Va Tech Wabag: Consolidated segment results
| Segments | 1803 (3) | 1703 (3) | Var. (%) | % to Total | 1803 (12) | 1703 (12) | Var. (%) | % to Total |
| Sales | ||||||||
| India | 264.07 | 453.87 | -42 | 26 | 945.95 | 1170.80 | -19 | 27 |
| Rest of the World | 770.86 | 737.20 | 5 | 74 | 2592.56 | 2156.12 | 20 | 73 |
| TOTAL | 1034.93 | 1191.07 | -13 | 100 | 3538.51 | 3326.92 | 6 | 100 |
| Less: intersegment sales | 8.25 | 63.89 | 110.46 | 140.80 | ||||
| Add: Unallocable sales | 10.80 | 4.56 | 29.23 | 21.79 | ||||
| Net Sales | 1037.48 | 1131.74 | 3457.28 | 3207.91 | ||||
| PBIT | ||||||||
| India | 13.56 | -17.57 | LP | 6 | 101.60 | 122.42 | -17 | 14 |
| Rest of the World | 204.05 | 241.82 | -16 | 94 | 612.39 | 482.50 | 27 | 86 |
| TOTAL | 217.61 | 224.25 | -3 | 100 | 713.99 | 604.92 | 18 | 100 |
| Less interest | 13.21 | 9.96 | 52.03 | 42.79 | ||||
| Less unallocable expenditure net of inc. | 134.72 | 99.45 | 449.74 | 391.62 | ||||
| Add unallocable income | 8.27 | -2.72 | 12.23 | 8.39 | ||||
| PBT | 77.95 | 112.12 | 224.45 | 178.90 | ||||
| Figures in Rs crore Source: Capitaline Database |
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For the quarter ended December 2018, Va Tech Wabag reported a 23% fall in its consolidated sales to Rs 661.90 crore. OPM fell 150 basis points to 7.4% which saw OP fall 37% to Rs 49.31 crore.
Other income fell 37% to Rs 53 lakh and interest cost rose 32% to Rs 18.79 crore. After providing for depreciation (down 5% to Rs 4.12 crore), PBT fell 55% to Rs 26.93 crore.
Provision for taxation slumped 40% to Rs 14.88 crore (tax incidence grew from 41.4% to 55.3%), after which PAT went down 66% to Rs 12.05 crore.
Minority interest and share of profit/loss of associate companies stood at a positive Rs 3.37 crore against a negative Rs 5.05 crore..
Finally net profit fell 49% to Rs 15.42 crore.
Nine months results
For the nine months, Va Tech Wabag reported a 13% fall in its consolidated sales to Rs 2101.71 crore. OPM fell 90 basis points to 7.4% which saw OP fall 23% to Rs 156.53 crore.
Other income fell 46% to Rs 1.63 crore and interest cost rose 23% to Rs 51.30 crore. After providing for depreciation (down 6% to Rs 12.57 crore), PBT fell 37% to Rs 91.03 crore.
Provision for taxation slumped 38% to Rs 39.10 crore (tax incidence remained at 43%), after which PAT went down 37% to Rs 51.93 crore.
Minority interest and share of profit/loss of associate companies stood at a positive Rs 12.30 crore against a negative Rs 8.30 crore..
Finally net profit grew 13% to Rs 64.25 crore.
Consolidated segment Performance
During the quarter Indian business contributed 31% of the total revenue. Revenue fell 3% to Rs 221.55 crore. PBIT stood at a profit of Rs 40.48 crore same as last year and accounted for 27% of total
During the quarter Rest of the World business accounted for 69% of the total revenue. Revenue fell 23% to Rs 496.40 crore. PBIT fell 22% to Rs 107.44 crore and accounted for 73% of total
For the nine months Indian business contributed 31% of the total revenue. Revenue stagnated at Rs 680.93 crore. PBIT grew 9% to Rs 95.79 crore and accounted for 20% of total
During the nine months Rest of the World business accounted for 69% of the total revenue. Revenue fell 16% to Rs 1526.93 crore. PBIT fell 8% to Rs 377.36 crore and accounted for 80% of total
Order book
Order intake stood at Rs 3566.6 crore out of which Rs 2340.4 crore was in Wabag India and Rs 1226.2 crore in Wabag Overseas.
It has order Book of Rs 8360 crore & Framework Contracts of Rs 7000 crore.
Out of the order book, Rs 6779.70 is from EPC segment and the rest Rs 1581 is from the O&M.
