3 Water and Wastewater Treatment, Pumps and Valves and Turbine Generators Stocks With a Strong Future Roadmap: VA Tech Wabag, Kirloskar Brothers and TD Power Systems
- October 23, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
VA Tech Wabag, Kirloskar Brothers and TD Power Systems: ROE of 14.4% to 22.3% and FY22 to FY26 revenue CAGR of 7.6% to 23.2%. Prices as of 22 Oct 2026.
Quick Answer
The three water treatment, pump and generator stocks to watch are VA Tech Wabag, Kirloskar Brothers and TD Power Systems. Their return on equity ranges from 14.4% to 22.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.6% to 23.2%. TD Power Systems leads on both return on equity at 22.3% and revenue growth at 23.2% a year. Prices are based on the 22 October 2026 close, and this article is educational, not investment advice.
Water treatment, pump and generator stocks let investors follow engineering companies that move water and generate power. VA Tech Wabag, Kirloskar Brothers and TD Power Systems cover water and wastewater treatment, pumps and valves and generators for turbines.
This list covers three water treatment, pump and generator stocks with complete current figures: VA Tech Wabag, Kirloskar Brothers and TD Power Systems. Every figure comes from the latest reported financials and the 22 October 2026 market close. Companies without complete current figures were left out.
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What Are Water Treatment, Pump and Generator Stocks?
Water treatment, pump and generator stocks are listed companies that build treatment plants, make pumps and valves and manufacture generators. Their earnings depend on government spending, order books and execution.
Water Treatment, Pump and Generator Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| VA Tech Wabag | 1,784.4 | 11,717 | 29.7 | 22.7 | 14.4 | 0.09 |
| Kirloskar Brothers | 1,659.3 | 13,186 | 35.0 | 43.0 | 15.2 | 0.10 |
| TD Power Systems | 673.4 | 23,639 | 86.0 | 43.9 | 22.3 | 0.02 |
On valuation, Kirloskar Brothers trades at a P/E below the industry P/E, while VA Tech Wabag and TD Power Systems trade above it, which reflects the growth the market already expects. Readers comparing water treatment, pump and generator stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Water Treatment, Pump and Generator Stocks Have a Strong Roadmap in India?
Water treatment, pump and generator stocks have a strong roadmap in India because water supply missions, irrigation and power capacity additions create steady demand for plants, pumps and generators.
- Water missions. Government programmes fund treatment and supply projects.
- Irrigation and buildings. Pumps and valves serve farms, towns and industry.
- Power additions. New turbines need generators.
Why VA Tech Wabag Features Among These Water Treatment, Pump and Generator Stocks
Among the water treatment, pump and generator stocks on this list, VA Tech Wabag designs, builds and operates water and wastewater treatment plants, including desalination and recycling plants, for municipal and industrial customers in India and abroad.
The company has a return on equity of 14.4%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 11,717 crore. The stock trades at a P/E of 29.7, above the industry P/E of 22.7.
Revenue rose from Rs 3,012 crore in FY22 to Rs 4,038 crore in FY26, a compound annual growth rate of 7.6%. Net profit grew from Rs 132 crore in FY22 to Rs 370 crore in FY26, which works out to a compound annual growth rate of 29.4%. In the June 2026 quarter, revenue grew 26.0% year on year to Rs 939 crore, while net profit rose 36.9% to Rs 90.1 crore.
Roadmap: Government missions for drinking water supply and sewage treatment, along with industrial water reuse, feed a long project pipeline. Operation and maintenance contracts add recurring revenue, and international orders widen the customer base.
What to watch: Monitor the order book, the share of operation and maintenance contracts and working capital cycles on large projects.
Why Kirloskar Brothers Features Among These Water Treatment, Pump and Generator Stocks
Among the water infrastructure company shares on this list, Kirloskar Brothers is a Pune-based maker of pumps, valves and hydro systems used in irrigation, water supply, power plants, buildings and industry. It has served customers for over a century.
Revenue rose from Rs 3,090 crore in FY22 to Rs 4,615 crore in FY26, a compound annual growth rate of 10.5%. Net profit grew from Rs 81.5 crore in FY22 to Rs 361 crore in FY26, which works out to a compound annual growth rate of 45.1%.
In the June 2026 quarter, revenue grew 12.5% year on year to Rs 1,120 crore. The company has a return on equity of 15.2%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 13,186 crore. The stock trades at a P/E of 35.0, below the industry P/E of 43.0.
Roadmap: The company benefits from public spending on water supply, irrigation and urban infrastructure, and it is growing its project and aftermarket business. A deep service network supports repeat orders.
What to watch: Follow order inflows from water and irrigation projects and the share of aftermarket sales.
Why TD Power Systems Features Among These Water Treatment, Pump and Generator Stocks
Among the three companies on this list, TD Power Systems, based in Bengaluru, manufactures generators for steam, gas, hydro and wind turbines and serves customers in India and overseas.
Revenue rose from Rs 814 crore in FY22 to Rs 1,878 crore in FY26, a compound annual growth rate of 23.2%. Net profit grew from Rs 70.5 crore in FY22 to Rs 239 crore in FY26, which works out to a compound annual growth rate of 35.7%.
The company has a return on equity of 22.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 23,639 crore. The stock trades at a P/E of 86.0, above the industry P/E of 43.9.
