An ISO 9001 Company

May 21, 2024

National Stock Exchange of India Limited BSE Limited,

Exchange Plaza, Plot No. C/1, G Block, Floor 25, P J Towers,
Bandra Kurla Complex, Dalal Street,
Bandra (E), Mumbai - 400 051 Mumbai - 400 001
NSE Symbol: WABAG BSE Scrip Code: 533269

Dear Sir/ Madam,

Sub: Outcome of Board Meeting - Audited Financial Results (both Standalone and
Consolidated) of the Company for the quarter and financial year ended March 31, 2024

The Board of Directors ("Board") of VA Tech Wabag Limited ("the Company") at their meeting
held today i.e. Tuesday, May 21, 2024, has inter-cilia considered and approved the following:

Financial Results

The Audited Financial Results and Statements (both Standalone and Consolidated) of the
Company for the quarter and financial year ended March 31, 2024, as reviewed and recommended
by the Audit Committee.

A copy of the Audited Financial Results (both Standalone and Consolidated) in terms of
Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
("the SEBI LODR"), approved by the Board along with Auditors' Report with unmodified opinions
issued by the Statutory Auditors of the Company for the quarter and financial year ended March
31, 2024 (both Standalone and Consolidated) are enclosed herewith.

Press Release

Please find enclosed the copy of the Press Release issued by the Company in this regard.

The above said financial results with Auditors Report and the Press Release will also be available
on the Company's website at www.wabag.com. The Board meeting commenced at 11.45 A.M. IST
and concluded at 4.00 P.M. IST. Kindly take the same on record.

Thanking you,

For VA TECH WABAG LIMITED

ANUP Digitally signed by ANUP KUMAR SAMAL

DN: c=IN, o=PERSONAL, title=2597,
pseudonym=260fbf0cb1c444759b3176bd8afc609e,

KUMAR
2.5.4.20=2f08e2a4abd03cf834087d0169b8295db94
5b73a74bab7f34c29fd5496859827,
postalCode=500048, st=Telangana,
serialNumber=26a2e917225a7e97909c27b92ba3e3

SAMAL
56c8947696ef734eb423b8137492e67dee, cn=ANUP

Anup Kumar Samal KUMAR SAMAL

Date: 2024.05.21 16:04:47 +05'30'

Company Secretary & Compliance Officer

Membership No: F4832

Encl.: as above
Sustainable solutions, for a better life
VA TECH WABAG LIMITED
CIN L452051N1995PLC030231 Board : +91-44-6123 2323
WABAG "WABAG HOUSE" Fax : +91-44-6123 2324
No.17, 200 Feet Thoraipakkam Pallavaram Main Road, Email : wabag@wabag.in
Sunnambu Kolathur, Chennai - 600 117, India. Web : www.wabag.com
 WA BAG

An ISO 9001 Company

May 21, 2024

National Stock Exchange of India Limited BSE Limited,

Exchange Plaza, Plot No. C/1, G Block, Floor 25, P J Towers,
Bandra Kurla Complex, Dalal Street,
Bandra (E), Mumbai - 400 051 Mumbai - 400 001
NSE Symbol: WABAG BSE Scrip Code: 533269

Dear Sir/Madam,

Sub: Declaration in respect of Audit Report with unmodified opinion on the Audited Financial
Results of the Company for the quarter and financial year ended March 31, 2024.

In terms of the provisions of Regulation 33(3)(d) of the SEBI (Listing Obligations & Disclosure
Requirements) Regulations, 2015 as amended thereof, we the undersigned of VA TECH WABAG
LIMITED, hereby declare that M/ s Sharp & Tannan, Chartered Accountants, the Statutory
Auditors of the Company have issued Auditors' Report with unmodified opinion on Audited
Financial Results of the Company (both Standalone and Consolidated) for the quarter and
financial year ended March 31, 2024.

Kindly take note of the above.

Thanking You,

Yours faithfully,

For VA TECH WABAG LIMITED

Rajiv Mittal Skandaprasad Seetharaman Anup Kumar Samal

Chairman & Managing Director Chief Financial Officer Company Secretary &
Compliance Officer

Sustainable solutions, for a better life

VA TECH WABAG LIMITED
CIN L45205TN1995PLC030231 Board : +91-44-6123 2323
WABAG "WABAG HOUSE" Fax : +91-44-6123 2324
No.17, 200 Feet Thoraipakkam - Pallavaram Main Road, Email : wabag@wabag.in
Sunnambu Kolathur, Chennai - 600 117, India. Web www.wabag.com
 4 . ..,WABAG
VA TECH WABAG LIMITED
CIN: L45205TN1995PLC030231
Regd. office: "WABAG HOUSE. No.17, 200 Feet Thoraipakkam- Pallavaram Main Road, Sunnambu Kolathur, Chennai 600 117.
Website: www.wabag.com I Email: companysecretary@wabag.in
3` in Millions

STATEMENT OF CONSOLIDATED FINANCIAL STATEMENT OF STANDALONE FINANCIAL

RESULTS FOR THE RESULTS FOR THE

Quarter Ended Year ended Quarter Ended Year ended

SI No. Particulars
31/03/2024 31/12/2023 31/03/2023 31/03/2024 31/03/2023 31/03/2024 31/12/2023 31/03/2023 31/03/2024 31/03/2023

Audited Unaudited Audited Audited Audited Audited Unaudited Audited Audited Audited