Valuation
The share price trades at Rs 274.
Va Tech Wabag: Consolidated results
| 1812 (3) | 1712 (3) | Var. (%) | 1812 (9) | 1712 (9) | Var. (%) | 1803 (12) | 1703 (12) | Var. (%) | |
| Sales | 661.9 | 864.7 | -23 | 2101.71 | 2419.8 | -13 | 3457.28 | 3207.91 | 8 |
| OPM (%) | 7.4 | 9.0 | 7.4 | 8.4 | 8.4 | 9.2 | |||
| OP | 49.31 | 77.67 | -37 | 156.53 | 203.04 | -23 | 291.76 | 296.62 | -2 |
| Other income | 0.53 | 0.84 | -37 | 1.63 | 3.03 | -46 | 5.65 | 11.23 | -50 |
| PBIDT | 49.84 | 78.51 | -37 | 154.90 | 200.01 | -23 | 297.41 | 307.85 | -3 |
| Interest | 18.79 | 14.23 | 32 | 51.30 | 41.85 | 23 | 57.68 | 52.58 | 10 |
| PBDT | 31.05 | 64.28 | -52 | 103.60 | 158.16 | -34 | 239.73 | 255.27 | -6 |
| Dep. | 4.12 | 4.33 | -5 | 12.57 | 13.31 | -6 | 17.84 | 19.11 | -7 |
| PBT | 26.93 | 59.95 | -55 | 91.03 | 144.85 | -37 | 221.89 | 236.16 | -6 |
| EO | 0.00 | 0.00 | -- | 0.00 | 0.00 | -- | 0.00 | 0.00 | -- |
| PBT after EO | 26.93 | 59.95 | -55 | 91.03 | 144.85 | -37 | 221.89 | 236.16 | -6 |
| Tax | 14.88 | 24.84 | -40 | 39.10 | 62.87 | -38 | 77.40 | 66.66 | 16 |
| PAT | 12.05 | 35.11 | -66 | 51.93 | 81.98 | -37 | 144.49 | 169.50 | -15 |
| Share of profit from Ass & JV | 0.04 | 0.72 | -94 | 2.86 | 1.65 | 73 | 2.56 | -57.26 | -104 |
| Minority Interest | -3.33 | 5.77 | -158 | -9.46 | 9.98 | -195 | 15.54 | 9.84 | 58 |
| Net profit | 15.42 | 30.06 | -49 | 64.25 | 73.65 | -13 | 131.51 | 102.40 | 28 |
| EPS (Rs)* | # | # | # | # | 24.1 | 18.7 | |||
| * EPS on current equity capital of Rs 10.93 crore; Face Value: Rs 2 Figures in Rs crore LP: Loss to Profit Source: Capitaline Database |
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Va Tech Wabag: Consolidated segment results
| Segments | 1812 (3) | 1712 (3) | Var. (%) | % to Total | 1812 (9) | 1712 (9) | Var. (%) | % to Total |
| Sales | ||||||||
| India | 221.55 | 226.76 | -2 | 31 | 680.93 | 681.88 | 0 | 31 |
| Rest of the World | 496.40 | 648.46 | -23 | 69 | 1526.93 | 1821.70 | -16 | 69 |
| Others | -- | -- | ||||||
| TOTAL | 717.95 | 875.22 | -18 | 100 | 2207.86 | 2503.58 | -12 | 100 |
| Add: Unallocable sales | 11.43 | 5.59 | 27.19 | 18.43 | ||||
| Less: intersegment sales | 67.48 | 16.11 | 133.34 | 102.21 | ||||
| Net Sales | 661.90 | 864.70 | 2101.71 | 2419.80 | ||||
| PBIT | ||||||||
| India | 40.48 | 40.32 | 0 | 27 | 95.79 | 88.04 | 9 | 20 |
| Rest of the World | 107.44 | 138.24 | -22 | 73 | 377.36 | 408.34 | -8 | 80 |
| Others | -- | -- | ||||||
| TOTAL | 147.92 | 178.56 | -17 | 100 | 473.15 | 496.38 | -5 | 100 |
| Less interest | 18.26 | 13.39 | 49.67 | 38.82 | ||||
| Less unallocable expenditure net of inc. | 109.44 | 104.98 | 342.34 | 449.74 | ||||
| Add unallocable income | 6.75 | 0.48 | 3.96 | 12.23 | ||||
| PBT | 26.97 | 60.67 | 85.10 | 20.05 | ||||
| Figures in Rs crore Source: Capitaline Database |
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