18:00 May 03, 2016  

Va Tech Wabag Ltd

HSL Code: VATECH   |   BSE Code: 533269  |   NSE Symbol: WABAG  |   ISIN: INE956G01038
03 May 2016 | 15:45
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Dear Shareholders,

The world is now on the cusp of an interesting transformation, where aspirations and requirements of a society have to be balanced with intelligent utilisation of natural resources. For centuries, we have taken bountiful nature for granted; now such an approach can lead to dangerous consequences. Water, an essential natural resource, has to be viewed in that perspective.

By 2050, we will have more than 9 billion people on the planet, demanding access to clean water as one of the vital prerequisites for a better quality of life. Not just that, growing urbanisation, industrialisation, environmental degradation and climate change can radically change the global water landscape, jeopardising lives and livelihoods of millions of people on the planet. How are we going to meet those challenges? There are no easy answers, but innovation can show the way forward. At WABAG, we are partnering cities and industries across the world to find innovative solutions to optimise the management of water resources so critical for human survival.

India offers an interesting example as to how critical water can be for an emerging economy with billion-plus aspirations. In India, water demand is expected to grow at 2.8% CAGR from 2010 to 2030. Water is needed for agriculture, industry and human consumption. However, India’s water resources are facing the twin challenges of depletion and pollution. Therefore, sustainable solutions must be put in place to conserve, purify and recycle the precious resource.

WABAG offers one of the most advanced technologically-driven expertise to cater to customer requirements in India and many other parts of the world. We have the relevant know-how to first understand the specific requirement of the client and then provide need-based solutions, considering the socio-economic dynamics of a particular project.

We have so far executed 2,300+ water treatment and waste water projects successfully in the last three decades globally to help improve the lives of millions of people. As governments and industries across the world are focusing on preparing a sustainable water blueprint, more investments are on the anvil. We see this scenario as a positive development, which will help us create more value for all stakeholders.

Year under review

During the year, WABAG executed large and complex projects across geographies. We continue to bid for big-ticket projects and have Rs. 5,439 Crore order book as on 31st March 2015.

Our Multi Domestic Units (MDU) performed well with the Philippines and Turkey leading from the front; we have secured a good number of high-value orders from these units. We have now gained a larger share of the water treatment market in the Philippines. I am happy that WABAG Turkey is taking care of complete management of waste water in the city of Istanbul.

During the year, we established new subsidiaries in Thailand, Bahrain and Qatar to capture the emerging opportunities in those regions. In India too we see good opportunities - the Namami Gange project, Development of 100 Smart Cities, Swachh Bharath Mission and the Delhi Jal Board’s initiatives to clean the Yamuna are some of the key opportunities which augur well for your Company.

Social commitments

Our solutions are an important aspect of community wellbeing. Taking this corporate ethos further, we put our resources and energy to find ways and means to help uplift the community. Our Rain Water Harvesting (RWH) initiative in partnership with Akash Ganga Trust significantly benefits the Kanchi Kamakoti Child Trust Hospital, Chennai. It recharges groundwater sources in order to sustain and improve the water table and water quality.

WABAG is also setting up a Sewage Treatment Plant (STP) Facility at the Cancer Institute, Adyar, Chennai. I am also delighted that we have partnered with M.S. Swaminathan Research Foundation to implement a project on Augmentation of Water Resources for small farmers in Villupuram District, Tamil Nadu.

Also, WABAG has engaged the services of Care Earth Trust, a Chennai-based NGO for the implementation of an integrated programme for building capacities for managing wetlands among the defined group of stakeholders

A long-term growth story

What WABAG is today is because of the creativity and determination of our global team and I am proud to be at the helm of such an organisation. We have a strong legacy of doing what matters most to the world and we will continue to follow our vision with renewed energy. Today, we are bigger, stronger and more connected to the world and to local communities than ever. Being a pure-play water technology company with accent on ecological balance, we are now well on our way to achieve our ‘One Billion Euro’ vision.

WABAG is a long-term growth story and we will continue to add exciting new chapters to the story by bringing the most innovative and sustainable solutions to the world.

I would like to thank all WABAGites for their contribution to WABAG’s success story. I look forward to their continued support as we strive to make WABAG even stronger. I also take this opportunity to express my gratitude to all our stakeholders who have reposed trust in WABAG.

Best wishes,

Bhagwan Dass Narang


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