Revenue
9,342 7,044 9,269 28,564 29,605 7,719 6,243 7,486 25,097 23,253
a. Revenue from operations
82 37 77 434 536 62 30 23 313 606
b. Other income

Total Income (a + b) 9,424 7,081 9,346 28,998 30,141 7,781 6,273 7,509 25,410 23,859

2 Expenses
7,188 5,354 7,033 21,672 22,779 6,104 4,693 5,428 19,295 17,873
a. Cost of sales and services
64 (55) (13) (5) (84) (3) (1) (73) (1) (17)
b. Changes in inventories

c. Employee benefits expense 599 574 694 2,354 2,655 452 420 448 1,729 1,678

d. Finance cost 218 167 162 711 658 166 139 149 594 601

e. Depreciation and amortisation 21 84 88 13 11 10 42 42

25 21
expense
f. Other expenses 336 182 471 786 1,077 78 177 387 591 769

Total expenses (a + b + c + d + e + 0 8,430 6,243 8,368 25,602 27,173 6,810 5,439 6,349 22,250 20,946

Profit before share of profit of associates

3 and joint ventures, exceptional items 994 838 978 3,396 2,968 971 834 1,160 3,160 2,913
and tax
Share of profit of associates and a joint (95) 93
4 5 (5) 38
venture
5 Profit before exceptional items and tax 999 833 1,016 3,301 3,061 971 834 1,160 3,160 2,913

6 Exceptional items (2,434) (2,892) (2,434) (2,892)

7 Profit/loss before tax 999 833 (1,418) 3,301 169 971 834 (1,274) 3,160 21

8 'Fax expense:

a. Current tax 309 223 (216) 866 146 328 199 (258) 851 75

b. Deferred tax (91) (16) (83) (69) (87) (77) 11 (61) (49) (67)

9 Profit/loss for the period 781 626 (1,119) 2,504 110 720 623 (955) 2,358 12

Profit/loss for the period attributable

to:
Owners of the parent 724 629 (1,110) 2,456 130 720 623 (955) 2,358 12

Non-controlling interests 57 (3) (9) 48 (20)

10 Earnings per equity share (in fl

a. Basic & Diluted (Not annualised) 11.64 10.11 (17.86) 39.49 2.07 11.58 10.01 (15.35) 37.91 0.20

11 Other Comprehensive income

i) Items that will not be reclassified to
profit or loss
-Re-measurement gains/(losses) on (18) 1 (1) (15)
(19) 1 (3) (16) (2) (1)
defined benefit plans
- Translation reserve
- Income tax relating to items that will 5 4
5 (1) 4
not be reclassified to profit or loss
ii) Items that will be reclassified
subsequently to profit or loss
- Translation reserve (74) 152 17 18 220
- Income tax relating to items that will be
reclassified to profit or loss
12 Other comprehensive income for the 218 (13) 1 (11) (1)
(88) 152 14 6 (1 )
period, net of tax
Other comprehensive income for the
period, net of tax attributable to:
Owners of the parent [88) 152 14 229 (13) 1 (1) (11) (1)

Non-controlling interests 6 (11)

Total comprehensive income for the (956) 2,346 12
13 693 778 (1,105) 2,510 328 707 624
period
Total comprehensive income for the
period attributable to:
Owners of the parent 636 781 (1,096) 2,456 359 707 624 (956) 2,346 12

Non-controlling interests 57 (3) (9) 54 (31)

Paid-up equity share capital (Face value Z 124 124
14 124 124 124 124 124 124 124 124
2 each)
15 Earnings per equity share (in fl
a. Basic & Diluted (Not annualised) 10.23 12.56 (17.63) 39.49 5.76 11.37 10.04 (15.37) 37.73 0.19
 WABAG
VA TECH WABAG LIMITED
CIN: L45205TN1995PLC030231
Regd. office: "WABAG HOUSE') No.17, 200 Feet Thoraipakkam- Pallavaram Main Road, Sunnambu Kolathur, Chennai 600 117.
Website: www.wabag.com I Email: companysecretary@wabag.in

Statement of Assets and Liabilities :

in Millions
Consolidated Standalone
Particulars 31/03/2024 31/03/2023 31/03/2024 31/03/2023
Audited Audited Audited Audited
ASSETS
Non-current assets
Property, plant and equipment 689 718 581 580
Intangible assets 36 36 17 16
Investments accounted for using the equity method 628 415
Financial assets
- Investments 43 43 1,302 951
- Trade receivables 5,304 6,871 5,289 5,348
- Other financial assets 1,993 861 441 496
Deferred tax assets (net) 450 371 390 342
Income tax assets (net) 349 834 245 730
Other non-current assets - 26 - -
9,492 10,175 8,265 8,463
Current assets
Inventories 359 353 103 102
Financial assets
- Trade receivables 19,911 15,068 18,140 13,916
- Cash and cash equivalents 4,399 1,806 2,899 861
- Bank balances other than those mentioned in cash and cash equivalents 698 948 658 801
- Other financial assets 345 932 481 443
Other current assets 10,541 10,780 6,599 6,136
Assets classified as held for sale - 830 - -
36,253 30,717 28,880 22,259
Total assets 45,745 40,892 37,145 30,722

