VA Tech Wabag shares up 53% in 2026; more upside ahead? Target prices
Ashika Institutional Equities said it is positive on the company's medium term prospects, supported by a strong order book of Rs 20,210 crore, accounting for 4.7 times trailing 12-month revenue.
- Nov 9, 2026,
- Updated Nov 9, 2026 4:03 PM IST
VA Tech Wabag Ltd shares are up 53 per cent in 2026. Yet, there are 13 recommendations on the stock, all rated 'Buy'. They included calls from YES Securities, Systematix, Centrum Broking, JM Financial and MOFSL. The 12-month consensus target of Rs 2,485 implied 23.6 per cent potential upside.
Ashika Institutional Equities said it is positive on the Va Tech Wabag's medium-term prospects, supported by a strong order book of Rs 20,210 crore, accounting for 4.7 times its trailing 12-month revenue. It also likes the healthy execution and increasing opportunities across domestic and international markets. Execution of large desalination, wastewater treatment and industrial projects, along with a rising O&M contribution, should drive growth and support margins, it said.
"EBITDA margin for VA Tech Wabag is expected to improve to 14 per cent by FY29E from 13.3 per cent in FY26, driven by operating leverage and a favourable project mix. Emerging opportunities in semiconductors, solar, data centres and green hydrogen provide additional growth potential," it said while suggesting a target of Rs 2,360 on the stock.
MOFSL said a greater focus on executing large-scale projects and high-margin segments such as EP, Industrial and O&M augurs well for VA Tech's margins.
"The outlook for strong free cash flow generation, Rs 1,100 crore net cash, and improving return ratios make VA Tech Wabag attractive at 22 times FY28E EPS. Reiterate BUY with a target price of Rs 2,529," MOFSL said.
YES Securities, which re-initiated coverage on VA Tech Wabag Ltd with a target of Rs 2,660, cited the huge thrust on water infrastructure, opportunities in STP, increasing acceptability and necessity of desalination, its robust presence in the Middle East, emerging growth areas and a consistent track record of growth for its bullish call. Over FY26-29E, it sees VA Tech's PAT growing at 26 per cent annually.
VA Tech Wabag Ltd shares are up 53 per cent in 2026. Yet, there are 13 recommendations on the stock, all rated 'Buy'. They included calls from YES Securities, Systematix, Centrum Broking, JM Financial and MOFSL. The 12-month consensus target of Rs 2,485 implied 23.6 per cent potential upside.
Ashika Institutional Equities said it is positive on the Va Tech Wabag's medium-term prospects, supported by a strong order book of Rs 20,210 crore, accounting for 4.7 times its trailing 12-month revenue. It also likes the healthy execution and increasing opportunities across domestic and international markets. Execution of large desalination, wastewater treatment and industrial projects, along with a rising O&M contribution, should drive growth and support margins, it said.
"EBITDA margin for VA Tech Wabag is expected to improve to 14 per cent by FY29E from 13.3 per cent in FY26, driven by operating leverage and a favourable project mix. Emerging opportunities in semiconductors, solar, data centres and green hydrogen provide additional growth potential," it said while suggesting a target of Rs 2,360 on the stock.
MOFSL said a greater focus on executing large-scale projects and high-margin segments such as EP, Industrial and O&M augurs well for VA Tech's margins.
"The outlook for strong free cash flow generation, Rs 1,100 crore net cash, and improving return ratios make VA Tech Wabag attractive at 22 times FY28E EPS. Reiterate BUY with a target price of Rs 2,529," MOFSL said.
YES Securities, which re-initiated coverage on VA Tech Wabag Ltd with a target of Rs 2,660, cited the huge thrust on water infrastructure, opportunities in STP, increasing acceptability and necessity of desalination, its robust presence in the Middle East, emerging growth areas and a consistent track record of growth for its bullish call. Over FY26-29E, it sees VA Tech's PAT growing at 26 per cent annually.