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Water and waste water treatment company VA Tech Wabag on Friday said it has received an order worth Rs 270 crore from Reliance Industries for an effluent treatment and recycle facility.
The company will construct an effluent treatment plant with recycle facility for Reliance's proposed PTA and PET Dahej manufacturing plant in Gujarat and tertiary treatment plant for RIL's Hazira complex.
The effluent from the facility will be recycled and reused in the Dahej complex. The proposed effluent treatment plant and recycle facility is the first large scale recycle plant for PTA wastewater in India, VA Tech Wabag said.
The Dahej effluent treatment and recycle facility is expected to be completed in 21 months, it added.
VA Tech had earlier executed a effluent treatment plant for RIL's Jamnagar refinery in 1999.
VA Tech shares jumped post the order announcement and were trading at Rs 447.65, up 3% on NSE at 10:00 hrs.
Va Tech Wabag stock price
On April 27, 2015, Va Tech Wabag closed at Rs 641.25, down Rs 42.65, or 6.24 percent. The 52-week high of the share was Rs 1940.00 and the 52-week low was Rs 391.93.
The company's trailing 12-month (TTM) EPS was at Rs 16.13 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 39.76. The latest book value of the company is Rs 111.07 per share. At current value, the price-to-book value of the company is 5.77.
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