Equity and Liabilities

Equity
Equity Share capital 124 124 124 124
Other equity
- Share premium 3,939 3,939 3,939 3,939
- Reserves and surplus 14,123 11,686 10,899 8,552
Share application money pending allotment - - - -
Equity attributable to owners of the parent 18,186 15,749 14,962 12,615
Non-controlling interests 53 (3)
Total Equity 18,239 15,746 14,962 12,615

Liabilities
Non-current liabilities
Financial liabilities
- Borrowings 1,886 550 790 448
- Lease Liabilities 48 32 -
- Trade payables
total outstanding dues of micro enterprises and small enterprises - - - -
total outstanding dues of creditors other than micro enterprises and small enterprises 1,283 1,332 1,329 1,400
- Other financial liabilities 13 11 13 11
Provisions 128 130 43 39
Deferred tax liabilities (net) - 11 -
Other non-current liabilities 2,598 70 2,598 70
5,956 2,136 4,773 1,968
Current Liabilities
Financial liabilities
- Borrowings 920 1,582 852 1,582
- Lease Liabilities 35 26 -
- Trade payables
total outstanding dues of micro enterprises and small enterprises 49 88 49 86
total outstanding dues of creditors other than micro enterprises and small enterprises 10,234 10,609 8,817 8,609
- Other financial liabilities 288 350 272 275
Other current liabilities 8,648 9,154 6,312 5,333
Provisions 1,152 531 932 254
Current tax liabilities (net) 223 81 176 -
Liabilities associated with the assets classified as held for sale - 589 - -
21,549 23,010 17,410 16,139
Total Liabilities 27,505 25,146 22,183 18,107
Total Equity and Liabilities 45,745 40,892 37,145 30,722
 VA TECH WABAG LIMITED
CIN: L45205TN19951'LC030231
Regd. office: "WABAG HOUSE" No.17, 200 Feet Thoraipakkam- Pallavaram Main Road, Sunnambu Kolathur, Chennai 600 117.
Website: www.wabag.com I Email: companysecretary@wabag.in
Statement of Cash Flows:
in Millions
Consolidated Standalone
Particulars 31/03/2024 31/03/2023 31/03/2024 31/03/2023
Audited Audited Audited Audited
A. Cash flow from operating activities
Profit before tax and exceptional items 3301 3,061 3,160 2,913
Exceptional items (refer note 3) - (2,892) - (2,892)
Profit before tax 3,301 169 3,160 21
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization expense 84 88 42 42
Share of (gain)/loss from associates and a joint venture, net 95 (93) - -
Unrealized foreign exchange loss/(gain) 3 (140) 21 (309)
Bad and doubtful debts, net 101 341 123 336
Unclaimed credit balances (16) (41) (16) (42)
(Gain) / Loss on sale of property, plant and equipment, net (2) (2) (2) (2)
(Gain) on sale/liquidation of investment in securities [152) (50) -
impairment of investments - 62 53
Interest expenses on lease liabilities 2 2 - -
Interest expenses 253 285 187 267
Interest and Dividend income (269) (115) (217) (82)
(Reversal)/Provision for foreseeable losses on contracts 12 (1) 11 (1)
Provision for compensated absences and gratuity 62 70 46 34
Provision for liquidated damages 359 6 137 6
(Reversal)/Provision for warranty 644 114 658 46
Operating profit before working capital changes 4,477 633 4,212 369

Changes in working capital

(Increase)/Decrease in trade receivables (3,418) (1,287) (4,329) (1,010)
(Increase)/Decrease in other financial assets (852) (812) (43) 56
Decrease/(Increase) in other assets 273 603 (463) 1,153
(Increase)/Decrease in inventories (6) (18) (1) (17)
(Decrease)/Increase in trade payables (397) 562 143 660
(Decrease)/Increase in other financial liabilities (64) 139 (16) 11
Increase/(Decrease) in other liabilities 2,054 1,667 3,508 1,238
(Decrease)/Increase in provisions (472) (363) (184) (41)
Cash generated from operating activities 1,595 1,124 2,827 2,419
Direct taxes paid, net (260) (275) (177) (237)
Net cash generated from/(used in) operating activities 1,335 849 2,650 2,182

B. Cash flow from investing activities

Purchase of property, plant and equipment and intangible assets (including capital advances) (119) (52) (49) (7)
Proceeds from sale of property, plant and equipment and Intangible assets 9 35 5 5
Purchase of investments - - (415) (445)
Proceeds from sale of subsidiary 438 - - -
Dividend received 122 11 102 5
Interest received 140 67 109 74
Net movement in bank deposits 251 97 204 (126)
Net cash generated from/(used in) investing activities 841 158 (44) (494)

C. Cash flow from financing activities

Proceeds / (Repayment of) from long term borrowings, net 1,476 (846) 382 (777)
(Repayment of) / Proceeds from short term borrowings, net (816) (1,255) (782) (1,225)
Recognition / (Repayment) of lease liabilities 25 (18) . -
Interest paid (249) (281) (169) (270)
Net cash generated from/(used in) financing activities 436 (2,400) (569) (2,272)

D.Net change in cash and cash equivalents 2,612 (1,393) 2,037 (584)
Effects of foreign currency translation (19) 249 1 (3)
E. Cash and cash equivalents at the beginning 2,066 3,210 861 1,448
F. Cash and cash equivalents at the beginning (classified under assets heldfor sole) related to divested subsidiary (260) - - -
G. Cash and cash equivalents in Cash Flow Statement at the end 4,399 2,066 2,899 861

