3 Water and Wastewater Treatment Company, Diesel and Gas Engines Maker and Power Towers and Polymer Pipes Maker Stocks With a Strong Future Roadmap: VA Tech Wabag, Cummins India and Skipper
- November 2, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
VA Tech Wabag, Cummins India and Skipper: ROE of 14.3% to 27.9% and FY22 to FY26 revenue CAGR of 7.6% to 34.3%. Prices as of 30 Oct 2026.
Quick Answer
The three water treatment, engine and tower maker stocks to watch are VA Tech Wabag, Cummins India and Skipper. Their return on equity ranges from 14.3% to 27.9%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.6% to 34.3%. Cummins India has the highest return on equity at 27.9%, while Skipper has the fastest revenue growth at 34.3% a year. Prices are based on the 30 October 2026 close, and this article is educational, not investment advice.
Water treatment, engine and tower maker stocks bring together companies with a visible plan for the years ahead. VA Tech Wabag, Cummins India and Skipper cover a water and wastewater treatment company, a diesel and gas engines maker and a power towers and polymer pipes maker.
This list covers three water treatment, engine and tower maker stocks with complete current figures: VA Tech Wabag, Cummins India and Skipper. Every figure comes from the latest reported financials and the 30 October 2026 market close. Companies without complete current figures were left out.
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What Are Water Treatment, Engine and Tower Maker Stocks?
Water treatment, engine and tower maker stocks are listed companies that design and operate water and desalination plants, make engines, generator sets and power systems, and produce transmission towers, poles and polymer pipes. Their earnings depend on project awards, utility spending and order execution.
Water Treatment, Engine and Tower Maker Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| VA Tech Wabag | 1,812.3 | 11,717 | 29.7 | 22.7 | 14.4 | 0.09 |
| Cummins India | 4,452.6 | 127,515 | 53.9 | 44.4 | 27.9 | 0.00 |
| Skipper | 492.5 | 5,800 | 25.8 | 44.4 | 14.3 | 0.64 |
On valuation, Skipper trades at a P/E below the industry P/E, while VA Tech Wabag and Cummins India trade above it, which reflects the growth the market already expects. Readers comparing water treatment, engine and tower maker stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in water treatment, engine and tower maker stocks can use the coming numbers to test whether growth is holding.
Why Do Water Treatment, Engine and Tower Maker Stocks Have a Strong Roadmap in India?
Water treatment, engine and tower maker stocks have a strong roadmap in India because large water supply programmes, power backup needs and grid expansion keep widening the market for these project and equipment companies.
- Water programmes. Cities need treatment and reuse plants.
- Power systems. Engines support industry and data centres.
- Grid and pipes. Towers and pipes serve public works.
Why VA Tech Wabag Features Among These Water Treatment, Engine and Tower Maker Stocks
Among the water treatment, engine and tower maker 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 Cummins India Features Among These Water Treatment, Engine and Tower Maker Stocks
Among the water and power project shares on this list, Cummins India makes diesel and natural gas engines, generator sets, filtration products and power systems for infrastructure, data centres and industrial customers, and it also exports.
Revenue rose from Rs 6,414 crore in FY22 to Rs 12,661 crore in FY26, a compound annual growth rate of 18.5%. Net profit grew from Rs 934 crore in FY22 to Rs 2,362 crore in FY26, which works out to a compound annual growth rate of 26.1%.
In the June 2026 quarter, revenue grew 17.2% year on year to Rs 3,563 crore, while net profit rose 0.9% to Rs 609 crore. The company has a return on equity of 27.9%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 127,515 crore. The stock trades at a P/E of 53.9, above the industry P/E of 44.4.
Roadmap: The company benefits from demand for backup power at data centres, infrastructure projects and industrial plants, and it is widening its export base. A debt-free balance sheet supports capacity additions and new product lines.
What to watch: Track demand from data centres and new infrastructure and the growth of exports.
Why Skipper Features Among These Water Treatment, Engine and Tower Maker Stocks
Among the three companies on this list, Skipper is a Kolkata-based maker of power transmission towers and poles and of polymer pipes and fittings, and it also takes on infrastructure projects in India and overseas.
In the June 2026 quarter, revenue grew 4.5% year on year to Rs 1,314 crore, while net profit rose 25.5% to Rs 56.8 crore. Revenue rose from Rs 1,711 crore in FY22 to Rs 5,563 crore in FY26, a compound annual growth rate of 34.3%.
Net profit grew from Rs 25.1 crore in FY22 to Rs 213 crore in FY26, which works out to a compound annual growth rate of 70.6%. The company has a return on equity of 14.3%, a debt to equity ratio of 0.64 and a market capitalisation of Rs 5,800 crore. The stock trades at a P/E of 25.8, below the industry P/E of 44.4.
Roadmap: The company is growing its transmission tower order book and adding polymer pipe capacity, which spreads its earnings across power and water related demand. Grid expansion and housing spending support both businesses.
