ALFA Finder
The call ran from 4:01 PM to 5:08 PM IST (1 h 8 min).
Key takeaways
Record Q2 and H1: Q2 revenue +20% and PAT +23% YoY, with order book at ₹20,207 Cr. Management is upbeat, but margin and order conversion depend on Middle East execution, where shipping delays and slower new awards are the main risks.
| Revenue growth | Consolidated Q2 revenue +20% YoY; H1 +20.3% to ₹1,887 Cr. |
|---|---|
| Margins | EBITDA ~14% H1, Q2 14.5%; management calls it structural, not one-off. |
| Order book | Record ₹20,207 Cr, over 4x annual revenue; H1 intake ₹5,200 Cr. |
| Demand visibility | Enquiries at peak; Middle East awards slowed; Tamil Nadu desal pipeline. |
| Management confidence | Over-optimistic: 'bumper order intake' claims; hedged on Middle East timing. |
Growth
Q2 revenue +20% YoY, PAT +23%, EBITDA ₹145 Cr at 14.5%; H1 PAT +30%, outpacing revenue growth.
Outlook
Medium-term: 15-20% revenue CAGR, 13-15% EBITDA, ROCE >20%; no single-year number given.
Risks
Middle East shipping delays, slower new-project awards, commodity inflation, Saudi caution; Q3 pipeline unquantified.
Last quarter's promises, checked
Delivered
- Rev growth 15–20% → H1 +20.3% to ₹1,887 Cr (= BEAT)
- Order book >4x revenue → ₹20,207 Cr, over 4x annual revenue (= BEAT)
- FY27 EBITDA 13–14% band → Q2 14.5%, H1 ~14% (= BEAT)
Partly delivered
- 15% EBITDA by FY27-end → Q2 14.5%, H1 ~14% (= PARTIAL)
Missed
- No ME pipeline slowdown, >6 inquiries → ME awards slowed (= MISS)
- No material geopolitical impact → ME shipping delays top risk (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Va Tech Wabag Q2 FY27 Results: Net Profit ₹104.5 Cr, Up 23.2% YoY
Va Tech Wabag Ltd reported revenue from operations of ₹1,000 Cr (+19.9% YoY) and net profit of ₹104.5 Cr (+23.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹104.5 Cr · +23.2% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Management reiterated 15-20% revenue growth guidance and 13-15% EBITDA margins for FY27.
Growth they described
Consolidated revenue grew 20.8% YoY; EBITDA increased 21.7% with margins steady above 13%. Profitability saw a 37% jump.
Call details
| Company | VA Tech Wabag Ltd |
|---|---|
| NSE symbol | WABAG |
| ISIN | INE956G01038 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 6 November 2026 |
| Time | 4:00 PM IST |
| Length | 1 h 8 min |
| Audio | Our stream on YouTube ↗ |
VA Tech Wabag Ltd: key numbers
- Share price
- ₹1,988.20
- Market cap
- ₹12,429 Cr
- Revenue (annual)
- ₹3,944 Cr
- Net profit (annual)
- ₹370.5 Cr
- P/E (TTM)
- 30.0×Sector 21.9×
- Promoter holding
- 19.03%-0.05% QoQ
- FII holding
- 18.75%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
Other calls on Fri, 6 Nov
Today's concalls →