Cash and cash equivalents include

Cash on hand 16 9 - -
Cheques on hand 270 312 270 312
Balances with banks
- in current accounts 2,251 1,279 966 549
- in deposit accounts (maturity upto 3 months) 1,862 207 1,663 -
- classified under assets held for sale (also refer F above) - 260 - -
Cash and cash equivalents 4,399 2,066 2,899 861
Bank overdraft
Cash and cash equivalents in Cash Flow Statement 4,399 2,066 2,899 861
 CiltiWABAG
VA TECH WABAG LIMITED
CIN: L45205TN1995PLC030231
Regd. office: "WABAG HOUSE" No.17, 200 Feet Thoraipakkam- Pallavaram Main Road, Sunnambu Kolathur, Chennai 600 117.
Website: www.wabag.coml Email: companysecretary@wabag.in

Segment-wise Revenue, Results, Assets and Liabilities:

in Millions
STATEMENT OF CONSOLIDATED FINANCIAL STATEMENT OF STANDALONE FINANCIAL
RESULTS FOR THE RESULTS FOR THE
Quarter Ended Year ended Quarter Ended Year ended
SI No. Particulars
31/03/2024 31/12/2023 31/03/2023 31/03/2024 31/03/2023 31/03/2024 31/12/2023 31/03/2023 31/03/2024 31/03/2023

Audited Unaudited Audited Audited Audited Audited Unaudited Audited Audited Audited
1 Segment Revenue
India 4,860 4,496 5,176 17,324 16,642 4233 3,994 4,557 14,912 14,988
Rest of the world 4,840 3,041 4,767 13,481 14,808 3,475 2,235 2,872 9,980 8,119
Total 9,700 7,537 9,943 30,805 31,450 7,708 6,229 7,429 24,892 23,107
Add: Un-allocable revenue 318 25 296 657 432 11 14 57 205 146
Less: Inter-segment Revenue 676 518 970 2,898 2,277 - -
Net Sales/Income From Operations 9,342 7,044 9,269 28,564 29,605 7,719 6,243 7,486 25,097 23,253

2 Segment Results (Profit before interest,

tax and other unallocable items)

India 772 965 1,131 3,437 3,310 755 918 1,133 3,362 3282
Rest of the world 1,069 860 1,126 3,170 3,568 853 630 946 2,337 1,973
Total 1,841 1,825 2,257 6,607 6,878 1,608 1,548 2,079 5,699 5,256
Less: (479) (524)
(134) (72) (85) (390) (491) (106) (120) (133)
(i) Interest and bank charges, net
(ii) Other un-allocable expenditure [863) (777) (1,011) (3,223) (3,819) (486) (607) (845) (2,361) (2,489)
Add: (45) 13 59 301 670
155 (143) (145) 307 493
(i) Un-allocable income

Profit before exceptional items and tax 999 833 1,016 3,301 3,061 971 834 1,160 3,160 2,913

Exceptional Items (2,434) (2,892) (2,434) (2,892)

Profit/loss before tax 999 833 (1,418) 3,301 169 971 834 (1,274) 3,160 21
3 Segment Assets
India 17,675 18,433 16,376 17,675 16,376 16,612 16,973 15,901 16,612 15,901
Rest of the world 23,346 21,200 20,797 23,346 20,797 15,972 14,367 11,237 15,972 11,237
Unallocated 4,724 4,328 3,719 4,724 3,719 4,561 4,177 3,584 4,561 3,584
Total 45,745 43,961 40,892 45,745 40,892 37,145 35,517 30,722 37,145 30,722
4 Segment Liabilities
India 13,294 13,564 10,304 13,294 10,304 11,346 11,076 9,132 11,346 9,132
Rest of the world 11,651 9,833 12,001 11,651 12,001 8,324 7,284 6,233 8,324 6,233
Unallocated 2,560 3,009 2,841 2,560 2,841 2,513 2,902 2,742 2,513 2,742
Total 27,505 26,406 25,146 27,505 25,146 22,183 21,262 18,107 22,183 18,107

Notes
1 The above results were reviewed by the Audit Committee and were approved and taken on record by the Board at its meeting held on May 21, 2024 and has been audited by the Statutory Auditors of the
Company.
2 The Company has reported segment information as per Indian Accounting Standard 108 "Operating Segments" (IND AS 108) read with SEBI's circular CIR/CFD/FAC/62/2016 dated July 05, 2016.
Accordingly, the Company has identified the geographical components as its operating segments for reporting and is consistent with performance assessment and resource allocation by the management
of the Company. Segment revenue comprises sales and operational income allocable specifically to a segment. Un-allocable expenditure mainly includes employee expense, depreciation, foreign exchange
loss and other expenses. Un-allocable income primarily includes other operating income and foreign exchange gain.
3 Figures for the previous periods have been regrouped/reclassified to conform to the figures presented in the current period.

4 In respect of Standalone and Consolidated financial results, the figures for the quarter ended March 31, 2024 and March 31, 2023 are the balancing figures between the audited figures in respect of full
financial years ended March 31, 2024 and March 31, 2023 and the published year to date figures for the nine months ended December 31,2023 and December 31, 2022 respectively which were subject to
limited review.
5 Consolidated Financial Results for the previous year ended March 31, 2023 includes the Results, Assets and Liabilities of the two divested European Subsidiaries, while the current financial year ended
March 31, 2024 does not include the same. Hence the reported numbers are not comparabile.

