
JM Financial has initiated coverage on VA Tech Wabag with a Buy rating and a target price of ₹1,755, according to reports from The Hindu BusinessLine. The brokerage values the stock at 23x FY28E EPS to arrive at this target price. The current market price stands at ₹1,440.85, indicating an upside potential of approximately ₹314.85 from current levels.
As reported by The Hindu BusinessLine, JM Financial estimates PAT to grow at 17% CAGR over FY25–28E. The company maintains a robust order backlog of ₹15,100 crore as of end-December 2025, representing 4.1x TTM revenue. VA Tech Wabag sees an opportunity of ₹40,000 crore in the Indian and global markets of its presence over the next 12-18 months.
VA Tech Wabag shares were trading at ₹1,395.55, up ₹22.15 or 1.61% during recent market sessions, as reported by market data. The stock has touched an intraday high of ₹1,405 and an intraday low of ₹1,373.50, showing positive momentum from the brokerage's positive coverage. The current trading price reflects the market's response to the Buy rating and target price recommendation.
According to the report, VA Tech Wabag is a leading pure-play water technology multinational headquartered in Chennai, India, with over 10 decades of experience in sustainable water and wastewater management. The company provides comprehensive solutions across the entire water cycle, spanning desalination, wastewater treatment, water recycling and reuse, ZLD, and waste-to-energy solutions. With a strong presence in more than 25 countries across the globe, over 125 proprietary technologies and deep-rooted R&D capabilities, it combines advanced in-house technologies with engineering expertise to deliver customised, cost-effective solutions.
As reported by The Hindu BusinessLine, the stock currently trades at 20x/18x FY27/28E EPS. The company's operations span design-build projects and long-term operation and maintenance contracts, delivering consistent value to clients and communities. The brokerage's Buy rating reflects confidence in the company's growth prospects and market position in the water technology sector.