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Ultra Clean Water

VA Tech Wabag

WABAGNSESmall Cap
Live₹1,500syncing…

Global water treatment EPC with municipal, industrial and emerging UPW exposure for semiconductor fabs.

Market Cap
₹9.3k cr
Price
1500
1Y 32%
Direct exposure
35/100
0–100 directness
Hold / Watchlist
Fundamental
61/ 100
B

Quality of growth, returns, cash conversion and balance sheet

Technical (TQ-100)
84/ 100
A

Trend, momentum, volume and relative strength composite

Valuation
60/ 100

Higher = cheaper vs peers and own history

Final composite
65/ 100

Blended decision input

Data transparency

What's real, what's pending, on this page

Real financials loaded
✓ Real / verified
  • · Live price, day change, market cap — NSE direct
  • · 1Y OHLCV, RSI(14), 50/200 DMA, 1M/3M/1Y returns, RS vs Nifty — computed from real NSE OHLCV
  • · Sector P/E — NSE direct
  • · Promoter %, pledge %, MF/FII/public split, 9-quarter history — Trendlyne
  • · Earnings call AI summaries — Trendlyne (where available)
  • · Technical (TQ-100) score — computed from real OHLCV
  • · Annual revenue / EBITDA / PAT / OCF / FCF / equity / assets — Trendlyne (audited annuals)
⚠ Analyst-set (qualitative)
  • · Segment classification + semicon directness score — analyst seed
  • · Bull/bear case + monitorables (curated thesis) — analyst seed
  • · Governance risk score (seed) — being replaced by AI-agent assessment
  • · Synthesized 5Y forecast removed entirely (was inaccurate)
Real financials extracted for 42 of 45 companies. See /data-sources for full provenance.
VA Tech Wabag · WABAG
₹1,500+36.50% over 6M
Price50 DMA200 DMA
RSI (14)
Momentum oscillator · 6M view
Volume (60D)
Fundamental score (SageOne 100)
61/ 100B

Growth 20 / Margin 15 / ROC 20 / Cash 15 / Leverage 10 / Reinvestment 8 / Accounting 7 / Governance 5 minus red flags (capped -20).

Base 61
Growth quality/ 20
8.3
Rev 1Y 14.5% · 3Y CAGR 10.3%
Margin & profitability/ 15
6.7
EBITDA 13.0% · PAT 9.3%
Return on capital/ 20
12.4
ROCE 22% · ROE 18%
Cash flow quality/ 15
10.7
OCF/EBITDA 70% · FCF yield 2.8%
Leverage discipline/ 10
8.0
Net Debt/EBITDA 0.60x
Reinvestment runway/ 8
5.3
ROCE × retention proxy
Accounting quality/ 7
6.1
OCF conversion proxy
Governance/ 5
3.8
Pledge 0.0% · Risk 24/100
✓ Computed from real Trendlyne annuals (revenue, EBITDA, PAT, OCF, equity).
Technical score (TQ-100)
84/ 100A

Computed from real 1Y OHLCV pulled from NSE direct: trend, momentum, volume, RS vs Nifty, MA cluster, mean reversion, volatility, patterns minus red flags.

Base 84
Trend structure/ 20
19.1
Above 200DMA · -11% from 52W high
Momentum velocity/ 15
15.0
RSI(14) 60 · 1M 4.0%
Volume dynamics/ 15
8.3
Bucket: Small Cap
Relative strength/ 15
11.5
RS vs Nifty 16%
MA cluster/ 10
10.0
200DMA + 1Y trend confirmation
Mean-reversion runway/ 10
8.3
RSI(14) 60; ideal 50-60
Volatility profile/ 8
4.8
Bucket: Small Cap
Pattern integrity/ 7
7.0
Trend continuation proxy

AI research agents

Re-classify segment exposure and re-assess governance risk by running fresh AI agents on the latest data. Results cache to data/agents.json.

Segment classifier
Maps to value-chain segments + computes 0-100 directness
Seed: Ultra Clean Water · 35/100
Governance assessor
Forensic-accounting flags + 0-100 risk score
Seed: 24/100 risk

AI thesis

Generates a fresh thesis grounded in this company's data. Wires to Anthropic when ANTHROPIC_API_KEY is set, otherwise returns a deterministic mock.

Curated thesis

Analyst-set bull, bear and monitorables · use AI thesis above for a fresh take

Cheaper UPW play with execution turnaround; semiconductor-fab exposure is optionality on top of core EPC business.