RAJIV MITTAL
Place : Chennai CHAIRMAN & MANAGING DIRECTOR
Date : May 21, 2024 DIN: 01299110
 Parsn Manere, A wing, 3rd Floor
602 Anna Salai, Chennai 600006
Tamil Nadu, India
SHARP&
+91 44 2827 4368
www.sharpandtannan.com
TANNAN
chartered accountants

Independent Auditor's Report on Audit of Consolidated Financial Results

To
The Board of Directors of VA Tech Wabag Limited

Opinion

We have audited the accompanying statement of consolidated financial results of

VA Tech Wabag Limited ('the Company' or 'the Holding Company') and its subsidiaries (Holding
Company and its subsidiaries together referred to as the 'Group') and its associates for the quarter
and year ended 31 March 2024 ('the Statement'), being submitted by the Company pursuant to the
requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us and
based on the consideration of the reports of the other auditors on financial information of
subsidiaries and associates, referred to below in the Other Matter paragraph, the Statement:

a. includes the financial results of the subsidiaries and associates as given in Annexure 1;

b. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and

c. gives a true and fair view, in conformity with the recognition and measurement principles laid
down in the Indian Accounting Standards ('Ind AS'), and other accounting principles generally
accepted in India, of consolidated total comprehensive income (comprising of net profit and
other comprehensive income) and other financial information of the Group for the quarter and
year ended 31 March 2024.

Basis of Opinion:

We conducted our audit in accordance with the Standard on Auditing (Standards) specified under
section 143(10) of the Companies Act, 2013 (the 'Act'). Our responsibilities under those Standards
are further described in the Auditor's Responsibilities for the Audit of the Statement section of our
report. We are independent of the Group and its associates in accordance with the Code of Ethics
issued by the Institute of Chartered Accountants of India together with the ethical requirements that
are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013
and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with
these requirements and the Code of Ethics. We believe that the audit evidence obtained by us and
other auditors in terms of their reports referred to in "Other Matters" paragraph below, is sufficient
and appropriate to provide a basis for our opinion.

54 .

Assurance I Consulting I GRC I Tax

Ahmedabad I Bengaluru I Chennai I Coimbatore I Delhi I Goa i Hyderabad I Mumbai I Pune I Vadodara
 SHARP&
TANNAN
chartered accountants

Management's and Board of Director's Responsibilities for the Statement:

This Statement which includes the consolidated financial results, is the responsibility of the Holding
Company's Board of Directors and has been approved by them for issuance. The Statement has been
compiled from the audited consolidated financial statements for the year ended 31 March 2024. The
Holding Company's Board of Directors are responsible for the preparation and presentation of this
Statement that give a true and fair view of the net profit / loss and other comprehensive income and
other financial information of the Group and its associates in accordance with the recognition and
measurement principles laid down in the Ind AS prescribed under Section 133 of the Act read with
relevant rules issued thereunder and other accounting principles generally accepted in India and in
compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the
companies included in the Group and its associates are responsible for maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding of the assets of
the Group and its associates and for preventing and detecting frauds and other irregularities;
selection and application of appropriate accounting policies; making judgments and estimates that
are reasonable and prudent; and the design, implementation and maintenance of adequate internal
financial controls, that were operating effectively for ensuring accuracy and completeness of the
accounting records, relevant to the preparation and presentation of the Statement that give a true
and fair view and are free from material misstatement, whether due to fraud or error, which have
been used for the purpose of preparation of the Statement by the Directors of the Holding
Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies included in the
Group and its associates are responsible for assessing the ability of the Group and its associates to
continue as a going concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless the respective Board of Directors either intends to
liquidate the Group and its associates or to cease operations, or has no realistic alternative but to do
SO.

The respective Board of Directors of the companies included in the Group and its associates are
responsible for overseeing the financial reporting process of the Group and its associates.

Auditor's Responsibilities for the Audit of the Statement:

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that
an audit conducted in accordance with Standards will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of this Statement.

Assurance I Consulting I GRC I Tax

Ahmedabad I Bengaluru I Chennai I Coimbatore I Delhi I Goa I Hyderabad I Mumbai I Pune I Vadodara
 SHARP&
TANNAN
chartered accountants

As part of an audit in accordance with Standards, we exercise professional judgment and maintain
professional scepticism throughout the audit. We also:

• identify and assess the risks of material misstatement of the consolidated financial results,
whether due to fraud or error, design and perform audit procedures responsive to those
risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our
opinion. The risk of not detecting a material misstatement resulting from fraud is higher than
for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.

• obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, under section 143(3)(i) of the Act, we
are also responsible for expressing our opinion on whether the holding company and its
subsidiaries incorporated in India have adequate internal financial controls in place with
reference to the financial statements and the operating effectiveness of such controls.

• evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by the Board of Directors.

• conclude on the appropriateness of the Board of Directors' use of the going concern basis
of accounting and, based on the audit evidence obtained, whether a material uncertainty
exists related to events or conditions that may cast significant doubt on the ability of the
Group and its associates to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor's report to the related
disclosures in the consolidated financial results or, if such disclosures are inadequate, to
modify our opinion. Our conclusions are based on the audit evidence obtained up to the date
of our auditor's report. However, future events or conditions may cause the Group and its
associates to cease to continue as a going concern.

