VA Tech Wabag shares gain 3% on repeat order worth Rs 560 crore

The upcoming board meeting, scheduled for November 6, 2023, will convene to review and authorize the unaudited financial performance of the company for the six-month period ending in September 2023.

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VA Tech Wabag share price added 3 percent in the early trade on November 2 after the company bagged a repeat order worth about 215
million Tunisian Dinars (approximately 63 million euros or Rs 560 crore).

At 09:18 hrs Va Tech Wabag was quoting at Rs 494.40, up Rs 16.20, or 3.39 percent on the BSE.

The company secured a consortium design, build, and operate (DB0) repeat order towards 345 MLD Bejaoua Drinking Water Treatment Plant, from Societe Nationale D’exploitation Et De Distribution Des Eaux (SONEDE).

The project funded by French Development Agency (AFD) and European Investment Bank (BEI) will be executed over a period of 30 months followed by Operation & Maintenance of the plant for a period of 12 months.

The scope of Wabag under this order will be Engineering & Procurement (EP’) and Operation & Maintenance (`O&M’), which is worth about half of the consortium order value, includes design, engineering and supply of electromechanical equipment including modern and compact lamella clarifiers, installation and commissioning of the plant followed by a 1 year O&M period.

The project is to be executed with Wabag as leader of the consortium and Entreprise Gloulou Mohamed et Salem (EGMS), the consortium partner who will be responsible for all civil works of the project.

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In October, the company partnered with Pani Energy Inc. to implement Applied Artificial Intelligence for treatment plants.

The new digital technology category is called Operational Intelligence and delivered through their product Pani ZED, in the plant operations.

The partnership aims to leverage Pani’s platform to optimise an OPEX in the plants by reducing downtime, energy consumption and chemical usage.

The upcoming board meeting, scheduled for November 6, 2023, will convene to review and authorize the unaudited financial performance of the company for the six-month period ending in September 2023.

The share touched a 52-week high of Rs 544.80 and a 52-week low of Rs 262.05 on August 1, 2023, and November 1, 2022, respectively.

Currently, the stock is trading 9.25 percent below its 52-week high and 88.67 percent above its 52-week low.