Va Tech Wabag Limited · NSE:WABAG
Va Tech Wabag — Q3 FY2026 Earnings Presentation
35 slides from Va Tech Wabag's earnings presentation, Feb 5, 2026
Slide 1: Cover letter to stock exchanges on Q3 FY26 results presentation
________________________________________________________________________________________ An ISO 9001 Company February 05, 2026 National Stock Exchange of India Limited BSE Limited, Exchange Plaza, Plot No. C/1, G Block, Floor 25, P J Towers, Bandra Kurla Complex, Dalal Street, Bandra (E), Mumbai – 4
Slide 2: Technology-first global water solutions provider
TECHNOLOGY-FIRST GLOBAL WATER SOLUTIONS PROVIDER
Slide 3: 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 4: The Wabag Group, Financial Performance, Order Book Analysis
Page No. Page No. Page No. 06 The Wabag Group 12 20 Financial Performance Order Book Analysis Technology-first global water solutions provider 3
Slide 5: Chairman & Managing Director message
We continued on our profitable growth trajectory, driven by consistent project execution and disciplined operations. Performance remained in line with mid-term guidance, with revenue growth of over 18% while maintaining guided margins. We sustained a net cash positive position for the twelfth consec
Slide 6: 9M FY2025-26 Performance Metrics
INR Mn 18.3% 9M FY'25 9M FY'26 Strong Order Book over INR 163 Bn ( 15% YoY) 21,378 25,298 Robust Revenue Visibility 19.9% 23.7% Secured break-through orders in “Future Energy 2,894 3,470 1,958 2,422 Solutions” sector for, CBG plant in Uttar Pradesh and UPW, ETP & ZLD for Renewsys in Hyderabad
Slide 7: The Wabag Group
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Slide 8: Company history and milestones
1924 Foundation of WABAG Wasserfilterbau in Wroclaw 2007 Reunification: WABAG India takes over WABAG 1986 Austria Group from 2018 Siemens Group Completion of the Associated with PM’s 3-stage acquisition of vision of Clean Ganga – WABAG by Deutsche 2010 executed the first STP 2024 Babcock under Namam
Slide 9: Largest private water operator, touched 96+ Mn lives globally
Largest Private Water Operator, Touched 96+ Mn lives globally Among the World’s Top Desalination Plant Suppliers Promoting Manufactured 2,000+ Wabagites AA-/Stable & A1+ 125+ IPRs Asset Light Water, Circular Economy across Locations Credit Rating Developed in-house Model and Resource Recovery 25+ Co
Slide 10: Our Path to Net Zero
Environment Our Path to Net Zero Achieve a 20% reduction of emissions under direct control (scope 1 & scope 2) by 2035 through an Reducing GHG emissions through our sustainable solutions increase share of renewable energy Increase water positivity by 50% by 2030 Water Positive Effective technolo
Slide 11: Governance: Shareholders, Board, Committees, Management
Shareholders Long-term shareholder value creation Strong engagement through transparent communication Board Balanced, Independent and Diversified Board Experienced and vibrant Board of Directors with requisite skills and expertise Committees All seven committees are chaired by Independent
Slide 12: Future energy solutions initiatives
Well positioned as a complete water solution provider from Raw Water PV Solar, Semi- Treatment – UPW – ETP/ZLD with long term O&M Conductor Actively pursuing opportunities with leading Solar and Green H2 players in India & Green H2 Secured mega desalination order from PV Solar Sector & a break
Slide 13: Financial Performance
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Slide 14: Revenue, EBITDA and PAT
INR Mn 12M 9M 32,940 28,564 15-20% 3Y Revenue CAGR 19,222 21,378 25,298 15% FY'24 FY'25 FY'26 3,768 4,302 13-15% Margin 3Y EBITDA 2,894 3,470 CAGR 2,613 15% FY'24 FY'25 FY'26 2,953 2,456 9-10% Margin 3Y PAT 2,422 CAGR 1,730 1,958 18% FY'24 FY'25 FY'26 Technology-first global water solutions provider
Slide 15: Revenue by business offering, customer segment and geography
INR Mn By Business Offering & Customer Segment By Geography EPC (INR Bn) Municipal Industrial Total Total EPC 16,112 4,313 20,425 India 12,387 20.4 17.2 O&M 3,813 771 4,583 Overseas 12,622 Grand Total 19,925 5,084 25,009 Grand Total 25,009 9M FY'25 9M FY'26 O&M (INR Bn) 82% 18% 80% 20% 50% 50% 4.6 4
Slide 16: Net Cash Positive INR 10,065 Mn
INR Mn Net Cash Positive INR 10,065 Mn 10,782 10,065 9,461 8,148 7,952 7,056 6,753 6,433 6,587 6,267 5,149 1,156 3,790 4,018 1,166 3,442 3,615 1,096 3,375 1,166 -7 3,465 3,135 3,093 884 3,058 1,166 -5 2,735 622 1,085 2,797 2,537 2,405 2,132 2,170 1,877 2,141 1,140 1,707 1,882 1,152 1,295 1,002 1,078
Slide 17: Outlook (3-5 years) and performance