• evaluate the overall presentation, structure and content of the consolidated financial results,
including the disclosures, and whether the consolidated financial results represent the
underlying transactions and events in a manner that achieves fair presentation.

• perform procedures in accordance with the circular issued by the Securities and Exchange
Board of India under Regulation 33(8) of the Listing Regulations to the extent applicable.

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Ahmedabad I Bengalual I Chennai I Coimbatore I Delhi I Goa I Hyderabad I Mumbai I Pune I Vadodara
 SHARP&
TANNAN
chartered accountants

• obtain sufficient appropriate audit evidence regarding the financial information of the
entities within the Group and its associates to express an opinion on the consolidated
financial results. We are responsible for the direction, supervision and performance of the
audit of financial information of such entities included in the consolidated financial results of
which we are the independent auditors. For the other entities included in the consolidated
financial results, which have been audited by other auditors, such other auditors remain
responsible for the direction, supervision and performance of the audits carried out by them.
We remain solely responsible for our audit opinion.

Materiality is the magnitude of misstatements in the standalone financial statements that,

individually or in aggregate, makes it probable that the economic decisions of a reasonably
knowledgeable user of the standalone financial statements may be influenced. We consider
quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in
evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in
the standalone financial statements

We communicate with those charged with governance of the Holding Company and such other
entities included in the Statement of which we are the independent auditors regarding, among other
matters, the planned scope and timing of the audit and significant audit findings, including any
significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with
relevant ethical requirements regarding independence, and to communicate with them all
relationships and other matters that may reasonably be thought to bear on our independence, and
where applicable, related safeguards.

Other matters:

a. The Statement include the audited financial results and financial information of twelve
subsidiaries, whose financial information reflect Group's share of total assets of
Rs. 12,286 million as at 31 March 2024, Group's share of total revenue of Rs. 2,361 million and
Rs. 6,951 million, Group's share of total net profit after tax of Rs. 98 million and
Rs. 315 million and total comprehensive income of Rs. 97 million and Rs. 314 million for the
quarter and year ended 31 March 2024 respectively and net cash inflows of Rs. 560 million for
the year ended on that date as considered in the Statement, which have been audited by their
respective independent auditors. The independent auditors' reports on financial information of
these entities have been furnished to us and our opinion on the consolidated financial results, in
so far as it relates to the amounts and disclosures included in respect of these entities, is based
solely on the report of such auditors and the procedures performed by us are as stated in the
basis for opinion paragraph above. Our opinion on the Statement is not modified in respect of
the above matter with respect to our reliance on the work done and the reports of the other
auditors.

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Ahmedabad I Bengaluru I Chennai I Coimbatore I Delhi I Goa I Hyderabad I Mumbai I Pune I Vadodara
 SHARP&
TANNAN
chartered accountants

b. The Statement include the Group's share of profit after tax of Rs. 5 million and loss after tax of
Rs. 95 million and total comprehensive income of Rs. 5 million and total comprehensive loss of
Rs. 95 million for the quarter and year ended 31 March 2024, in respect of four associates, whose
financial information have not been audited by us. The financial information of these associates
has been audited by other auditors whose reports have been furnished to us by the Holding
Company's management and our opinion on the Statement, in so far as it relates to the amounts
and disclosures included in respect of the associates, is based solely on the report of such other
auditors.

c. The Statement include the results for the quarter ended 31 March 2024 being the balancing
figure between the audited figures in respect of the full financial year and the published
unaudited year to date figures up to the third quarter of the current financial year which were
subject to limited review by us. Our opinion is not modified in respect of this matter.

for SHARP & TANNAN

Chartered Accountants
(Firm's Registration No, 003792S)

V. Viswa athan
Part er
Place: Chennai Membership 215565
Date: 21 May 2024 UDIN: 24215565BKGRMP7761

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Ahmedabad I Bengaluru I Chennai I Coimbatore I Delhi I Goa I Hyderabad I Mumbai I Pune I Vaclodara
 SHARP&
TANNAN
chartered accountants

Annexure1- List of entities included in the Statement

Subsidiaries
1. VA Tech Wabag (Singapore) Pte. Ltd, Singapore
2. VA Tech Wabag GmbH, Austria
3. Wabag Water Services s.r.1, Romania
4. VA Tech Wabag S U Teknolojisi Ve Ticaret A.S, Turkey
5. VA Tech Wabag Tunisie s.a.r.1, Tunisia
6. VA Tech Wabag Deutschland GmbH, Germany
7. VA Tech Wabag Muscat LLC, Oman
8. Wabag Belhasa JV WLL, Bahrain
9. Wabag Muhibbah JV SDN BHD, Malaysia
10. VA Tech Wabag (Philippines) Inc., Philippines
11. VA Tech Wabag Limited Pratibha Industries Limited JV, Nepal
12. Ghaziabad Water Solutions Private Limited, India

Note:
Kopri Bio Engineering Private Limited (up to 4 July 2023)
Wabag Limited, Thailand (up to 3 November 2023)
DK Sewage Project Private Limited (up to 28 March 2024)

Associates
1. VA Tech Wabag & Roots Contracting LLC., Qatar
2. Windhoek Goreangab Operating Company (Pty) Limited, Namibia
3. Ganga STP Projects Private Limited
4. DK Sewage Project Private Limited - (w.e.f 29 March 2024)

