Rekha Jhunjhunwala-backed Multibagger Water Treatment Company Secures Mega Desalination Project Worth Rs 1,000 Crore from Indosol Solar!
The company’s shares have delivered an impressive multibagger return of over 285 per cent in just 1 year.
Rekha Jhunjhunwala-backed a leading pure-play water technology Indian multinational group, has reinforced its global leadership position in the desalination segment by securing a mega order worth Rs 1,000 crore from Indosol Solar Private Limited (Indosol Solar). This significant contract marks WABAG's commitment to ensuring water security for the solar photovoltaic (PV) sector.
The order encompasses the engineering procurement (EP) scope, which includes design, engineering, supply, installation, testing, and commissioning of a 100 million liters per day (MLD) desalination plant. The project is set to be executed over 38 months, followed by a 15-year operation and maintenance (O&M) contract.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
The plant will incorporate state-of-the-art desalination technologies aimed at enhancing energy efficiency while producing water to meet the demands of Indosol Solar's 10 GW integrated solar PV manufacturing unit in Andhra Pradesh.
On Tuesday, the shares of Va Tech Wabag Ltd closed at around Rs 1706.05 per share on the BSE. The company’s current market capitalization stands at Rs 10,610 crore. Additionally, the shares have delivered an impressive return of over 285 per cent in the past 1 year.
As per the Quarterly Results, in the Q1 FY25, Va Tech Wabag Ltd recorded a revenue of Rs 626 crore compared to Rs 553 crore. The operating profit stood at Rs 79 crore with a margin of 13 per cent which was earlier 10 per cent same quarter last year. The net profit stood at Rs 55 crore compared to a profit of Rs 50 crore.
Rekha Jhunjhunwala owns around 8.04 per cent stake in the company as per Q1 FY25.
Investors must keep this Small-Cap water treatment company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.