VA Tech Wabag Limited, a leading water treatment company in India, has announced that it has received a major order from Bharat Petroleum Corporation Limited (BPCL). This order is for the expansion of a large refinery and petrochemical plant in Bina, Madhya Pradesh. This order will further strengthen WABAG’s strong position in the market. Let us look at the timeline of this project and the total cost of this order.
VA Tech Wabag announced on Tuesday, January 13 that it has received an order from BPCL for the expansion of a large refinery and petrochemical plant in Bina, Madhya Pradesh. This means that WABAG will create a comprehensive water block package. The estimated value of the order is between ₹250 to ₹600 crore. The company said that this project is going to be completed in 22 months.
Head of Sales and Marketing, India Cluster, WABAG, S. Natarajan said, “This is a large industrial water treatment order from BPCL, which includes ZLD (Zero Liquid Discharge) solution. We thank BPCL for trusting our technical expertise and capabilities to do the work. This order will strengthen WABAG’s position in the oil and gas sector.”
The company has total orders worth ₹ 16,000 crore. Of these, orders worth about ₹5,500 crore are for O&M (operation and maintenance), i.e. orders for running and maintaining water treatment plants. A brokerage firm says the backlog is 3.3 times the company’s annual EPC revenue. This means that the company has a strong order book for at least 3 years.
Recently, B&K Securities has given ‘Buy’ rating to the company. The brokerage firm said that VA Tech Wabag has orders for the next 3 years. In terms of handling O&M plants, it is 8.6 times, the brokerage says. The company has a stable business for a long time. B&K Securities has a Buy recommendation on the company’s stock and has given a target price of ₹2,208, which is about 85% higher than the current price of ₹1,199.
Veteran investor Rekha Jhunjhunwala holds 8.03% stake in VA Tech Wabag. This means that Jhunjhunwala has a total of 5,000,000 shares of this company in his portfolio. Promoters hold 19.1% stake in the company. Foreign institutional investors (FIIs) hold 18.4%, domestic institutional investors (DIIs) hold 4.5%, and the general public holds 58.0%. The shareholding pattern of the company looks very strong.
Shares of VA Tech Wabag rose 2.18% on Tuesday. The stock touched an intraday high of ₹1,211.90 and was trading at ₹1,200 level. Since the beginning of 2025, the company’s shares have declined by 15.41%. However, the stock has given a multi-bagger return of 248.37% in the last three years and a multi-bagger return of 468.44% in the last five years. The market capitalization of the company is ₹7.46 thousand crore.
