VA Tech Wabag shares surged as much as 6.37 per cent on Monday after the company informed stock exchanges that it has bagged record orders worth Rs 5,000 crore in FY 2016. This is the highest ever order intake clocked by the group in a single financial year.
Shares of VA Tech Wabag were trading 5.32 per cent up at Rs 535.60 (at 1.19 pm). The scrip was opened at Rs 513 and has touched a high and low of Rs 540.95 and Rs 507.50, respectively, in trade so far. Sensex was trading 148.08 points up at 25,100.82.
The Exim Bank of India funded Polgahawela Water Treatment Plant order has been brought into the company’s firm order book, following the signing of the loan agreement between the Water Board of Sri Lanka and Exim Bank of India earlier this month.
The order is worth $108 million and is the second order secured from Sri Lanka by the company through Buyers Credit, the first one being the Dambulla order, which is at an advanced stage of completion. The scope includes design, construction, testing and commissioning of an Integrated Water Supply Scheme for Polgahawela and adjoining areas.
For the quarter ended December 2015, the company reported a consolidated net profit of Rs 18.90 crore, up 36.66 per cent, against Rs 13.83 crore in the corresponding quarter a year ago.
In the past one year, the share price of VA Tech Wabag plunged 46.07 per cent to Rs 508.55 till March 18, whereas BSE Sensex skid 12.82 per cent during the same period.
VA Tech Wabag is a leader in the Indian water technology market and currently holds a market share of around 14 per cent. The company has consolidated its’ specialist reputation through a number of innovative and path-breaking projects in the fields of water treatment and wastewater recycling.