India, Oct. 5 -- VA Tech Wabag's record Rs19,400 crore order book and rising profitability point to strong business momentum entering FY27. However, FY26 operating cash flow declined despite higher earnings, as rising receivables absorbed much of the cash. With execution expected to scale further, the key question is whether WABAG can sustain growth while improving collections, working-capital efficiency, and cash conversion.

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VA Tech Wabag is trading around Rs1,968 per share, with a market capitalization of roughly Rs12,298 crore. The stock's 52-week range stood at Rs1,033-Rs2,320, while its P/E was around 31x, book value was about Rs412 per share, and ROCE stood near 21%.

Profit & Cash Flow

WABAG reported a significant...