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VA Tech Wabag Limited Interim / Quarterly Report 2022
62666_rns_2021-08-11_803f8e43-3e5d-4049-a7c6-9abd4255ed2a.pdf
Interim / Quarterly Report
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August 11, 2021
National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (E), Mumbai — 400 051
BSE Limited, Floor 25, P J Towers, Dalai Street, Mumbai — 400 001
NSE Symbol : WABAG / BSE Scrip Code : 533269
Dear Sir / Madam,
Sub: Presentation on Un-audited Financial Results for the quarter ended 30thJune 2021.
Pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 ("SEBI Regulations"), please find enclosed a presentation on the Un-audited Financial Results of the Company for the quarter ended 30th June 2021 made to Investors/ Analysts.
The aforesaid presentation is also being hosted on the website of the Company www.wabaq.com in accordance with Regulation 46 of the SEBI Regulations.
Kindly take on record the same.
Thanking you,
For VA TECH WABAG LIMITED
R Swaminathan Company Secretary & Compliance Officer Membership No: A17696
End: as above
Sustainable solutions, for a better life
VA TECH WABAG LIMITED CIN : L45205TN1995PLC030231 No.17, 200 Feet Road, Thoraipakkam - Pallavaram Main Road, Sunnambu Kolathur, Chennai - 600 117, India.
Board : +91-44-6123 2323 Fax : +91-44-6123 2324 Email : wabaggwabag.in Web : www.wabag.com
VA TECH WABAG LTD
Results Update Presentation
Q1 FY 2021 - 22
Safe Harbour
- This presentation and the accompanying slides (the "Presentation"), which have been prepared by VA TECH WABAG LIMITED (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
- This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
- This presentation contains certain forward looking statements concerning the Company's future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the company.
Complete Water Treatment Solution Provider…
- Provides a complete range of Water and Waste Water Treatment solutions
- Offering spanning across Municipal Drinking Water, Municipal Sewage, Industrial Water, Industrial Effluents, Desalination and Recycle
- Technology focused company - Owns more than 90 IP rights
- R&D centers located in India, Austria and Switzerland
- Indian Multinational player in the water treatment industry
- Strong execution track record - More than 1400 plants since 1995
- Professionally managed Company with Promoters having an average of 30 years work experience in the industry
Range of Solutions offered in Water Space
Sewage Water Treatment
- Activated Sludge Process
- Sequential Batch Reactors
- Membrane Bed Bio Reactor
- Upflow Anaerobic Sludge Blanket Reactor
- Bio Active Fixed Film Technology
- Submerged Membrane System
- Stabilization Pond
Industrial Wastewater Treatment
- Physico Chemical Treatment
- Neutralization and primary sedimentation and grit removal
- Biological anaerobic treatment
- Tertiary Treatment activated carbon/ sand filtration, disinfection
- Zero Liquid Discharge
- Aeration
- Sedimentation
- Filtration
- Disinfection
- Sludge Dewatering
Industrial Water Treatment
- Raw water pre treatment
- Filtration Plants
- Nano / Ultra Filtration
- Softening Plants
- Thermal Desalination of sea water treatment
- Demineralization
- Tertiary Treatment System/ Effluent Recycling
Recycling
- Micro filtration
- Membrane Bio Reactors
- Ultra Filtration
- Reverse Osmosis
- Zero Liquid Discharge
Desalination
- Multi Stage Flash
- Multi-effect distillation
- Thermal Vapor Compression
- Mechanical Vapor
- Compression
- Reverse Osmosis and Electro dialysis
Complete Water Treatment Solution Provider…
. . . With complete portfolio of Water Solutions with technological and operational expertise . . . . . through various business/ delivery model
ENRICHING LIVES ENGINEERING GROWTH 5
Asset light business model
Focus on 'Value-Added & High Margin' work processes; Limits investment in Asset Base
Key Highlights Q1 FY 21 - 22
Quarterly Performance & Business Updates
Order Book Analysis
Key Highlights Q1 FY 22