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Ahmedabad I Bengaluru I Chennai I Coimbatore I Delhi I Goa I Hyderabad I Mumbai I Pune I Vaclodara
 Parsn Manere, A wing, 3rd Floor
602 Anna Salai, Chennai 600006
Tamil Nadu, India
SHARP&
+9144 2827 4368
www.sharpandtannan.com
TANNAN
chartered accountants

Independent Auditor's Report on Audit of Standalone Financial Results

To
The Board of Directors of VA Tech Wabag Limited

Opinion:

We have audited the accompanying statement of standalone financial results of

VA Tech Wabag Limited ('the Company') for the quarter and year ended 31 March 2024 ('the
Statement'), attached herewith, being submitted by the Company pursuant to the requirements
of regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us,
the Statement:
a. is presented in accordance with the requirements of regulation 33 of the Listing Regulations;
and
b. give a true and fair view in conformity with the recognition and measurement principles laid
down in the Indian Accounting Standards ('Ind AS') and other accounting principles generally
accepted in India of the net profit and other comprehensive income and other financial
information for the quarter and year ended 31 March 2024

Basis of Opinion:

We conducted our audit in accordance with the Standards on Auditing ('Standards') specified
under section 143(10) of the Companies Act, 2013 (the 'Act'). Our responsibilities under those
Standards are further described in the 'Auditor's Responsibilities for the Audit of the Statement'
section of our report. We are independent of the Company in accordance with the Code of Ethics
issued by the Institute of Chartered Accountants of India (the 'ICAI9 together with the ethical
requirements that are relevant to our audit of the standalone financial results under the
provisions of the Companies Act, 2013 and the rules thereunder, and we have fulfilled our other
ethical responsibilities in accordance with these requirements and ICAI's Code of Ethics. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our opinion.

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Ahmedabad 1 Bengaluru I Chennai I Coimbatore I Delhi I Goa I Hyderabad I Mumbai I Pune I Vadodara
 SHARP&
TANNAN
chartered accountants

Management's and Board of Director's Responsibilities for the Statement:

This Statement, which includes the standalone financial results, is the responsibility of the
Company's Board of Directors and has been approved by them for issuance. The Statement has
been compiled from the audited standalone financial statements for the year ended
31 March 2024. The Board of Directors are responsible for the preparation and presentation of
this Statement that give a true and fair view of the net profit/loss and other comprehensive
income and other financial information in accordance with the recognition and measurement
principles laid down in Ind AS, prescribed under Section 133 of the Act read with relevant rules
issued thereunder and other accounting principles generally accepted in India and in compliance
with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of
adequate accounting records in accordance with the provisions of the Act for safeguarding of
the assets of the Company and for preventing and detecting frauds and other irregularities;
selection and application of appropriate accounting policies; making judgments and estimates
that are reasonable and prudent; and design, implementation and maintenance of adequate
internal financial controls that were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and presentation of the
Statement that give a true and fair view and are free from material misstatement, whether due to
fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless the Board of Directors either intends to
liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting
process.

Auditor's Responsibilities for the Audit of the Statement:

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that
an audit conducted in accordance with Standards will always detect a material misstatement when
it exists. Misstatements can arise from fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic decisions of
users taken on the basis of this Statement.

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Ahmedabad I Bengaluru I Chennai I Coimbatore I Delhi I Goa I Hyderabad I Mumbai I Pune I Vadodara
 SHARP&
TANNAN
chartered accountants

As part of an audit in accordance with Standards, we exercise professional judgment and

maintain professional scepticism throughout the audit. We also:

• identify and assess the risks of material misstatement of the Statement, whether due to fraud
or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or
the override of internal control.

• obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we
are also responsible for expressing our opinion on whether the Company has adequate
internal financial controls in place with reference to the financial statements and the operating
effectiveness of such controls.

• evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by the Board of Directors.

• conclude on the appropriateness of the Board of Directors' use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the Company's ability to
continue as a going concern, If we conclude that a material uncertainty exists, we are required
to draw attention in our auditor's report to the related disclosures in the Statement or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor's report. However, future events or conditions
may cause the Company to cease to continue as a going concern.

• evaluate the overall presentation, structure and content of the Statement, including the
disclosures, and whether the Statement represent the underlying transactions and events in a
manner that achieves fair presentation.

• obtain sufficient appropriate audit evidence regarding the standalone financial results of the
Company to express an opinion on the same.

Materiality is the magnitude of misstatements in the standalone financial statements that,

individually or in aggregate, makes it probable that the economic decisions of a reasonably
knowledgeable user of the standalone financial statements may be influenced. We consider
quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in
evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements
in the standalone financial statements

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Ahmedabad I Bengaluru I Chennai I Coimbatore I Delhi I Goa I Hyderabad I Mumbai I Pune I Vadodara
 SHARP&
TANNAN
chartered accountants

We communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with
relevant ethical requirements regarding independence, and to communicate with them all
relationships and other matters that may reasonably be thought to bear on our independence,
and where applicable, related safeguards

Other Matter:

The Statement include the results for the quarter ended 31 March 2024 being the balancing figure
between the audited figures in respect of the full financial year and the published unaudited year
to date figures up to the third quarter of the current financial year which were subject to limited
review by us. Our opinion is not modified in respect of this matter.

