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Late investor Rakesh Jhunjhunwala’s multibagger stock secures USD 33.5 million contract in Saudi Arabia 

VA TECH WABAG, a water technology leader, secured a USD 33.5 million contract to build a 20 million litre per day industrial wastewater treatment plant (IWWTP) at Saudi Aramco's Ras Tanura Refinery Complex. This project involves engineering, procurement, and supervision of the plant, designed to treat a mix of wastewater from various refinery sources. VA TECH WABAG will utilise a combination of biological, filtration, and reverse osmosis technologies to partially treat the wastewater for reuse within the refinery. The company will also employ wet air oxidation to handle specific waste streams. The project is expected to be completed in 20 months, this project solidifies VA TECH WABAG's foothold in the Saudi water treatment market and showcases its expertise in handling complex industrial wastewater while promoting sustainable water management solutions. In Q2FY24, the company posted an 11.38 per cent decrease in its consolidated revenue at ₹665, crore compared to ₹750.40 crore from the previous year’s corresponding quarter. The operating profit of the company stood at ₹101.50 crore, while the PAT of the company stood at ₹59.65 crore, from ₹44.20 crore last year's same quarter. The company has an order book of ₹12,000 crore and DIIs have increased their stake in the company.