Outlook (3-5 Years) Performance Commentary Order Book 4x of revenue; INR 163 Bn+ 3x of Revenue Strong growth visibility Revenues Growth on track; Driven by Up 18.3% (YoY) 15 - 20% CAGR efficient execution & new projects EBITDA 13.7% Consistent improvement 13 - 15% of 9M FY’26 Revenue in profitabilit
Slide 18: Consolidated Q3 FY26 results
INR Mn Particulars 9M FY'26 9M FY'25 YoY% Q3 FY’26 Q3 FY’25 YoY% Revenue from Operations 25,298 21,378 18.3% 9,613 8,110 18.5% Cost of Sales 18,902 16,082 7,208 6,265 Total Cost of Operations (TCO) 3,196 2,489 1,190 841 Forex Loss/(Gain) (270) (87) (95) (47) EBITDA 3,470 2,894 19.9% 1,310 1,051 24.6
Slide 19: Standalone Q3 FY26 results
INR Mn Particulars 9M FY'26 9M FY'25 YoY% Q3 FY’26 Q3 FY’25 YoY% Revenue from Operations 21,175 18,353 15.4% 7,873 6,761 16.4% Cost of Sales 15,773 13,676 5,864 5,137 Total Cost of Operations (TCO) 2,703 2,176 967 772 Forex Loss/(Gain) (357) (138) (124) (79) EBITDA 3,056 2,639 15.8% 1,166 931 25.2%
Slide 20: Stock Performance (9M FY'26)
Stock Performance (9M FY’26) 180 Wabag NIFTY 160 26,130 140 23,166 120 100 80 60 1,408 40 1,303 20 - 01-Apr-25 01-May-25 01-Jun-25 01-Jul-25 01-Aug-25 01-Sep-25 01-Oct-25 01-Nov-25 01-Dec-25 Stock Information Shareholding Pattern (As on 31st December 2025) (As on 31st December 2025) Promoters Face V
Slide 21: Order Book Analysis
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Slide 22: EPC revenue and order backlog growth
INR Mn Revenue Growth (YoY) 19% Order Backlog Growth (YoY) 27% 44% 28% 56% 22% 1,659 5,909 4,926 14,379 16,514 17% 4,313 21% 14% 10,606 35% 5,973 80,104 83% 16,112 79% 86% 65,725 65% 11,186 9M FY'25 9M FY'26 9M FY'25 9M FY'26 Municipal Industrial Municipal Industrial 29% 38% 8% 2,583 7% 18,168 684 2
Slide 23: O&M revenue and order backlog growth
INR Mn Revenue Growth (YoY) 12% Order Backlog Growth (YoY) (1)% 49% 1% 2% 7% 254 320 203 235 771 17% 20% 10,788 10,584 20% 13% 516 87% 3,578 3,813 83% 80% 43,907 43,587 80% 9M FY'25 9M FY'26 9M FY'25 9M FY'26 Municipal Industrial Municipal Industrial 15% 5% 35% 23% 180 10% 5,509 2,439 1,916 670 7,42
Slide 24: Total revenue and order backlog growth
INR Mn Revenue Growth (YoY) 18% 12% 35% 22% 24% 19% 12% 489 1,405 2,403 3,267 4,583 18% 5,161 5,084 1,354 20% 19% 4,094 12,622 50% 31% 6,489 48% 10,219 20,425 82% 19,925 80% 81% 17,158 69% 14,764 12,387 50% 52% 11,034 9M FY'25 9M FY'26 9M FY'25 9M FY'26 9M FY'25 9M FY'26 EPC O&M Municipal Industrial
Slide 25: Order intake by offering, segment and geography
INR Mn By Business Offering & Customer Segment By Geography Municipal Industrial Total Total EPC 89% 11% O&M EPC 34,948 7,357 42,305 India 13,392 O&M 5,154 22 5,176 Overseas 34,089 Grand Total 40,102 7,379 47,481 Grand Total 47,481 Municipal 84% 16% Key Orders Nature Classification Industrial 300 ML
Slide 26: Order backlog by offering, segment and geography
INR Mn By Business Offering & Customer Segment By Geography Municipal Industrial Total Total EPC 80,104 16,514 96,618 India 77,988 54.2 O&M 43,587 10,584 54,171 Overseas 72,801 Framework 12,636 Framework 12,636 53.7 Grand Total 1,23,690 27,099 1,63,424 Grand Total 1,63,424 96.6 71.1 64% 36% 82% 18%
Slide 27: Key contracts in order book
INR Mn S.N Key Contracts in Order book Nature Classification* Key Framework Contracts # Amount Libya STP ## 6,114 1 400 MLD Perur, Chennai Desalination Mega Bomba MED, Libya 6,522 2 300 MLD SWA, Yanbu Al-Bahr, KSA Desalination Mega 20% 3 200 MLD Al Haer ESC, KSA ISTP Mega 4 100 MLD Indosol, Andhra P
Slide 28: Appendix
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Slide 29: Awards and recognition
WABAG recognised as a “Champion of Circular WABAG has been honoured with the CII–IGBC WABAG is honored with the Arogya World Revolution” at the ET Edge Global Green Buildings Excellence Award 2025, Platinum Healthy Workplace Award, Sustainability Alliance – Transformation Series, recognising its str
Slide 30: Industrial sectors served
Municipal Water & Waste Water Oil & Gas Power plants Steel Food & Beverages Fertilizer Industrial parks Technology-first global water solutions provider 29
Slide 31: 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 32: Managing over... Ensuring...
Managing over Ensuring Technology-first global water solutions provider 31
Slide 33: Reference projects
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 34: Reference projects (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 35: Contact details
VA Tech Wabag Ltd. Adfactors PR Pvt. Ltd. CIN - L45205TN1995PLC030231 CIN - U74140MH1997PTC110210 Mr. Skandaprasad Seetharaman Ms. Savli Mangle Group Chief Financial Officer Vice President investors@wabag.in | www.wabag.com savli.mangle@adfactorspr.com | www.adfactorspr.com