Rekha Jhunjhunwala’s expense in this inventory doubles in less than 9 months
3 min read
Shares of VA Tech Wabag hit a 23-thirty day period superior of Rs 317 soon after it jumped 3 for each cent on the BSE in intra-day trade on Wednesday, having obtained 13 per cent in the earlier 4 days, just after it claimed a solid set of numbers for quarter ended March 2021 (Q4FY21). The stock of the sewage and water cure remedies company was trading at its highest stage because July 2019.

Ace investor Rakesh Jhunjhunwalaâs wife Rekha Jhunjhunwala held 5 million shares, or 8.04 for each cent stake, in VA Tech Wabag as on March 31, 2021, the shareholding pattern facts demonstrate.






Her financial commitment in the firm has almost doubled — up 98 per cent — in fewer than 9 months just after she subscribed the shares of VA Tech Wabag by using preferential situation. On September 29, VA Tech Wabag, the Indian multinational participant in the h2o treatment method marketplace, had allotted 7.5 million fairness shares to buyers together with Rekha Rakesh Jhunjhunwala at rate of Rs 160 for every share by way of preferential problem.

For January-March quarter (Q4FY21), VA Tech Wabag claimed a 52.9 for each cent year on 12 months (YoY) jump in its consolidated web revenue at Rs 46.6 crore on the back of wholesome operational cash flow. Earnings from operations grew 27.3 for every cent YoY at Rs 999 crore. EBITDA (earnings prior to curiosity, taxes, depreciation, and amortisation) margin, excluding divestment achieve, improved 50 basis details (bps) at 7.6 for each cent from 7.1 per cent in the yr-in the past quarter.

The organization, for second consecutive calendar year, generated good operational cash flow at Rs 135 crore on consolidated and Rs 105 crore on standalone basis. The corporation claimed it has get book of above Rs 9,500 crore which includes Framework contracts with an about 3x profits visibility.

In accordance to analysts, improvement seen in profits technology and credit card debt level are expected to continue as execution is picking up with important projects have reached revenue generation phase. With Purchase guide of much more than 3 moments of once-a-year revenue, the organization has the leverage to be extra picky in deciding upon orders. Improved government aim and higher budgetary spends on h2o related tasks like Jal Jeevan Mission, Namami Gange and many others will enable in boosting the get consumption heading ahead, they say.

At 11:25 am, the stock of VA Tech Wabag was up 1 per cent at Rs 311 on the BSE, as as opposed to a .21 per cent rise in the S&P BSE Sensex. A put together about 1.05 million shares experienced altered palms on the counter on the NSE and BSE until the time of producing of this report.

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