### **Company Overview** **VA Tech Wabag Ltd (WABAG)** is a globally recognized, pure-play water technology company headquartered in Chennai, India, with over **100 years of legacy** in sustainable water and wastewater management. Operating across **25+ countries** on four continents, WABAG delivers end-to-end solutions across the entire water value chain—design, engineering, procurement, construction, commissioning, and long-term **Operations & Maintenance (O&M)**. The company serves both **municipal and industrial clients** under a diverse portfolio of business models including **EPC, DBO, BOOT, HAM, and EP**, emphasizing an **asset-light, technology-led approach**. Ranked **3rd globally by Global Water Intelligence (GWI)** among private water operators and **top 5 in desalination**, WABAG provides safe water and sanitation to over **88.8 million people**, with installed capacities of **over 27,000 MLD of treated wastewater and 1,400 MLD of desalinated water**. It has executed over **6,500 water and wastewater projects** since inception. --- ### **Strategic Vision & Growth Model: “Wriddhi” Strategy** WABAG's long-term strategy, **“Wriddhi”**, aims to drive **profitable growth, capital efficiency, and leadership in global water security**. Key strategic pillars include: - Transition to a **50-50 revenue split between domestic (India) and international markets**. - Increase **O&M revenue contribution to 20%** (currently at 19% in FY25) for stable, annuity-like income. - Focus on **engineering and procurement (EP)** in high-margin industrial and international sectors to improve margins and reduce construction risk. - Expand **public-private partnerships (PPPs)** via HAM and DBO models. - Drive innovation through **R&D centers in India and Europe**, holding **over 125 proprietary intellectual property (IP) rights**. This strategy has driven **Return on Equity (RoE) from 7.9% in FY21 to an expected 15% in FY25**. --- ### **Core Business & Competitive Differentiation** WABAG has established leadership in **complex, technology-intensive water solutions** through: - **Desalination (SWRO & thermal)**: One of the **global top 5 players**, with landmark projects like the **400 MLD Perur plant (Asia’s largest)** in Chennai. - **Zero Liquid Discharge (ZLD) & Industrial Effluent Management**: A pioneer in high-efficiency systems for industries such as **oil & gas, power, petrochemicals, refining, and semiconductors**. - **Tertiary Treatment & Water Reuse**: Award-winning RO and membrane-based reuse systems in **Chennai, Ghaziabad, and Bangladesh**, supporting circular economy goals. - **Proprietary Technologies**: Developed in-house IP such as **Nereda®, iEDR™, CERAMOPUR®, PACOPUR®, BIOZONE®, and CARBOPUR®**, enabling tailored solutions for micro-pollutant removal, desalination, and energy efficiency. WABAG's **asset-light model** focuses on **in-house engineering and technology** while outsourcing civil works. It maintains robust **R&D collaboration** with institutions like IITs, Anna University, Vienna University of Technology, and EAWAG. --- ### **Recent Strategic Expansion: Future Energy Solutions** As of **November 2025**, WABAG is strategically expanding into **high-growth clean energy and technology sectors**, under its **Future Energy Solutions** initiative: #### **1. Ultra-Pure Water (UPW) for Solar & Semiconductors** - Secured **breakthrough orders** for **UPW, ETP, and ZLD systems** for solar cell manufacturing facilities. - Landmark **₹46.50 crore (INR 465 million)** order from **RenewSys, Hyderabad**, to build an **advanced UPW plant** using **ultrafiltration, reverse osmosis (RO), and electrodeionization (EDI)**. - Another **₹1,000 crore order** from **Indosol Solar (Andhra Pradesh)** for a **100 MLD desalination plant** to support a **10 GW integrated solar PV facility**, including a **15-year O&M contract**. - UPW market poised for strong growth in India, aligned with **130 GW solar cell manufacturing target by 2030** under **Make in India and PLI schemes**. #### **2. Compressed Biogas (CBG) & Waste-to-Energy** - Secured **Bio-CNG/Biogas upgradation** projects across **Uttar Pradesh, Karnataka, and Bahrain**, using **sewage sludge and municipal waste**. - Projects aligned with **India’s SATAT scheme**, which ensures **fixed-price off-take by OMCs**, providing stable revenue. - Partnered with **Peak Sustainability Ventures** to establish **100 CBG plants** across India, GCC, Africa, and