Buy Va Tech Wabag, recommends Way2Wealth
Way2Wealth is bullish on Va Tech Wabag and has recommended buy rating on the stock, in its research report dated August 19, 2013.
August 19, 2013 / 18:35 IST
Way2Wealth's report on Va Tech Wabag
"Va Tech Wabag, order inflows grew by a robust 93 percentyoy at Rs 10.2bn, of which 86 percent comes from the Municipal segment while the rest comes from the Industrial segment. 80 percent of the order inflows come from the domestic business, whereas 20 percent comes from the International business. Consolidated order backlog for Q1FY14 stands at Rs 50.2bn - a yoy growth of 22 percent (revenue visibility of more than 3yrs) - a growth of 30 percent from the domestic market, contributing to 71 percent of its total order backlog. The international order backlog grew by 7 percent contributing to the rest of the order backlog."Valuations: "Order growth has been quite strong from both the Municipal & the Industrial segment along with foray into leading water focused International geographies of China, Turkey, LatAm & Africa. We recommend a buy rating as the stock trades at 11x FY14E EPS of Rs 40, at its CMP of Rs 454," says Way2Wealth research report.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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