ENRICHING LIVES
ENGINEERING GROWTH 8
Highlights – Q1 FY 22
Profitable Growth Continues…
- Order Book of over Rs. 104 Bn including framework orders
- Order Intake of over Rs. 14 Bn
- Consolidated Revenue at Rs. 6.5 Bn
- Consolidated EBITDA at Rs. 401 Mn
Consolidated PAT at Rs. 152 Mn Tertiary Treatment Reverse Osmosis ('TTRO') Plant Koyambedu, Chennai, India
Quarterly Performance
ENRICHING LIVES
ENGINEERING GROWTH 10
RESULTS OVERVIEW – Consolidated Profit and Loss
| Rs. Millions | Q1FY 22 | Q1FY 21 | YOY % |
|---|---|---|---|
| Revenue from Operations | 6,580 | 4,309 | 52.7% |
| Cost of Sales | 5,355 | 3,256 | 64.5% |
| Total Cost of Operations (TCO) | 824 | 764 | 7.9% |
| EBITDA | 401 | 289 | 38.7% |
| EBITDA margin | 6.1% | 6.7% | |
| Net InterestCost | 57 | 99 | (42.8%) |
| Bank Charges | 127 | 103 | 24.2% |
| Depreciation & Amortization | 27 | 29 | (8.0%) |
| Tax | 57 | 23 | 146.5% |
| Share of Profits from Associates/ MI (Net) | 19 | 16 | 331.8% |
| Profit After Tax (Owners) | 152 | 51 | 200.0% |
| PAT margin | 2.3% | 1.2% |
• YoY increase in Revenue is a factor of phase of projects under execution and the operations are at almost pre-COVID level
- Net Interest cost reduction driven by lower debt
- Bank charges driven by high order book & higher share of International orders
ENRICHING LIVES
RESULTS OVERVIEW – Standalone Profit and Loss
| Rs. Millions | Q1FY 22 | Q1FY 21 | YOY % |
|---|---|---|---|
| Revenue from Operations | 4,696 | 2,817 | 66.7% |
| Cost of Sales | 3,960 | 2,136 | 85.4% |
| Total Cost of Operations (TCO) | 472 | 440 | 7.2% |
| EBITDA | 264 | 241 | 9.5% |
| EBITDA margin | 5.6% | 8.5% | |
| Net InterestCost | 57 | 85 | (32.9%) |
| Dividend Income | 51 | - | ~ |
| Bank Charges | 106 | 86 | 23.2% |
| Depreciation & Amortization | 14 | 16 | (8.3%) |
| Tax | 34 | 13 | 147.8% |
| Profit After Tax | 104 | 41 | 155.0% |
| PAT margin | 2.2% | 1.4% |
- Higher cost of sales driven by extended stay costs on few projects and increase in cost of metals and plastics
- Lower Net Interest cost due to lower debt levels YoY; bank charges driven by international order backlog
ENRICHING LIVES ENGINEERING GROWTH 13 Order Book Analysis
Revenue Breakup – Q1 FY 22
| Rs. Millions | EPC | O&M | Total | EPCO&M | ||
|---|---|---|---|---|---|---|
| Municipal | Industrial | Municipal | Industrial | 15% | ||
| Wabag India # | 2,459 | 1,423 | 613 | 98 | 4,593 | |
| WabagOverseas | 1,461 | 207 | 250 | 7 | 1,925 | MunicipalIndustrial |
| Total | 3,920 | 1,630 | 863 | 105 | 6,518 | 27% |
| # Including HAM SPVs | EPC [Rs. Bn.] | O&M [Rs. Bn.] | ||||
| 3.2Q1 FY 21 | 71%5.5Q1 FY 22 | 0.9Q1 FY 20 | 0.9Q1 FY 21 | IndiaEurope5%25%* Rest of the World | ||
| ENRICHING14ENGINEERING | LIVESGROWTH |
70%
Key Projects Contributing to Revenue – Q1 FY 22
| Project Details | Revenue recognized[Rs. Mn] |
|---|---|
| Expansion SWTP 9, Jubail, KSA –STP | 802 |
| Dangote, Nigeria -ETP & RWTP | 552 |
| MRPL,Karnataka–Desal | 538 |
| 50MLDZarat,Tunisia–Desal | 416 |
| South Doha, Qatar –STP | 335 |
| JeddahAirport,KSA–STP | 328 |
| UPJN,O&MofAgra&Ghaziabad | 323 |
| Karmalichak,Bihar–SewerageNetwork | 246 |
| JAJMAU,Kanpur–CETP | 196 |
| Polgahawela,Srilanka–WTP | 161 |
Order Intake Breakup
| Rs. Millions | EPC | O&M | Total | ||
|---|---|---|---|---|---|
| Municipal | Industrial | Municipal | Industrial | ||
| Wabag India | 86 | 12,238 | 217 | 5 | 12,546 |
| WabagOverseas | 1,494 | 21 | 343 | 45 | 1,903 |
| Total | 1,579 | 12,259 | 560 | 50 | 14,448 |
| Key Orders Received | Order Value(Rs. Mn.) |
|---|---|
| AGCC,Russia-IntegratedTreatmentFacilities | 12,213 |
Order Book Composition
| Rs. Millions | EPC | O&M | Total | ||
|---|---|---|---|---|---|
| Municipal | Industrial | Municipal | Industrial | ||
| Wabag India # | 25,635 | 17,005 | 28,210 | 1,348 | 72,198 |
| WabagOverseas | 17,651 | 304 | 1,906 | 1,021 | 20,882 |
| FrameworkContracts | 11,426 | ||||
| Total | 43,286 | 17,309 | 30,116 | 2,369 | 104,506 |
# Includes HAM SPVs
ENRICHING LIVES ENGINEERING GROWTH 17
