VA Tech Wabag posted a steady set of earnings but margins were a bit of a disappointment. The company concentrates on treatment plants including recycle and reuse.
In an interview to CNBC-TV18, Rajiv Mittal, Chief Executive and Managing Director, VA Tech Wabag, the company's now targeting a revenue of Rs 3,000-3,200 crore in FY17, with an order intake of Rs 4,000-4,200 crore.
In an interview with CNBC-TV18‘s Ekta Batra and Mangalam Maloo, Rajiv Mittal, MD and Group CEO, VA Tech Wabag, discussed the company‘s fourth quarter results.
With VA Tech WABAG‘s 70 percent business coming from the government, its current global order book stands at Rs 5,500 crore, says company MD & CEO Rajiv Mittal.
Amit Sengupta, ED, VA Tech Wabag says the company‘s European market business is witnessing recovery, and its footing in the domestic market remains strong. The company has bagged orders worth around Rs 450 crore since April 1, and expects to add more by June.
The economic health of European countries has raised concerns about VA Tech Wabag’s revenues from those nations. However, Rajiv Mittal, managing director of the company told CNBC-TV18 that they are experiencing no pressure on margins from that market.
Speaking to CNBC-TV18, Rajiv Mittal, managing director of VA Tech Wabag, said that the company’s performance would have been upbeat if exceptional item could have been avoided. However, he added that there is an increase of 20% in the company's orderbook this year compared to the last year.