Australian mining water services company Vysarn has reported 31% and 36% year-on-year improvements in revenue and earnings, respectively, closing fiscal year 2026 with more than A$12 million in cash and what it sees as good growth prospects in the key Western Australia iron ore market.
“The company continues to consider groundwater management and dewatering in the iron ore sector as a non-discretionary service critical for ongoing production,” management said. Vysarn’s industrial business segment produced a record year of earnings “supported by a continuation of a tight supply demand dynamic across water well drilling in the WA iron ore sector coupled with strong rig availability. It was “well positioned to service this market across abstraction and injection borefield services, in turn providing opportunities for further organic earnings growth in FY2027”.
The company is also growing outside mining through acquisitions, announcing a $50 million deal to buy NWG Enterprises (NewGround) before the end of FY26 and a $60 million cash-and-share acquisition of Welltech since the end of the year.
It reported revenue of $140.06 million and EBITDA of $28.91 million for FY26. Net profit was 41% higher yoy at $15.11 million.
Vysarn announced a $65.3 million share placement in July to fund growth.
Welltech is a Western Australian water and sewerage management business. NewGround designs, builds, installs and maintains industrial-scale irrigation systems, pumping systems and ancillary technology for local government, urban developers and large-scale landscapers.
ASX-listed Vysarn’s share price is up about 50% in 2026, capitalising the company at nearly $650 million.
