Shares of VA Tech Wabag Ltd. have experienced impressive growth in 2024, more than doubling investor wealth thus far. On Thursday, October 10, the company’s stock opened with gains of up to 4%. In a recent announcement, the Chennai-based firm, specializing in desalination and water treatment solutions, revealed it has secured substantial repeat orders from Reliance Industries Ltd.
The term “large” in this context signifies an order value ranging from ₹300 to ₹500 crore, reflecting the significant investment Reliance is making in these projects. These orders specifically pertain to the Water Treatment Systems for Reliance’s facilities located in Dahej and Nagothane, further expanding WABAG’s footprint in this vital sector.
In a formal statement, the company highlighted its longstanding relationship with Reliance Industries, emphasizing that its impressive track record over nearly three decades played a crucial role in securing this latest repeat order. The company’s ability to present a technically superior and competitively priced bid also contributed significantly to their success, reinforcing WABAG’s established leadership position in the industrial water treatment segment.
S. Natrajan, Head of Sales & Marketing for the India Cluster at VA Tech Wabag, elaborated on the significance of this repeat order, noting that it serves as strong evidence of WABAG’s ongoing technological superiority in the water treatment and recycling domain, particularly for the oil, gas, and petrochemical sectors. He further stated that Reliance Industries has been a key client of WABAG for nearly 30 years, and this latest order underscores the company’s status as the preferred supplier for Reliance.
Currently, shares of VA Tech Wabag are trading 1.98% higher at ₹1,498.40, with the company boasting a market capitalization of ₹9,322 crore. The latest order not only signifies a financial boost for WABAG but also highlights its robust capabilities in delivering innovative solutions for complex water treatment needs.
The sustained demand for effective water treatment solutions, particularly in industrial sectors, underscores the importance of companies like VA Tech Wabag in addressing critical water challenges. Their commitment to excellence and technological advancement positions them well for future growth in the sector.
VA Tech Wabag Ltd. is a leading multinational company based in Chennai, India, specializing in water treatment and desalination solutions. Established in 1995, the company provides advanced technologies and sustainable water and wastewater management solutions. With a focus on innovation, Wabag serves a wide range of sectors, including industrial, municipal, and infrastructure, and is recognized for its commitment to sustainable development and environmental protection.