Order Book of Rs. 93.1 Bn & Framework Contracts of Rs. 11.4 Bn
| Key Contracts in Orderbook | |
|---|---|
| Project Details | Amt [Rs. Mn] |
| UPJN, O&M of Agra & Ghaziabad | 16,332 |
| AGCC, Russia -Integrated Treatment Facility | 12,213 |
| BUIDCO, Digha & Kankarbagh –STP & Network | 9,344 |
| KMDA, Howrah –STP | 3,792 |
| JAJMAU,Kanpur –CETP | 3,385 |
| 50 MLD Zarat, Tunisia –Desal | 2,836 |
| Jeddah Airport, KSA –STP | 2,769 |
| Expansion SWTP 9, Jubail, KSA –STP | 2,185 |
| IpsachBiel SWW, Switzerland –WTP | 2,106 |
| Water Supply System, Bhagalpur, India –WTP & Network | 2,074 |
| Koyambedu O&M, Chennai –TTRO | 1,937 |
- Libya STP of Rs. 6,114 Mn
- Bomba MED, Libya of Rs. 5,312 Mn
* Contracts wherein Advance Monies / LC awaited, hence not taken in Order Book
ENRICHING LIVES
ENGINEERING GROWTH
ENRICHING LIVES ENGINEERING GROWTH 19 Awards and Accolades
Year 2021
Environment Health Safety (EHS) Excellence Awards
World's Top 50 Private Water Operators
Received 4 Prestigious Recognitions at the Environment Health Safety (EHS) Excellence Awards organized by Confederation of Indian Industry (CII) South Zone
WABAG ranked 4th globally by GWI for ensuring safe & clean drinking water and sanitation for over 71 million people across the globe
ENRICHING LIVES ENGINEERING GROWTH ENRICHING
Year 2020
Global Water Awards 2020
Distinction Award under "Wastewater Project of the Year" from the Global Water Intelligence for our Koyambedu TTRO Plant, Chennai
National Water Awards 2019
National Water Awards 2019 for 'Best Research / Innovation / Adaptation of New Technology for Water Conservation'
Global Water Awards 2020
Water Digest Awards 2019 – 20
Highly Commended Award under "Industrial Project of the Year" from the Global Water Intelligence for our Petronas IETP, Malaysia
Bestowed with 'Best Water Treatment Project – Industrial' & 'Excellence Award for Best CSR in Water Sector' at the Water Digest Water Awards 2019-20
Year 2019
World's top 50 private water operators
WABAG ranked 6th globally among the "World's top 50 private water operators" by Global Water Intelligence
ENRICHING LIVES
ENRICHING
ENGINEERING GROWTH
IDA World Congress Awards 2019
Received the "Most Innovative Company" award at the International Desalination Association World Congress 2019
Dun & Bradstreet Infra Award 2019
Honoured with the Dun & Bradstreet Infra Award 2019 for the 140 MLD Dinapur WWTP, Varanasi
Global Water Awards 2019
Distinction Award under "Wastewater Project of the Year for our AMAS WWTP, Bahrain
Water Digest Water Awards 2019
"Best Water Treatment Project - Industrial" at the Water Digest Water Awards 2018-19
Year 2018
Water Management Excellence Awards 2018
Water Management Excellence Award for "Outstanding Contribution in Water Efficiency & Conservation" by ASSOCHAM
Water Digest Water Awards 2018
"Best Water Treatment Project - Industrial" at the Water Digest Water Awards 2018-19
Year 2017
Top 10 Global Water Companies
Ranked among the Top 10 Global Water Companies by GWI for serving over 20 million people globally
Dun & Bradstreet Infra Award 2017
Honoured with the Dun & Bradstreet Infra Award 2018 for the K&C Valley WWTP, Bengaluru
Year 2016
Global Water Awards 2016
Highly Commended Award under "Water Company of the Year"
Dun & Bradstreet Infra Award 2016
Best Infra Project Award for 100 MLD Nemmeli SWRO Desalination Plant
Global Water Awards 2016
Highly Commended Award under "Industrial project of the Year" for our Dahej Effluent Treatment Plant, India
Year 2015
Global Water Award 2015
"Industrial Water Project of the Year" for Ujams Industrial Water Reclamation Plant, Namibia
Year 2014
Global Water Award 2014
Distinction Award for "Water Company of the Year"
For further information, please contact
Company : Investor Relations Advisors :
VA Tech Wabag Ltd. CIN - L45205TN1995PLC030231
Mr. Skandaprasad Seetharaman, Chief Financial Officer [email protected]
Stellar IR Advisors Pvt. Ltd. CIN - U74900MH2014PTC259212
Mr. Gaurang Vasani, Managing Director [email protected]