VA TECH WABAG, one of the leading water technology companies, has secured a USD 33.5 million contract for a 20 million litre per day (MLD) Industrial Wastewater Treatment Plant (IWWTP) at the Ras Tanura Refinery Complex in Saudi Arabia. The project involves engineering, procurement, and supervision of the plant, which will treat a mix of wastewater from desalination, tank farms, and other sources within the refinery.
Miahona, a prominent developer of water projects in the Kingdom, is overseeing the construction for Saudi Aramco, a major oil and gas company. VA TECH WABAG will use biological, filtration, and reverse osmosis technologies to partially treat the wastewater for reuse within the refinery. Additionally, wet air oxidation will be employed to handle spent caustic effluent.
The project is expected to be completed within 20 months and signifies VA TECH WABAG’s growing presence in the Saudi Arabian water treatment market. This win highlights their expertise in handling complex industrial wastewater and their commitment to sustainable water management solutions.
In Q2FY24, the company posted an 11.38% decrease in its consolidated revenue at Rs 665, crore compared to Rs 750.40 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 101.50 crore, while the PAT of the company stood at Rs 59.65 crore, from Rs 44.20 crore last year’s same quarter.
Va Tech Wabag Limited is engaged in the business of the water treatment field. Its principal activities include the design, supply, installation, construction, and operational management of drinking water, wastewater treatment, industrial water treatment, and desalination plants. Rekha Rakesh Jhunjhunwala holds an 8% stake in the company.
Today, the shares of Va Tech Wabag Limited opened at Rs 700.05, with a high and low of Rs 729 and Rs 689.95, respectively. The stock is currently trading at Rs 699, which increased by 5.80%. The stock has a 52-week high of Rs 729 and a 52-week low of Rs 304.55. The company has an ROCE of 19.5% and an ROE of 3.11%, with a market capitalisation of Rs 4,411 crore.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Feb 5, 2024, 1:50 PM IST
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