% FY'25 FY'26 FY'25 FY'26 India RoW India RoW 32% 10% 11% 52% 753 1,519 6,242 6,612 14,769 14% 20% 30,153 7,366
Slide 25: Revenue and backlog growth by segment
INR Mn Revenue Growth (YoY) 14% Order Backlog Growth (YoY) 18% 6% 15% 45% 22% 937 102 2,252 7,246 1,584 7,474 11% 23% 9% 4,994 28% 1,686 48,742 56,216 5,240 91% 4,303 77% 89% 72% FY'25 FY'26 FY'25 FY'26 India RoW India RoW 64% 25% 8% 6% 503 897 332 1,290 19% 21% 10,623 10,417 16% 13% 787 11,315 5,20
Slide 26: EPC and O&M revenue and backlog growth
INR Mn Revenue Growth (YoY) 19% 14% 27% 3% 35% 21% 6% 835 250 5,489 6,824 17% 6,575 7,903 20% 5,278 18% 5,989 1,046 52% 25% 8,153 20,497 46% 15,219 26,771 32,260 83% 24,607 31,181 80% 82% 17,541 18,587 75% 48% 54% FY'25 FY'26 FY'25 FY'26 FY'25 FY'26 Municipal Industrial India RoW EPC O&M Order Backl
Slide 27: Order intake and key orders
By Business Offering & Customer Segment By Geography INR Mn Municipal Industrial Total Total EPC 78% EPC 50,146 7,919 58,065 India 37,750 22% O&M O&M 16,315 328 16,643 Overseas 36,958 Grand Total 66,461 8,247 74,708 Grand Total 74,708 Key Orders Nature Classification 89% 300 MLD SWA, Yanbu Al-Bahr,
Slide 28: Order backlog by offering and geography
By Business Offering & Customer Segment By Geography INR Mn Municipal Industrial Total Total EPC 88,004 14,769 1,00,999 India 96,124 O&M 53,045 10,417 63,462 Overseas 70,110 63 Framework 6,114 Framework 6,114 Grand Total 1,41,049 25,186 1,72,349 Grand Total 1,72,349 54 103 71 62% 85% 42% 38% 15% 58%
Slide 29: Key contracts in order book
INR Mn S.N Key Contracts in Order book Nature Classification* Key Framework Contracts # Amount Libya STP ## 6,114 1 300 MLD SWA, Yanbu Al-Bahr, KSA Desalination Mega 2 400 MLD Perur, Chennai Desalination Mega 26% CMWSSB- Chennai Ring Main Looped Water 3 Mega system Grid 39,084 4 100 MLD Indosol, And
Slide 30: Annexure
Annexure
Slide 31: Awards & Accolades
AWARDS & ACCOLADES Mr. Rajiv Mittal, Chairman & Managing Director WABAG is proud to be recognized as a winner WABAG has been honored in the Very Large of WABAG, has been recognized as one of Asia’s in the category “Innovation in Sludge Treatment Category by Smart Manufacturing & Most Promising Busin
Slide 32: Awards and recognition
WABAG received the Bronze Award at the WABAG continues its legacy of CII National EHS Excellence Awards 2025 excellence with recognition for “Best for the 150 MLD K&C Valley Wastewater WWTP” for the Digha & Kankarabagh Treatment Plant, Bengaluru. Project, along with accolades as a Building and susta
Slide 33: Serving clients in municipal and industrial segments
Municipal Funding Agencies Serving clients in…. Municipal Water & Waste Water Industrial Oil & Gas Power plants Steel Food & Beverages Fertilizer Industrial parks Sustainable Solutions for a Better Life 33
Slide 34: Ghaziabad and Agra sewage treatment O&M
Ensuring sustainable and healthy Environment Ghaziabad for the citizens of Agra and Ghaziabad, India 462 MLD Sewage Treatment at 15 STPs & 15 Pumping Stations Resolving SEWER NETWORK issues promptly and ensuring customer satisfaction Ensuring functioning of the PUMPING STATIONS efficiently, round th
Slide 35: Aviralta & Nirmalta of River Ganga
Managing over 195 crore liters each day Ensuring Aviralta & Nirmalta of River Ganga Sustainable Solutions for a Better Life 35
Slide 36: Reference plants executed
110 MLD SWRO (Desalination) Plant, Nemmeli, Chennai, India India’s largest operational desalination plant till date 191 MLD SWRO (Desalination) Plant, 140 MLD Sewage Treatment Al Gubrah, Oman Plant, Dinapur, Varanasi, India First and largest STP to be Largest desalination plant in the country of ina
Slide 37: Reference plants executed (continued)
130 MLD Drinking Water Treatment Plant, Tanzania First water project in Africa to be commissioned under EXIM India funding 40 MLD Madinaty Wastewater 14 Sarneraatal WWTP, Alpnach, Treatment Plant, Cairo, Egypt Switzerland Water reclamation plant for new First plant in Switzerland to be satellite cit
Slide 38: Thank You
Company VA Tech Wabag Ltd. CIN - L45205TN1995PLC030231 Mr. Skandaprasad Seetharaman Group Chief Financial Officer investors@wabag.in | www.wabag.com THANK YOU IR Advisors Adfactors PR Pvt. Ltd. CIN - U74140MH1997PTC110210 Ms. Savli Mangle Vice President savli.mangle@adfactorspr.com | www.adfactorspr