ABB India achieves 5 GW milestone for solar inverters in India
30 - Aug - 2017 12:00 AM | 27 days ago
ABB India has surpassed the 5 GW milestone for the supply of solar inverters in India. From schools to airports, canal tops and mega solar plants, ABB's solar inverters with global technology made In India power various solar Installations across thecountry.
Last year, ABB India doubled its solar inverter manufacturing capacity in India. The expansion follows earlier milestones achieved by ABB India in 2015 - the first company to double the solar inverter installed base to 2GW in a span of five months. ABB's end to end portfolio for solar energyincluding solar inverters, powers about 50 percent of the various solar projects in the country.
ABB India standalone net profit rises 34.90% in the June 2017 quarter
20 - Jul - 2017 12:00 AM | 68 days ago
Net profit of ABB India rose 34.90% to Rs 75.06 crore in the quarter ended June 2017 as against Rs 55.64 crore during the previous quarter ended June 2016. Sales rose 6.04% to Rs 2191.49 crore in the quarter ended June 2017 as against Rs 2066.65 crore during the previous quarter ended June 2016.
The result was announced during market hours today, 20 July 2017.
Meanwhile, the S&P BSE Sensex was down 43.18 points, or 0.14% to 31,912.17.
High volumes were witnessed on the counter. On the BSE, 1.09 lakh shares were traded in ABB India counter so far, compared with average daily volumes of 28,482 shares in the past one quarter. The stock had hit a high of Rs 1,548.40 and a low of Rs 1,440 so far during the day. The stock had hit a 52-week high of Rs 1,619.45 on 10 May 2017. The stock had hit a 52-week low of Rs 950 on 9 November 2016.
The stock had underperformed the market over the past one month till 19 July 2017, falling 3.62% compared with Sensex's 2.06% rise. The scrip had also underperformed the market in past one quarter, rising 3% as against Sensex's 8.93% rise. The scrip had also underperformed the market in past one year, gaining 12.54% as against Sensex's 15% rise.
The large-cap company has equity capital of Rs 42.38 crore. Face value per share is Rs 2.
ABB India's net profit margin rose to 3.4% in Q2 June 2017 from 2.6% in Q2 June 2016.
This was a quarter where the lag effect of demonetization and troughing corporate lending met with the anticipation of Goods and Services Tax (GST). Continued close collaboration led to deeper insights of customer operations in a dynamic environment. This ensured revenue growth. Lean management, relentless pursuit of cash over revenue, and similar initiatives as part of operationalexcellence yielded savings and superior cash position.
Orders grew 13% to Rs 2301 crore in Q2 June 2017 over Q2 June 2016 reflecting company's organic growth strategy. Large orders remained muted as decisions on government initiatives and private investments were stalled in anticipation of upcoming tax restructure.
Base orders were the key contributor with industry turning to improving operational efficiencies through technology and digital upgrades including robotics automation. ABB strengthened its own digital asset health management offering to support the transformation of the Indian industry - with the launch of its remote drives service center. Export orders continued the uptrend in the year with a focus on power networks and industrial efficiency.
ABB is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. ABB Group holds 75% stake in ABB India as per the shareholding as on 31 March 2017.