Roadmap: The company is expanding capacity to meet demand from power producers, industrial users and data centre backup, with a large share of orders coming from exports. Its design capability for large-rated machines allows it to compete in higher-value segments.
What to watch: Follow export order inflows and capacity utilisation at the new facilities.
VA Tech Wabag vs Kirloskar Brothers vs TD Power Systems on Key Financials
The table below sets the three water treatment, pump and generator stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| VA Tech Wabag | 3,012 | 4,038 | 7.6% | 370 | 9.2% |
| Kirloskar Brothers | 3,090 | 4,615 | 10.5% | 361 | 7.8% |
| TD Power Systems | 814 | 1,878 | 23.2% | 239 | 12.7% |
TD Power Systems posts the highest return on equity in this group at 22.3%. Kirloskar Brothers has the largest FY26 revenue at Rs 4,615 crore, and TD Power Systems shows the fastest revenue growth with a 23.2% compound annual rate. A useful habit with water treatment, pump and generator stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Water Treatment, Pump and Generator Stocks
Every theme carries risks that deserve a check before any decision. For these water treatment, pump and generator stocks, the main points are: Long-term water infrastructure company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Order timing. Large government orders can shift between quarters.
- Working capital. Project payments can take time.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter water treatment, pump and generator stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Water Treatment, Pump and Generator Stocks
Water treatment, pump and generator stocks reward investors who follow orders, execution and payments together. VA Tech Wabag, Kirloskar Brothers and TD Power Systems each have clear room to grow. Based on the 22 October 2026 close, VA Tech Wabag trades at Rs 1,784.4, Kirloskar Brothers at Rs 1,659.3 and TD Power Systems at Rs 673.4.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are water treatment, pump and generator stocks?
Ans. Water treatment, pump and generator stocks are listed companies that build treatment plants, make pumps and valves and manufacture generators. Their earnings depend on government spending, order books and execution. This list looks at three of them, VA Tech Wabag, Kirloskar Brothers and TD Power Systems, using reported FY22 to FY26 financials and the 22 October 2026 closing prices.
Which water treatment, pump and generator stocks are covered in this list?
Ans. This list covers VA Tech Wabag, Kirloskar Brothers and TD Power Systems. Based on the 22 October 2026 close, VA Tech Wabag traded at Rs 1,784.4, Kirloskar Brothers at Rs 1,659.3 and TD Power Systems at Rs 673.4. Their return on equity ranges from 14.4% to 22.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.6% to 23.2%.
Why do water treatment, pump and generator stocks have a strong future roadmap in India?
Ans. Water treatment, pump and generator stocks have a strong roadmap in India because water supply missions, irrigation and power capacity additions create steady demand for plants, pumps and generators. The main drivers are as follows. Water missions. Government programmes fund treatment and supply projects. Irrigation and buildings. Pumps and valves serve farms, towns and industry. Power additions. New turbines need generators. Together these factors give the companies on this list a visible path for growth over the coming years.
How has VA Tech Wabag performed financially?
Ans. Revenue rose from Rs 3,012 crore in FY22 to Rs 4,038 crore in FY26, a compound annual growth rate of 7.6%. Net profit grew from Rs 132 crore in FY22 to Rs 370 crore in FY26, which works out to a compound annual growth rate of 29.4%. In the June 2026 quarter, revenue grew 26.0% year on year to Rs 939 crore, while net profit rose 36.9% to Rs 90.1 crore. The company has a return on equity of 14.4%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 11,717 crore. The stock trades at a P/E of 29.7, above the industry P/E of 22.7. Looking ahead, government missions for drinking water supply and sewage treatment, along with industrial water reuse, feed a long project pipeline. Operation and maintenance contracts add recurring revenue, and international orders widen the customer base.
How has Kirloskar Brothers performed financially?
Ans. Revenue rose from Rs 3,090 crore in FY22 to Rs 4,615 crore in FY26, a compound annual growth rate of 10.5%. Net profit grew from Rs 81.5 crore in FY22 to Rs 361 crore in FY26, which works out to a compound annual growth rate of 45.1%. In the June 2026 quarter, revenue grew 12.5% year on year to Rs 1,120 crore. The company has a return on equity of 15.2%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 13,186 crore. The stock trades at a P/E of 35.0, below the industry P/E of 43.0. Looking ahead, the company benefits from public spending on water supply, irrigation and urban infrastructure, and it is growing its project and aftermarket business. A deep service network supports repeat orders.
How has TD Power Systems performed financially?
Ans. Revenue rose from Rs 814 crore in FY22 to Rs 1,878 crore in FY26, a compound annual growth rate of 23.2%. Net profit grew from Rs 70.5 crore in FY22 to Rs 239 crore in FY26, which works out to a compound annual growth rate of 35.7%. The company has a return on equity of 22.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 23,639 crore. The stock trades at a P/E of 86.0, above the industry P/E of 43.9. Looking ahead, the company is expanding capacity to meet demand from power producers, industrial users and data centre backup, with a large share of orders coming from exports. Its design capability for large-rated machines allows it to compete in higher-value segments.
What risks should investors check before buying water treatment, pump and generator stocks?
Ans. Investors should check a few risks before buying water treatment, pump and generator stocks. Order timing. Large government orders can shift between quarters. Working capital. Project payments can take time. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of water treatment, pump and generator stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 22 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