Bull case
  • +Reasonable valuation
  • +Execution turnaround
  • +UPW optionality
Bear case
  • −Working capital intensity
  • −Order book volatility
  • −Margin variability
Key monitorables
Receivables daysIndustrial order shareMargin trajectory

Semiconductor exposure

How direct, how visible

Primary segment
Ultra Clean Water
All segments
Ultra Clean Water
Exposure type
Ancillary
Policy beneficiary
Yes
Import substitution
Medium / Low
Governance risk score
24/100 (lower = better)

Financial snapshot

Latest reported metrics · mock data, ready for live financials

Rev growth (1Y)
14.5%
Rev CAGR (3Y)
10.3%
EBITDA margin
13.0%
PAT margin
9.3%
ROCE
22%
ROE
18%
OCF / EBITDA
70%
Net Debt / EBITDA
0.6x
Promoter holding
19.2%
Promoter pledge
0.0%
Valuation
P/E (TTM)
27.4
Forward P/E
22.0
EV/EBITDA
24.6
EV/Sales
3.2
P/B
6.3
FCF Yield
2.8%
Dividend Yield
0.40%
Hist. percentile
55%
Peer percentile
45%
Technicals
RSI(14)
60
1M return
4.0%
1Y return
32%
From 52W high
-11%
RS vs Nifty
16%
>200 DMA
Yes
Annual financials — real data

Extracted from Trendlyne · audited annuals · TTM + last 6 fiscal years

✓ Real
LineTTMFY25FY24FY23FY22FY21FY20
Revenue₹3.2k cr₹2.9k cr₹2.5k cr₹2.4k cr₹2.2k cr₹1.9k cr₹1.8k cr
↳ YoY growth+11.4%+14.5%+6.5%+9.9%+17.2%+4.9%—
EBITDA₹424 cr₹380 cr₹356 cr₹202 cr₹179 cr₹181 cr₹174 cr
↳ EBITDA margin13.1%13.0%14.0%8.5%8.3%9.8%9.8%
PAT₹311 cr₹271 cr₹236 cr₹1 cr₹92 cr₹73 cr₹59 cr
↳ PAT margin9.6%9.3%9.3%0.1%4.2%3.9%3.3%
OCF₹421 cr₹265 cr₹218 cr₹-38 cr₹105 cr₹132 cr₹-95 cr
↳ OCF / EBITDA99.4%69.8%61.4%-19.0%58.4%72.9%-54.4%
FCF (= OCF − capex)₹278 cr₹261 cr₹169 cr₹-78 cr₹105 cr₹93 cr₹-105 cr
Total Equity₹1.8k cr₹1.5k cr₹1.3k cr₹1.3k cr₹1.2k cr₹977 cr₹917 cr
Total Assets₹4.4k cr₹3.7k cr₹3.1k cr₹3.1k cr₹3.1k cr₹3.0k cr₹2.8k cr
↳ ROE17.4%18.1%18.7%0.1%7.9%7.5%6.4%
↳ ROA7.0%7.3%7.7%0.0%2.9%2.4%2.1%
Source: Trendlyne (Standalone where Consolidated unavailable). Last refresh on real-data ingest.
Promoter pledge & shareholding history

From Trendlyne · 9 quarters · synced Invalid Date

Pledge: 0.0%
Promoter
19.1%
Mutual Funds
5.1%
FII
16.6%
Public
58.5%
Promoter holding trend
19.1
Mar
19.1
Jun
19.1
Sep
19.1
Dec
19.1
Mar
19.1
Jun
19.1
Sep
19.1
Dec
19.1
Mar
Δ:+0.0% over 9 quarters
Commentary
  • ·Low promoter holding (19.1%) — alignment risk
  • ·No pledge
Management quality

Capital allocation, debt discipline, alignment, governance composite. Computed from disclosed metrics.

Capital allocation
Sustained high return on capital indicates disciplined reinvestment.
ROCE 22%, div yield 0.4%
Promoter holding
Low promoter holding — alignment risk.
19.2%
Promoter pledge
No pledging — cleanest signal.
0.0%
Debt discipline
Comfortable leverage band.
Net Debt/EBITDA 0.60x
Cash conversion
Acceptable conversion; track working capital cycles.
OCF/EBITDA 70%
Governance composite
Some watchpoints; nothing disqualifying.
24/100 risk
Variant perception

What the market is pricing in versus our read, and what would invalidate the thesis.

What the market is pricing in

Steady but unspectacular execution. Multiples reflect mid-pack expectations.

What we think it's missing

Consensus appears reasonable. Look for thesis-changing catalysts (margin inflection, new customer wins, segment mix shift) rather than narrative re-rating alone.

Thesis killers
  • ×Working capital blowout disclosed in next quarterly result

References

Wire to live data sources in production

NSE filingsScreenerBSE corporate filingsAnnual report (latest)Concall transcript (latest)Investor presentation