Europe—representing ~**USD 200 million** in business. - Secured **Build-Operate-Transfer (BOT) model** CBG order for a major Indian client. #### **3. Green Hydrogen & Data Centers** - Positioned to support **green hydrogen** production through **high-purity water treatment** (critical input for electrolysis), with ongoing discussions with **six green hydrogen developers**. - Targeting **data center cooling water solutions**, leveraging **advanced membrane and reuse technologies** to deliver **sustainable, closed-loop water systems**. - Deploying **treated sewage reuse** and **zero liquid discharge (ZLD)** to meet growing water demands of hyperscalers. --- ### **Global Execution & International Growth** WABAG is executing a **"Glocal" strategy**—combining **global engineering excellence with local adaptation**—to capture infrastructure investments in high-growth regions: #### **Middle East & Africa (MEA)** - **MEA is a strategic growth engine**, contributing nearly **50% of revenues**. - Secured a **$196 million EPC contract** for a **200 MLD sewage treatment plant (Al Haer, Riyadh)**, using **Nereda® technology**. - Won a **$33.5 million EP order** for **Aramco’s 20 MLD Ras Tanura refinery** effluent treatment. - Executing the **300 MLD Yanbu Mega Desalination Plant** and **200 MLD Al Haer STP**; both advancing rapidly. - Onboarded **29 new clients in FY25**, with **6x increase in MEA order inflow**. #### **Africa & CIS** - Entered **Zambia** with a **73,000 m³/day DBO project** in Ngwerere and Chunga, integrating **biogas and solar power**. - Expanded into **Uzbekistan, Kazakhstan, and Nigeria**, supported by **DFI and export credit financing**. - Executed breakthrough projects in **Senegal (50 MLD desalination, €146 million)** and **Tunisia (Zarat 50 MLD SWRO)**. - Won its **largest Oil & Gas order to date** in **Russia (Amur Gas Chemical Complex)** under **challenging sub-zero conditions**, reinforcing technological leadership. #### **South & Southeast Asia** - Major projects in **Bangladesh (300 MLD Pagla STP)** under World Bank/ADB funding. - Growing presence in **Vietnam, Malaysia, and Singapore**, capitalizing on demand for **water reuse and circular economy models**. --- ### **Key Projects in Execution (Nov 2025)** | **Project** | **Location** | **Capacity / Value** | **Technology & Model** | |------------|------------|---------------------|--------------------------| | **Perur Desalination Plant** | Chennai, India | 400 MLD / INR 4,400 Cr | SWRO, EPC, JICA-funded | | **Al Haer Sewage Treatment Plant** | Riyadh, KSA | 200 MLD / $196 Mn | Nereda®, EPC | | **Madinat Salman STP O&M** | Bahrain | 40 MLD / INR 1,181 Mn | O&M, 5-year contract | | **Jubail Industrial City STP** | Saudi Arabia | 120 MLD / $126 Mn | Wastewater + ZLD | | **Indosol Solar Desalination Plant** | Andhra Pradesh | 100 MLD / ₹1,000 Cr | Desalination + 15-yr O&M | --- ### **Digital & Sustainable Innovation** - **Blue Seed Initiative**: WABAG’s innovation ecosystem to **invest in and mentor early-stage water tech startups**, including **pre-seed funding and pilot programs**. - **Strategic partnership with Pani Energy**: Deploying **AI-driven operational intelligence (Pani ZED™)** at **Koyambedu TTRO plant** to optimize **energy, chemical use, and uptime**. - **Digitalization of networks**: Piloting **AI-powered monitoring and digital twins** across India and the Middle East. - Strong **ESG alignment** through **biogas-to-energy**, **water reuse**, and **power-neutral plants** (e.g., **Varanasi STP under Namami Gange**). --- ### **Financial & Order Book Strength** - **Order Book (Nov 2025)**: **Over INR 13,600 crore** (>$1.6 billion), largely backed by **multilateral funding (JICA, ADB, World Bank)** and sovereign guarantees. - **Geographic Mix**: ~**60% international**, ~**40% India**. - **Business Mix**: ~**58% EPC, 42% O&M**—providing strong revenue visibility for **3–4 years**. - **O&M Revenue**: Growing to **19–20%** of total revenue, with **98 plants under long-term O&M contracts globally**. --- ### **Strategic Partnerships & Capital Strategy** - **$100 Million (INR 825 Crores) Equity Platform** established with **global financial institutions and Norfund**, enabling **scalable PPP-led urban water projects** while maintaining an **asset-light model**. - Collaboration with **Pani Energy, Peak Sustainability Ventures, and Al Jomaih Energy & Water** to accelerate growth in **digital, CBG, and MEA markets**. ---