for SHARP & TANNAN

Chartered Accountants
(Firm's Registration No. 0037925)

V. Vis anathan
Pa tner
Place: Chennai Membershi.• No. 215565
Date: 21 May 2024 UDIN: 24215565BKGRM07918

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Ahmedabad I Sengaluru I Chennai I Coimbatore I Delhi I Goa I hlyclerabacl I Mumbai I Pune I Vadodara
 C1CWABAG
An ISO 9001 Company

PRESS RELEASE For Immediate Publication

Chennai, India May 21, 2024

WABAG declares FY 23 — 24 results

Consolidated Revenue of Rs. 28,564 Million with YoY PAT growth of —9%

May 21, 2024: VA TECH WABAG LIMITED, a leading Indian Multinational Technology Company
in the water sector announced today its financial results for the Year ended FY 2023-24.

Sales and Profitability:

• Consolidated Revenue from operations of Rs. 28,564 Mn

• Consolidated EBITDA of Rs. 3,768 Mn; up 8% YoY*
• Consolidated PAT of Rs. 2,456 Mn; up 9% YoY*
• Standalone Revenue from operations of Rs. 25,097 Mn
• Standalone EBITDA of Rs. 3,577 Mn; up 3% YoY*
• Standalone PAT of Rs. 2,358 Mn; up 8% YoY*

*Comparative numbers of FY23 are excluding divested European Subsidiaries and exceptional items for
like-to-like comparison.

Order Book:
• Order Intake of Rs. 23.4 Bn
• Order Book position of over Rs. 114 Bn including Framework contracts; Providing
Robust revenue visibility

Cash:
• Net Cash Position Rs. 2,356 Mn
• Operational Cash Flow Rs. 1,335 Mn
• Free Cash Flow Rs. 1,683 Mn

Sustainable solutions, for a better life

CeWABAG
VATECH
WABAG
LIMITED
CIN: L45205TN1995PLC030231
Board
Fax :
:
:
+91- 44 - 6123 2323
+91- 44 - 6123 2324
"WABAG HOUSE", Email : wabag@wabag.in
No.17, 200 Feet Thoraipakkam-Pallavaram Main Road, Web : www.wabaq.com
Sunnambu Kolathur, Chennai 600 117, India.
 €C -_WABAG

An ISO 9001 Company

Commenting on the results, Mr. Rajiv Mittal, Chairman & Managing Director, VA TECH WABAG
LIMITED said, "We continue to deliver Profitable Growth this Year with persistent focus on
technology EP, Industrial and International projects. Group continues its strategic approach
to remain 'Asset Light'; last year we strategically divested two of our European Subsidiqries
and we have also successfully inducted majority Equity Partner in 2 out of 3 HAM SPVs. Our
robust order book position which is over Rs. 774 Billion, provides confidence of our future
revenues. Our healthy mix of EP, O&M Industrial & International projects in line with our
Strategy "Wriddhi" provides us good visibility for the future regarding robust margins and
good cash flows. This is the fourth consecutive year we have concluded Net Cash Positive and
I am confident that we will continue to remain on this growth path, as we step into the next
financial year""

Sustainable solutions, for a better life

VA TECH WABAG LIMITED Board : +91- 44 - 6123 2323

CiC:CWABAG CIN: L45205TN1995PLC030231 Fax : : +91- 44 - 6123 2324
"WABAG HOUSE", Email : wabag@wabag.in
No.17, 200 Feet Thoraipakkam-Pallavaram Main Road, Web : www.wabaq.com
Sunnambu Kolathur, Chennai 600 117, India.
 eWABAG

An ISO 9001 Company

For Further information, please contact:
Mr. Nilamani Satapathy, Corporate Communications
VA TECH WABAG LIMITED I Tel: +91 44 6123 2949 I Email: Nilamani_Satapathy@wabag.in
CIN: L45205TN1995PLC030231

About WABAG: WABAG is a global leader in the water industry backed by rich experience
spanning over 100 years. Being a pure-play water technology multinational, WABAG offers a
complete range of technologies and services for Total Water Solutions in both Municipal and
Industrial sectors. With over 1,600 water professionals, spread over 25 countries in 4 continents,
WABAG is touching millions of lives every day. WABAG has built over 1,400 municipal and
industrial plants in various geographies across the globe over the last 3 decades, with
customized solutions matching to its customers' needs. WABAG is a complete life-cycle partner
for building water and wastewater infrastructure covering Design, Engineering, Supply,
Construction, Installation, Start up and Long-term Operational Management across various
business models. With passion for innovation, WABAG is continuing its Research and
Development initiatives from dedicated R&D centers located in Europe and India, and possesses
over 125 IP Rights. WABAG's vision is aligned to the UNSDGs and ESG with special focus on
conservation, optimization, recycling and reuse of resources, directed at addressing water
challenges across the world. WABAG is thus one of the world's leading partners for investments
in a future that is worth living.

Sustainable solutions, for a better life

VA TECH WABAG LIMITED Board : +91- 44 - 6123 2323

c CHHWABAG
- CIN: L4520STN1995PLC030231
"WABAG HOUSE",
No.17, 200 Feet Thoraipakkam-Pallavaram Main Road,
Sunnambu Kolathur, Chennai 600 117, India.
Fax :
Email
Web
: +91- 44 - 6123 2324
: wabag@wabag.in
: www.wabachcom