Rajiv Mittal, Managing Director and S Varadarajan, Executive Director addressed the call.

Highlights of the call:

For the quarter ended March 2017, Va Tech Wabag reported a 33% rise its consolidated sales to Rs 1131.74 crore. OPM fell 160 basis points to 11.6% which saw OP grow 17% to Rs 131.67 crore.

PBT grew 15% to Rs 110.78 crore. Net profit grew 16% to Rs 75.73 Rs 75.73 crore.

In FY 2017, Va Tech Wabag reported a 28% rise its consolidated sales to Rs 3207.91 crore. OPM stood at 9.2% which saw OP grow 27% to Rs 296.62 crore.

PBT grew 35% to Rs 236.16 crore. Minority interest and share of profit/loss of associate companies grew 251% to Rs 67.10 crore. Finally net profit grew 15% to Rs 102.40 crore.

Share of profit from associates & minority interest reflects abnormal writeoffs on its Oman project and can be considered as onetime hit.

During the quarter Indian business contributed 38% of the total revenue. Revenue grew 57% to Rs 453.87 crore. PBIT stood at a loss of Rs 27.59 crore against a profit of Rs 52.09 crore and accounted for -12% of total

During the quarter Rest of the World business accounted for 62% of the total revenue. Revenue grew 19% to Rs 737.20 crore. PBIT grew 71% to Rs 251.84 crore and accounted for 112% of total

In FY 2017 Indian business contributed 35% of the total revenue. Revenue grew 21% to Rs 1170.80 crore. PBIT fell 42% to Rs 112.39 crore and accounted for 19% of total

In FY 2017 Rest of the World business accounted for 65% of the total revenue. Revenue grew 29% to Rs 2153.32 crore. PBIT grew 39% to Rs 489.73 crore and accounted for 81% of total

The year FY17 has been a remarkable year.

Notwithstanding the liquidated damages in the Oman Desalination Project, the company has delivered a stellar performance in terms of topline and bottomline. 

Focused and faster execution in large projects helped the company to meet its upper band of revenue guidance.

Good opening order backlog followed through with better execution led to 28% increase in sales in Q4.

Increase in Total Cost of Operations was mainly due to writeoff of investments on liquidation of subsidiary in Spain. This has not affected its consolidated profits.

In March 2017 quarter the company managed to control working capital. In FY 2017 net working capital days fell from 77 to 68.

The quarter saw significant growth in top line through focused execution aided by a healthy backlog.

Cost of sales is different every quarter as it depends on the mix of projects.

In FY 2017 consolidated cash and bank balance stood at Rs 261.7 crore against Rs 362.6 crore.

Order intake stood at Rs 3619.8 crore. Domestic order intake stood at Rs 3038.20 crore and overseas order intake stood at Rs 581.60 crore.

WABAG India won an order from Dangote Oil Refining Company in Nigeria for a value of about US$ 105.5 million.  This is the second direct order for WABAG from Dangote after the Raw Water Treatment Plant order for Dangote Fertilizers which is in an advanced stage of execution.  Dangote Group is the largest Industrial Conglomerate in West Africa. WABAG's scope of work includes Design, Engineering, Procurement, Supervision of Installation and Commissioning & Testing of an Effluent Treatment Plant with Reverse Osmosis, Demineralization & Condensate Polishing and Raw Water Treatment Package. 

WABAG India continued its success in the Oil and Gas space by winning the Sea Water Reverse Osmosis (SWRO) Plant order for a major Refinery Company in Indonesia.  The value of the contract is around US$ 31.5 Mn.  WABAG's scope of work includes design, engineering, supply of equipment and supervision of construction, installation & commissioning of the SWRO based Desalination plant.  This project is planned as part of the expansion of one of its refinery and shall provide water required to meet its process requirements.

As of March 2017 the company had order Book of over Rs 8,100 crore including Framework contracts of about Rs 870 crore.

Revenue guidance for FY 18 stands in the range of Rs 3800 crore - Rs 4000 crore, up 18-25%.

Order Intake guidance for FY 18 stands in the range of Rs 4300 crore - Rs 4500 crore, up 19-24%.