What to watch: Track tower order inflows, pipe volumes and progress on new capacity.
VA Tech Wabag vs Cummins India vs Skipper on Key Financials
The table below sets the three water treatment, engine and tower maker 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% |
| Cummins India | 6,414 | 12,661 | 18.5% | 2,362 | 18.7% |
| Skipper | 1,711 | 5,563 | 34.3% | 213 | 3.8% |
Cummins India posts the highest return on equity in this group at 27.9%. Cummins India has the largest FY26 revenue at Rs 12,661 crore, and Skipper shows the fastest revenue growth with a 34.3% compound annual rate. A useful habit with water treatment, engine and tower maker stocks is to check each new quarterly result against the capacity plans the company described earlier. Many investors spread money across several water, power and pipe stocks instead of one name, which keeps a single result from deciding the outcome.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| VA Tech Wabag | 745 | 939 | 26.0% |
| Cummins India | 3,041 | 3,563 | 17.2% |
| Skipper | 1,257 | 1,314 | 4.5% |
Key Risks to Check Before Investing in Water Treatment, Engine and Tower Maker Stocks
Every theme carries risks that deserve a check before any decision. For these water treatment, engine and tower maker stocks, the main points are: Long-term water and power project shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Order timing. Project awards can shift between periods.
- Capex cycles. Customer spending on plants and projects can vary.
- 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, engine and tower maker stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Water Treatment, Engine and Tower Maker Stocks
Water treatment, engine and tower maker stocks suit investors who prefer to study business strength before price moves. VA Tech Wabag, Cummins India and Skipper each have a clear plan to grow. Based on the 30 October 2026 close, VA Tech Wabag trades at Rs 1,812.3, Cummins India at Rs 4,452.6 and Skipper at Rs 492.5. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these water treatment, engine and tower maker stocks to a watchlist.
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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, engine and tower maker stocks?
Ans. Water treatment, engine and tower maker stocks are listed companies that design and operate water and desalination plants, make engines, generator sets and power systems, and produce transmission towers, poles and polymer pipes. Their earnings depend on project awards, utility spending and order execution. This list looks at three of them, VA Tech Wabag, Cummins India and Skipper, using reported FY22 to FY26 financials and the 30 October 2026 closing prices.
Which water treatment, engine and tower maker stocks are covered in this list?
Ans. This list covers VA Tech Wabag, Cummins India and Skipper. Based on the 30 October 2026 close, VA Tech Wabag traded at Rs 1,812.3, Cummins India at Rs 4,452.6 and Skipper at Rs 492.5. Their return on equity ranges from 14.3% to 27.9%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.6% to 34.3%.
Why do water treatment, engine and tower maker stocks have a strong future roadmap in India?
Ans. Water treatment, engine and tower maker stocks have a strong roadmap in India because large water supply programmes, power backup needs and grid expansion keep widening the market for these project and equipment companies. The main drivers are as follows. Water programmes. Cities need treatment and reuse plants. Power systems. Engines support industry and data centres. Grid and pipes. Towers and pipes serve public works. 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 Cummins India performed financially?
Ans. Revenue rose from Rs 6,414 crore in FY22 to Rs 12,661 crore in FY26, a compound annual growth rate of 18.5%. Net profit grew from Rs 934 crore in FY22 to Rs 2,362 crore in FY26, which works out to a compound annual growth rate of 26.1%. In the June 2026 quarter, revenue grew 17.2% year on year to Rs 3,563 crore, while net profit rose 0.9% to Rs 609 crore. The company has a return on equity of 27.9%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 127,515 crore. The stock trades at a P/E of 53.9, above the industry P/E of 44.4. Looking ahead, the company benefits from demand for backup power at data centres, infrastructure projects and industrial plants, and it is widening its export base. A debt-free balance sheet supports capacity additions and new product lines.
How has Skipper performed financially?
Ans. Revenue rose from Rs 1,711 crore in FY22 to Rs 5,563 crore in FY26, a compound annual growth rate of 34.3%. Net profit grew from Rs 25.1 crore in FY22 to Rs 213 crore in FY26, which works out to a compound annual growth rate of 70.6%. In the June 2026 quarter, revenue grew 4.5% year on year to Rs 1,314 crore, while net profit rose 25.5% to Rs 56.8 crore. The company has a return on equity of 14.3%, a debt to equity ratio of 0.64 and a market capitalisation of Rs 5,800 crore. The stock trades at a P/E of 25.8, below the industry P/E of 44.4. Looking ahead, the company is growing its transmission tower order book and adding polymer pipe capacity, which spreads its earnings across power and water related demand. Grid expansion and housing spending support both businesses.
What risks should investors check before buying water treatment, engine and tower maker stocks?
Ans. Investors should check a few risks before buying water treatment, engine and tower maker stocks. Order timing. Project awards can shift between periods. Capex cycles. Customer spending on plants and projects can vary. 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, engine and tower maker stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 30 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.
